Mr. Scott Lendrum reports

GIGA METALS COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

Giga Metals Corp. has closed the first tranche of its non-brokered private placement financing announced on July 17, 2025.

The offering consists of both flow-through units and hard-dollar units. In the first tranche of the offering, the company closed on 3,449,039 FT units at a price of nine cents per FT unit for gross proceeds of $310,414 and 1.95 million HD units at a price of eight cents per HD unit for gross proceeds of $156,000. Each FT unit consists of one flow-through common share of the company and one common share purchase warrant. Each HD unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable at 11 cents for three years, expiring July 30, 2028. The securities issued have a hold period expiring four months plus one day after issuance, being Dec. 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 flow-through mining expenditures as such terms are defined in the tax act.

Finders' fees were paid on 4,021,262 units for a total of $24,738 in cash plus a total of 281,488 finder warrants. Each finder warrant is exercisable into one common share of the company at a price of eight cents 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 Aug. 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.

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 jointly by Giga Metals and by Mitsubishi Corp. The prefeasibility study on Turnagain was released in October, 2023.

We seek Safe Harbor.