Garibaldi's Exploration Strategy Pays Off-Significant "Gold in Soil" Anomaly Discovered Over Hyperspectral Target

VANCOUVER, BRITISH COLUMBIA, Oct 29 (MARKET WIRE) --
Further to its news release dated March 03, 2009, Garibaldi Resources
Corp. (the "Company") (TSX VENTURE: GGI) is pleased to announce that wide
spaced soil sampling on the Company's 100% owned Tonichi Project in
Sonora, Mexico has identified a significant "gold in soil" anomaly over
one of its high priority hyperspectral target areas. The soil geochemical
survey outlined strongly anomalous Au values (112 samples returned gold
values in excess of 0.1 g/t gold) over a strike length of 1150 meters and
widths of 150 to 800 meters. Seven samples from the western part of the
survey area returned values in excess of 1.0 g/t Au and the anomaly is
open for expansion to the west, north and east (see attached graphic with
grid soil sample assays overlain on google earth).

The "gold in soil" anomaly, referred to as the Locust target, was one of
the initial priority areas identified by the Company's fixed wing
hyperspectral survey flown in 2008. The hyperspectral technology is a
proven low cost reconnaissance exploration tool designed to effectively
map the alteration minerals associated with epithermal and porphyry type
deposits occurring throughout the Sierra Madre. Although exploration is
still at an early stage, available data suggests that the Locust target
may represent a previously unrecognized (completely untested) epithermal
system similar to Alamos Gold's Mulatos deposit and Minefinder's Dolores
deposit.

Management believes that the discovery of the Locust target represents a
milestone in the Company's development. The discovery of this high
priority target clearly proves that the Company's project generative
exploration strategy, utilizing sophisticated remote sensing technology
combined with conventional "boots on the ground" exploration, is a highly
effective low cost approach to evaluating large tracts of prospective
ground targeting epithermal and porphyry systems. As previously announced
the 2008 hyperspectral survey identified multiple high priority target
areas throughout the companies extensive land holdings in Mexico.

The Company expects to complete an aggressive trenching and mapping
program on the Locust target area during the next few weeks to develop
its plans for drilling. At the same time, the Company will continue with
the ongoing assessment of multiple targets identified by the
hyperspectral survey. Results will be released as they become available.

Carl von Einsiedel, P.Eng., a Qualified Person under the meaning of
National Instrument 43-101, is a non-independent geological consultant
for Garibaldi and is responsible for the technical content of this news
release. Soil samples were collected by conventional soil sampling
methods in numbered Kraft paper sample bags. All samples were shipped to
the ALS Chemex preparation laboratory in Hermossilo, Mexico, where they
were sieved through an 80 micron screen) and pulp split separated for
assay by a riffle splitter. These pulps were shipped to the ALS Chemex
laboratory in North Vancouver, Canada, where a 30-gram split of each was
assayed for gold by standard fire assay and a 10-gram split was analyzed
for an additional 30 elements by ICP spectrometry.

To view the map associated with this press release, please click on the
following link: http://media3.marketwire.com/docs/gar1028.pdf

GARIBALDI RESOURCES CORP.

Steve Regoci, President

The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of the
content of this News Release.

Contacts:
Garibaldi Resources Corp.
Drew Farion
Investor Relations
Cell: (604) 961-7555 or Office: (604) 488-8851
www.garibaldiresources.com

Copyright 2009, Market Wire, All rights reserved.

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