Garibaldi Closes $13 Million Financing

TSXV: GGI OTC: GGIFF Frankfurt: RQM

VANCOUVER, May 7, 2018 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce the closing of an over-subscribed non-brokered private placement with strategic investors for gross proceeds of $13,052,772 (CDN). The flow-through financing was priced at $3.35 per share (see April 17, 2018 news release).

The Company will issue a total of 3,896,350 shares. All shares from the private placement are subject to a four-month hold period from the date of issuance. A finder's fee commission of $150,388.63 was paid on a portion of the placement and is subject to TSX Venture approval.

Proceeds from the financing will be used to further advance the Company's 100%-owned E&L Nickel Mountain Project in the prolific Eskay Camp.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the richest mining regions of Mexico and British Columbia.

We seek safe harbor.

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.

View original content:http://www.prnewswire.com/news-releases/garibaldi-closes-13-million-financing-300643438.html

SOURCE Garibaldi Resources Corp.

View original content: http://www.newswire.ca/en/releases/archive/May2018/07/c7949.html

%SEDAR: 00004262E

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

CO: Garibaldi Resources Corp.

CNW 08:00e 07-MAY-18