VANCOUVER, Sept. 14, 2018 /CNW/ - Garibaldi Resources (TSXV: GGI; OTC: GGIFF) is pleased to announce that with three drill rigs currently building out the Nickel Mountain magmatic nickel-copper-rich sulphide discovery in the heart of Northwest B.C.'s Eskay Camp, Company directors have approved an accelerated buyout for a 100% interest in 766 strategic hectares subject to a 2% NSR royalty (refer to June 15, 2016, news release). No NSR royalty is applicable to the balance of the Nickel Mountain Project (an additional 5,534 hectares) covering a multi-kilometer-long prospective nickel sulphide trend and owned 100% by Garibaldi.
Garibaldi has issued a notice to the underlying vendor of the 766 hectares ("E&L" claims) that it will immediately exercise its option for a 100% interest by paying a balance of $60,000 CDN and issuing 550,000 shares of the Company's common stock.
Meanwhile, Garibaldi eagerly anticipates providing shareholders with an exploration update including initial assay results from the ongoing 2018 program during the week of September 17.
Eskay Camp Area Map
To view the location of the E&L Nickel Mountain Project, Garibaldi's other large landholdings in the Eskay Camp, and properties of all other companies in this prolific district, please visit GGI's web site or the following URL:
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 in Mexico and British Columbia.
GARIBALDI RESOURCES CORP
Per: "Steve Regoci"
President & CEO
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.
For further information: GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com