Rock Sampling, Geophysics and Mapping at Wish Ore Defines Widespread Gold Mineralization and Open-Ended Trends. Additional Claims Added to Property

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2019) - Golden Goliath Resources Ltd. (TSXV: GNG) (OTC: GGTHF)

Results from the recent rock sampling, geophysical surveying and mapping programs at the Wish Ore property have shown that gold mineralization is widespread, open and may be related to breaks in an important contact defined by magnetics.

The Wish Ore project is hosted by an altered and structurally complex section of the under explored metal-bearing Archean-aged Batchewana Greenstone Belt.

Compilation of regional and local magnetic data shows breaks in the northeast trending zone that are associated with higher grade gold values. Final results from more detailed ground magnetic surveys conducted by the Company are still pending.

Wish Ore Continued Mineralization and Additional Claims

Figure 1: Wish Ore Property showing new East extension and mineralized zone.

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The break in the magnetics corresponds to the northwest trending structures that cut the contact of an iron formation unit to the north and the mafic to felsic tuffs. This contact appears to be the focus of the main east-northeast trending shear zone that has been shown to host the intense iron quartz carbonate alteration that is associated with the gold mineralization. The contact, associated shearing and intense alteration has been traced for over 6 kilometres on the property.

Figure 2: New Extension covers continued mineralization and a significant break in the aero-magnetic data.

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Significant gold results include previously released grab samples of 25.57, 17.10, 13.73, and 12.24 g/t and channel samples 4.27 g/t over 3 meters including 9.05 over 1 meter, 9.14 g/t over 0.6 meters. New results from recent sampling include 3.83 g/t over 0.5 meters and 1.52 over 0.8 meters.

As a result of this work the Company has added an additional 25 cell claims to the Wish Ore property. The new claims cover the eastern extension of the mineralized trend and a significant break in the regional magnetics data.

A new discovery of mineralized boulders on the trend between the New Zone and the Trench Zone returned values over 0.5 g/t demonstrating a continuation of mineralization along the trend.

Figure 3: Mineralized Boulders demonstrating continued mineralization.

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The 6 kilometre long contact, which is associated with shearing and intense alteration, appears to be the focus of the main east-northeast trending shear zone that has been shown to host the intense iron quartz carbonate alteration that is associated with the gold mineralization. Significant gold results include previously released grab samples of 25.57, 17.10, 13.73, and 12.24 g/t and channel samples 4.27 g/t over 3 meters including 9.05 over 1 meter, 9.14 g/t over 0.6 meters. New results from recent sampling include 3.83 g/t over 0.5 meters and 1.52 over 0.8 meters. A new discovery of mineralized boulders on the trend between the New Zone and the Trench Zone returned values over 0.5 g/t demonstrating a continuation of mineralization along the trend.

Figure 4: Loydex mineralization with gold values.

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Golden Goliath has also completed an IP survey over two focused grids 3 kilometers apart along the trend (GNG Sept 4th News Release). Ground follow-up, prospecting and mapping of the strong IP anomalies will be planned as soon as the results of the detailed ground magnetic survey over the grids has been received and assessed.

Golden Goliath CEO Paul Sorbara says, "Our new discoveries on the Wish Ore property have extended the area of known gold mineralization to approximately 6 kilometers along strike. Although the western Loydex showing was not found to be high grade (1.52 g/t gold over 0.8 meters), the abundance of lower grade channel samples is very encouraging and averaged 0.42 g/t gold in 20 channel samples on the showing. It is also very important that the mineralized, newly stripped zone is open in all directions. Similarly, the mineralized boulders on the east side of the property were found 400 meters apart indicating the possibility of a widespread source of the mineralization. I am very encouraged by these latest results."

About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person ("QP")for the information regarding Ontario properties is J. Paul Sorbara M.Sc., P.Geo. The QP has approved the scientific and technical disclosure in the news release.

The Company is focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario. The Company also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on several other nearby properties, and 100% of the La Cruz property, also in Chihuahua.

To find out more about Golden Goliath visit our website at www.goldengoliath.com.

FOR MORE INFORMATION CONTACT:

Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950 Email:jps@goldengoliath.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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