Goliath Arranges $520,000 Non-Brokered Private Placement

  NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (FSE: B4IE) (OTCQB: GOTRF) (the "Company or "Goliath") is pleased to announce a non-brokered private placement of $520,000. Funds will be used for exploration and general working capital. It is scheduled to close early next week.

The offering will consist of flow-through units ("FT Unit") and non-flow-through units ("NFT Unit") both priced at $0.10 per unit.

Each FT Unit will be comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one half (1/2) share purchase warrant (each full warrant a "$0.20 Warrant"). Each $0.20 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.20 for 24 months after closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price equal to or higher than $0.40 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall thereafter be entitled to give notice to the holders of all $0.20 Warrants, by news release, that such warrants will expire at 4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the expiry of that period.

Each NFT will be comprised of one common share which is not a "flow-through" share and one half (1/2) share purchase warrant (each full warrant a "$0.20 Warrant"). Each $0.20 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.20 for a period of 24 months after closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price equal to or higher than $0.40 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall thereafter be entitled to give notice to the holders of all $0.20 Warrants , by news release, that such warrants will expire at 4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the expiry of that period.

The Company may pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in cash, and 7% finders warrants equal to the number of units sold based on the same terms and in accordance with the policies of the TSX Venture Exchange. The proposed private placement and finder's fees are subject to TSX Venture Exchange acceptance. All shares issued pursuant to the offering (including shares issued to finders) and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.

About Goliath

Goliath Resources Limited is a project generator of precious metals projects focused in the prolific Golden Triangle and surrounding area of northwestern British Columbia. It controls 100% four highly prospective properties that include Bingo, Golddigger, Lucky Strike and Copperhead covering over 44,000 hectares.  All four properties have brand new discoveries that all have returned anomalous gold, silver and/or copper in grab and channel samples from exposed bedrock at surface. These new discoveries occurred in an area of glacial recession and snowpack melting in a world class geological setting where world class deposits have been found. Inaugural drill programs were completed this year at both the Lucky Strike and Copperhead properties.

Further information regarding Goliath Resources Limited can be found at:
www.goliathresourcesltd.com

Contact Information:
Roger Rosmus
Chief Executive Officer
[email protected]
+1-416-488-2887 x222

General Disclaimer

Goliath Resources Limited "Goliath" has taken all reasonable care in producing and publishing information contained in this news release and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Goliath assumes no responsibility. Goliath does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Goliath be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release contains forward-looking statements, including but not limited to comments regarding predictions and projections. More particularly, this document contains statements concerning the benefits of the listing of the Company's shares on OTCQB. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.