2008 Interview with: Golden Goliath Resources Ltd. (GNG-TSXV), President and CEO, J. Paul Sorbara - featuring: their gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico.

Golden Goliath Resources Ltd. (GNG-TSXV)

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Golden Goliath Resources Is Focused On Finding New Resources Of Gold And Silver In The Past Producing Uruachic Mining Camp Located In The Sierra Madre Region Of Northwestern Mexico - Owning An Entire Mining District As Well As The Mining Properties That Go With It 100%, Gives Golden Goliath Resources An Edge In Bringing In Joint Venture Partners



Exploration
Gold & Silver
(GNG-TSXV)

Golden Goliath Resources Ltd.

Suite 711, 675 West Hastings Street
Vancouver BC Canada V6B 1N2
Phone: 604-682-2950



J. Paul Sorbara
President and CEO

Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
Published – October 17, 2008

BIO:
J. Paul Sorbara

Mr. Sorbara, President of the Company, completed his M.Sc. at the University of Toronto in 1979, studying collapsed caldera structures in Canada's Northwest Territories. Following graduation, he conducted Caldera Reconnaissance Programs for Cominco Ltd. in both British Columbia and the Sierra Madre Occidental range in Northern Mexico, spending a number of years in Cominco's Guadalajara office. Changes in the foreign investment laws made investment in Mexico feasible, and Mr. Sorbara was one of the first Canadians to go there. With help from his numerous Mexican geological contacts, he started his own private Mexican exploration company, Minera Delta S.A. de C.V. which after eight years he took public as Golden Goliath Resources Ltd.

Company Profile:

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.

CEOCFO: What is the vision at Golden Goliath?

Mr. Sorbara: “The vision of Golden Goliath is to find new recourses of gold and silver in Mexico. We’re operating in the Sierra Madre region of northwestern Mexico.”

CEOCFO: What do you like about Mexico?

Mr. Sorbara: “In general, Mexico has a very low political risk. Therefore, it’s an excellent country to do business in, especially geological exploration and the reason for that is that it’s an incredibly rich and under explored country. The Sierra Madre town mountain range stretches across about 800 miles of northwestern Mexico and since the time of the Spaniards, that mountain range has produced about 40 million ounces of gold and approximately 1 billion ounces of silver. Our operation is right in the middle of that trend. We’re surrounded by other mines and mining companies that are very active in that region as well. It is probably one of the best areas on the planet to look for gold and silver.”

CEOCFO: Please tell us more specifically about your projects?

Mr. Sorbara: “Our project is centered on a little town called Uruachic, which is a mining town that was established in 1736 by two Spaniards searching for gold and silver for the Spanish crown. There are probably around 100 old silver and gold mines that were in operation between 1736 and 1925, about the time of the Mexican revolution, within the Uruachic area. Our main property package covers all of that. It is essentially a 25 by 15 kilometer area. It is a collapsed caldera geological setting, which is very favorable for exploration. It has an incredible history of production and very high grades of silver and gold as well as bi-products of lead and zinc. I was led there because of my background in caldera studies, so I have a very specific reason for being there. Outside of the Uruachic camp, we also have two outlying properties; one is a lead/zinc/silver target that’s very similar to two very large mines in northern Mexico. They are lead zinc and silver mines that have produced about 60 million tons of 15% lead zinc with 150 grams of silver. We have another property, which is a silver property just at the edge of the Sierra Madre that we acquired by staking. It has extensive old workings and the dumps attest to significant production, but there are no old records. “

CEOCFO: With so much area to choose from, how do you decide what area to focus on?

Mr. Sorbara: “That’s a very good question. I’m trying to do exploration the way the major companies’ do it and the way I was trained when I worked for Cominco Limited. We started out with a large area and we conducted surface geological mapping, geochemical and geophysical surveys as well as identifying and starting to investigate, rehabilitate, map and sample the old workings. It took us several years to narrow our focus down to the areas we are currently working. Right now we’re drilling in two different areas within the Uruachic camp. It’s a big job, a big area, and it takes a lot of time, but we hope the reward will be very large as well.”

