Giga Metals Corporation

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Giga Metals’ core asset is the Turnagain Project, located in Northern British Columbia, which contains one of the few significant undeveloped sulphide nickel (Ni) and cobalt (Co) resources in the world.

Giga Metals and Mitsubishi Corporation (MC) Turnagain Project Joint Venture

• Hard Creek Nickel Corp. is the JV company
• MC owns 15% interest, Giga maintains 85% ownership
• Giga and MC will jointly advance the Turnagain project as one of the lowest carbon and most environmentally friendly nickel projects globally
• Pre-Feasibility Study completed in October 2023

Major Global Demand Growth for Nickel in Batteries

• 770,000 t/y of increased nickel demand forecast for battery applications by 2030.
• 22 large new nickel projects need to be built in next six years to meet this demand (large = 35,000 t/y Ni = Turnagain)

CORE PROJECT

Turnagain Nickel-Cobalt Project, British Columbia, Canada

Project Highlights

• Turnagain is located in Canada, which features world-class Environmental, Social and Governance (ESG) systems.
• Located in a stable jurisdiction with access to a deep-water port on the Pacific for shipping to Asia and nearby rail connections to the United States and central Canada.
• Turnagain is located in joint Tahltan and Kaska Dena Territory. Both nations are generally supportive of responsible mining development.
• Turnagain is among the largest undeveloped sulphide nickel deposits in the world in terms of total contained nickel.
• 2023 Pre-Feasibility Study (PFS) Highlights
• Typical annual output: 37,288 t/y Ni + Co
• Life of Mine (LOM): 30 years
• High Grade Concentrate: 18% Ni, 1.1% Co
• Positive Economics: Pre-tax IRR and NPV of 11.1% and $717M (7% discount rate) and post-tax IRR and NPV of 11.4% and $574M at a long-term nickel price of $9.75/lb, with 78% payability for nickel in concentrate
• Initial Capital Cost: US $1.9B
• Site operating cost (Y3-28 average): US$3.85/lb Ni
• C1 cost (Y3-28 average): US$4.65/lb Ni
• Technical Highlights
• Simple Flowsheet: Crush – grind – froth flotation
• Low technical risk with froth flotation
• Large Open Pit Mine: Very low strip ratio (0.4:1 LOM)
• Successful Geomet Program: High-precision recovery algorithm fits all ore types
• Low Carbon Operation: <1.8 CO2/t Ni in concentrate, pathway to carbon-neutrality
• Multiple Product Paths: Smelters or Pressure Oxidation (POX) Circuit to produce Class 1 nickel
• Tailings Sequester CO2: Centre-line facility, mineral carbonation
• Mineral Reserve and Resource (Turnagain Pre-Feasibility Study, October 2023)

• Ultramafic Intrusive Exploration Targets
• The Turnagain deposit is open to expansion
• Other than the Horsetrail Zone, the Turnagain Intrusive remains underexplored
• High Grade Clean Concentrate
• Desirable nickel sulphide concentrate product
• Multiple testwork campaigns: 15 to 21% Ni
• Low impurities such as arsenic, mercury, cadmium
• Suitable for PFS Base Case – smelting
• Suitable for direct pressure oxidation to produce refined nickel end products such as battery chemicals
• Sherritt, BHP, Vale have built direct refining operations
• Project has flexible options for concentrate sale/treatment

Comparison with Indonesian Laterite Projects

Management

Management and Directors

Lyle Davis, P.Eng. (Alberta), MBA, Chairman of the Board

Mr. Davis is an independent director of the Company. Mr. Davis has extensive experience in the corporate finance, advisory, and management services of public companies. He is President and director of Condor Resources Inc.

Mark Jarvis, CEO and Director

Mr. Jarvis has more than 30 years of experience in exploration and development of mineral resources, both in oil & gas and metals. After a career financing exploration projects as a stockbroker, he moved to the corporate side of the business in 1996. He joined the board of Ultra Petroleum as Director and was responsible for Corporate Finance and at the time when Ultra had a large unconventional gas prospect that ultimately became 3 TCF of proved reserves.

