GARIBALDI GRANTS OPTION ON KING PROPERTY

About this update from Garibaldi Resources Corp.

[{"type":"text","content":"\n\n\n\n Dec. 22, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSXV: GGI\nFrankfurt: RQM\n\n\nVANCOUVER, Dec. 22 /CNW/ - Garibaldi Resources Corp. (TSX.V: GGI)\n ("Garibaldi") is pleased to announce that it has entered into an option\n agreement with Global Tree Technologies Inc. ("Global" - TSXV-NEX: GTT)\n whereby Global can earn, in two stages, up to a 70% interest in two\n mineral claim blocks comprising 1,720 hectares located in the Iskut\n River District of northwest British Columbia (the "King Property"). In\n order to exercise its initial option to acquire a 50% interest in the\n King Property, Global must complete $500,000 worth of exploration\n expenditures on the King Property by December 31, 2013, and make\n payments totaling $90,000 to the original property vendor to Garibaldi.\n If this first option is exercised, Global will have a second option to\n increase its interest to 70% by spending an aggregate $1,500,000 on the\n King Property by December 31, 2014 and issuing 3,000,000 common shares\n to Garibaldi. The work to be completed and payments to be made by\n Global will satisfy the obligations of Garibaldi to the underlying\n vendor from whom Garibaldi had optioned the Property.\n\n\nAbout Garibaldi Resources\n\n\nGaribaldi Resources Corp. is a Canadian junior mining company focused on\n the exploration for gold, silver and base metal deposits along the\n central and northern parts of the highly prolific Sierra Madre mining\n be...

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