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:
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"Steve Regoci"
Steve Regoci, President
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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.