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GOLDEN GOLIATH RESOURCES LTD.
711-675 West Hastings Street, Vancouver, B.C., V6B 1N2, Tel (604) 682-2950
FOR IMMEDIATE RELEASE TSX.V : GNG
January 19, 2007 PR 02/07 US:GGTH-F
High Grade Assays Received From New Underground Zone
The Company is very pleased to announce that it has just received assay results for 127 chip samples taken early this month from newly opened underground workings on its 100% owned Las Bolas property, located in the centre of the Uruachic mining camp, Mexico. These irregular tunnels, raises and stopes occur about 50 metres below the surface. They extend for a total length of about 60 metres and cover a vertical interval of about 25 metres. The exposure is a chaotic breccia zone in fractured andesitic volcanic rocks, with propylitic and argillic alteration containing numerous irregular quartz veins and veinlets. The zone hosts both suphide and oxide mineralization, but sulphide mineralization is predominant. Company geologist Javier Araiza collected the 127 chip samples from all areas of the workings in order to obtain the most representative data possible without a bulk sample. Sample lengths varied from 0.8 to 4.0 metres and the sum total length of all 127 samples was 179.51 metres. Samples were analyzed by fire assay at the Chemex laboratory in Vancouver B.C.
Silver values ranged from a low of less than 5 gm/tonne (in three samples) to a high of 2,820 gm/tonne, with a total of 18 samples containing over 1,000 gm silver per tonne. Gold values ranged from less than .05 gm/tonne to a high of 4.95 gm/tonne. Individual assays included:
Sample # Width (m) gm/tonne Au gm/tonne Ag oz/ton Ag
711075 2.2 0.35 1,245 36.11
711078 2.0 0.39 1,295 37.56
711138 1.1 0.83 1,320 38.28
711095 1.6 1.28 619 17.95
711112 1.2 4.95 393 11.40
711153 2.0 2.69 361 10.47
The overall weighted average of the 127 chip samples is 0.22 gm gold/tonne + 390.28 gm silver/tonne over 179.51 metres, or 0.006 oz gold/ton + 11.32 oz silver/ton over 588.94 feet
The Company is very pleased and encouraged with these results. The Induced Polarization survey currently underway on the property will cover the new zone with the aim of identifying the feeder zone for this sulphide mineralization. Drilling is scheduled to begin in February.
ON BEHALF OF GOLDEN GOLIATH RESOURCES LTD.
J. Paul Sorbara, M.Sc., P.Geo.
President
To find out more about Golden Goliath Resources Ltd. visit our website at: www.goldengoliath.com
The TSX Venture Exchange has not reviewed and does not approve or disapprove the adequacy or accuracy of this release.