Garibaldi Updates on Mexican, British Columbian Operations

Garibaldi Resources Corp. (TSXV:GGI) provided an exploration and corporate update, commenting that in Mexico, it has drilled six new holes at the gold-copper Locust target, while its pilot program at Tonichi is generating royalty income.

The company has also been working at its British Columbia-based Grizzly property:

Garibaldi has just completed, through Precision GeoSurveys Inc., a high resolution heli-borne aeromagnetic and radiometric survey over “Grizzly West”, a priority target area within the northwest portion of its 175 sq. km Grizzly Property (100% owned, see updated maps at www.GaribaldiResources.com). Results are expected shortly and will guide the next phase of exploration in the weeks ahead. Recent fieldwork at Grizzly West has outlined several areas of exposed porphyry copper mineralization and sizeable, open-ended copper-in-soil anomalies.

Steve Regoci, president and CEO of Garibaldi, commented:

We’ve built a solid foundation for the company in Mexico, resulting in a healthy working capital position and a pipeline of advanced opportunities. Our strategy in Mexico involves exploring large land packages and efficiently narrowing down the most prospective areas. In B.C., we’re utilizing that experience in taking the Grizzly to the next level. The strength of our new neighbour (Prosper Gold) in the Sheslay River Valley will complement our exploration efforts at Grizzly. We are well-positioned to seize immediate opportunities in both Mexico and B.C.

Click here to read the full Garibaldi Resources Corp. (TSXV:GGI) press release.