CEOCFO: Are you finding it difficult to find the people and equipment you need with so much activity in general in the industry?
Mr. Sorbara: “We have in the past. In prior years, we only had about 1-$2 million in the bank and it was very difficult to find good diamond drilling companies in Mexico because other companies had much more money and they were getting all the big contracts for the diamond drills. For several years we were relegated to basically using reverse circulation drills and smaller equipment. About one year ago we did a $6 million financing and that moved us up to the top level of the pack. Since that time, we’ve been able to attract the good diamond drilling companies and the two drills that we have working there now. They are both diamond drills with excellent crews and excellent recovery. So, it has been a problem in the past but it’s not at the moment.”

CEOCFO: What are the challenges, if any, that you see going forward?

Mr. Sorbara: “The big challenge right now is not so much the geology or exploration; it’s the overall challenge of the marketplace since the time of the crunch a year ago and the mortgage crisis. People have been shell shocked or they are afraid, so they’re pulling their money out of the market. The gold and silver prices are extremely good, even though gold has come down $100 in the last month or so. But even so, it’s well over $800 and silver’s around $16, and those are great prices. For most of my career, which dates back to 1979, the target price we always used for gold and silver were $400 gold and $7.00 silver, and we’re more than double that right now. Yet the TSX Venture Exchange index (and we trade on the TSX Venture Exchange under the symbol of GNG) has been declining dramatically for the last year. People are afraid to invest; they’re pulling out their cash and sitting on the sidelines, looking. You can put out big results right now, but it doesn’t have a lot of effect on the marketplace.”

CEOCFO: Maybe not immediate interest but it doesn’t mean you are not on peoples’ radar screens!

Mr. Sorbara: “Absolutely, and we’re just carrying on, waiting for better times to come along.”

CEOCFO: What is the plan going forward; please give us a bit of a timetable?
Mr. Sorbara: “We want to do resource calculations for two different areas. We hoped to have it done this year but it may take us until next year. Right now we’re trying to source an underground electric drill for one of the tunnels, but our focus is to do these resource calculations and develop a real resource. At that point, you can make a decision. You can try to turn that into a reserve and go into production, or carry on with the exploration. What normally happens these days is junior companies make the discovery, and the big companies buy them out. Our two largest shareholders, and we are proud of this, are Sprott Asset Management from Toronto and the Agnico Eagle Gold Mines also in Toronto. Agnico Eagle owns 14 ½ % of our stock. Mr. Mark Legault is the vice president of the project development for Agnico Eagle Mines, and he is on our Board of Directors. They have their own project called Pinos Altos, which is only about 60 kilometers north of us. We could very likely be a take over candidate for Agnico Eagle, should we come up with the resource that we are seeking.”

CEOCFO: Why should investors be interested; what makes Golden Goliath stand out of the crowd?

Mr. Sorbara: “Golden Goliath stands out because instead of just having an individual property or two, we have an entire mining district as well as two other mining properties. We own them all 100% and they’re fully paid for. There is a history of production on the properties, so we have a great property package, and we have very strong investors. Everyone who is looking to choose a junior mining or exploration company should do their due-diligence. In our case Sprott Asset Management and Agnico Eagle Gold Mines have essentially done the homework for the investors that don’t necessarily have the time to do it themselves. Since Sprott and Agnico both increased their holding in us in our last financing and they had that kind of faith in us, then the small investors should too. We also have a very strong management team made up of geologists, engineers, and business people. We have about $2,600,000 worth of cash in the bank and we have multiple drills turning on the property. We have everything going for us that we need. We’re at a great place and it’s really just a matter of time before we come up with what we’re seeking and the market is receptive.”

disclaimers

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“In general, Mexico has a very low political risk. Therefore, it’s an excellent country to do business in, especially geological exploration and the reason for that is that it’s an incredibly rich and under explored country. The Sierra Madre town mountain range stretches across about 800 miles of northwestern Mexico and since the time of the Spaniards, that mountain range has produced about 40 million ounces of gold and approximately 1 billion ounces of silver. Our operation is right in the middle of that trend. We’re surrounded by other mines and mining companies that are very active in that region as well. It is probably one of the best areas on the planet to look for gold and silver.” - J. Paul Sorbara