Golden Goliath Identifies High Priority Exploration Targets on Wish Ore Property

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2022) - Golden Goliath Resources Ltd. (TSXV: GNG) (OTC Pink: GGTHF) (FSE: GGZ) Golden Goliath Resources is pleased to report that the Company has received the final interpretation on the airborne geophysics survey that was flown on our Wish Ore project last season.

The Company holds 100% ownership of the Wish Ore property, located in the Batchewana Bay area between Sault Ste Marie and Wawa Ontario. Part of the 2021 exploration work on Wish Ore included an airborne Mag and VLF-EM survey. Peter Diorio, P.Geo. of GeophysicsOne Inc., was contracted to do this interpretation and compile its results with the existing property data.

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Figure 1: Regional Overview of GNG Wishore Property

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The excellent work by Mr. Diorio has identified 19 Areas of Interest (AOIs) for follow-up. While all of the anomalies look very encouraging, the most exciting of these are AOI 4 and AOI 8 which are located adjacent to known gold mineralization on the property at the Trench zone and the New Zone. AOI 1 and AOI 15 show large-scale potential as they appear to be associated with a 700 meter zone of interpreted flexure along the deep seated Carp River fault and the intersection of a northwest trending structure. AOI 13 is also an anomaly near the junction of the Carp River Fault and a northwest trending structure. Prospecting in 2019 identified large angular mineralized boulders 200 meters down ice southwest of this anomaly. In the underexplored southwest end of the property AOI 7 consists of an anomalous northwest trending mag low which cuts three east west trending mag highs. The area of the mag low is associated with VLF conductors and interpreted structures. This is interpreted to represent an area of alteration where magnetic minerals were destroyed by the alteration similar to what is seen in the areas of intense quartz carbonate alteration elsewhere on the property.

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Figure 2: Areas of Interest with Qtz carbonate zones on image of VLF Amplitude (Cutler, Maine) from Terraquest survey

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The company is now working with our key advisors to put together an exploration plan to test these targets.

Golden Goliath CEO Paul Sorbara PGeo comments: "Our previous work on this property has shown widespread gold mineralization. This new geophysics gives us the tools to focus our search on some very exiting targets."

This news release has been reviewed by Gordon MacKay, P.Geo. who is acting as QP under the NI 43-101 requirements.

On behalf of the Board of Directors

Paul Sorbara, MSc, PGeo

CEO, Golden Goliath Resources Ltd.

About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). 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.

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

Cautionary Statements Regarding Forward Looking Information

Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate" or "future" or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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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