Mr. Mark Jarvis reports

GIGA METALS WARRANTS NOT EXTENDED

Further to Giga Metals Corp.'s press release dated Dec. 21, 2020, the TSX Venture Exchange did not approve the extension of 240,000 warrants with a strike price of 70 cents, as requested by the company. The reason for denying the extension is that, under Policy 4.1, Section 3.1(c), there is a requirement that "no warrants of the class have been exercised within the last six months." The warrants in question did not meet this condition.

Options granted

Pursuant to its stock option plan, approved by the TSX-V, the company will be granting 5,625,000 stock options to certain directors, employees and consultants, exercisable at 52 cents per share, expiring Dec. 30, 2025. Of the options, 25 per cent will vest immediately, with an additional 25 per cent vesting on each anniversary after issuance. Of the options, 100 per cent will vest in the event of a change of control of the company.