LATEST PAYMENT RECEIVED FOR OPTIONED PROPERTIES
Vancouver, Canada, May 10, 2018 Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath Resources Ltd. (“The Company”) is pleased to announce that it has now received the latest option payment from Desarrollos Mineros El Aguila, S.A. de C.V. (“El Aguila”), a wholly owned subsidiary of Fresnillo plc, for the properties optioned to them by the Company in the Uruachic Mining District in the State of Chihuahua, Mexico (the “Properties”).
The US $100,000.00 payment is the sixth in a series of seven optional payments by El Aguila in order that it may exercise the option to acquire the Properties. The final payment of $US 2.3 Million would be due in November, 2018.
The funds from the current payment will be used for general working capital, Mexican property taxes, assessment work and to complete the drill target selection program. If El Aguila decides to exercise the option, a major drill program at the Golden Goliathʻs San Timoteo property could be funded by the final option payment, thereby avoiding a dilutive, share issue financing.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person for the information regarding Uruachic project is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Golden Goliath’s San Timoteo property claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.
FOR MORE INFORMATION CONTACT:
Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950 Email: email@example.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.