Garibaldi Resources Corp.

Garibaldi Resources Corp.

November 28, 2006 09:00 ET

Garibaldi Targets Key Areas of Alteration in Mexico's Sierra Madre-Acquires Four Concession Applications Totalling 245,000 Hectares

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Management of Garibaldi Resources Corp. ("Garibaldi" or the "Company") (TSX VENTURE:GGI) is pleased to announce that, through its wholly owned Mexican subsidiary, Minera Pender S.A., the Company has entered into an agreement with 564904 BC Ltd. (the "Vendor"), a private British Columbia company, to acquire a 100% interest in four new non-contiguous concession applications comprising approximately 245,000 hectares in the State of Sonora, Mexico. The concession applications are all located within the Sierra Madre Occidental northwest of the Company's projects in the Morelos, Temoris and Ocampo districts in the State of Chihuahua.

The terms of the acquisition agreement require that the Company re-imburse all of the Vendor's costs related to the concession applications and pay $10,000 and issue 100,000 shares for each of the new concessions. The concessions will each be subject to a 1% NSR which the Company can purchase at any time for $1,000,000.

Recent exploration successes in the State of Chihuahua including Agnico Eagle's Pinos Altos Project, Kimber Resources Monterde Project, Gammon Lake Resources Ocampo Project, Palmarejo Resources Trogan Project and Glamis Gold's highly successful El Sauzal Mine clearly demonstrate the potential of the northern Sierra Madre. The concession applications in the adjoining state of Sonora cover areas of hydrothermal alteration associated with historic placer gold or small scale mining operations localized along the projected northwest extension of this highly prospective mineral belt.

Garibaldi Resources is a next generation exploration company utilizing newly emerging technologies to generate acquisition targets in under explored mining districts. Based on the new acquisitions, Garibaldi's 100% owned Mexican subsidiary now controls approximately 350,000 hectares of ground and is one of the largest land holders in the Sierra Madre.

The acquisition is subject to acceptance for filing by the TSX Venture Exchange.


Steve Regoci, President

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