Sampling Program at Las Bolas Yields High Grade Gold

VANCOUVER, BC - Golden Goliath Resources Ltd. reported that a comprehensive series of infill chip samples taken within the Las Bolas mine tunnel have returned very encouraging results. The recently assayed samples have returned gold values as high as 11.15 grams/tonne gold, and as high as 4,740 grams/tonne silver. This infill sampling program is part of the Company’s ongoing mineral inventory estimation, which is being conducted to document mineral values for a select number of Golden Goliath’s exploration projects within the 100% owned Uruachic Camp, in Chihuahua, Mexico. The mineral inventory estimation is proceeding on schedule and is being completed under the supervision of an independent qualified person pursuant to NI 43-101 standards.
In addition to the infill sampling program, Golden Goliath’s exploration team has been completing highly detailed maps of the Las Bolas tunnel region at the request of the independent consultant administering the inventory report. There have been a total of 134 new chip samples collected from two of the mineralized zones within the Las Bolas mine (Station 19 and Station 37). It is important to note that these assay results are not repeats of previous chip samples, but comprise new information. The first set of assay results, which are only for Station 19, show the presence of high grade silver and gold mineralization not only in the structure, but in its hangingwall and footwall as well. The main portion of Station 19 covers a length of approximately 45 metres in the Las Bolas tunnel, approximately 60 metres below the surface, with a parallel zone 11 metres to the north that is exposed for a length of 20 metres. The high grade gold mineralization in station 19, up to 11.15 grams/tonne, is of similar grade to that found in reverse circulation drill hole B-04-3, which returned a 12.3 metre section averaging 154 grams/tonne silver and 3.22 grams/tonne gold, including a 3.1 metre section, from 134 to 137.1 metres, averaging 515 grams/tonne silver and 11.1 grams/tonne gold. This drill hole is collared approximately 200 metres east of Station 19.
The weighted average of the 77 chip samples taken across the 45 metre extent of Station 19 is 3.6 grams/tonne gold and 842 grams/tonne silver. The Company is extremely pleased with these results as they will have a positive impact on the resource calculation.
The company’s address is Suite #711, 675 West Hastings Street, Vancouver, BC V6B 1N2, (604) 682-2950, fax: (604) 685-3764, email: [email protected].