Mr. Steve Regoci reports
GARIBALDI ACCELERATES BUYOUT OF STRATEGIC CLAIMS AT NICKEL MOUNTAIN
With three drill rigs currently building out the Nickel Mountain magmatic nickel-copper-rich sulphide discovery in the heart of northwestern British Columbia's Eskay camp, Garibaldi Resources Corp.'s directors have approved an accelerated buyout for a 100-per-cent interest in 766 strategic hectares, subject to a 2-per-cent net smelter return royalty (please refer to the company's June 15, 2016, news release). No net smelter return royalty is applicable to the balance of the Nickel Mountain project (an additional 5,534 hectares), which covers a multikilometre-long prospective nickel-sulphide trend and is owned 100 per cent by Garibaldi Resources.
Garibaldi Resources has issued a notice to the underlying vendor of the 766 hectares that it will immediately exercise its option for a 100-per-cent interest by paying a balance of $60,000 and issuing 550,000 shares of the company's common stock.
Meanwhile, Garibaldi Resources eagerly anticipates providing shareholders with an exploration update, including initial assay results from the continuing 2018 program during the week of Sept. 17, 2018.
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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