Mr. Maki Petkovski reports

GOLDEN GOLIATH ACQUIRES A 40% INTEREST IN UM GARAYAT BLOCK B AND BLOCK D

Golden Goliath Resources Ltd. has executed a joint venture agreement with Imex International SAE and Nexgold International Mining Company to explore and develop the Um Garayat Block B and Block D concessions in Wadi Al-Alaqi in the Eastern Desert in the Republic of Egypt. Golden Goliath and Nexgold will be responsible for all operating and capital costs while Nexgold will act as the in-country operator on behalf of the joint venture. The Um Garayat Block B and Block D partnership is composed of Imex 50 per cent, Golden Goliath 40 per cent and Nexgold with 10 per cent.

Imex International is a leading commodity trading company in Egypt. Imex is one of the largest petroleum and natural gas traders in Egypt. In recent years Imex has built a substantial position trading Egyptian phosphate. Imex's precious metal mining footprint includes the Umm Garayat Block B and D concessions, representing the company's expansion into gold exploration and production.

The Um Garayat Block B and Block D concessions are highly prospective for gold. There has been a long, at least, 4,000-year history of mining in this area dating back to the times of the Pharaohs. Most recent mining activities include artisanal gold production and limited commercial mining that began in the early 20th century but was suspended during the 1950s. The combined area covered by these blocks is approximately 245 square kilometres, having easy access, by sealed road, and located about 150 kilometres from the regional capital, Aswan. The partnership intends to review the current artisanal mining operations to determine how best to expand these and to undertake an exploration campaign across the rest of concessions over the coming years.

The Um Garayat concessions are located in southern Egypt in Wadi Allaqi, a prolific gold-hosting region of upper Egypt. The Um Garayat blocks contain both extensive alluvial gold and hardrock deposits, which are currently being mined by local companies using traditional artisanal mining techniques. The area also shows extensive historical mining activities including adits, shafts, dumps and tailings primarily dating back to the beginning of the 20th century. There are a number of important gold deposits contained within the concessions: the Um Garayat Heimur, and Nile Valley historic gold mines. Gold mineralization here occurs as nests and pockets within and associated with gold-bearing quartz veins that have been worked at depth from eight inclined and vertical shafts and wings linked together by levels driven laterally at depths of 32, 60 and 96 metres.

The agreement is considered a related-party transaction pursuant to Multilateral Instrument 61-101 as the company's chief executive officer, Maki Petkovski, is a director and officer of Nexgold. The agreement is exempt from the need to obtain minority shareholder approval and a formal valuation as required by and under applicable provisions of MI 61-101 as each party will share pro rata in the partnership.

"The addition of these exploration blocks to our portfolio increases our opportunities within this highly prospective gold-producing province. Furthermore, it is an honour to join Imex as their strategic partner and operator of choice within the Egyptian mining sector," said Golden Goliath chief executive officer Mr. Petkovski.

The scientific and technical content of this news release has been reviewed and approved by Mr. Petkovski, a qualified person as defined by National Instrument 43-101.

About Golden Goliath Resources Ltd.

Golden Goliath is an exploration company based in Vancouver, B.C., focused on the exploration and development of precious metal properties in mining-friendly jurisdictions. The company has its projects in Ontario's Red Lake district, other high-potential areas in Canada and the Republic of Egypt.

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