Golden Goliath Resources Ltd. - Exploration Update



    TSX.V:GNG
    US:GGTH-F

    VANCOUVER, Feb. 26 /CNW/ - Golden Goliath is pleased to announce that the
exploration drilling program on the Company's Uruachic claims has been going
smoothly, with excellent recovery and production, since startup on January 8.
On the San Timoteo property, the fourth drill hole of the year (ST-DD-08-4) is
underway, with 1,334.44 metres drilled this year. Detailed mapping and
structural analysis in the area of holes ST-DD-07 4 and ST-DD-07-8, which were
highlighted in the January 18, 2008 press release, have now been completed and
the follow up holes for this new zone of mineralization are currently being
spotted. One of the two drills at San Timoteo will be dedicated to testing and
expanding this near surface mineralized corridor, while the other drill will
be used for exploration of the deeper mineralization below the San Martin
tunnel and to further extend and delineate the polymetallic veining, about
100 metres south of the tunnel, which was intensifying at the bottom of hole
ST-DD-07-10a when the crew ran out of drill rods at a depth of 505 metres.
More rods have now been obtained to allow the completion of holes over
600 metres. The Company still has in excess of $4 million in the treasury and
drilling is expected to continue throughout 2008.
    Over the past month the bulldozer has rehabilitated 3,000 metres of road
and has constructed 1,523 metres of new road, including the new access to the
historic San Martin mine tunnel. Drill pads in this area will be constructed
shortly allowing the Company to drill underneath the old workings.
    On La Reforma, where one drill is working, the third hole of the New Year
is now underway, with 949.65 metres drilled this year. Following this drill
hole the La Reforma drill will be moved to the Las Bolas property to complete
a couple of test holes to determine the suitability of the rig for that area.
This will also allow time to receive the assay results from the 2008 La
Reforma holes, which show intensive silicification and abundant sulphides. The
completion of the Las Bolas drill program will follow depending on the Reforma
results.
    The Company started using a new lab (Inspectorate Labs), with exactly the
same analytical procedure, in 2008. The new lab promised a four week
turn-around time, as compared with the eight weeks with the previous lab. The
first samples were sent to Inspectorate at the end of January and a second
batch is about to follow.
    The geophysical crew expected in late January for the Induced
Polarization survey of the San Timoteo II claim has been delayed. They are now
expected to arrive in March. The remaining assay results from 2007 that were
still outstanding at the time of the last press release (holes ST-DD-07-10,
10a, 11, 12, 13, 17, 18) have now been received. The most significant
intervals are presented in the table below.

    
    -------------------------------------------------------------------------
     Drill Hole     From     To      Width    Ag     Au     Zn     Pb    Cu
      Number         (m)     (m)      (m)    ppm    ppm      %      %   ppm
    -------------------------------------------------------------------------
    ST-DD-07-10    355.5   360.00     4.5    5.00   0.10      -      -     -
    -------------------------------------------------------------------------
    ST-DD-07-10a   487.5   502.55   15.05   16.43      -   0.51   0.19  0.07
    -------------------------------------------------------------------------
    ST-DD-07-11    347.7   365.50   17.80   32.54   0.29   0.25   0.28  0.05
    -------------------------------------------------------------------------
    ST-DD-07-12    452.7   461.85    9.15    7.73   0.16   0.11   0.01  0.04
    -------------------------------------------------------------------------
    ST-DD-07-12    484.9   495.65   10.75   17.75   0.08    .02   0.04  0.01
    -------------------------------------------------------------------------
    ST-DD-07-13   363.70   407.80   44.10    1.80   0.21   0.05   0.02  0.02
    -------------------------------------------------------------------------
    

    Assays are now done Inspectorate Labs using fire assay preparation and AA
finish and ICP methods. The QP for the Uruachic project is J. Paul Sorbara
M.Sc., P.Geo.

    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 an historic mining camp located in
the world famous Sierra Madre Occidental Mountains of northwestern Mexico.
Unlike most juniors, which have an option to earn an interest in a single
property or a few scattered properties in various areas or countries, Golden
Goliath controls an entire old mining camp, or district, that covers an area
of 15 by 25 kilometres, with numerous past producing gold and silver mines
dating back to the time of the Spaniards. Golden Goliath's Uruachic claims are
owned 100% by the Company and are fully paid for with no property option or
purchase payments to make. To find out more about Golden Goliath visit
www.goldengoliath.com.

    ON BEHALF OF GOLDEN GOLIATH RE

SOURCES LTD. J. Paul Sorbara, M.Sc., P.Geo. President The TSX Venture Exchange has not reviewed and does not approve or disapprove the adequacy or accuracy of this release.

For further information:

For further information: about Golden Goliath Resources Ltd. visit our
website at: www.goldengoliath.com

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Golden Goliath Resources Ltd.

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