High Grade Gold & Silver Discoveries at Uruachic

VANCOUVER, BC - Golden Goliath Resources Ltd. reported that diamond drilling and underground work at it's 100% owned Uruachic Camp continue to provide encouraging results with the new discovery of a potentially large mineralized structure at San Timoteo and the systematic enlargement of a recently defined gold/silver manto zone at the Company's Las Bolas target. Early-in drill results at the newly discovered Sucursal structure at San Timoteo have returned gold equivalent values of 5.93 gms/tonne over a core length of 4.6 meters (0.59 Au gms/tonne and 267 Ag gms/tonne) including a gold equivalent value of 14.56 gms/tonne over 1.05 meters (0.46 Au gms/tonne and 705 Ag gms/tonne). Gold equivalent values calculated using a 50:1 silver to gold ratio.
Both San Timoteo and Las Bolas are priority target zones of the Company's district sized Uruachic Camp property (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.
While the majority of the 2008 Summer drilling campaign at San Timoteo has been focused on delineating and expanding the known mineralized structure anchored by the historic San Martin tunnel workings, the Company has discovered a new precious metal anomalous zone located approximately 750 meters north of San Martin which has been named the Sucursal structure. This new mineralized discovery, which appears to be a large southwest to northeast corridor approximately 80 meters below surface has returned assay values of 11.3 metres of 0.41 gms/tonne gold and 142gms/tonne silver, including a section of 4.61 metres grading 0.59 gms/tonne gold and 267 gms/tonne silver which in turn includes a 1.05 meter section grading 0.46 gms/tonne gold and 705 gms/tonne silver (gold equivalent value of 14.56 gms/tonne Au at a 50:1 silver/gold ratio). Lead (Pb) and Zinc (Zn) assays for SU-08-01 are still pending at this time.
The Sucursal structure is exposed on surface and is open at both depth and to the east with numerous tunnels and evidence of historic workings along strike, including the Las Animas mineralized structure which is located approx 780 m to the west). The company is waiting for final results for drill holes SU-08-02 (drilled to insersect mineralized zone approx. 70m to the west of SU-08-01) and SU-08-06 (drilled to insersect mineralized zone approx. 50 m to the east of SU-08-01. Preliminary gold assays of SU-08-02 are encouraging. Golden Goliath is currently drilling 50 meter offset drill holes to the east of the Sucursal structure to investigate the open pit minable tonnage potential of the structure.
Apart from drilling, previously reported underground sampling within the San Martin tunnel in 2008 have returned excellent results to date, including: 20 m grading 5.96 gms gold/tonne and 202 gms/tonne silver; 10 m grading 6.72 gms/tonne gold with 142 gms/ tonne silver; and 4.5 m grading 1.01 gms/tonne gold and 1,545 gms/tonne silver (gold equivalent value of 31.91 gms gold/tonne or 1+ oz gold per tonne).
The company's address is Suite #711 675 West Hastings Street, Vancouver, BC V6B 1N2, (604) 682-2950, fax: (604) 685-3764, email: [email protected].