Mr. Danny Keating reports

GIYANI APPOINTS WOOD PLC AS LEAD CONSULTANT FOR 2025 DEFINITIVE FEASIBILITY STUDY

Giyani Metals Corp. has appointed Wood PLC as the lead consultant on the company's definitive feasibility study (DFS).

Highlights:

• Wood, the internationally recognized consulting and engineering company, has been appointed as lead consultant for the DFS on Giyani's K.Hill project.
• Wood is a leading hydrometallurgical group with specific expertise in battery-grade metal projects, cutting-edge decarbonization solutions and substantial in-country Botswana execution experience.
• Construction work is progressing on the demonstration plant with battery-grade manganese (HPMSM) product expected in Q4 2024 for offtaker testing and qualification. Technical and cost data from the operation of the demo plant will be utilized for the DFS.
• In addition to data from the demo plant, the DFS will utilize Giyani's existing proprietary process, which has been developed from extensive hydrometallurgical test work undertaken over the past five years.

Danny Keating, president and chief executive officer of the company, commented: "After an extensive shortlisting process, we are delighted to have partnered with a group with world-class hydrometallurgical engineering expertise. Whilst completing a high-quality DFS is an important consideration, it is important to Giyani's board and management that Wood also share our mission to reduce carbon emissions within their engineering solutions and that they have the ability to seamlessly transition from the DFS into commercial plant construction once we have secured project financing."

Lead DFS consultant appointed

Giyani has selected Wood as its lead DFS consultant following a rigorous selection process. Four bids were submitted by international engineering firms before Wood was ultimately selected after careful consideration of their technical and engineering capability, manganese experience, team and execution strategy.

Completion of the DFS is anticipated to take approximately 15 months and will run concurrently with the company's other activities of operating the demo plant, securing licences and permits, and completing offtake agreements and the project financing.

Phase 1 -- technical review and scope definition

Phase 1 includes an initial technical review of historical work, a gap analysis and an in-depth review of the 2023 preliminary economic assessment (PEA), the 2022 feasibility study (FS), and all test work and flow sheet development conducted by the company over the past five years. Phase 1 will focus on flow sheet and nameplate capacity optimization, a number of techno-economic trade-off studies and value engineering.

Phase 2 -- definitive feasibility study

Phase 2 includes analysis of all internal and external infrastructure required to process the ore to produce HPMSM and all hydrometallurgical, geotechnical and hydrogeological data required for the DFS.

As part of this process, a National Instrument 43-101, Standards of Disclosure for Mineral Projects, compliant DFS will be produced and filed on SEDAR+ in accordance with the requirements of NI 43-101.

About Giyani Metals Corp.

Giyani is focused on becoming the dominant Western-world producer of sustainable, low-carbon, high-purity, battery-grade manganese for the electric vehicle (EV) industry. The company has developed a proprietary hydrometallurgical process to produce HPMSM, a lithium-ion battery (LIB) cathode precursor material critical for EVs.

The company secured $26-million (U.S.) in financing in Q1 from two strategic partners (Arch Sustainable Resources Fund LP and the Industrial Development Corp. of South Africa) as it aims to progress the K.Hill battery-grade manganese project in Botswana to construction by building and operating the demonstration plant and completing a definitive feasibility study by the first half of 2025.

We seek Safe Harbor.