Golden Goliath notes completion of rode at Kwai

Dec 15, 2020

2020-12-15 11:33 ET – News Release

Mr. Paul Sorbara reports

NEW ACCESS ROAD TO EAST AND CENTRAL GRIDS COMPLETED FOR GOLDEN GOLIATH ON KWAI PROPERTY, RED LAKE, ONTARIO

The new road that will allow proper access to the east and central grid areas of Golden Goliath Resources Ltd.’s Kwai property has now been completed. This was accomplished in partnership with the local forest management company taking advantage of their expertise and access requirements. The new access road turns off the main Dixie Lake Road and leads to the central part of the Kwai property, crossing several small streams and one larger stream that flows out of the east end of Beauregard Lake. From its terminus drill trails will lead to the planned drill targets on the east grid as well as those to the south of Beauregard Lake. The road will also facilitate access to the area northeast of the west grid where a northwest-southeast splay fault occurs that crosses the main Pakwash break. Drilling is also planned in that area.

The cost to the company for this road was $65,000 and this expense has already been included in the drill budget to date. Therefore, future drilling will cost less in total per metre.

The new road access will open up connections to over 17 drill sites on the eastern and central grids where both rusty tills have been found with numerous gold grains, as well as some of the strongest induced polarization anomalies on the property in the line 49-51E area. Hence the section from lines 2800E for another three to four kilometres eastward can now be reached, in addition to many parts of Beauregard Lake.

The company intends to start the IP survey over Beauregard Lake early in the new year and drilling will resume shortly after that when the drill company crews and equipment are ready.

Chief executive officer Paul Sorbara comments: “This is a good example of a win-win deal. The forestry company had the permits because this area is covered in their 10-year forest harvesting plan and they will eventually need the access. They also have the know-how and local knowledge, because they do this all the time. They do not need the road yet but agreed to build it now if we shared the cost with them. Cooperation for mutual benefit. The company looks forward to the resumption of drilling in the new year.”

This news release has been reviewed by Robert S. Middleton, PEng, who is acting as qualified person for this phase of the exploration under the National Instrument 43-101 requirements.

About Golden Goliath Resources Ltd.

Golden Goliath is a junior exploration company. 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-per-cent interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as net smelter return royalties on several other nearby properties.

We seek Safe Harbor.

https://www.goldengoliath.com/