Garibaldi Drills 7.7% Nickel Over 4.8 Meters Within 49-Meter Intercept in New Shallow Zone at Nickel Mountain

VANCOUVER, Feb. 21, 2019

VANCOUVER, Feb. 21, 2019 /PRNewswire/ - Garibaldi Resources (TSX.V: GGI) (the "Company") or "Garibaldi") is pleased to announce that the Company has drilled into widespread near-surface nickel-copper sulphide mineralization including massive sulphides in what is now referred to as the "Northeast" zone at Nickel Mountain, further building on the Golden Triangle's first nickel-copper-rich sulphide system that also includes cobalt, platinum, palladium, gold and silver.

The shallow new Northeast zone, located above the "Upper Discovery" and "Lower Discovery" zones, has now been intersected in three drill holes and is open to the east and north.

Highlights:

• Drill hole EL-18-33 cut three separate intervals highlighted by 4.8 meters of massive sulphides featuring 7.7% nickel and 2.95% copper within a broader 49-meter intersection starting at a downhole depth of just 37.9 meters and grading 1.34% nickel and 0.89% copper (see attached map).
• This textbook magmatic sulphide intersection in EL-18-33 started 37.9 meters downhole within a well mineralized taxitic gabbro chamber above, grading from disseminated into semi-massive sulphides at 75.7 meters downhole, and then massive sulphides starting at 77.1 meters. Disseminated mineralization exceeding combined 1% nickel-copper threshold was intersected further down the hole in two separate intervals starting at 94.5 meters and 143.1 meters, respectively, including a precious metal-rich 1.0-meter interval (95.9 m to 96.9 m) highlighted by 4 g/t palladium, 2.7 g/t platinum, 2 g/t gold and 14.9 g/t silver in an area that warrants further investigation;
• Drill hole EL-18-30, collared from the same location as EL-18-33 but drilled slightly further toward the east, also intersected the shallow Northeast zone massive sulphide sequence. Assays returned 7.8% nickel and 3.2% copper over 3.2 meters within a broader 9.7-meter interval grading 3% nickel and 1.6% copper. EL-18-30 also cut two other intervals of disseminated mineralization exceeding 1% nickel-copper threshold, starting from surface;
• A detailed review of geological and geophysical information pertaining to the Upper Discovery and Lower Discovery zones has revealed a robust flat-lying massive sulphide system with continuity that remains open for expansion in multiple directions as shown in new maps attached to this news release.
• Assay results for the final 13 holes of the 2018 program (EL-18-34 through EL-18-46) are pending and will be released when received, reviewed and interpreted.

Dr. Peter Lightfoot, Technical Adviser for Garibaldi, commented: "EL-18-33 and EL-18-30 confirm the exceptionally high grades of the massive sulphide mineralization in the new Northeast zone, first detected in EL-18-23 (see Oct. 21, 2018, news release), at shallow levels on the northern flank of the E&L Intrusion.

"What's most striking to me about the Upper and Lower Discovery zones, upon review of extensive data, is not just the grades but how the massive sulphide sheets are gently dipping and appear to be stacked at the southern margin of the E&L Intrusion," Dr. Lightfoot continued. "The observation these zones are stacked on the south flank of the Intrusion and also developed on the north flank adds an important guide in exploration of the E&L Intrusion at depth and along strike. There are analogues to this among nickel sulphides deposits elsewhere around the globe."

Composite grade intervals of EL-18-33