Mr. J. Paul Sorbara reports

GOLDEN GOLIATH ANNOUNCES PRIVATE PLACEMENT

Golden Goliath Resources Ltd. has arranged a private placement of up to $1.9-million. The financing will consist of a combination of flow-through units priced at 11 cents with a warrant priced at 16 cents and non-flow-through units priced at eight cents with a full warrant priced at 16 cents. Each full warrant will entitle the holder to purchase an additional common share at a price of 16 cents for a period of 24 months from the date of closing of the private placement.

This private placement is being offered on a non-brokered basis and the units will be subject to a statutory hold period of four months and one day from the closing date of the offering. The company may pay a finder's fee on a portion of the gross proceeds of the private placement. The offering remains subject to regulatory approval.

The company intends to use the net proceeds of the offering to conduct drilling on its Wishore property in the Red Lake area in Ontario and groundwork to identify drill targets on its rare earth element properties in Quebec and for general working capital.

About Golden Goliath Resources Ltd.

Golden Goliath is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The company is focused on exploring and developing four rare earth element properties in Quebec and two gold properties in the Red Lake and Sault Ste. Marie mining districts of Ontario. The company also holds a 100-per-cent interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as net smelter return royalties on seven other nearby properties.

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