Mr. Steve Regoci reports

GARIBALDI APPLIES TO EXTEND WARRANT EXPIRY DATES

Garibaldi Resources Corp. has applied to the TSX Venture Exchange to extend the term of an aggregate of 2,845,722 share purchase warrants issued in connection with a flow-through and a non-flow-through private placement. The original term of the warrants was two years, of which 2,664,472 warrants currently expire on July 22, 2024, and 181,250 warrants currently expire on Sept. 16, 2024. The company proposes to extend the expiry date for a one-year period to July 22, 2025, for the FT warrants and to Sept. 16, 2025, for the NFT warrants. None of the warrants to be amended were issued to finders or agents. No other terms of the warrants are to be amended and the exercise price remains at 55 cents.

Certain of the FT warrants are held by a party who is considered to be a "related party" of the company. Therefore, the amendment of the related party warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions, and TSX-V Policy 5.9 -- Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon because neither the fair market value of the related party warrants nor the fair market value of the consideration paid for the related party warrants exceeds 25 per cent of the market capitalization of the company. A material change report in respect of this related party transaction will be filed by the company. The extension of the warrants would only be effective upon exchange approval.

Holders of warrants will not receive an amended warrant certificate, and will be required to submit their original warrant certificate in order to exercise warrants.

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 British Columbia and Mexico.