Mr. Steve Regoci reports

GARIBALDI CONSOLIDATES FOOTPRINT AROUND E&L, GGI ADDS 41 SQ. KM OF KEY GROUND INCLUDING 6 KM OF "RED LINE"

Garibaldi Resources Corp. has tripled the size of its 100-per-cent-owned E&L project in the Eskay camp of the Golden Triangle to 63 square kilometres with the acquisition of the strategic QU claims contiguous in all directions to the company's E&L deposit, the district's first nickel-copper-rich system with platinum, palladium, gold and cobalt values.

In exchange for a 100-per-cent interest in the QU claims, Garibaldi will issue vendor Gold Fountain Resources Inc. (Xia Yan Qu), a private Richmond, B.C., company, 500,000 shares of Garibaldi Resources.

Steve Regoci, Garibaldi's president and chief executive officer, commented: "Given the growing significance of the E&L deposit, and the untested km wide Q magnetic anomaly with its conduit-shaped keel to the south, an immediate high priority was to further extend our land position around this asset with 100-per-cent ownership. The evidence is overwhelming that much was overlooked in this area by historical explorers.

"The QU claim additions also capture a six km east-west belt of the Red Line, one of the most important geological features of the richly endowed Eskay camp mineral district. We'll be commenting more on the Red Line and its importance to the E&L project shortly as our geological team collects and interprets additional data. In the meantime, we are delighted to have Xia Yan Qu and her company as significant new shareholders of Garibaldi."

An updated map of the E&L will be posted on the Garibaldi website in the coming days.

With the expansion of the E&L, Garibaldi now controls major portions of key ground extending 20 km east-west between Colorado Resources' KSP project and Eskay Creek and 20 km north-south from the AltaGas McClymont Creek access road to the E&L. In total, Garibaldi's landholdings in the district now exceed 200 square km.

The transaction for the QU claims is subject to the approval of the TSX Venture Exchange.

The Q map

Please visit the company's website for a map showing the E&L deposit and the Q magnetic anomaly to the south.

Qualified person

John Buckle, PGeo, PGeoph, a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this news release.

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