Mr. Steve Regoci of Garibaldi reports

GARIBALDI SIGNS LOI TO SEND LA PATILLA MILL FEED TO GAINEY CAPITAL'S PROCESSING FACILITY

Garibaldi Resources Corp. has signed a letter of intent with Gainey Capital Corp. to initiate an immediate program to deliver mineralized material from the company's La Patilla gold property in Sinaloa state, Mexico, to Gainey's 300-tonne-per-day processing facility just 40 miles to the southeast.

This letter of intent marks another important step for Garibaldi at La Patilla where the company's strategic plan since acquiring this asset in 2013 has been to move to the exploitation stage as quickly as possible to generate cash flow.

Artisanal miners have been active at La Patilla for decades, the company has negotiated a long-term agreement with the local community to allow for exploitation at this property, and a highly successful drill program in early 2014 confirmed the presence of near-surface mineralization, including 8.5 grams per tonne gold over 10.4 metres within a broader interval of 3.1 grams per tonne gold over 30 metres in diamond drill hole LP-14. La Patilla is considered very prospective for high-grade shoots.

Garibaldi and Gainey will use this letter of intent as a framework for a potential long-term revenue-sharing agreement between the two companies. In addition, the processing of mineralized material from La Patilla will provide Garibaldi with important additional metallurgical and grade information to further assess the exploitative potential of this asset. Preliminary La Patilla metallurgical testing by Garibaldi has produced encouraging results.

"Our team in Mexico was very impressed with Gainey's state-of-the-art gravimetric/flotation processing centre," commented Steve Regoci, Garibaldi president and chief executive officer. "This should be an excellent fit for advancing La Patilla, which, importantly, is located just a short distance away."

Investors are cautioned that the planned processing of mineralized material from La Patilla is not based on a National Instrument 43-101 mineral resource or reserve estimate, preliminary economic assessment, prefeasibility study or feasibility study. As a result, there is no assurance that Garibaldi will be able to economically extract mineralization from La Patilla.

Rodadero update

Garibaldi eagerly anticipates updating shareholders with regard to the latest exploration developments, including assay results from continuing work at Rodadero, its Mexican flagship project, during the week of March 2, 2015.

Recent corporate developments, including a Rodadero site visit by a second leading producer and the recently announced bid for Paramount Gold and Silver Corp. by Coeur Mining Inc., have required management to weigh competing strategies to ensure maximum value for shareholders.

Garibaldi values and appreciates the loyalty and patience of its shareholders as the company continues to work toward a breakthrough year in both Mexico and British Columbia.

Garibaldi at PDAC (Prospectors and Developers Association of Canada convention)

Garibaldi invites shareholders and interested investors to visit the company's booth (No. 3153) and meet with management at the PDAC convention from Sunday, March 1, 2015, through Wednesday, March 4, 2015, at the Toronto Convention Centre. Drill core from Rodadero will be on display.

Qualified person

Dr. Craig Gibson, certified professional geologist and a director of Garibaldi, is a non-arm's-length qualified person for the company's Mexico projects and a direct manager of the technical programs operated under contract by Prospeccion Y Desorrollo Minera del Norte (ProDeMin). Dr. Gibson has reviewed this news release and approved the content thereof.