Giga Metals Announces Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, July 17, 2025 (GLOBE NEWSWIRE) -- Giga Metals Corp. ("Giga Metals" or the "Company") (TSX-V: GIGA; OTCQB: GIGGF; FSE: BRR2) is pleased to announce a non-brokered private placement (the "Private Placement") of a combination of: (i) flow-through units of the Company (each, a "FT Unit") at a price of $0.09 per FT Unit; and (ii) non-flow-through units (each, an "NFT Unit") at a price of $0.08 per NFT Unit, for aggregate gross proceeds of up to $ 850,000.

Each FT Unit will consist of one flow-through common share in the capital of the Company (each, a "FT Share") and one common share purchase warrant (each, a "FT Warrant") that will each qualify as a flowthrough share within the meaning of subsection 66(15) of the Income Tax Act. Each NFT Unit will consist of one non-flow-through common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, an "NFT Warrant").

Each FT Warrant and each NFT Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.11 for a period of 3 years following the closing of the Private Placement.

The Company intends to use the gross proceeds of the Private Placement for exploration of the Company’s Turnagain nickel-cobalt project and for working capital and general corporate purposes. The flow-through proceeds of the Private Placement will be used to advance the Turnagain project and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units to incur eligible "Canadian exploration expenses" that will qualify as "flowthrough mining expenditures" as such terms are defined in the "Tax Act."

The closing of the Private Placement is subject to certain closing conditions, including the approval of the TSX Venture Exchange (the "TSXV"). The Company may pay finder’s fees in cash or securities to certain arm’s length finders engaged in connection with the Private Placement, subject to the approval of the TSXV. The securities issued in the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press 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 State in which such offer, solicitation or sale would be unlawful.

About Giga Metals Corporation
Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned jointly by Giga Metals Corporation and Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023.

Forward-looking Statements
Certain statements in this news release are forward-looking statements, which reflect the expectations of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include, but are not limited to, completion of the Private Placement and any additional funding for the Turnagain Project. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: the conditions to closing of the Private Placement may be not be satisfied; the Company may not be able to locate suitable investors for the Private Placement and the terms for any additional funding of the Turnagain Project may not be finalized. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.  

On behalf of the Board of Directors of Giga Metals Corporation

"Scott Lendrum"

SCOTT LENDRUM,
CEO and Director

Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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