Goliath Resources Limited — Capital/Financing Update 2020

Dec 31, 2020

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GOLIATH GRANTS STOCK OPTIONS

Toronto, Ontario – December 31, 2020 – Goliath Resources Ltd. ( TSX-V: GOT ) ( FSE: B4IF ) ( OTCQB: GOTRF ) (the “ Company ” or “ Goliath ”) announces it has granted stock options for a total of 1,117,390 common shares of the Company to Officers, Directors and Advisor of the Company. These stock options are exercisable at CDN $0.47 each, which was the closing price on December 31, 2020. These options will expire on December 31, 2025. All stock options are governed by the terms and conditions of the Company's stock option plan.

For more information please contact:

Goliath Resources Limited

Mr. Roger Rosmus

President and Chief Executive Officer Tel: +1-416-488-2887 x222 roger@goliathresources.com www.goliathresourcesltd.com

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. 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.