Martin Vydra, President and Director

Mr. Vydra is a former executive with Sherritt International. Mr. Vydra is widely recognized as an expert in nickel and cobalt extraction, processing and refining including the development and application of advanced technologies to maximize the recovery of valuable metals such as nickel and cobalt from a variety of feeds. While at Sherritt, his technical accomplishments spanned four continents and over 20 operations.

Robert Morris, Director

Mr. Morris served as Executive Vice President with global accountability for sales and marketing of Vale S.A.’s base metals portfolio.

Lyle Trytten, Manager of Development

Mr. Trytten has more than 25 years’ experience in the nickel industry, and was previously General Manager, Sustainability with Sherritt International Corporation at their Alberta nickel refinery.

Greg Ross, P.Geo., QP, Project Manager

Mr. Ross has over 15 years of experience in the mineral exploration and resource development industries. He has served in Project and Senior Geologist roles for junior mining companies operating in Western Canada.

Holly Millar, B.A., Director of Corporate Communications & Marketing

Ms. Millar has more than 11 years of experience in communications and marketing. She has experience working in a wide variety of industries in both Vancouver and Berlin.

Allie Shapiro, Manager of Corporate Communications

Mrs. Shapiro has worked in general management, project management, and communications for over eight years in Montreal, New York City, and Vancouver.

James Edward Beswick, P.Eng., Fcim, Director of Government Relations

Mr. Beswick has over 30 years of experience in mine safety, environment, permitting and community relations. He was Director of Environment and Permitting for Hillsborough Resources Limited.

David Tupper, P.Geo., QP, Manager of Exploration

Mr. Tupper has over 32 years of mineral exploration experience. He has experience exploring for uranium, gold, base metals and coal in a wide variety of geological settings in North, Central and South America, as well as Asia.

Matt Anderson, CPA, CA, B.Comm., Chief Financial Officer

Mr. Anderson has been providing accounting and CFO services to junior public companies primarily involved in the natural resource sector. He has extensive experience in financial and accounting related functions.

Leslie Young, Corporate Secretary

Ms. Young’s 25-year background in the junior capital markets started with CM Oliver & Company where she served as Executive Secretary. Ms. Young was Corporate Secretary and Office Administrator for Giga Metals’ predecessor company.

News Update

On April 15, 2025, Giga Metals Corp. completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $457,000

Offering: 4.57 million listed shares with 4.57 million warrants attached

Offering price: 10 cents per listed share

Warrant exercise terms: 15 cents per listed share for a three-year period

On April 14, 2025, Giga Metals Corp. has completed an additional and final tranche of its previously announced non-brokered private placement. The private placement consists of units issued at a price of 10 cents per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of 15 cents for three years following the date of issuance. Pursuant to the second tranche of the private placement, which completed today, Giga issued 250,000 units for gross proceeds of $25,000.

On April 04, 2025, Giga Metals Corp. has completed the non-brokered private placement previously announced on March 25, 2025.

The company closed 4.32 million units at 10 cents per unit for gross proceeds of $432,000. Each unit consists of one share and one share purchase warrant. Each full warrant is exercisable at 15 cents for three years, expiring April 4, 2028. The securities issued have a hold period expiring four months plus one day after issuance, being Aug. 5, 2025.

Insiders participated as to 250,000 units.

No control blocks were created as a result of the private placement.

Proceeds of the private placement will be used for general corporate purposes.

On March 19, 2025, Giga Metals Corp. intends to complete a non-brokered private placement of up to five million units at a price of 10 cents per unit to raise gross proceeds of up to $500,000.

The company plans to use the net proceeds of the private placement for general corporate purposes and working capital. Finders' fees and finders' warrants may be issued on a portion of the private placement. Completion of the private placement is subject to certain conditions, including the receipt of the approval of the TSX Venture Exchange.

On February 25, 2025, Giga Metals Corp. Announced that the company will exhibit at booth #2824 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. Stop by our booth to meet management, ask questions and learn more about the Turnagain nickel/cobalt project.

