Garibaldi Drilling Update

                          Garibaldi Drilling Update

PR Newswire

VANCOUVER, Feb. 28, 2013

TSX-V: GGI
Frankfurt: RQM

VANCOUVER, Feb. 28, 2013 /PRNewswire/ - Garibaldi Resources Corp. (TSX.V: GGI)
(the "Company") is pleased to report results at the Locust drill target in
Sonora State, Mexico.  To date, 9 holes have been drilled for a total of
1,757.7 meters.  The tenth hole is currently in progress.  This news release
reports new results from holes LCT-12-07 through LCT-12-09 in the table
below.  In general, most of the holes have intersected significant widths of
mineralization

Exploration work has  advanced on  the Aurora and  Marcos Frac.  I and  Marcos 
Frac. II concessions that  were optioned in 2012  (News Releases of  September 
27, 2012 and October 10, 2012).   Mapping and sampling of the concessions  are 
largely complete, and two holes, LCT-12-07 and LCT-12-09 have been drilled  on 
the Aurora  concession.  Sampling  has identified  areas with  anomalous  rock 
geochemistry for  copper  and  gold,  and both  drill  holes  cut  significant 
intervals of low grade gold and copper mineralization at shallow depths.

The work  completed to  date  indicates that  a  large mineralized  system  is 
present.  Surface  sampling and  mapping has  expanded the  known  mineralized 
exposures at  the surface  from the  Company's original  Locust gold  in  soil 
anomaly for approximately 3 kilometres  to the west-southwest onto the  Aurora 
and Marco concessions.  This mineralized area is about 1-2 kilometres wide  as 
currently defined.  Drilling is  planned to continue to  test the area to  the 
west of the holes completed to date.  The Company's shallow-hole drill rig  is 
being utilized to confirm the presence of mineralized rocks at shallow  levels 
prior to drill testing at deeper levels.

Gold-copper mineralization is associated with intermediate intrusive rocks and
tourmaline breccia bodies and is interpreted to be related to a large porphyry
system.  Other porphyry systems are known in the region, including the  nearby 
Cuatro Hermanos  deposit (Virgin  Metals),  the San  Javier deposit,  and  the 
Suaqui Verde deposit (Evrim Resources  and Inmet Mining).  Company  geologists 
have also identified  an apparently later  gold mineralizing event  associated 
with quartz-barite  matrix breccia  bodies.  This  mineralization was  cut  in 
holes LCT-12-05 and  LCT-12-06 that tested  at northwesterly trending  breccia 
body.  Hole LCT-12-05 cut  17.35 meters with 0.51  g/t Au, and hole  LCT-12-06 
cut 18.7  meters of  0.48  g/t Au  (News Release  of  August 16,  2012);  both 
intercepts were  within wider  intervals  of gold  mineralized rock,  and  are 
believed to be approximately true width.

Steve Regoci, President and CEO of  the company stated, "To date,  exploration 
results at Locust indicate a broad envelope of gold and copper  mineralization 
at shallow depths. The  2013 program will focus  on defining and  prioritizing 
potential drill targets at depth".

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.

We seek safe harbour.

GARIBALDI RESOURCES CORP.

per: "Steve Regoci" 
Steve Regoci, President

     Table of selected drill results from the Locust Project.
Drill Hole        From        To       Interval     Au g/t    Cu %
                                         (m)
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   -
                                                                   
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   0.08
LCT-12-06          126.00     167.50        41.50       0.27   0.15
      includes     134.00     167.50        33.50       0.33   0.17
      includes     143.00     167.50        24.50       0.45   0.14
      includes     148.80     167.50        18.70       0.48   0.14
LCT-12-07           23.32      76.00        52.68       0.09   0.08
      includes      38.00      58.00        20.00       0.10   0.11
                                                                   
                    98.61     106.00         7.39       0.20   -
                                                                   
                   123.86     160.20        36.34       0.06   0.10
      includes     152.63     159.00         6.37       0.17   0.25
LCT-12-08            6.36      44.00        37.64       0.16       
      includes       6.36      20.79        14.43       0.27       
      includes       6.36      13.26         6.90       0.48       
                                                                   
                    38.60      44.00         5.40       0.26       
                                                                   
                    49.10      52.00         2.90       0.25       
                                                                   
                    60.00      64.00         4.00       0.22       
                                                                   
                   149.00     151.00         2.00       0.55       
LCT-12-09            0.00       3.62         3.62       0.28       
                                                                   
                    70.54     104.70        34.16       0.15   0.11
      includes      76.30      90.33        14.03       0.22   0.13
      includes      80.33      86.33         6.00       0.28   0.15
Results from holes LCT-11-03 to LCT-11-06 were released previously.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or the accuracy of this release.

 

 

SOURCE Garibaldi Resources Corp.

Contact:

GARIBALDI RESOURCES CORP.
1150 - 409 Granville Street
Vancouver, BC V6C 1T2
Telephone: (604) 488-8851  Website: www.garibaldiresources.com