Vancouver, British Columbia - June 1, 2010 � Garibaldi Resources Corp.
(TSX.V: GGI) (the "Company") �) is pleased to provide an exploration
update on its 100% owned 48,000 hectare Tonichi/Onovas property in Sonora
State, Mexico. Various stages of exploration activity are ongoing on
several high priority alteration target areas outlined by the Company's
hyperspectral survey. As part of the Company�s �Rapid Assessment
Protocol� exploration strategy to develop and feed a project pipeline,
the Company is in the process of evaluating high priority hyperspectral
targets compiled from the 2100 km2 survey block covering the
Tonichi/Onovas property. This is a methodical low-cost exploration process
focused on an early stage systematic appraisal to try and quickly advance
or eliminate selected targets. A list of high priority targets is also
being compiled from 5 separate hyperspectral survey blocks covering more
than 2,000 km2 of the Company�s Sierra Madres concessions located in
three States; Sonora, Chihuahua and Durango.

On the Rembles prospect located in the southeast part of the
Tonichi/Onovas property, a total of 3 diamond drill holes, for a total of
425 m, were recently completed using the companies NQ diamond drill rig.
The drilling was part of an originally proposed 8 hole, 1200 m drill
program designed to test a northeast�southwest striking, up to 50 m
wide, quartz-hematite breccias zone initially discovered by Garibaldi
geologists prior to the interpretation of the hyperspectral survey
results. The initial 3 drill holes tested the down-dip extension of the
most eastern part of the 300 m long mineralized breccias zone where
surface grab samples from historic working returned grades of up to 21.7
g/t Au. The core samples from all 3 drill holes did not return any
significant Au assay results suggesting the Au mineralization has pinched
out or is fault off-set in this area. Any further drilling will await the
results from more detailed mapping, trenching and sampling as well as
ground geophysics to better understand and target the down-plunge
continuation of this mineralized system along strike to the southwest.
Surface grab samples taken from a new road cut approximately 600 m to the
south of the Rembles workings also returned assay grades of up to 3.4 g/t
Au and 770 g/t Ag.

Exploration activities in the Locust �gold in soil� target area,
located 20 km north of Rembles, are presently ongoing with the completion
of a series of access roads extending for more than 4 km. The access roads
cross through the main part of a high Au-Cu soil geochemical anomaly
coincident with the intense hematite-argillite alteration target outlined
initially in the Company�s hyperspectral survey. The main part of the
Locust �gold in soil� geochemical anomaly continues east-west over a
strike length of more than 650 m with peak grades of up to 3.78 g/t Au and
0.16% Cu. A total of 6 trenches were dug extending north-south from the
main access road at 200 m to 300 m intervals over a strike length of more
than 1 km. These trenches crosscut the main trend of the Locust target to
facilitate surface mapping and sampling. A total of 342 chip and grab
samples were collected from the trenches and road cuts and sent to ALS
Chemex, in Hermosillo for geochemical analysis. Assays results are
pending.

Coinciding with the trenching program, a ground magnetometer survey was
completed over the Locust "gold in soil" anomaly using the company's own
technical staff and the Company�s newly acquired GEM GSM-35P potassium
magnetometer system. The survey was carried out to assist with geological
mapping and targeting of the Au mineralization to the west into the
sediment covered arroyos. Based on the interpretation of the ground
magnetic field data and detailed mapping, the Au mineralization is
expected to continue westward along strike into the arroyos under
overburden cover. Assay results from the trenching program will determine
the next stage of exploration which will likely involve more detailed
ground work and diamond drilling using the Company�s NQ diamond drill
rig. A commercial diamond drill contractor is also being considered for a
potentially larger scale program.

As part of the ongoing hyperspectral target evaluation process, Garibaldi
geologists conducted a preliminary field evaluation of the hyperspectral
Target 10 area located approximately 15 km due west of Locust. Target 10
is a yet un-named 6 km long by 3 km wide intense hematite-argillite
alteration hyperspectral anomaly potentially outlining a large porphyry or
high sulphidation epithermal system in this area. Initial field results
seem to indicate that, locally, the target is associated with intense
hematite-argillite alteration of a series of andesite volcanic and
volcanoclastic rocks, suggesting that a high sulphidation epithermal
system may have developed in the area. It is felt that the scale of the
alteration outlined by the hyperspectral survey makes it an ideal target
next in line for further evaluation. A larger regional scale soil
geochemical sampling program along with a ground magnetometer survey is
planned for this area.

Garibaldi continues to evaluate targets and analyze hyperspectral data
from its Badesi, Rodadero, Morelos and Iris concessions and will provide
updates as information become available. President and CEO Steve Regoci
says �Our exploration team is fully committed to our highly effective
low-cost rapid assessment evaluation process and we are extremely excited
about our prospects of making a new discovery in the highly prospective
Sierra Madres of northwest Mexico�.

Richard T. Osmond, P.Geo., a Qualified Person under the meaning of
Canadian National Instrument 43-101, is responsible for the technical
content of this news release.

 

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.


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