Mr. Roger Rosmus reports

GOLIATH ANNOUNCES AMENDED PROPERTY AGREEMENTS COMPLETED

Goliath Resources Ltd.'s previously announced transaction (please see Goliath's press release of April 14, 2020) with the J2 syndicate has closed. A total of 3.9 million units have been issued at deemed price of 10 cents to members of the J2 syndicate in lieu of future property payments up to $390,000, which are subject to a four-month-plus-one-day restriction on trading. The units consist of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one common share at an exercise price of 15 cents for a five-year period from the date of issuance.

In addition, the company will be obligated to pay, in respect of each property, a resource bonus to the members of the J2 syndicate as and when a technical report made pursuant to National Instrument 43-101 (Standards of Disclosure for Mineral Projects) shows mineral reserves (proven and probable categories) and mineral resources (measured, indicated and inferred categories) on each property of at least two million gold equivalent ounces, consisting of: (i) a total of 10 million Goliath shares per property (for a total of 20 million shares); and (ii) a cash bonus of $1-million (U.S.) and an additional $1 (U.S.) for every gold equivalent ounce over two million gold equivalent ounces of such property.

We seek Safe Harbor.