Vancouver, November 30, 2018; Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
The Company announces that the planned drilling on its 100% owned San Timoteo property in Chihuahua Mexico will be postponed due to security reasons. Company CEO Paul Sorbara explains; “After our crew arrived on the property for this year’s summer work program, we were informed that the Company had to pay daily “protection” for their safely. If I had known that before, I would never have sent them in the first place. For many years we worked in this area with no problems despite the fact that traffickers used the region as a back country transportation route from the much wetter coastal areas to the interior, bypassing the main highways. Those people know who we are and that we are a small company that employed many local people and we had no problem with them. Last year, new groups moved into the area and there was a turf war that resulted in many deaths. This year we were faced with this problem. The GNG Board discussed this situation and quickly and unanimously decided that we cannot send personnel to work in this area until the situation changes. The moral, legal and financial liabilities are far too great. With a new Mexican government just assuming power, we are hopeful that the security situation will improve.” The Uruachic area lies near an east-west backroad route from the coastal areas of Sinaloa to the interior Chihuahua area that bypasses the main highways. The home of the famous drug lord Chapo Guzman lies about 250 kilometers west of Uruachic on the other side of the Sierra Madre Occidental.
Through its wholly owned and funded Mexican Subsidiary, Minera Delta S.A. de C.V., The Company will continue to own 100% of its San Timoteo property and the net smelter royalties from the 7 recently optioned properties, as well as 100% of the La Cruz property, which lies in a different area of Chihuahua. The Company will maintain San Timoteo and La Cruz in good standing and continue to monitor the security situation.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person for the information regarding Uruachic project is J. Paul Sorbara M.Sc., P.Geo. 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. Golden Goliath’s San Timoteo property 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 our website at www.goldengoliath.com.
FOR MORE INFORMATION CONTACT:
Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950 Email: email@example.com
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