The stirring movie, which chronicles the 1969 Piazza Fontana bombing, picked up Best Film, Best Director and Best Producer nods, while leading man Valerio Mastandrea was nominated among the Best Actor hopefuls.
The film was released in Italy on 30 March (12) to huge national acclaim.
Close behind Giordana's film among the nominees announced on Thursday (12Apr12), were Nanni Moretti's comedy Habemus Papam (15 nods) and Paolo Sorrentino’s This Must Be the Place (14 nods), which features Sean Penn as a fallen rock star.
Also up for Best Film: Cesare deve moriere and Terraferma, while Mastandrea will fight it out with Frenchman Michel Piccoli (Habemus Papam), Elio Germano (Magnifica presenza), Fabrizio Bentivoglio (Scialla!) and Marco Giallini (Posti in piedi in paradiso) for the Best Actor award.
The Best Actress nominees are: Donatella Finocchiaro (Terraferma), Micaela Ramazzoti (Posti in piedi in paradiso), Claudia Gerini (Il mio domani), Valeria Golino (La kryptonite nella borsa) and Chinese actress Zhao Tao (Io sono Li).
Roman Polanski’s Carnage, Melancholia, Le Havre, Oscar winner The Artist and Intouchables are all up for the Best European Union film trophy, while Nicolas Winding Refn’s Drive, Martin Scorsese’s Hugo, Ides of March, The Tree of Life and Asghar Farhadi’s Best Foreign Film Oscar winner A Separation will compete for the Best Foreign Film prize.
The awards will be announced on 4 May (12).
Bardem shared the Best Actor prize with Elio Germano at the prestigious European competition for his role as a terminally-ill criminal in Biutiful.
And the Oscar-winner finally showed his affection for Cruz while collecting the award - telling the audience of his love for the Spanish beauty.
He told the crowd, "I share this joy with my friend, my companion, my love: Penelope: I owe you a lot and I love you so much."
Bardem then blew a kiss to Cruz, who was visibly moved by the speech - and was seen wiping a tear from her eye.
The pair has been dating since 2007, but have repeatedly refused to talk about their relationship - continually dismissing reports they are engaged.
Cruz recently insisted she will never reveal all about her romances, saying, "One thing I don't do, I don't lie about my personal life. It's sacred to me. It's my life. But I don't give details about it because I am allergic to that."
Spaniard Bardem shared the Best Actor Prize with Elio Germano, while The English Patient star Binoche was named Best Actress for Certified Copy.
The Cannes Film Festival's competition jury president Tim Burton handed the coveted Palme d’Or honour to acclaimed Thai movie Uncle Boonmee Who Can Recall His Past Lives. The runner-up Grand Prix prize went to Of Gods and Men.
French actor/director Mathieu Amalric claimed the two-week festival's Best Director award for Tournee, while the event's Best Screenplay prize went to Lee Chang-dong for Poetry.
Other big winners during the closing ceremony's prizegiving included Ano Bisiesto (Camera d’Or), A Screaming Man (Prix du Jury), Ha Ha Ha (Prize of Un Certain Regard) and Octubre (Un Certain Regard Jury Prize).