|December 22, 2010|
Garibaldi Grants Option on King Property
|Vancouver, British Columbia - Garibaldi Resources Corp. (TSX.V: GGI) ("Garibaldi") is pleased to announce that it has entered into an option agreement with Global Tree Technologies Inc. ("Global" - TSXV-NEX: GTT) whereby Global can earn, in two stages, up to a 70% interest in two mineral claim blocks comprising 1,720 hectares located in the Iskut River District of northwest British Columbia (the "King Property"). In order to exercise its initial option to acquire a 50% interest in the King Property, Global must complete $500,000 worth of exploration expenditures on the King Property by December 31, 2013, and make payments totaling $90,000 to the original property vendor to Garibaldi. If this first option is exercised, Global will have a second option to increase its interest to 70% by spending an aggregate $1,500,000 on the King Property by December 31, 2014 and issuing 3,000,000 common shares to Garibaldi. The work to be completed and payments to be made by Global will satisfy the obligations of Garibaldi to the underlying vendor from whom Garibaldi had optioned the Property.|
About Garibaldi Resources
Garibaldi Resources Corp. is a Canadian junior mining company focused on the exploration for gold, silver and base metal deposits along the central and northern parts of the highly prolific Sierra Madre mining belt located in northwestern Mexico. The Company controls seven district scale properties covering more than 2,000 square kilometres of prospective stratigraphy surrounding and along strike from some of the most robust gold and silver mining projects ever discovered in Mexico including El Sauzal, Mulatos and Ocampo. As part of the Company's "Rapid Assessment Protocol", the Company is committed to utilizing the world's most sophisticated remote sensing technologies to effectively target major alteration systems commonly associated with significant gold, silver and base metal discoveries.
We seek safe harbour.
GARIBALDI RESOURCES CORP.
per: "Steve Regoci"
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
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