HISTORY & OVERVIEW

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 an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.

The Uruachic mining camp lies directly in the centre of the several hundred kilometre trend of important past producers and new discoveries that characterizes the Sierra Madre Occidental. This historic trend has
produced approximately 40 million ounces of gold and up to 2 billion ounces of silver over the last 400 years and has become an area of global focus in the search for new precious metal deposits.

The town of Uruachic was founded by two Spanish explorers in 1736 (see picture of tile plaque in Uruachic town Hall) and enjoyed a long period of prosperity from the production of gold and silver. The town even minted its own silver coins as legal currency. Historic production ended around the time of the Mexican Revolution, as was the case with many mines in Mexico. The Uruachic area is riddled with old mine workings, perhaps more than a hundred in all. Some are small, but some are very extensive and obviously had very significant production. These mines are hosted in some of the largest and most intense alteration zones to be found in the Sierra Madres. This alteration is associated with a collapsed caldera complex, which presents extremely attractive exploration targets for large gold and silver deposits around the world.

Golden Goliath also owns two other significant properties outside of the Uruachic Camp. One of these is a silver property called La Cruz, which is located on the eastern edge of the Sierra Madre Belt. La Cruz has several old mine workings and extensive old dumps, attesting to considerable past production. However the property has been inactive for at least 75 years and there are no available records of production or previous exploration drilling.

”Golden Goliath also owns  two other  significant  properties outside of the Uruachic Camp. One of these is a silver property called La Cruz, which is located on the eastern edge of the Sierra Madre Belt.  La Cruz has several old mine workings and extensive old dumps, attesting to considerable past production.  However the property has been inactive for at least 75 years and there are no available records of production or previous exploration drilling.

La Cruz gained the attention of well known international silver producer, Pan American Silver, and in September 2007, Golden Goliath signed an Option and Joint Venture Agreement with Pan American’s Mexican subsidiary.  Under the terms of the option agreement, Pan American Silver Corp’s Mexican subsidiary, Minera Corner Bay S.A. de C.V., has the right to earn a 60% interest in La Cruz by making cash payments totaling US $300,000 and spending US $450,000 on the property over a period of 3 years. The property will consist of: the Company’s La Cruz property; additional ground staked around the La Cruz property; and the La Cruzada property for which Pan American’s subsidiary already has an option. Golden Goliath will be responsible for 25% of the costs associated with La Cruzada. Upon Minera Corner Bay exercising its option, a 60/40 joint venture would proceed on the La Cruz and newly staked grounds, with Pan American having the right to earn an additional 15% by completing a feasibility study.

“We are extremely pleased with this agreement as it allows for the exploration and development of La Cruz by a very experienced and respected silver producer,” said Paul Sorbara, president of Golden Goliath. “This also allows our Company to continue our focus and exploration efforts on the major drilling campaign now underway at the Uruachic mining camp.”

Paul Sorbara, president of Golden Goliath said “This is a major milestone for Golden Goliath and its shareholders. We are very pleased to be working alongside Pan American during the exploration and development stage of our La Cruz property. Also, with Pan American taking the reins at La Cruz, we will continue to focus the majority of our attention and resources on our Uruachic Camp properties, where a major drilling program is underway with four drill rigs currently at work”.

The other exploration property that Golden Goliath owns is called Chamizal. This property differs from the others in that it is a lead, zinc, silver target and it lies outside of the Sierra Madre in central Chihuahua State. This region hosts two world famous lead, zinc, silver mines called Santa Eulalia and Naica. Together these two deposits have produced 60 million tonnes of ore grading 15% combined lead-zinc and 150 grams silver per tonne. At current metal prices that represents about US $6 billion! Both of these mines are hosted in the same geological formation and have the same style of alteration and mineralization.

The Chamizal property is hosted in the same geological formation and Santa Eulalia and Naica and also has the same style of alteration. Chamizal also has old workings that were used to produce lead, zinc and silver, and as in Uruachic, these workings have never been drilled.”

In May 2007, Golden Goliath entered into an option agreement with Comstock Capital Corp. on Golden Goliath’s Corona and Chamizal properties. Under the terms of the agreement Comstock Capital has the right to earn a 60% interest in the properties. 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.