Golden Goliath Resources Ltd. - Placement increased to $6,000,000

    TSX.V: GNG

    VANCOUVER, March 1 /CNW/ - Further to the Company's news release of
February 26, the Company is pleased to report it has increased the size of its
previously announced private placement of up to 3,750,000 units at a price of
$0.40 per unit to 15,000,000 units at a price of $0.40. In doing so, the
Company has engaged Bolder Investment Partners, Ltd. as agent. They will
receive a commission of 7.5%, of which it may elect to take up to half in
Units, 10% Agent's warrants having the same terms as the warrants under the
Units and a $7,500 cash work fee. Closing of the placement is subject to
regulatory approval.
    Each unit shall consist of one common share and one non-transferable
share purchase warrant exercisable for a period of two years at a price of
$0.45 for each warrant. Once resale restrictions on the Shares having expired
and upon Golden Goliath's shares trading at or above a weighted average
trading price of $0.75 for 20 consecutive trading days Golden Goliath may give
notice that the Warrants will expire 30 days from the date of providing such
notice (in writing to Warrant holders and via a news release). The proceeds
will be used to expand the current exploration drilling programs at the
Company's 100% owned Las Bolas, San Timoteo and La Reforma projects located in
the Uruachic mining camp in the Sierra Madre mountain range, State of
Chihuahua, Mexico; and will also provide funds for preliminary exploration
work at the Company's La Cruz and Chamizal Properties located in the central
part of Chihuahua State.


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.

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Ltd. (TSX-V: GNG), visit our website at

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