Claims

The Corona property consists of six claims which total 850 hectares (2,100 acres) in size: Corona, Corona II, Corona III, Corona Norte, Corona Sur and La Esperanza.

Exploration Program

Four old working areas have been identified on the property to date.

An old east-west trending adit located within the Esperanza claim on the southern portion of the property. This adit was used to exploit a high-grade sulphide vein that has returned assays from underground of 12.43 gm gold/tonne, 2,634 gm silver/tonne, 8.35% lead, 3.84% copper and 1.59% zinc. A grab sample taken in 2001 returned 42 gm gold/tonne. The adit itself is approximately 30 metres long, but the geochemical anomaly on the surface above it is over 1000 metres long.

A very old collapsed shaft, lies in the Northeast part of the property. The shaft is at the eastern end of a 1000 metre long zone that is 75 to 100 metres wide which is open to the south along the width of the zone. Rock samples with values ranging from 1 to 16 gms gold have been found throughout this zone. Free gold can be panned from the soil on a hilltop about 75 metres west of the old shaft.

An old working — La Mula- lies in the northwestern part of the property on the Corona III claim. The shaft is at the eastern end of a 1000 metre long zone that is 75 to 100 metres wide which is open to the south along the width of the zone. Rock samples with values ranging from 1 to 16 gms gold have been found throughout this zone. Free gold can be panned from the soil on a hilltop about 75 metres west of the old shaft.

Small old workings are also found on the Corona II claim at the north end of the property. Corona was recently optioned to Comstock Capital. Under the terms of the agreement Comstock Capital has the right to earn a 60% interest in the Corona property, which lies in the northwest corner of the Uruachic mining camp in Chihuahua’s Sierra Madre Occidental mountain range. In order to exercise the Corona Option, Comstock Capital must spend $500,000 in work expenditures on the Corona Property over a period of three (3) years or less, of which at least $200,000 much be spent within one year of the date of the agreement, and also issue a total of 300,000 shares to Golden Goliath once the company goes public over three (3) years. 50,000 shares to be issued on listing on a stock exchange, 100,000 shares on the date which is 12 months after the date of listing and 150,000 shares on the date which is 24 months after listing. Once Comstock Capital has earned its interest a joint venture will be formed.  Comstock will have the right to earn an additional 15% interest by completing a feasibility study.

The Company is pleased with this agreement as it allows for the continuing exploration and development of this attractive property, while allowing Golden Goliath to focus its exploration efforts on the main portion of the Uruahic camp from its main base of operations there.

Geology

The Corona property covers an area of intensely altered volcanic rocks of the favourable Lower Volcanic Sequence that are cut by brecciated and altered intrusive rocks and are overlain by relatively thin section of the Upper Volcanc Sequence rhyolitic tuffs. Visible gold can be panned from the soil on a hilltop just south of the Northeast Zone, as well as from the Esperanza claim.

Location & Map Corona is located in the extreme northwest part of the Uruachic camp a few kilometers west of the town of Gosagachic. Drilling Results Northeast Zone Several, but not all, of the known zones of mineralization were tested and the Northeast Zone shows the most promise to date. This Zone is approximately 400 x 700 metres in size and confirmed the presence of widespread gold mineralization, averaging almost 1 gm gold/tonne.

Data compilation from the Northeast Zone drilling suggests that it could extend further to the east, covering an additional area of at least 400 x 400 m, which would give the overall zone a length of 1,100 metres.

The Northeast Zone appears to be made up of several down dropped blocks off set along the NE-SW trending, sub-parallel, structures. The zone is overlain by a thin, tuffaceous unit, which is also believed to have potential for mineralization, and potential stripping ratios seem very favourable.  Recent work to the north of the Zone has shown that this area also has untested potential.  The overlying Upper Volcanic rhyolitic rocks exhibit crackle brecciation and quartz flooding.  Anomalous gold values in soils are also found here.  There are examples of Lower Sequence mineralization flooding into the overlying rocks and the Northeast Zone may be another such case.  That also opens the possibility of a zone of concentrated precious metal mineralization caused by the pooling of hydrothermal fluids along the unconformity separating the two units.

La Mula

Five reverse circulation drill holes were completed on Corona's La Mula Zone, which lies approximately 1.5 kilometres northwest of the main drilling zone on the Northeast Zone and may well be genetically related to the it.  The objective of the drilling at the La Mula Zone is to extend this zone to the east, northeast and possibly to the west.

Satellite images show that La Mula is situated on a strong east-west lineament that crosses the Uruachic camp. Holes drilled near the old La Mula workings have already returned 19.84 metres grading 1.21 gm gold/tonne with 35.09 gm silver/tonne and 12.21 metres grading 1.59 gm gold/tonne with 31.46 gm silver/tonne.

Subsequent surface sampling 80 metres east of the old workings returned 2.57 gm gold/tonne and 2,280 gm silver/tonne in a mostly overburden covered area that has now been drill tested. The source of this surface mineralization still remains unknown.