Claims

The Chamizal property consists of two claims, Chamizal Este and Chamizal Oeste, which cover an area of
689.00 hectares.

Exploration Program

The Chamizal property, which is outside of the Uruachic camp and the Sierra Madre Occidental, has not had extensive exploration work to date. Surface and underground mapping, as well as preliminary geochemical sampling has been conducted, but no geophysical surveys have been completed. Chamizal was recently optioned to Comstock Capital. The agreement grants Comstock Capital the right to earn a 60% interest in the property. In order to exercise the El Chamizal Option, Comstock Capital shall spend $200,000 in work expenditures on the El Chamizal Property over a period of three (3) years or less and also issue a total of 150,000 shares to Golden Goliath once the company goes public over three (3) years. 25,000 shares to be issued on listing on a stock exchange, 50,000 shares on the date which is 12 months after the date of listing and 75,000 shares on the date which is 24 months after listing. Once Comstock Capital has earned its interest a joint venture will be formed.

This allows for the exploration and development of the property while allowing Golden goliath to focus its exploration efforts on the Uruahcic camp.

Geology

The Chamizal property is not in the Uruachic camp. This property is part of a potentially very important massive play located 85 kilometers south-southwest of the city of Chihuahua in central Chihuahua State. This region hosts the famous Santa Eulalia and Naica mining districts which have carbonate hosted, massive Pb-Zn-Ag mineralization.

The Santa Eulalia district, located 90 kilometres northeast of Chamizal, has a mining history dating back to the late 1500's. In modern times, over 40 million tonnes of 15% Pb-Zn, up to 1% Cu and 10.28 oz/ton Ag has been produced. The Naica district, located 65 km east of Chamizal, has produced in excess of 23 million tons at a grade of 5.5% Pb, 4.3% Zn, 0.34% Cu, 5.69 oz Ag/ton and 0.01 oz Au/ton.

The Chamizal property is underlain by the same limestone formation that hosts the mineralization at Santa Eulalia and Naica, and has old mine workings in both the northeast and southwest portion of the property. The southwestern workings comprise two tunnels that total more than 400 metres in length and contain large stopes where replacement style Pb-Zn-Ag mineralization has been mined.

Location & Map The Chamizal property lies in central Chihuahua, approximately 80 kilometres west of the famous Naica Pb-Zn-Ag mine, and about 80 kilometres southwest of the famous Santa Eulalia Pb-Zn-Ag mine. Drilling Results Despite the presence of two sizable adits with stopes and one shaft attesting to past mine production, there is no record of any drilling ever having been done on the Chamizal property.

A claim adjacent to west of Chamizal, called Koala, was explored by Consolidated Magna Ventures in 1996. A Real Section Induced Polarization survey carried out on the Koala property for Consolidated Magna by Quantec Geophysics outlined a 1000 x 800 metre anomaly attributed to massive sulphide mineralization, which is coincident with intense alteration and geochemical anomalies, that trends and is open to the southeast directly towards the underground workings on the southwest portion of the Chamizal property.Diamond drilling of 8 holes in 1998 on the Koala property encountered oxide and sulphide lead-zinc-silver mineralization associated with extensive alteration, veining and intrusive sills. These holes all returned highly anomalous base metal values. The sill-related type of mineralization appears to be similar to the manto style observed at the Santa Eulalia West Camp deposits, whereas the siliceous lenses observed at Koala look like the chimney- style mineralization at Naica.