Giga Metals Completes First Tranche of Private Placement

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

VANCOUVER, British Columbia, July 30, 2025 (GLOBE NEWSWIRE) -- Giga Metals Corp. (“Giga” or “the Company”) (TSX-V: GIGA, OTCQB: GIGGF) is pleased to announce the closing of the first tranche of its non-brokered private placement financing announced on July 17, 2025 (the “Offering”).

The Offering consists of both flow-through units (“FT Units”) and hard dollar units (“HD Units”) In the first tranche of the Offering, the Company closed on 3,449,039 FT Units at a price of $0.09 per FT Unit for gross proceeds of $310,414; and 1,950,000 HD Units at a price of $0.08 per HD Unit for gross proceeds of $156,000.

Each FT Unit consists of one flow through common share of the Company (each a “FT Share”) and one common share purchase warrant (each a “FT Warrant”). Each HD Unit consists of one common share of the Company (each a “HD Share” and together with the FT Shares, the “Shares”) and one common share purchase warrant (each a “HD Warrant” and together with the FT Warrants, the “Warrants”). Each warrant is exercisable at $0.11 for three years, expiring July 30, 2028. The securities issued have a hold period expiring 4 months plus one day after issuance, being December 1, 2025. 
  
Proceeds from the flow-through offering 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”.

Finder's fees were paid on 4,021,262 Units for a total of $24,738 in cash plus a total of 281,488 finder's warrants. Each finder's warrant is exercisable into one common share of the Company at a price of $0.08 per common shares for a period of three years from the date of issuance, being July 30, 2025. 

Completion of a second tranche of the private placement is anticipated to occur on or about August 13, 2025 or such other date as the Company may determine, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”).
  
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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 by Mitsubishi Corporation. The Pre-Feasibility Study on Turnagain 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, the use of proceeds of the First Tranche; completion of the Offering 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: management's discretion to reallocate the net proceeds of the First Tranche; the conditions to closing of the Offering may be not be satisfied; the Company may not complete a second tranche; the Company may not be able to locate suitable investors for the Offering 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 

Contact Information 
Office Phone: +1 (604) 681-2300 
Investor Inquiries: [email protected] 
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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