NEWS
LATEST PAYMENT RECEIVED FOR OPTIONED PROPERTIES
Vancouver, Canada, May 10, 2018 Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath Resources Ltd. (“The Company”) is pleased to announce that it has now received the latest option payment from Desarrollos Mineros El Aguila, S.A. de C.V. (“El Aguila”), a wholly owned subsidiary of Fresnillo plc, for the properties optioned to them by the Company in the Uruachic Mining District in the State of Chihuahua, Mexico (the “Properties”).
The US $100,000.00 payment is the sixth in a series of seven optional payments by El Aguila in order that it may exercise the option to acquire the Properties. The final payment of $US 2.3 Million would be due in November, 2018.
The funds from the current payment will be used for general working capital, Mexican property taxes, assessment work and to complete the drill target selection program. If El Aguila decides to exercise the option, a major drill program at the Golden Goliaths San Timoteo property could be funded by the final option payment, thereby avoiding a dilutive, share issue financing.