Garibaldi Drills 18 Meters of Massive Sulphide Within 86-Meter Interval at Nickel Mountain Discovery

VANCOUVER, Aug. 9, 2019

VANCOUVER, Aug. 9, 2019 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to provide the following update as two drill rigs continue to aggressively build out Northwest British Columbia's first magmatic nickel-copper-rich massive sulphide discovery in the heart of the Eskay Camp near the past producing Eskay Creek mine.

Highlights:

• The first hole of the 2019 season, EL-19-47, has intersected 6.1% nickel and 2.8% copper (plus cobalt, platinum, palladium, gold and silver) over 9.32 meters within a broader near-surface interval of 50.57 meters (estimated true width is 40.45 meters) containing 1.50% nickel and 0.94% copper, extending the Lower Discovery Zone (LDZ) to the southeast. The massive sulphide intercept in EL-19-47 is approximately 64 meters southeast of the EL-17-14 massive sulphide intercept;
• Drill hole EL-19-53 (assays pending) has cut the widest massive sulphide intersection to date - 18 meters featuring a characteristic Nickel Mountain "leopard print texture" within 86 meters (estimated true width is 68.8 meters) of nickel-copper-rich mineralization from 67 meters to 153 meters. EL-19-53 thickens and extends the robust LDZ along a shallow western plunge on the south flank of the E&L Intrusion;
• In addition to successful step outs beyond the five known mineralized zones, objectives of early 2019 drilling are to confirm the presence of an olivine gabbro chamber beneath the LDZ while also linking the Northwest Zone with the Crevasse Zone. The Company is confident in terms of achieving these objectives and eagerly awaits more assay results.

Jeremy Hanson, VP Exploration for Garibaldi, commented: "2019 drilling is off to a highly successful start as we test for new mineralized structures. Our understanding of the structural controls on mineralization continues to improve, allowing for very productive targeting for infill and step out drilling.

"Lab efficiencies are speeding up delivery of assays compared to 2018 and 2017," Hanson added. "Beginning with these SGS results from our first hole, we expect they will be able to sustain better turnaround times this month for completed holes, including EL-19-53. The E&L system remains open in multiple directions after 14 holes (3,400 meters) drilled to date this summer."

Drill Hole EL-19-53

EL-19-53 is the most extraordinary hole drilled so far at Nickel Mountain given 18 meters of massive sulphide, 4.5 meters of net-textured to semi-massive sulphide, 7 meters of sediments containing semi-massive sulphide, and 56.5 meters of mineralized orbicular gabbro (moderate to strongly disseminated) in a thick continuous 86-meter intersection with increasing sulphide percentage downhole (vs. 16.75m of massive sulphide within a 40.4m core length interval in discovery hole EL-17-14 - see Dec. 8, 2017 news release).