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Golden Goliath Discovers New Gold Bearing Shear Zone at Kwai - Pakwash Property, Red Lake

May 26, 2021

Golden Goliath Resources received the final assays for 5 drill holes that were drilled along the south shore of Beauregard lake (holes K21-17- 21) during the week of May 10. The holes were designed to test an IP anomaly found during the lake IP survey conducted earlier this year. Results for the drill holes on the north side of the lake, designed to test the Whale anomaly are not yet complete.

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Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath

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Drilling on a strong one kilometer I.P. trend on the south side of Beauregard Lake has produced an important gold value hosted in sericite schists with associated pyrite and minor chalcopyrite. Hole K21-21 drilled on line 1600E intersected 824 ppb gold over 1 metre from 103 - 104 m in rocks dipping south at 80 deg. The eastern 600m of this anomaly occurs on a peninsula on the south shore of Beauregard Lake where the remainder extends west under a bay heading to the West Grid (Figure 2).

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Figure 2 IP anomalies and drill holes completed at Beauregard Lake

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Of significant note, a number of gold discoveries have been made in shears in the Porcupine Camp and in Hemlo where anomalous gold occurs exceeding 300 ppb with the ore zones occurring within 100m of the anomalous value. These values are a good guide to more mineralization.

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