Vancouver - Garibaldi Resources (TSXV: GGI) (the 'Company' or 'Garibaldi') is pleased to report on the deep penetrating 2021 ZTEM survey completed by Geotech over Garibaldi's 180 sq.km Nickel Mountain - PSP Claim Groups, in the Eskay Camp of northwest British Columbia.

The results of proprietary 3D inversion processing, has identified a large anomalous zone directly below, along trend and continuous with the drill confirmed mineralized E&L gabbro.

Most significantly, the large low resistivity / elevated conductivity ZTEM response beneath the limits of drilling at E&L, is broad, continuous and plunges directly below the nickel-copper-cobalt PGE bearing intrusion, which is host to numerous high grade massive sulphide lenses. This response along the keel of the E&L Intrusion is surprising in scale, with an east-west lateral extent exceeding 3km width and plunging over 2 kms to below the valley floor at the base of Nickel Mountain.

The center of the ZTEM response beneath E&L is located 400m below the thickest portion of the mineralized differentiated Eastern extension of the E&L Intrusion, indicating where the mineral system may continue at depth. The up-plunge of the ZTEM anomaly extends towards surface in the area of the West E&L targets, where mineralized boulders of E&L type gabbro with similar sulphide mineralization to E&L are associated with outcropping gabbros. The entire keel of the E&L Intrusion from West E&L along the plunge trend is untested and may be part of a bladed dyke in which mineralization was concentrated in multiple magma conduits.

The large ZTEM response beneath E&L greatly expands the potential for further discovery beneath and around E&L. The survey also revealed numerous anomalous responses throughout the remainder of the property, many of which correspond to surface mineralization. Garibaldi's technical team will be evaluating these additional anomalies and reporting on these targets in the coming weeks.

ZTEM is an airborne electromagnetic survey system which detects anomalies in the earth's natural magnetic field. These disruptions are caused by zones of rock that conduct or resist electrical current more than the surrounding rock, which may represent mineralization, to depths of up to 2000 meters. The ZTEM survey results will help to identify potential deep-seating mineral zones in areas with prospective geology, mineral occurrences and/or shallow conductive response.

About Garibaldi

Garibaldi Resources Corp. 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.

Contact:

Tel: (604) 488 8851

Fax: (604) 488 8871

Email: info@garibaldiresources.com

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