Mr. Maki Petkovski reports

GOLDEN GOLIATH CLOSES PRIVATE PLACEMENT

Golden Goliath Resources Ltd. has closed its private placement announced on Oct. 26. The financing comprises three million units issued at a price of 5.5 cents for gross proceeds of $165,000.

The private placement will include participation by related parties to the company. The participation in the placement by these related parties constitutes a related party transaction (as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions). The company relies upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than $2,500,000" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

The company intends to use the proceeds of the offering to progress the exploration campaign in the company's partnership in Egypt and for general working capital.

About Golden Goliath Resources Ltd.

Golden Goliath is a junior exploration company based in Vancouver, B.C., focused on the exploration and development of precious metal properties in mining-friendly jurisdictions. The company is actively exploring its projects in Ontario's Red Lake district and other high-potential areas in Canada and has recently expanded internationally acquiring a partnership and operatorship of a development project in Egypt's Eastern Desert.

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