On February 10, 2025, Canadian Investment Regulatory Organization Trading Halt - GIGA.WT.A.

CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

On February 03, 2025, Effective at the opening on Feb. 10, 2025, the company's share purchase warrants will trade for cash same-day settlement. The warrants will expire on Feb. 10, 2025, and will therefore be halted at 12 p.m. ET and delisted at the close of business on Feb. 10, 2025.

On December 02, 2024, Giga Metals Corp. has received a report and exploration recommendations by Dr. Stephen Beresford regarding the potential for high-grade mineral targets within the Turnagain ultramafic complex.

"We wanted to get fresh eyes on our data," said Mark Jarvis, chief executive officer of Giga Metals. "We have 383 drill holes totalling 97,361 metres, several geochem surveys and geophysical surveys, and other data, but more than 80 per cent of the Turnagain complex remains unexplored or underexplored. I am excited about the opportunity to work with Dr. Beresford, who is in the top tier of nickel exploration geologists worldwide."

"My mandate was to evaluate the prospectivity of potential high-grade targets within the mineralized system and to recommend an exploration program that would focus on these targets," said Dr. Beresford. "My conclusion is that there are several target types in play. One important target is a potential Volkovsky-type massive copper sulphide magnetite deposit in the Attic zone. Another target is semi-massive sulphide breccia pipes within the Attic and Bench zones, similar to Giant Mascot and Aguablanca. These and other target types should be evaluated with a gravity survey, ground-based [electromagnetics] and drilling."

Historical magnetic survey data are being reprocessed to better define the geometry of the intrusive and to help design a gravity survey.

On November 29, 2024, Further to the press release dated Nov. 7, 2024, which announced the engagement of MarketSmart for IR (investor relations) services, Giga Metals Corp. is providing more information about MarketSmart.

MarketSmart is at arms length to Giga Metals. At Nov. 7, MarketSmart owned no securities in the company. As of today's date, MarketSmart has accumulated 125,000 shares of Giga Metals in the secondary market. Giga is paying for MarketSmart's IR services out of general working capital.

On November 14, 2024,Pursuant to Giga Metals Corp.'s stock option plan, approved by the TSX Venture Exchange, the company will be granting one million stock options to certain directors, employees and consultants, exercisable at 20 cents per share, expiring Nov. 14, 2029. Twenty-five per cent of the options will vest immediately, with an additional 25 per cent vesting on each anniversary after issuance. One hundred per cent of the options will vest in the event of a change of control of the company.

On November 07, 2024, Giga Metals Corp. has entered into an agreement with MarketSmart Communications Inc., pursuant to which MarketSmart will provide investor relations (IR) services to Giga Metals for an initial term of six months, commencing as of today, Nov. 7, 2024.

Giga will pay MarketSmart a fee of $7,500 per month, plus applicable taxes, and MarketSmart will also be granted stock options to purchase 300,000 common shares of Giga Metals at a price of 20 cents per share for a term of 24 months. The options will vest quarterly over 12 months, in accordance with Giga's stock option plan and as required by the policies of the TSX Venture Exchange.

The investor relations agreement and grant of stock options are subject to the approval of the TSX Venture Exchange.

September 20, 2024, Giga Metals to Present at Noble Capital Markets’ Basic Industries Emerging Growth Virtual Equity Conference September 25th 2024

https://gigametals.com/news/giga-metals-completes-non-brokered-private-placement-2025/

August 21, 2024, Giga Metals Completes $175,000 Non-Brokered Private Placement

https://gigametals.com/news/giga-metals-completes-non-brokered-private-placement-2024/

August 15, 2024, Giga Metals – Voting Results

https://gigametals.com/news/giga-metals-voting-results-2024-08-15/

August 7, 2024, Giga Metals Completes $977,500 First Tranche of Non-Brokered Private Placement

https://gigametals.com/news/giga-metals-completes-first-tranche-of-non-brokered-private-placement/

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