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Message: Golden Goliath's Las Bolas Property Yields High Grade Gold and Silver Results

Golden Goliath's Las Bolas Property Yields High Grade Gold and Silver Results

posted on Apr 15, 2009 12:56PM
April 15, 2009
Infill Sampling Program at Golden Goliath's Las Bolas Property Yields High Grade Gold and Silver Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is pleased to announce 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. 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, which are tabulated below, as they will have a positive impact on the resource calculation.

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                                                          Weighted Average
          Zone     FW      HW     Gold   Silver             Gold    Silver
Sample     (cm)   (ii)   (iii)     gms/     gms/   Width     gms/      gms/
Number      (i)   (cm)    (cm)   tonne    tonne  (metres)  tonne     tonne
--------------------------------------------------------------------------
584370             80             1.84    1,455
-----------------------------------------------
584371     148                    8.35      641     2.99    4.73       760
-----------------------------------------------
584372                     71     0.43      223
--------------------------------------------------------------------------
584373             74             0.31      416
-----------------------------------------------
584374      76                    5.21    3,890     2.06    2.37     1,861
-----------------------------------------------
584375                     56     1.22    1,015
--------------------------------------------------------------------------
584376     100                    6.78      364      1.0    6.78       364
--------------------------------------------------------------------------
584377             58             3.55      262
-----------------------------------------------
584378     134                    6.58      291     2.48    4.41       221
-----------------------------------------------
584379                     56     0.12       12
--------------------------------------------------------------------------
584380             68             0.08       10
-----------------------------------------------
584381     120                    0.32       14     2.92    0.29        15
-----------------------------------------------
584382                    104      0.4       19
--------------------------------------------------------------------------
584383             90             0.15       18
-----------------------------------------------
584384      61                    0.59       36
-----------------------------------------------     3.55    0.18        21
584385                     69     0.05        9
-----------------------------------------------
584386             64             0.16       46
--------------------------------------------------------------------------
584387                     71     0.16        8
-----------------------------------------------
584388      86                    0.05        6     2.23    0.09         9
-----------------------------------------------
584389             66             0.05       14
--------------------------------------------------------------------------
584390             80             0.05        5
-----------------------------------------------     2.07    0.05         6
584391     127                    0.05        6
--------------------------------------------------------------------------
584392      81                    0.05        5
-----------------------------------------------
584393      84                    0.28        6     2.66    0.12         5
-----------------------------------------------
584394     101                    0.05        5
--------------------------------------------------------------------------
584395             75             0.48      885
-----------------------------------------------
584396      50                     1.2    1,500     1.85    0.70       862
-----------------------------------------------
584397                     60     0.56      302
--------------------------------------------------------------------------
584398             60             0.12       23
-----------------------------------------------      1.6    0.15        41
584399     100                    0.16       52
--------------------------------------------------------------------------
584400     103                    0.68      599
-----------------------------------------------
584401                     76     0.39    1,320
-----------------------------------------------     3.29    0.57     1,313
584402      60                    0.83    2,720
-----------------------------------------------
584403             90             0.44    1,185
--------------------------------------------------------------------------
584404             70             0.12      164
-----------------------------------------------
584405      50                    1.28    2,310      2.4    0.34       579
-----------------------------------------------
584406                    120     0.08       99
--------------------------------------------------------------------------
584407            100             0.69    2,150
-----------------------------------------------
584408      75                    7.49    1,675
-----------------------------------------------
584409      60                    1.88    4,230     3.95    2.14     2,119
-----------------------------------------------
584410                     80      0.9    1,735
-----------------------------------------------
584411                     80     0.39    1,295
--------------------------------------------------------------------------
584412      80                    0.24      994
-----------------------------------------------      1.7    0.18       691
584413                     90     0.12      422
--------------------------------------------------------------------------
584414             75             0.52      451
-----------------------------------------------
584415      90                    0.05       36     2.55    0.21       188
-----------------------------------------------
584416                     90     0.12      121
--------------------------------------------------------------------------
584417             60              0.2      378
-----------------------------------------------
584418      80                     1.1      289      2.1    0.49       227
-----------------------------------------------
584419                     70     0.05       28
--------------------------------------------------------------------------
584420      85                    0.85    4,740     0.85    0.85     4,740
--------------------------------------------------------------------------
584421             65             0.77      439
-----------------------------------------------
584422      65                     0.6      544
-----------------------------------------------      3.1    3.41       589
584423                    130     5.59      620
-----------------------------------------------
584424             50             4.82      761
--------------------------------------------------------------------------
584425             50             0.08      541
-----------------------------------------------
584426      65                    0.28    1,535
-----------------------------------------------     2.25    0.64       780
584427      50                    1.04      437
-----------------------------------------------
584428                     60     1.15      448
--------------------------------------------------------------------------
584429                     65     1.38    1,050
-----------------------------------------------
584430     105                    4.47      845      2.2    2.57       736
-----------------------------------------------
584431             50             0.12       98
--------------------------------------------------------------------------
584432             60             0.05       67
-----------------------------------------------
584433     150                   11.15      942      2.6    6.49       572
-----------------------------------------------
584434             50             0.24       66
--------------------------------------------------------------------------
584435                     65     0.05       59
-----------------------------------------------
584436      70                    3.15      760     2.05    1.57       412
-----------------------------------------------
584437             70             1.39      391
--------------------------------------------------------------------------
584438      72                    0.43      325
-----------------------------------------------     1.72    0.51       409
584439     100                    0.56      470
--------------------------------------------------------------------------
584440     103                     0.2      407
-----------------------------------------------     1.93    0.20       309
584441             90              0.2      197
--------------------------------------------------------------------------
584442             30             0.08       43
-----------------------------------------------
584443      80                    1.16      582     1.84    0.90     1,012
-----------------------------------------------
584444                     74     0.95    1,870
--------------------------------------------------------------------------
584445            100             0.05      144
-----------------------------------------------      1.8    0.06       154
584446      80                    0.08      167
--------------------------------------------------------------------------
584447     105                    0.08      206     1.05    0.08       206
--------------------------------------------------------------------------
(cm)(i) equals centimeter, 
FW(ii) equals Footwall,
HW(iii) equals Hangingwall
The Company is continuing with underground work and should have the Station 37 assays soon. It is also expected that the current results and the resource inventory report will assist the Company in developing its next set of drill targets, designed to expand the high grade silver and gold zones within Las Bolas, by highlighting areas which can most easily add mineralized tonnage to the future exploration programs. Both the Las Bolas and San Timoteo project areas are priority target zones within the Company's district sized Uruachic Camp (a 15 km x 25 km region) which surrounds the historic mining village of Uruachic in the mineral rich Sierra Madre mountains of Chihuahua, Mexico.

About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). Assays are done using traditional methods at Inspectorate Labs and Chemex Labs. The Qualified Person for the Uruachic project is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
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