Golden Goliath closes $165,000 private placement

Golden Goliath Resources Ltd. closed a private placement of 3,000,000 units at 5.5 cents per unit, raising gross proceeds of $165,000. The transaction was announced on October 26, 2026, and closed on November 4, 2026.

The placement included participation by related parties, constituting a related-party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval. Net proceeds are designated for the exploration campaign in the company's Egyptian partnership and for general working capital.

This financing follows the November 2, 2026 announcement of a joint venture for the Um Garayat Block B and D concessions in Egypt, and the September 30, 2026 closing of a $610,472 financing at 10 cents per unit.

Golden Goliath Resources Ltd. (GNG) has executed a financing round at 5.5 cents per share, a price significantly below the company’s recent trading range and previous capital raises, which occurred at 10 cents in September 2026, 12 cents in April 2026, and 5 cents in November 2025. The transaction raises $165,000 to provide short-term liquidity for Egyptian exploration activities and to cover operating costs.

The capital raise is immaterial relative to the company’s quarterly burn rate of approximately $490,000 and its total cash position of approximately $283,803. While the funds extend the company’s runway by a few months, the transaction does not introduce new assets, partnerships, or operational milestones, nor does it alter the fundamental pre-revenue exploration status or strategic trajectory of the firm.

Golden Goliath Resources Ltd. (GNG) is a pre-revenue gold exploration company that has shifted its strategic focus to Egypt. The firm’s flagship assets include the West Gabal El Dehies Concession, in which it holds a 29.5% interest, and the newly acquired Um Garayat Block B and D concessions, carrying a 40% interest, located in the Eastern Desert of Egypt. These Egyptian projects are characterized by a long history of artisanal gold mining, quartz vein-hosted orogenic gold deposits, and existing infrastructure such as adits, shafts, and tailings.

Prior to its current focus, the company held Canadian properties including Wishore in Ontario, Manicouagan REE in Quebec, and Dixie Road in Ontario, as well as San Timoteo in Mexico. Management of the company includes J. Paul Sorbara as President and CEO, Stephen Pearce as CFO, Ing. Daniel Nofrietta Fernandez as Mexico Manager, and Gordon MacKay as Exploration Manager.