|August 07, 2009|
Stock Option Grants and Price Amendments
|Garibaldi Resources Corp. (the "Company") is pleased to announce that it has granted to directors and officers of the Company Incentive Stock Options on 1,000,000 shares of the Company's capital stock, exercisable for up to five (5) years, at a price of $0.20 per share, which price is not lower than the last closing price of the Company's shares prior to this announcement, less the applicable discount. The options are granted pursuant to the Company''''s Stock Option Plan and will be subject to applicable regulatory hold periods.|
The Company has also agreed to re-price options on 2,100,000 shares previously granted at prices from $0.25 per share to $0.60 per share to $0.20 per share. The amendment to the option pricing is subject to the approval of the TSX Venture Exchange and, with respect to 1,100,000 of the options that were granted to directors of the Company, disinterested shareholder approval to be sought at the next Annual General Meeting of the Company. The options are not exercisable at the amended price until all required approvals have been obtained. Upon amendment, the options will be exercisable for the balance of their original term.
GARIBALDI RESOURCES CORP.
per: "Steve Regoci" Steve Regoci, President
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