Goliath Resources Inc.

Goliath Resources Inc.

June 14, 2007 15:00 ET

Goliath Resources Completes Private Placement for US $350,000 and Reorganizes Board of Directors

VANCOUVER , BRITISH COLUMBIA--(Marketwire - June 14, 2007) - Goliath Resources Inc. (PINK SHEETS:GHRI) ("Goliath") is pleased to announce it has today closed a private placement for $350,000.00 consisting of 1,000,000 common shares.

These funds will be used to advance Goliath's business strategy, including exploration of the copper/cobalt dumps in Kitwe in the Zambian Copper Belt, and exploration of the Flume Gold Prospect in the Yukon, Canada. Drilling of the oldest three dumps, which is expected to lead to delineation of a 43-101 resource, began on 13th June, 2007. Exploration at Flume is expected to begin in the next week.

Goliath also announces the appointment of Manoli Yannaghas to the board. Manoli Yannaghas has spent the last 8 years concentrating on the financing and advising of early stage companies. He sits on the board of a number of small fast growing businesses and specialises in identifying exciting founder led businesses, raising growth funds for them and assisting in their expansion. He started his career in New York as a bank analyst with Greenwich Associates. Mr. Yannaghas will be assisting the company with its preparation of a listing application to the TSX Venture exchange.

Goliath also announces the resignation of James McLeod and Patricia Wilson from the board, and thanks them for their services. They will remain consultants to the company.

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