September 19, 2006

Goliath Resources Finalizes Acqusition of Canadian Mineral Properties

The Company is pleased to announce it has now executed a definitive agreement whereby it will acquire three mineral projects in Canada. The consideration for the acquisition of these properties will be the issuance of 14,000,000 Goliath shares from treasury to the BellMin Group. Following the acquisition Andrew Bell will join the board as Chairman.

Goliath's main focus will be working with Phelps Dodge Canada on the Mazenod Lake project which is located in the North West Territories; Phelps Dodge owns the property 100%, and Goliath has a joint venture agreement with Phelps Dodge whereby Goliath will have an option to earn a 75% interest in this project by the expenditure of CDN$500,000.00 of which CDN$207,000.00 has been attributed to the 75% acquisition of the Mazenod property.

Geophysics and IP at Mazenod Lake have identified several areas of mineralization prospective for large-scale gold and copper and possibly uranium. Previous diamond drilling carried out by Moss Resources in 1997 identified significant copper mineralization within a defined area. Phelps Dodge subsequently carried out more extensive diamond drilling (1,150 metres) in five holes in 2002. Three of these holes outlined a one km long zone of copper bearing volcanic and sedimentary rocks. Intersections include 3m at 2.2% copper, 12m at 1.5% copper and 17.6m at 1% copper. Goliath will carry out stage two drilling in early 2007 and intend to explore the 4 major magnetic features still unexplored in the near future.

The second project is the Flume License in the Yukon. This property is also owned by Phelps Dodge in which Goliath has the right to earn 100%. Required expenditure is US $100,000.00 over the next twelve months. Following the earn-in, Phelps Dodge will retain a royalty interest. Covering 8,990 hectares, Flume has evidence of vein and skarn-type mineralization. Previous exploration between 1998 - 2000 included soil sampling, prospecting and trenching carried out by Teck Cominco Ltd. and Phelps Dodge, from which geochemical studies indicated the high potential for gold mineralization. Large areas of the property remain to be explored.

The final project is the Java property in British Columbia. Java is a copper-molybdenum porphyry prospect formerly held by Kennecott.

Andrew Bell will join the board and as chairman of Goliath. Andrew Bell is a former investment banker and fund manager with a background in mining and oil analysis and in Asian markets. He has MA and LLB degrees from Oxford and London Universities. He is currently Chairman of three AIM-listed companies, Regency Mines plc, Red Rock Resources plc, and Greatland Gold plc, and is a director of AIM-listed Ormonde Mining plc. He is President of the private investment group BellMin Ltd.

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.

Contacts: Goliath Resources Inc. Scott Rose (604) 688-2280