Golden Goliath Launches Program at Manicouagan Project

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Vancouver, British Columbia--(Newsfile Corp. - November 15, 2023) - Golden Goliath Resources Ltd. (TSXV: GNG ) (OTC Pink: GGTHF) (FSE: GGZ) Golden Goliath Resources is pleased to report on the interpretation of the geophysics survey completed on their Ernest and Victory 21 properties near the Manicouagan impact crater in central Quebec. The interpretation was completed by Jean-M Hubert, eng.

The Manicouagan Project consists of four properties covering anomalous Rare Earth Element occurrences just to the south of the Manicouagan impact crater. The initial program consisted of ground geophysics, geology, and geochemistry to identify the source of lake sediment anomalies and to assess previous anomalous rock samples.

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Figure 1: Manicouagan Project To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4761/187442_5c36c191645d8b7e_002full.jpg

The rock and till sampling program reported on October 12 news release, confirmed the presence of anomalous values in most of the rare earth elements along with Rubidium, Strontium, Thorium, and Zirconium. Mapping found significant thicknesses and generations of pegmatites intruding into the host gniess and granites.

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Fig 2 Ernest Property: Radiometric analysis identifying high priority anomalies (letters) and other areas of interest (red circles) To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4761/187442_5c36c191645d8b7e_003full.jpg

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Fig 3 Victory 21Property: Radiometric analysis identifying high priority anomalies (letters) and other areas of interest (red circles) To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4761/187442_5c36c191645d8b7e_004full.jpg

On the Ernest property the interpretation of the geophysics data identified 10 high priority anomalies and another 30 anomalies of interest. On the Victory 21 property 14 high priority targets were identified with a further 9 anomalies of interest. In the report Jean-M Hubert notes that the anomalies of interest may be as significant as the high priority anomalies but may be masked by overburden.

Starting in late November Golden Goliath will be conducting a detailed drone magnetics survey to outline the units responsible for the anomalous geophysics. In late spring 2024, the Company intends to conduct a trenching and stripping program to expose and sample the anomalous units.

With the success of the geophysics survey on Ernest and Victory 21 a geophysics program is planned for the other two Manicouagan projects, Bedard and Citadelle, as soon as conditions allow.

Golden Goliath CEO Paul Sorbara said, "The report by Jean-M Hubert confirms the excellent potential of these two properties. The drone MAG survey should also be very helpful. I am confident that we will see similar results from Bedard and Citadelle once we can do the surveys there."

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.sedarplus.ca). 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187442

SOURCE Golden Goliath Resources Ltd.

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