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Volume 178,799
Franfurt: RQM

News Releases

Extension of Morelos Option

June 29, 2009

Garibaldi Resources Corp. (“Garibaldi”), is pleased to announce that it has entered into an amendment of its Property Option Agreement with Minera Gama S.A. de C.V. (“Minera Gama”) regarding the Morelos Project situated in the State of Chihuahua, Mexico. The amendment, effective April 26, 2009, amongst other things, eliminates the three further tranches of shares and warrants to have been issued by Garibaldi to Minera Gama in April 2009, October 2009 and April 2010, extends the due date for the US$2,00,000 balloon payment to be made by Garibaldi to Minera Gama from January 27, 2010 to April 27, 2012 and extends the date for the exercise by Garibaldi of its right to buy-down 1% (half of) Minera Gama””””s retained royalty for US$1,000,000 from April 27, 2011 to July 27, 2013. In consideration for the amendments, Garibaldi has agreed to make a one-time payment to Minera Gama of 400,000 common shares of Garibaldi capital stock.

per: “Steve Regoci” Steve Regoci, President

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