Mr. Steve Regoci reports

GARIBALDI DRILL TESTS NEW HIGH-GRADE AREA NORTH OF SILVER EAGLE DISCOVERY HOLE

Garibaldi Resources Corp. has confirmed high-grade silver mineralization through assays from channel sampling 150 metres north of Silver Eagle discovery hole SE-14-01 at the Rodadero North project in central Sonora state, Mexico. This area will be drill tested beginning later this week in an attempt to expand the Silver Eagle system in a northerly direction.

All drill holes completed to date at Silver Eagle, with the exception of SE-14-05, have been to the south of SE-14-01 where mineralization remains open and has been traced for an additional three kilometres south beyond the Reales target in sampling of surface outcrops and small underground workings. The company eagerly anticipates receiving the next batch of assay results (drill holes SE-14-07 through SE-14-12) during the first half of December.

Silver Eagle is the westernmost of 11 target areas defined over more than 45 square kilometres at Rodadero North where mineralization transitions from primarily high-grade silver at Silver Eagle, discovered through sampling and shallow drilling, to high-grade gold, silver and base metals trending eastward. A drill plan map for the Tarichi target, 2.5 kilometres southeast of Silver Eagle, is now available at the company's website.

Channel samples return up to 881 grams per tonne silver

Two immediate drill holes will test for continuity of mineralization to depths of less than 100 metres at the new surface discovery north of SE-14-01. All five channel samples from a shallow pit returned significant silver grades: 881 g/t (28.3 ounces per tonne), 771 g/t, 763 g/t, 452 g/t and 87 g/t. Widths ranged from 1.4 to 1.9 metres. The average grade was 604 g/t Ag over an average width of 1.6 metres.

Steve Regoci, president and chief executive officer of Garibaldi, commented, "Given results generated to date by drilling, sampling and our hyper-spectral technology, and the fact that this project is situated in the heart of a prolific mining region, we're extremely excited with what we see at Rodadero as the emergence of a new mineral camp in central Sonora state."

By the nature of the biases of sampling, the above results are not necessarily representative of mineralization at Rodadero North in general or, specifically, within the zones, structures or geological features that were sampled.

Mineralization at Silver Eagle is hosted in silicified conglomerate and overlying andesitic volcanic rocks along a north-northwest-trending structural zone. Mineralization also appears to be associated with the stratigraphy of the conglomerate.

Rodadero North video

To view a two-minute Garibaldi video on the Rodadero discovery, please visit the home page of the company's website.

Qualified person

Dr. Craig Gibson, certified professional geologist and a director of Garibaldi, is a non-arm's-length qualified person for the company's Mexico projects and the direct manager of the technical programs operated under contract by Prospeccion Y Desorrollo Minera del Norte. Dr. Gibson has reviewed this news release and approved the content thereof.