Private Placement Approved; Crews Mobilize
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
TSX.V:GNG
www.goldengoliath.com
Private Placement Approved; Crews Mobilize
Vancouver, June 2, 2020, Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
(Frankfurt: GGZ)
VANCOUVER, CANADA – June 2, 2020: Golden Goliath Resources Ltd.
(“Golden Goliath” or the “Company”) is very pleased to announce that the
recently announced private placement has now received the necessary
regulatory approvals. Originally planned for $350,000, the private
placement was increased to $450,000 due to demand and then again to
$500,000. The Company filed with the TSX on May 13th when it had
received subscriptions from 24 placees, including several Company
Insiders. The offerring closed at 9,960,000 Units at a price of $0.05 per
unit for gross proceeds of $498,000.00 . Two “Finders“ received a total of
$12,000.00 in Finders Fees.
The bulk of the net proceeds of the Offering will be used on the
Company‘s Kwai property in the Red lake district to complete the
approximatly 50 line kilometres of Induced Polarization survey that was
identified as a priority by the recent airborne geophysical survey and to
conduct a program of till sampling geochemistry on the property.
Preliminary IP lines surveyed last year yielded nine drill targets that have
already been permitted and this new work is expected to increase that
number.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
The Companyʻs geophysical advisor, independent geophysical engineer
Robert Middleton, BSc, MSc, P.Eng., commented on the 2019 IP targets
in a press release dated August 27, 2019.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
“The Induced polarization survey of the Kwai Property in Red Lake has
traced two major shear Zones across the length of the grid for a 1.6 km
distance and drill holes at selected intervals will determine the presence of
gold mineralization. Shears are the main controlling structures for gold in
the Red Lake Camp both at the Goldcorp Red Lake Mine (former Arthur
White Mine) and on new discoveries such as the Great Bear Dixie Lake
project immediately north to the Golden Goliath Kwai property.”……
“You are in Virgin territory! And you can have a whole new type of
discovery here. The gold bearing fluids are in the area and just need the
right structure to channel them.”
The IP survey the Company is about to conduct is the continuation of the
2019 work in the areas shown to be most promising by the Airborne
geophysical survey recently conducted on Kwai. The results are expected
to increase the number of drill targets and are eagerly anticipated.
The program of till sampling geochemisrty on the property is designed to
help prioritize the drill targets. The goal of the current IP and geochemistry
program is to add to the number of existing drill targets on the Kwai
property and to prioritize those targets in preparation for dimond drilling,
which is the next planned step on the property. The Company is now
mobilizing both the IP crew and the geochem crew to Ear Falls, Ontario to
conduct the work, which is anticipated to take approximately 35 field days
to complete. The Company would like to conduct the first ever diamond
drilling on Kwai as soon as possible after the results of the IP and
Geochem are compiled and interpreted.
The Company also intends to use some of the proceeds to conduct
further work on its Wish Ore property near Sault Ste Marie. Plans for that
work are underway.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
On behalf of the Board of Directors
Paul Sorbara, MSc.PGeo
CEO, Golden Goliath Resources
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 acquisitions 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”, “estimate”, “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 assumptions and analyses made by
management in light of their experiences and their perception of historical trends, current
conditions and expected future developments, as well as other factors they believe are
appropriate in the circumstances. These statements are subject to risks, uncertainties and
assumptions, including those mentioned in the Company’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 Company 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 upon 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-looking statements are expressly qualified in
their entirety by the cautionary statements set forth above. The Company is under no obligation,
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.
About Golden Goliath
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
properties in the Red Lake District 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, and 100% of the La Cruz property, also in Chihuahua.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
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 Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy.
About Golden Goliath
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 properties in the Red Lake District 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.
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 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.