Mr. Steve Regoci reports

GARIBALDI INCREASES LAND PACKAGE 10-FOLD TO 144 SQ. KM IN KEY PART OF GOLDEN TRIANGLE

Recognizing the significance of developments rapidly unfolding in a key part of northwest British Columbia's Golden Triangle that hosts the high-grade Valley of the Kings mine slated for production in 2017, Garibaldi Resources Corp. has increased its landholdings in this prolific district by nearly tenfold through the following transactions:

1. Garibaldi has executed an option to acquire up to a 95-per-cent interest in the 8,070-hectare Palm Springs property (PSP), a high-grade gold and Eskay Creek-type target located five kilometres northwest of the past-producing world-class Eskay Creek mine and contiguous to Tudor Gold's Eskay North property.
2. Garibaldi has staked an additional 1,770 hectares of claims adjoining the northeast boundary of Barrick Gold's historic Eskay Creek mine.
3. Garibaldi has tripled the size of its King property, immediately north of the past-producing high-grade Snip gold mine, by purchasing an additional 17 claims (King South) covering approximately 3,052 hectares contiguous to the southern border of the King. This property now comprises 46 square kilometres.

King North drill permits

Garibaldi is also pleased to report that it is in receipt of drill permits from the B.C. Ministry of Energy and Mines for its original King ground (now referred to as King North) where recent trenching results included average grades of 295 grams per tonne silver and 19.4 per cent combined lead-zinc over six metres across the strike of a mineralized zone. King North also features high-grade gold and copper mineralization over several target zones.

Palm Springs property

Much of the Palm Springs property has been impacted by receding glaciers, exposing previously hidden favourable volcano-sedimentary stratigraphy similar to Eskay Creek. Historic surface sampling by Noranda returned high-grade gold and copper values and revealed unique Eskay Creek-type pathfinder minerals in trenches and outcrops below the Palm Springs showing. John Buckle, PGeo, PGeoph, who has been responsible for the discovery of several mineral deposits, will lead the upcoming exploration effort at Palm Springs.

Steve Regoci, Garibaldi president and chief executive officer, commented: "We've been in this world-class camp since 2009 and carefully deliberated the best areas to target for expansion given the recent infrastructure improvements and new surface discoveries brought on by significant glacial retreat. It promises to be a very busy and exciting summer in this district given multiple upcoming drill programs, construction of the Pretium mine and continued advancement of the Seabridge KSM project. With the expansion of the King, and the acquisition of the Palm Springs property, which has many Eskay Creek characteristics, we believe we have strategically positioned our shareholders to capture maximum value from our upcoming exploration programs and the broader regional dynamics."

Palm Springs property (PSP) deal

Garibaldi can acquire up to a 60-per-cent undivided interest in PSP from Decoors Mining Corp., a private arm's-length B.C. company, by completing the following:

1. A cash payment of $10,000 to Decoors;
2. Issuing 100,000 shares of Garibaldi to Decoors within 10 days of approval of this transaction from the TSX Venture Exchange;
3. Issuing to Decoors up to 1.4 million shares of Garibaldi over a four-year schedule and incurring exploration expenditures on the property totalling $2.1-million by the fourth year of the option.

Garibaldi can earn an additional 15-per-cent undivided interest in PSP as follows:

1. Issuing an additional two million shares of Garibaldi to Decoors on or before the fourth anniversary of the option.

After satisfying the second option, Garibaldi may earn an additional 20-per-cent undivided interest (totalling 95 per cent) as follows:

1. Paying Decoors an additional sum of $2-million cash at any time at its sole discretion.

The optionee retains a 2-per-cent net smelter return (NSR), half of which Garibaldi may purchase at any time for $1-million.

King South deal

Garibaldi has purchased a 100-per-cent interest in the King South claims in exchange for 300,000 shares of the company, subject only to a 2-per-cent NSR in favour of the vendor. Garibaldi may purchase half of the NSR at any time for $1-million.

Qualified person

Mr. Buckle, PGeo, PGeoph, a qualified person as defined by National Instrument 43-01 regulations, has reviewed and approved the scientific and technical disclosure in this news release.

We seek Safe Harbor.