Mr. Steve Regoci reports

GARIBALDI STEPS OUT 600 METERS AT GRIZZLY CENTRAL

Garibaldi Resources Corp. has winterized its camp at Grizzly Central as it prepares for initial assay results from a continuing first-ever drill program at its 100-per-cent-owned project in the heart of the robust 30-kilometre-long Sheslay mineralized corridor in northwest British Columbia.

The recently completed fourth hole, collared 600 metres west-southwest of GC-15-03 and 800 metres southwest of GC-15-01, was drilled adjacent to outcrop displaying intense potassic alteration and quartz veining containing chalcopyrite with traces of malachite and bornite. Notably, beginning at a depth of 139.8 m and continuing to the end of the hole, GC-15-04 intersected a dark, strongly magnetic mafic unit with fine-grained pyrite along shear surfaces similar to that observed in GC-15-03 and GC-15-01.

After 14.5 m of overburden, GC-15-04 immediately entered an intense silica chlorite-sericite breccia for 22 m. This was followed by a 103 m interval with sections of finely disseminated chalcopyrite and pyrite stringers in andesitic volcanoclastic rocks consistently chlorite-sericite altered, featuring approximately 5 to 15 per cent quartz veins.

Steve Regoci, Garibaldi president and chief executive officer, commented: "We continue to be extremely encouraged with what we're seeing in these widely spaced initial holes at Grizzly Central which clearly offer the potential for yet another new discovery in this still very underexplored district.

"Given the Kaketsa pluton immediately to the west, the impressive development of the gold-rich Hat copper porphyry system to the east and the cluster of porphyries to the north of Grizzly Central, we're exceptionally well positioned geologically, with the district's largest land package as well.

"We're eagerly anticipating initial assays and we look forward to providing shareholders with further updates as drilling progresses."

Qualified person

Adrian Smith, PGeo, an on-site consultant for the company's Grizzly project and a qualified person as defined by National Instrument 43-01 regulations, has reviewed this news release and approved the contents thereof.

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