Garibaldi Channel Sample from Casper Assays 93.29 g/t Gold, Casper Trench Returns 5.69 g/t Gold Over 52 Meters

TSXV: GGI OTC: GGIFF Frankfurt: RQM

VANCOUVER, BC, Sept. 29, 2020 /CNW/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce new assay results from channel sampling at the "Casper" high-grade gold quartz vein discovery. Casper is located 13 km north of the Company's flagship E&L nickel-copper-cobalt massive sulphide project in Northwest British Columbia.

Garibaldi owns a 100% interest in over 180 sq. kms of highly prospective mineral claims in the heart of the historic Eskay camp. The claim group has excellent infrastructure, with nearby road access and power, the Company's geological team can explore multiple targets from one base camp location.

The discovery of a low elevation (430 meters) high-grade gold prospect nearby to the E&L project, has contributed to the accelerated surface exploration and rapid advancement of the expanding Casper gold vein system to drill readiness. Garibaldi crews have completed a rock saw channel sampling program over exposed sections of the 130 meters now uncovered by mechanized trenching over the main Casper gold quartz vein, the highlights of which are as follows:

Highlights:

The Casper project geological team completed an unbiased channel sampling program collecting a total of 94 in-situ quartz vein samples cut every meter along the trenched vein exposed which remains open along its NW-SE strike;

A total of 61 Channel sample assays returned gold grades ranging from 0.676 g/t gold up to 93.29 g/t gold from a Channel sample that contained visible gold; The Casper quartz vein system remains open with mineralized rock samples extending along trend for 330 meters. Recent infill soil samples returned up to 500 ppb gold 140m along trend northwest of the northernmost channel;

Sulphide mineralization in the Casper quartz vein system include chalcopyrite, galena, pyrrhotite, pyrite and arsenopyrite with native gold. In addition to four new mineralized veins discovered in 2020, a significant IP resistivity low occurring 100 meters south of the main Casper vein is now under investigation; The discovery of the Casper gold quartz gold vein system is along the robust and under-explored mineralized McLymont Creek structural corridor, west of the Eskay rift. Volcanic and sedimentary rock units outcropping along faults near geochemical and geophysical anomalies are being sampled and mapped. Garibaldi is also making application to the TSX Venture for an extension of the $4.50 warrants, set to expire October 19, 2020 (2,539,683 warrants) and October 26, 2020 (634,920 warrants) for two additional years.

Jeremy Hanson, Garibaldi VP-Exploration, stated: "These Casper vein channel sample assays provide very positive results, proving there are significant sections of continuous gold mineralization. The discovery of new mineralized veins within the 2 square km target area, additional trenching and ground truthing new gold-in soil anomalies, is turning this into a very exciting prospect.

The expanding Casper vein system may represent the surface expression of a much larger system at depth. The number of mineralized veins, found 50 to 100 meters from the main vein, the geophysical anomalies identified and a volcanic unit found outcropping 300 meters east containing up to 4.2 g/t gold are especially encouraging. We're looking forward to extending the gold mineralization beyond the most eastern 249 g/t grab sample and testing the vein system with a drill this fall."

2020 Casper Channel Sample Composites

Casper Channel Sample Highlights

Casper Channel Sample Map

See www.garibaldiresources.com for the latest Casper map displaying high grade gold channel samples, mineralized quartz veins and geochemical anomalies.

Quality Assurance/Quality Control (QA/QC)

All channel rock samples were taken at surface in outcrop at 1 meter spacing using a 14" circular diamond blade cut off saw. Two cuts were made approximately 10cm apart to a depth of 10-15cm then a continuous channel of rock between the cuts was removed with a hammer and chisel. The channel samples were cut perpendicular to the strike of the vein. Channel samples ranged from 0.29 and 1.60m in length. Sample tags were submitted into each bag, the rock was then described, logged, then sealed and shipped to SGS Canada Inc. in Burnaby BC, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), and Fire Assay (FA) methods.

All sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process.

Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 105 microns. Gold was analyzed using a 50-gram fire assay and ICP-AES, or metallic screen for coarse gold. Samples with coarse visible gold are subject to the nugget effect, may be difficult to reproduce or duplicate and may not be indicative of the overall mineralization of the vein. Samples with visible gold were analyzed using the Metallic Screen method where a minimum 500 gram sample is crushed and separated into two batches. A Minus batch with particles less than 106 microns, and a Plus batch with particles greater than 106 microns. Both batches of the sample are analyzed with a fire assay and finished with AAS, ICP-OES or gravimetric depending on grade. A final weighted average is calculated from the two portions.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Jeremy Hanson, a qualified person as defined by NI-43-101.

All coordinates given in this document are in WGS 84 UTM Zone 9 North

Qualified Person & Data Verification

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

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 most prolific mining regions in British Columbia and Mexico.

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.

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SOURCE Garibaldi Resources Corp.

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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 07:30e 29-SEP-20