Mr. Steve Regoci reports

GARIBALDI EXPANDS ON NICKEL MOUNTAIN CENTRAL ZONE DATA

As a result of a review by the British Columbia Securities Commission, Garibaldi Resources Corp. is issuing the following news release to clarify the disclosure in its news release of Oct. 18, 2018.

In Garibaldi's Oct. 18, 2018, news release, the company announced that initial shallow drilling in the new Central zone intersected visually strong nickel-sulphide mineralization over significant widths to a depth of 75 metres with assays pending.

Drill hole EL-18-41 cut two zones of visually strong nickel-sulphide mineralization over core lengths of 18.7 metres (9.58 m to 28.3 m) and 21.8 metres (54.1 m to 75.9 m), respectively. The first zone featured variable textured gabbro with strongly disseminated sulphides and bottomed in semi-massive and massive sulphides (50 per cent to 98 per cent sulphides) over the final 1.7 metres of the zone. The second zone started at a depth of 54.1 metres and continued to 75.9 metres, again featuring variable textured gabbro along with moderate disseminated sulphides throughout the 21.8 metres. EL-18-41 was drilled to give geologists a better understanding of orientation of this zone to aid in targeting for subsequent holes.

Garibaldi also announced that three massive sulphide showings (Crevasse, Gully and Cliff) have been identified in the Central zone, exposed by a receding ice field and featuring a classic Nickel Mountain pyrrhotite-pentlandite-chalcopyrite mineral assemblage. XRF analysis completed on samples from the Crevasse showing supports a grade profile consistent with the Discovery zone. A Niton XL5-Mining model XRF was utilized to analyze samples with final results subject to confirmation by chemical analysis at SGS labs. The company awaits the results of 16 in situ selected samples from the Crevasse showing taken over the full length of the structure, which is exposed for 34 metres and then trends under the ice in both directions (east-west).

Drilling continues at Nickel Mountain and Garibaldi eagerly anticipates providing another update on the E&L Nickel Mountain program shortly.

Quality assurance/quality control (QA/QC)

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&L Nickel Mountain project using best industry practice. All core was logged by or under the supervision of an accredited professional geoscientist and selected intervals were sampled. NQ2 drill core was sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, B.C. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory.

All diamond drilling sample batches included 5 per cent QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, B.C. Samples were submitted to SGS Canada Inc. in Vancouver, B.C., an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using inductivity coupled plasma (ICP), fire assay and Leco methods.

Samples were prepared by crushing the entire sample to 75 per cent, passing two millimetres, riffle splitting 250 grams and pulverizing the split to better than 85 per cent passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by peroxide fusion and ICP-MS.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Everett Makela, PGeo, a qualified person as defined by National Instrument 43-101.

Qualified person and data verification

Everett Makela, PGeo, director/vice-president of exploration Canada for the company, and a qualified person as defined by NI 43-101, has supervised the preparation of, and has reviewed and approved of, the disclosure of information in this news release. Mr. Makela has verified the data, including drilling, sampling, test and recovery data by supervising all such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

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.

We seek Safe Harbor.