TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Jan. 31, 2014 /PRNewswire/ - Garibaldi Resources
Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to
report that it has expanded the size of its Grizzly Property in the
Sheslay Valley of northwestern British
Columbia by nearly 50% to 262 sq. km through staking and the
acquisition of the Hat East and Hat East 2 claims.
Grizzly Strike Extension Claims
At the recommendation of its geological team,
Garibaldi has staked 6,609 hectares contiguous to the eastern flank
of the Grizzly to cover projected extensions of known mineral
occurrences over a wide corridor coincident with magnetic
anomalies, trending SE/NW for at least 15 km.
Based on work completed to date, compilation of
regional data and nearby drilling results, Garibaldi considers the
Grizzly, located in the heart of the Sheslay Valley within the
prolific Stikine Arch, to be an exceptional opportunity in an
emerging copper-gold porphyry mining camp with world class
potential. Garibaldi's geologists continue to review data as
they finalize plans for an aggressive 2014 exploration season at
the Grizzly including a scheduled first-ever drill program.
Hat East and Hat East 2 Claims
Garibaldi is pleased to announce the acquisition
of the Hat East and Hat East 2 claims comprising approximately
1,653 hectares adjacent to the Grizzly and just over 1 km east of
the recently announced discovery by Doubleview Capital Corp. at its
Hat Property (see Doubleview news release January 20, 2014). The claims are
considered highly prospective for copper-gold porphyry
mineralization and will now form part of the Grizzly
Property. The Grizzly is also contiguous to the southern
boundary of Doubleview's Hat Property.
Under the terms of the arms-length agreement for
the Hat East and Hat East 2 claims, Garibaldi will issue 100,000
shares in exchange for a 100% interest subject only to a 2% NSR in
favor of the vendor, half of which Garibaldi can buy back for
$1 million.
Garibaldi - Largest Sheslay Landholder Among
Juniors
With more than 26,000 hectares, Garibaldi holds
the largest land position among juniors in the Sheslay
district. Teck Resources Ltd.'s Eagle Property, contiguous to
the southern border of the Grizzly, totals approximately 60,000
hectares.
An updated Sheslay Valley regional map is
available on the Garibaldi web site
(www.GaribaldiResources.com).
Qualified Person
Carl von
Einsiedel, P.Geo., a non-independent geological consultant
and a Qualified Person as defined by NI-43-101 has reviewed this
release and approved the geological content thereof.
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 of
Mexico and British Columbia.
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.
SOURCE Garibaldi Resources Corp.