Golden Goliath Raises $1.3 Million for Exploration Drilling on Wish Ore Property

Golden Goliath Resources (OTCPK: GGTHF) has announced a private placement of up to $1.3M. The net proceeds will be used to fund drilling on the Wish Ore Property in Ontario, among other initiatives. The financing will consist of non flow-through units priced at $0.05 with a full warrant entitling the holder to purchase an additional common share for $0.10. The company had previously announced a financing on Jan 17, but has since decided not to proceed due to market conditions.

Golden Goliath Resources Announces $1.3 Million Private Placement for Drilling Exploration

Toronto, Ontario - March 29, 2024 - Golden Goliath Resources Ltd. (GGTHF) announced today a non-brokered private placement offering of up to $1.3 million Canadian dollars through the issuance of non-flow-through units.

Each unit will be priced at $0.05 and will consist of one common share and one full warrant, with each warrant exercisable into one additional common share at a price of $0.10 per share for a period of two years from the closing date.

The net proceeds from the private placement will be utilized primarily for drilling exploration on the company's Wish Ore Property, located in the Sault Ste Marie area of Ontario. Additional uses may include general working capital and exploration activities on the company's other properties.

Golden Goliath President and CEO Paul Sorbara stated, "We are pleased to announce this private placement financing, which will provide us with the necessary capital to advance our exploration program at the Wish Ore Property. The property holds significant potential for the discovery of high-grade gold mineralization, and we believe that this drilling campaign will further enhance our understanding of the geological framework and mineralization system."

The company has determined not to proceed with a previously announced financing on January 17, 2024, due to prevailing market conditions.

The private placement is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

About Golden Goliath Resources Ltd.

Golden Goliath Resources Ltd. is a Canadian-based mineral exploration company engaged in the acquisition, exploration, and development of precious and base metal properties. The company's primary focus is on gold exploration in the Abitibi Greenstone Belt in Ontario, one of the world's most prolific gold-producing regions.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements, which are based on the company's current expectations and assumptions regarding future events. Forward-looking statements are subject to significant risks and uncertainties, and actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, as they involve assumptions that may not materialize and are subject to risks and uncertainties, such as those described in the company's continuous disclosure documents filed with the applicable Canadian securities regulatory authorities. The company does not undertake any obligation to revise or update any forward-looking statements, except as required by applicable law.