Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES INVESTMENT IN GARIBALDI RESOURCES

On May 4, 2018, 2176423 Ontario Ltd., a corporation which is beneficially owned by Eric Sprott, purchased 2,167,000 common shares of Garibaldi Resources Corp. pursuant to two private agreements at a price of $2.40 per share for total consideration of $5,200,800.

The acquisition represents approximately 2.03 per cent of the outstanding shares on a non-diluted basis and approximately 1.95 per cent on a partially diluted basis assuming the exercise of share purchase warrants of Garibaldi Resources beneficially owned or controlled by Mr. Sprott. After giving effect to the acquisition, Mr. Sprott beneficially owns or controls 19,485,428 shares and 4,705,562 share purchase warrants (representing approximately 18.3 per cent of the outstanding shares on a non-diluted basis and approximately 21.8 per cent on a partially diluted basis). Prior to the acquisition, Mr. Sprott beneficially owned or controlled 17,318,428 shares and 4,705,562 warrants (representing approximately 16.3 per cent on a non-diluted basis and 19.8 per cent on a partially diluted basis).

The shares were acquired by Mr. Sprott through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Garibaldi Resources either on the open market or through private acquisitions, or sell securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

2176423 Ontario is relying on the private agreement exemption set out in Section 4.2 of National Instrument 62-104 -- Take-Over Bids and Issuer Bids. Garibaldi Resources is located at Suite 1150, 409 Granville St., Vancouver, B.C., V6C 1T2. A copy of 2176423 Ontario's early warning report will appear on Garibaldi Resources' profile on SEDAR and may also be obtained by calling Mr. Sprott at 416-362-7172.