Broad GOLD Zones Discovered at Golden Goliaths Wish ORE Property

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TSX.V:GNG

www.goldengoliath.com

BROAD GOLD ZONES DISCOVERED AT GOLDEN GOLIATHS

WISH ORE PROPERTY

Vancouver, January 18 2023, Golden Goliath Resources Ltd. (TSX.V GNG ) (US:

GGTH-F) (Frankfurt: GGZ)

Golden Goliath is pleased to report on the results of the preliminary drill

program at its 100% owned Wish Ore prospect north o f Sault Ste. Marie,

Ontario. The program targeted the two main showings on the property and

IP chargeability with coincident gold geochemical a nomalies near the

showings.

Figure 1: Regional Map of Wish Ore Property

Four drill holes totaling 583 meters were completed to provide Golden

Goliath geologists a better understanding of the ge ology, structures and

alteration associated with the known gold values. A ll four holes intersected

sheared and altered mafic to intermediate volcanics with variable amounts

of intermixed meta sediments restricted to the Trench Zone. The New Zone

has shown encouraging quartz veining structures con sistent with the ones

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mapped in the historical work, with sulfide content varied from trace to 5%

associated with silicification and quartz carbonate alteration. The holes in

the Trench Zone revealed interesting folded sections, with quartz carbonate

veining in the hinge zone vicinities returning anom alous gold values, as

well as deformed quartz chlorite carbonate veins as sociated with

chalcopyrite mineralization.

Figure 2: Wish Ore Property 2022 Drill Holes in Relation to Shear Zones and High Stress Areas

Broad intersections of anomalous gold values were returned. Including 16m

with a high of 0.388 gpt over 4 meters, 23m with a high of 0.885 gpt over 4

meters, and 15m with a high of 0.883 gpt over 6m al l from W22-01. From

W22-04 over 3km along strike to the northeast retur ned 41m with a high of

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0.705 over one meter, and 23m with a high of 1.125g pt over one meter.

Some of the best looking intervals seen in the logg ing process were found

in W22-02. These many have been compromised by the core shack fire

despite the success of recovering representative samples from the drill hole.

The Wish Ore property is over 13 km long and hosts a high strain zone that

is about 6 km long and up to one km wide. Numerous gold showings have

been found on surface with grab samples up to 25 gp t and channel

samples up to 9 gpt over 1 m. This large zone has n ever been drilled

before the current program and affords an excellent exploration target.

Location and access are excellent.

Figure 3: Wish Ore Main Gold Showings

Golden Goliath CEO Paul Sorbara stated, “I am impressed with the scale of

the mineralized system and extensive carbonate alte ration at Wish Ore.

We have more than 6km of strike length on the miner alized high strain

zone within the volcanic package, with significant widths of anomalous gold

values. We will now be taking what we have learned along with our

airborne geophysics and mapping that we have comple ted and integrate

that with the results from our preliminary drill pr ogram to formulate our plan

for the next round of drilling.”

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This news release has been reviewed by Gordon MacKa y, P.Geo., who is

acting as QP under the NI 43-101 requirements.

On behalf of the Board of Directors

Paul Sorbara, MSc, PGeo

CEO, Golden Goliath Resources Ltd.

About Golden Goliath

Golden Goliath Resources Ltd. is a junior explorati on company listed on the TSX Venture

Exchange (symbol GNG). The Company is focused on ex ploring and developing the gold and

silver potential of properties in the Red Lake Dist rict of Ontario. The Company also holds a

100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of

northwestern Mexico, as well as NSR royalties on several other nearby properties.

To find out more about Golden Goliath visit our website at www.goldengoliath.com .

Cautionary Statements Regarding Forward Looking Information

Certain statements included herein may constitute “ forward-looking statements”. All statements

included in this press release that address future events, conditions or results, including in

connection with exploration activity, future acquis itions and any financing, are forward-looking

statements. These forward-looking statements can be identified by the use of words such as

“may”, “must”, “plan”, “believe”, “expect”, “estima te”, “think”, “continue”, “should”, “will”, “could” ,

“intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These

forward-looking statements are based on certain ass umptions and analyses made by

management in light of their experiences and their perception of historical trends, current

conditions and expected future developments, as wel l as other factors they believe are

appropriate in the circumstances. These statements are subject to risks, uncertainties and

assumptions, including those mentioned in the Compa ny’s continuous disclosure documents,

which can be found under its profile on SEDAR ( www.sedar.com ). Many of such risks and

uncertainties are outside the control of the Compan y and could cause actual results to differ

materially from those expressed or implied by such forward-looking statements. In making such

forward-looking statements, management has relied u pon a number of material factors and

assumptions, on the basis of currently available information, for which there is no insurance that

such information will prove accurate. All forward-l ooking statements are expressly qualified in

their entirety by the cautionary statements set forth above. The Company is under no obligation,

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and expressly disclaims any intention or obligation , to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise, except as

expressly required by applicable law.

FOR MORE INFORMATION CONTACT:

Golden Goliath Resources Ltd.

J. Paul Sorbara, M.Sc., P.Geo

President & CEO

Phone: +1(604) 682-2950 Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in

the policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accura cy of this

release.