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Garibaldi drill results extends mineralization at Locust Target, Tonichi Project, Sonora, Mexico

August 16, 2012

TSX-V: GGI
Frankfurt: RQM

VANCOUVER, Aug. 16, 2012 /PRNewswire/ – Garibaldi Resources Corp. (TSX.V: GGI)
(the “Company”) reports that it continues to intercept significant
widths of mineralization (see news release of April 24, 2012) at the
ongoing Locust drill program, located at the Company’s 100% owned
Tonichi project in Sonora State, Mexico. To date, 5 diamond drill holes
have been completed using the Company’s NQ diamond drill, for a total
of 1180.8 meters drilled, with an additional hole in progress. An
additional 50 to 70 meters will be added on hole number 6 before
starting hole number 7. Hole LCT-12-5 has encountered gold
mineralization of 0.33 g/t Au over 63.85 meters and hole LCT-12-6
encountered 24.5 meters of 0.45 g/t Au.  Assay results from all holes
are summarized in the table below.  Note that data from some holes was
previously released but is included here for completeness.

Selected assay results from the Locust target.


    Drill Hole   From   To     Interval (m)                 Au g/t

    Results as Previously Reported

    LCT-11-01    Some anomalous Au from 35.0 to 80.0 meters  

    LCT-11-02    Some anomalous Au from 23.0 to 43.0 meters  

    LCT-11-03    141.05 155.00 13.95                        1.25

                 167.00 173.80 6.80                         0.33

    LCT-11-04    55.00  61.40  6.40                         1.12

    New Results  

    LCT-12-05    79.50  83.85  4.35                         0.48

                 96.00  159.85 63.85                        0.33

    includes     98.00  108.00 17.25                        0.51

    and          131.75 137.00 5.25                         0.72

    LCT-12-06    143.00 167.50 24.50                        0.45

    includes     148.80 167.50 18.70                        0.48

      Anomalous gold are values of 0.1 to 0.33 g/t Au.

Steve Regoci, President of the Company, stated, ”The style of
mineralization evident is similar to a number of recent discoveries in
the region. These early results are consistent with the potential for
Locust to host a bulk tonnage gold deposit.”

Holes 5 and 6 tested a breccia with quartz and barite in the matrix and
appear to have cut the same body separated by about 120 meters.  It is
unclear whether hole 3, a further 200 meters west, cut this same body
or is a separate structure. Hole 4 explored a separate structure
identified by mapping.  Holes 1 and 2 tested a stratigraphic model for
mineralization in the layered volcanic sequence.

About the Tonichi Project:

The Tonichi project is located in the prolific Sierra Madre Precious
Metal Belt eastern Sonora State, Mexico, and covers 47,000 hectares
(please visit www.garibaldiresources.com to view project maps). The project land package abuts the properties
surrounding several exploration projects including Promontorio
(Kootenay Silver) and the Luz de Cobre-San Antonio de la Huerta (Red
Tiger Mining, formerly Zaruma Resources).

Quality Assurance:

Garibaldi has conducted a QA/QC program whereby blind sample blanks are
inserted in the drill core sample stream prior to being sent to the
laboratory. Samples were prepared and analyzed by ALS Chemex in their
facilities in Mexico and Vancouver, respectively. Samples generally
consisted of 1-3 kg of material. Gold analyses were performed by 30
gram fire assay with an AA finish. Silver and the base metals were
analyzed as part of a multi-element ICP package using an aqua regia
digestion.

Dr. Craig Gibson, PhD., Certified Professional Geologist, and a Director
is the Qualified Person for the Tonichi Project and the direct manager
of the technical programs operated under contract by Prospeccion y
Desarrollo Minero del Norte (ProDeMin).  Dr. Gibson has reviewed and
approved the contents of this News Release.

GARIBALDI RESOURCES CORP.

per: “Steve Regoci” 
Steve Regoci, President

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this News
Release.

 

SOURCE Garibaldi Resources Corporation


Source: PR Newswire