Mr. Danny Keating reports

2024 DRILLING PROGRAMME COMMENCES AT THE K.HILL PROJECT

As part of its planned 2025 definitive feasibility study (DFS), Giyani Metals Corp. has commenced an infill drilling program at the K.Hill battery-grade manganese project in Botswana. The information gathered from this program is expected to provide the basis for an updated Mineral Resource Estimate ("MRE") to be included in the DFS.

Highlights:

• Giyani has commenced a 2,500m, 61 drillhole infill drilling program at K.Hill with the aim of defining sufficient Measured Mineral Resources for the initial 5 years of mining operations, which are typically covered by project finance debt facilities.
• The results of the infill program will be integrated with the Demonstration Plant ("Demo Plant") processing and operating output data to optimize the mine schedule and plant feed grades within the DFS.
• The Demo Plant is currently under construction in Johannesburg and is expected to process 100 tonnes of K.Hill feedstock ore to produce battery grade manganese in H2 2024.

Danny Keating , President and CEO of the Company, commented: "As we look to ready the Company for a Final Investment Decision in 2025, we have initiated a number of workstreams to further de-risk the Project for potential financiers.

The drilling program is expected to take a significant portion of the Indicated Mineral Resource into the Measured Mineral Resource category. This will give greater confidence in the mine plan during the likely debt repayment period and also gives us the opportunity to potentially declare a Proven Reserve as part of the upcoming Definitive Feasibility Study.

A de-risked mine plan, a new Definitive Feasibility Study, an operating demonstration plant proving our flowsheet on a continuous basis, and samples with potential customers will enable Giyani to attract the widest range of financiers and off-takers to take this Project into construction and beyond as we aim to position Giyani as the dominant producer of HPMSM globally."

2024 Drilling Programme

Giyani has commenced a 2,500m resource drill program with 61 holes currently planned (see Figure 1 below). A combination of Reverse-Circulation ("RC") and Diamond Drilling ("DD") will be used to optimise recoveries and ensure costs are kept as low as possible. RC for collaring the holes and initial casing is more cost effective than DD, while DD will provide superior sample recovery for analysis and density testwork.

The program builds on the July 2023 MRE, see table below, which was prepared using data from 187 RC and DD holes from all drilling campaigns conducted over the Project since 2018, totalling 10,710m.

The goal of the program is to upgrade and reclassify a portion of the current 8.6Mt Indicated Mineral Resource into Measured Mineral Resources, to ensure the Project has sufficient Measured Mineral Resources for the initial 5 years of mine production that typically cover the project finance debt period.

The addition of this data will increase Giyani's knowledge of its K.Hill deposit, enabling more accurate modelling of the ore grade and the elemental profile of ore going to the plant, in turn allowing more accurate forecasting of its production profile.

Some 100t of mineralized material from K.Hill was shipped to Johannesburg in 2023 and is expected to be processed into HPMSM at the Demo Plant in H2 2024. The same ore from K.Hill will be used as feedstock in the Commercial Plant which is planned to be built in Botswana and start ramping up to full commercial scale production in 2027.

Mineral Resource Estimate

The Mineral Resource Estimate completed by CSA Global in July 2023 is presented for ease of reference.

MRE Notes:

a) The Mineral Resource has been classified and reported under the guidelines defined by the Canadian Institute of Mining, Metallurgy and Petroleum in their document "CIM Definition Standards for Mineral Resources and Mineral Reserves" of May 2014.

b) Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.

c) Mineral Resources are stated as in situ dry tonnes; figures are reported in metric tonnes.

d) Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources.

e) Estimation has been completed within 6 different mineralization domains.

f) Mineral Resources are reported assuming open pit mining methods.

g) The Mineral Resource is reported within a conceptual pit shell determined using a price of US$3,800/t HPMSM (equivalent to US$9,054/t MnO), conceptual parameters and costs to support assumptions relating to reasonable prospects for eventual economic extraction.

h) The Mineral Resource is reported at a cut-off grade of 7.3% MnO.

i) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. CSA Global is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other any other relevant factors affecting the MRE.

j) HPMSM price quoted is based on 2022 market data, which was available at the time of reporting the Mineral Resource. Additional pricing information will be available for input into subsequent technical studies, and this may impact on the Mineral Resource reported.

Qualified Person and Data Verification

Mr. Luhann Theron, MSc., Pr.Sci.Nat. 400184/15, of Lambda Tau is registered with the South African Council for Natural Scientific Professions, membership number 400184/15, and last visited the K.Hill Project site in March 2024 and is a QP, as defined by NI 43-101. Mr. Theron is the Chief Geologist for the Company and has reviewed and approved the scientific and technical content contained in this announcement but is not independent for the purposes of NI 43-101.

About Giyani

Giyani aims to be a sustainable, low carbon producer of battery materials for the electric vehicle ("EV") industry. The Company has developed a hydrometallurgical process to produce battery-grade high purity manganese sulphate monohydrate ("HPMSM"), a lithium-ion battery ("LIB") cathode precursor material critical for EVs, directly from ore supplied by the Company's own manganese oxide ("MnO") deposits.

We seek Safe Harbor.