Garibaldi Drills 18.2 Meters of 7% Nickel and 3.8% Copper at Nickel Mountain

VANCOUVER, Sept. 12, 2019

VANCOUVER, Sept. 12, 2019 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to provide the following Nickel Mountain update including additional assay results as 2019 diamond drilling continues to build out Northwest British Columbia's first magmatic nickel-copper-rich sulphide system in the heart of the prolific Eskay Camp.

Highlights:

• Drill hole EL-19-53, filling a gap on the northwest part of the Lower Discovery Zone (LDZ), has cut 30.2 meters of 4.74% nickel and 3.22% Cu (plus cobalt and precious metals) including 18.2 meters of 7.04% nickel and 3.81% copper within a broader intercept of 86.5 meters (65 m to 151.5 m) averaging 1.88% nickel and 1.32% copper (true width estimated at 69.2 meters);
• Drill hole EL-19-48 has intersected 7.12% nickel and 3.34% copper over 4.76 meters within 44.5 meters of 1.20% nickel and 0.79% copper (true width estimated at 35.6 meters), widening the LDZ by 12 meters to the northeast;
• Drill hole EL-19-54 (assays pending) has extended the Lower and Upper Discovery Zones to the west by 14 meters and 33.5 meters, respectively. Significantly, it has also intersected strongly mineralized olivine gabbro at depth (302 m to 324.7 m) in a second magma chamber that plunges toward the southeast where a potential feeder zone may exist. EL-19-54 cut six separate intervals of mineralization totaling 142 meters including a total of 8.9 meters of massive sulphides and 133 meters of mineralized gabbro and sediments;
• Additional assaying by SGS and Actlabs of selected interval samples reported in 2017 and 2018 has revealed that the Nickel Mountain massive sulphides are unusually enriched with rhodium, iridium, osmium and ruthenium compared to global magmatic sulphide mineralization.

Steve Regoci, Garibaldi President and CEO, commented: "The improved structural understanding of the known zones at Nickel Mountain is leading to increasingly robust results and new discoveries. It has also aided us in developing strategic new drill pad locations that now allow our crews to explore the E&L from a different geometry.

"We eagerly anticipate providing investors with additional updates including multiple new assay results during the second half of September," Regoci added.

Drill Hole EL-19-53

EL-19-53, processed on a rush basis, represents the widest massive sulphide intercept (18.2 meters) and the longest section of continuous mineralization (86.5 meters) east of the historic E&L deposit since Garibaldi discovered the high-grade Lower and Upper Discovery Zones in its first-ever drill program at Nickel Mountain in 2017.