NEW YORK, May 10, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter Magazine has just published an exclusive interview with Paul Sorbara, President and Chief Executive Officer of Golden Goliath Resources Ltd. (TSX-V:GNG), updating the investment community on the latest high-grade discoveries on his company's flagship exploration project in Mexico's legendary Sierra Madre.
"We're dealing with a situation where we're not asking, 'Is there any gold and silver there?'" Mr. Sorbara tells Wall Street Reporter senior analyst Todd Santorelli. "We are asking how much gold and silver is still there, because they've mined gold and silver out of Uruachic for many years."
The exclusive interview is now available at http://wallstreetreporter.com in streaming audio, MP3, and text format -- all free of charge.
Highlights include detailed discussions of the following topics:
-- Recent exploration developments, including the discovery of a new high-grade silver sulfite and gold zone below one of the area's historical mine tunnels. "In total, there were 183 meters of chip sampling, the weighted average for which was 422 grams of silver or 12.2 ounces of silver per ton and 0.23 grams of gold per ton," he says. "Those numbers are significant because we haven't seen sulfite mineralization in place in any of the workings before."
-- The prospect that the new zone may be the source of extremely high-grade (2,000 ounces per ton) silver sulfite samples found in a nearby waste dump.
-- Plans to drill the site in the immediate future.
-- Additional potential of the project, which encompasses 20,000 acres and about 100 historical mines at the center of the Sierra Madre precious metals trend. "We have a mining camp, something a big mining company would normally have," he says. "All the major mining companies in the world have come down to see what we're doing."
-- The company's other exploration assets and CDN$1.25 million cash position. "It is a big project, a project normally for a bigger company," Mr. Sorbara tells us. "We are a small company with a tiger by the tail."
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About Golden Goliath Resources Ltd.
Golden Goliath Resources Ltd. is a Canadian mineral exploration company based in Vancouver, British Columbia. The company's focus is on its 100%-owned Uruachic project in the Sierra Madre Occidental Mountains in Western Chihuahua State, Mexico. Golden Goliath, through its subsidiary Minera Delta S.A. de C.V., has been exploring and acquiring properties in Chihuahua State for ten years. The Uruachic project started in 1992 when company president Paul Sorbara started staking claims, immediately after Mexican foreign ownership laws had changed. Sorbara was one of the first people to take advantage of the new laws that allowed foreigners full ownership of mining claims. Many properties were visited and analyzed, resulting in 100% ownership of the past-producing high-grade Uruachic mining camp, situated in the middle of the several large past-producing mines and recent discoveries. Uruachic lies on a collapsed caldera structure with an extremely large and intense alteration system associated with it. This important structure is located at the intersection of major northeast and northwest striking lineaments.
Calderas are recognized as being associated with many of the large precious metal deposits around the world. In fact, the Lower Volcanic Sequence in which all nearby mines were found is prevalent in the Uruachic camp. Over the past 10 years considerable work has been carried out - including airborne geophysical surveys, ground geochemical and geophysical surveys, geological studies, and additional staking. This is the first time these properties have been subjected to modern exploration methods and drilling. Nine (9) targets have been developed reflecting the potential for large open pitable deposits. In October 2000, Golden Goliath completed the largest IPO financing done on the CDNX Exchange, CDN$4.5 million. Several major mining companies are interested in Golden Goliath's Uruachic project because it has the potential to host the large, multi-million-ounce deposits they need. The large area in excess of 31,000 acres property is 100%-owned, with past-producing Spanish land mines having found high-grade ore. Numerous offers from both major and junior mining companies have been received with respect to optioning these properties, but the Company has elected to develop the project further before considering any offers. Golden Goliath has a definite competitive advantage in Chihuahua State due to the Company's local knowledge, contacts, and the length of time they have been operating there.
Golden Goliath's legal counsel in Mexico is the former Ambassador to Canada, Emilio Carrillo Gamboa, and the Company has no title problems with its properties.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negatives of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The company has no obligation to update these forward-looking statements.