Mr. Mark Jarvis reports

GIGA METALS COMPLETES ADDITIONAL TRANCHE OF PRIVATE PLACEMENT AND PROVIDES ADDITIONAL INFORMATION ON FIRST TRANCHE

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.

Pursuant to the first tranche of the private placement, which completed on April 4, 2025, Giga issued 4.32 million units for gross proceeds of $432,000. In connection with the first tranche, Giga paid certain arm's-length parties $14,920 as finder and brokerage fees, and issued 141,200 finders' warrants. Each finder's warrant entitles the holder to acquire one common share at an exercise price of 15 cents for one year from the date of issuance.

All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day from the date of issuance. Proceeds of the private placement will be used for general corporate purposes.

Mark Jarvis, chief executive officer of Giga, purchased 250,000 units in the first tranche of the private placement. The participation of Mr. Jarvis in the private placement constitutes a related-party transaction pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of securities issued to Mr. Jarvis, nor the consideration paid by Mr. Jarvis exceeded 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the transaction 21 days in advance of closing of the first tranche of private placement because Mr. Jarvis's participation had not been confirmed. The shorter period was necessary to permit the company to close the first tranche private placement in a time frame consistent with the usual market practice for transactions of this nature.

About Giga Metals Corp.

Giga Metals' 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 85 per cent by Giga Metals and 15 per cent by Mitsubishi Corp. The prefeasibility study was released in October, 2023.

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