Golden Goliath fka GNG

[Ed Monton]

September 19th, 2003
Goliath Prepares for Drilling

The Company is pleased to announce that the results have now all been received from the initial underground sampling work conducted on the Las Bolas property in August.

Assays confirm the high grade silver and gold mineralization in the Gambusino and other old workings located on the western side of the property. A total of 70 chip samples taken from underground at the old Gambusino mine averaged 267.52 gm silver (8.6 ounces) per tonne and 0.22 gm gold per tonne. At the El Corazon workings, 15 chip samples averaged 25 gm silver and 1.25 gm gold per tonne and 12 chip samples from the Guadalupana tunnel averaged 16.23 gm silver and 1.43 gm gold per tonne. Mineralization appears to be hosted in shear zones as well as in the adjacent breccias and lapilli tuffs.

At least three more major workings were identified during the August program and work is now underway to open these to facilitate sampling to generate more drill targets and surveying so that the old tunnels are not accidently encountered with the drill. Three drill companies have now visited the site and the Company is waiting for bids. A short road will soon be built from the Gambusino mine to the La Providencia mine. This drill road will pass over three other tunnels and will be used for drill sites and to facilitate the opening of the La Providencia workings, which the locals say was once a very large and rich operation. Once these working are mapped and sampled the drill phase will begin.

A major US television channel is currently producing a documentary on gold exploration, which will feature the Company at work on its Las Bolas property in the Sierra Madre mountains of northwestern Mexico. A film crew from the production company will be on site in October. The Company is pleased with this development, which will provide continent wide exposure at essentially no cost.

The Company also wishes to announce that it has arranged a small, non-brokered private placement with two long-term investors from Alberta who were inadvertently omitted from the recent financing. The placement will be for 200,000 units at $0.20 per unit for 1 share and 1 share purchase warrant exerciseable at a price of $0.25 for a period of two years. The proceeds of this financing will be used primarily for exploration and drilling of the Company’s
Las Bolas property in Chihuahua Mexico.

J. Paul Sorbara M.Sc., P.Geo
President


FOR FURTHER INFORMATION PLEASE CONTACT:
Golden Goliath Resources Ltd.
[phone] TEL
[phone] FAX
J. Paul Sorbara, President
email [e-mail]
website www.goldengoliath.com


No securities regulatory authority or stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of the information contained in this press release.