Goliath Resources Inc.

Goliath Resources Inc.

March 07, 2007 09:46 ET

Goliath Consortium Gains Mining License for 100 Million Tons of Tailings in Zambian Copper Belt

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2007) - Goliath Resources Inc. (PINK SHEETS:GHRI) announces that a consortium led by the Company has been issued a Large Scale Mining License, covering main tailing dumps and a number of subsidiary sites in the Zambian Copper belt. The license has been granted for 25 years.

The size of the tailings, cover an extensive area and are up to 40m high, and exceed 100 million tons. Earlier sampling has shown the tailings to contain substantial amounts of copper and cobalt.

The company has commenced the verification work and surveying the boundaries of the license, and then plans an immediate Rotary Air Blast shallow drill program to carry out detailed sampling at 1m intervals on a 200m by 100m grid, with ICP analysis for elements including copper, cobalt and uranium. Further announcements will be made as developments occur.

"We will before long have re-test results in from our own drilling and sampling. At that stage we believe the prospect for substantial near-term cash flows from treatment of the dumps will be evident to everybody". Said Andrew Bell Chairman.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information