Garibaldi Closes Second Tranche of Flow Through Financing

GARIBALDI RESOURCES CORP.

1150 - 409 Granville Street

Vancouver, BC V6C 1T2

Telephone: (604) 488-8851 Website: GaribaldiResources.com

December 23, 2022 TSXV: GGI

OTC: GGIFF

Frankfurt: RQM

GARIBALDI CLOSES SECOND TRANCHE OF FLOW THROUGH FINANCING

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, December 23, 2022 - Garibaldi Resources (TSXV: GGI) (the “ Company” or

“Garibaldi”) announces that the Company has closed a se cond tranche of its flow-through private

placement offering (the “Financing”) announced on November 29, 2022. The Company sold an aggregate

of 400,667 flow-through units (each, a “ Unit”) at $0.30 per Unit for aggregate proceeds of $120,200. Each

Unit was comprised of one flow-through common share and one-half of one common share purchase

warrant. Each whole warrant is exercisable at $0.45 per common share for a period of three years.

The total proceeds of $2,771,200 from the first and se cond tranche flow-through Financings will be used

to explore Garibaldi's base metal prospects unde r the new Federal Governme nt (CMETC) initiative

announced in the most recent federal budget. Follow- up drilling will test for mineralization associated

with broad ZTEM Lowresistivity anomalies identified by the property wide Geotech ZTEM survey.

The Company paid cash finder's fees of $2,412 and issued 8,040 share purchase warrants (the " Finder's

Warrants") to one finder in connection with certain subs criptions in the Financing. The Finder's Warrants

are exercisable at $0.45 per common share for a period of three years.

All securities issued in connection with the Financing are subject to a statutory hold period expiring April

24, 2023.

None of the securities sold in connection with the Offering will be registered under the United States

Securities Act of 1933, as amended, and no such securi ties may be offered or sold in the United States

absent registration or an applicable exemption from the registration requirements. This news release shall

not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the

securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-bas ed 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 British Columbia and Mexico.

GARIBALDI RESOURCES CORP.

Per: "Steve Regoci"

Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Servic es Provider accepts responsibility for the adequacy or the

accuracy of this release