Mr. Steve Regoci reports

GARIBALDI LAUNCHES E&L VTEM SURVEY WITH GEOTECH

Final staging by technical crews from Geotech of Aurora, Ont., is under way for the first-ever helicopter-borne versatile time-domain electromagnetic (VTEM) and magnetics survey over Garibaldi Resources Corp.'s flagship E&L massive sulphide nickel-copper-cobalt deposit in the heart of the prolific Eskay camp in northwestern British Columbia.

The modern VTEM method is ideally suited for locating the discrete conductive anomalies associated with nickel sulphide deposits, with a maximum depth of detection of approximately 300 metres, plus range. Previous less advanced airborne EM surveys at E&L in the 1990s had a maximum depth of detection of approximately 75 metres.

The VTEM survey is on schedule, and the company expects to have interpretations completed and initial drill targets selected by the end of May. A notice of work application, filed with the government in February, proposes 5,000 metres of diamond drilling as part of phase 1 exploration during 2017.

Steve Regoci, Garibaldi president and chief executive officer, commented: "Garibaldi's nickel team is eagerly anticipating the completion and interpretation of the VTEM survey. Having the ability to compare signatures from the known sulphide zones to the Q anomaly and other areas around the deposit that were overlooked historically will be invaluable. The VTEM data will provide the final pieces to our puzzle by connecting modern geophysics with the associated geological evidence collected since last summer, which strongly indicates the potential for an important new discovery at Nickel Mountain."

In addition, Garibaldi is pleased to announce that it has executed a communications agreement with the Tahltan central government to ensure a mutually beneficial long-term dialogue committed to co-operating with local communities with regard to collaborative resource development.

E&L fact sheet

To view an updated E&L fact sheet, please visit the company's home page.

E&L geologic model

To view the E&L geologic model and a comparative of nickel tenors, please visit the company's home page.

Qualified person

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

About Garibaldi Resources Corp.

Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

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