Golden Goliath Drilling Discovers Mineralization in New Setting on Southern Anomaly Trend on Kwai Project, Red Lake, Ontario

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- Large section of Uchi volcanics incorporated into English River Sub Province Package

- Altered porphyry and basalt with disseminated pyrite zones and quartz intersected

Vancouver, British Columbia--(Newsfile Corp. - November 19, 2020) - Golden Goliath Resources Ltd. (TSXV: GNG ) (OTC Pink: GGTHF) (FSE: GGZ) The focus of the ongoing drill program on the west grid has moved from the northern trend of IP anomalies along the interpreted trend of the Pakwash Fault to the southern trend of IP anomalies and shear zones as announced in the November 10, 2020 news release. Two holes, K20-11 and K20-12, on line 200E have discovered a wide section of Uchi type basalts and porphyry within the English River Sub Province suite of rocks, which is a new phenomenon not known previously. Hole K20-12 (see figure 2) was drilled to 180m at -50 degrees north to test IP anomalies south of Hole K20-11. It intersected basalts and porphyry the whole length of the hole but was intruded by many pegmatite dikes and some granite, leaving over 75% of the hole in Uchi rocks. Hole K20-12 came below the collar of hole K20-11 which had Uchi basalts and porphyry in the upper part of that hole. Wide spread disseminated pyrite in these Uchi rocks explained some of the IP anomalies. Hole K20-11 had a 13m section of disseminated sulphides, whereas hole K20-12 had a 14m section which correlated to the IP anomalies on line 200E and also had wide spread disseminated sulphides in the remaining Uchi type rocks. Some pegmatites also contained disseminated pyrite which might have been picked up as they passed through Uchi rocks. The porphyry has been metamorphosed, however, the "robins egg blue" quartz was preserved (see photos on Company website).

A 40m section of sheared porphyry was encountered in the lower part of hole K20-11 as this hole passed into tuffaceous rocks seen in hole 06. Small segments of porphyry then re-appeared as the hole was being completed. There appears to be a metamorphic front defining the English River boundary with Uchi rocks where biotite is the dominant mica in English River and sericite mica is the hallmark of the Uchi rocks.

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Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4761/68549_8d5e9098349ad872_002full.jpg

This discovery opens up a large area of the property to further gold exploration in areas considered to be all English River rocks. Numerous anomalies occur on the eastern part of this 10 km long Kwai property that would fall into this category. Drilling is continuing on the south side of the West Grid.

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Figure 2: West Grid Completed and proposed Drill Holes

To view an enhanced version of Figure 2, please visit:
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This news release has been reviewed by Robert S. Middleton P.Eng who is acting as QP for this phase of the exploration under the NI 43-101 requirements.

On behalf of the Board of Directors

Paul Sorbara, MSc, PGeo

CEO, Golden Goliath Resources Ltd.

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: [email protected]

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68549

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