Mr. Maki Petkovski reports

GOLDEN GOLIATH CLOSES PRIVATE PLACEMENT

Golden Goliath Resources Ltd. has closed its private placement announced on Aug. 11. The financing was composed of 6,104,837 units issued at a price of 10 cents for gross proceeds of $610,472. Each unit is composed of one common share and one whole warrant entitling the holder to purchase one additional common share for a period of 12 months at a price of 12 cents. All securities issued under this private placement will be subject to a hold period for four months and a day in accordance with applicable securities laws.

The company paid a brokerage and finder's fee to Clarence Financial Pty. Ltd. of $16,023 in cash and 160,241 warrants having the same terms as the warrants under the units.

The private placement will include participation by insiders of the company in an amount of one million units. The participation in the placement by these insiders 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 $2.5-million exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

The company intends to use the net proceeds of the offering to progress the exploration campaign, soil sampling and installation of infrastructure for planned pilot production 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.

We seek Safe Harbor.