Giyani Announces Filing of Definitive Feasibility Study
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Giyani Announces Filing of Definitive Feasibility Study
TORONTO, Ontario, July 10, 2026 – Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the
"Company"), is pleased to announce the filing of the National Instrument 43-101 Technical Report
supporting the Feasibility Study ("DFS") for its 100%-owned K.Hill Battery-Grade Manganese Project
("K.Hill" or the "Project"), located in the Kanye Basin, Botswana.
Filing of the DFS for K.Hill
Following the initial announcement of the DFS on May 28, 2026, which showed strong economic returns
with a post-tax net present value (“NPV”), at an 8% discount rate, of US$482 million and a post-tax
internal rate of return (“IRR”) of 20.3%, the full DFS technical report, prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has been filed under the
Company’s profile on SEDAR+ at www.sedarplus.ca and is available for download on the Company’s
newly resigned website at https://giyanimetals.com/.
The results of the DFS disclosed in this news release are unchanged from those announced by the
Company on May 28, 2026 and readers should review the full DFS for a complete description of the
assumptions, qualifications, methodologies and risk factors underlying the DFS.
All financial figures are stated in real US$ (constant January 1, 2026, money). NPV is discounted at 8%
real to Project start date of April 1, 2027.
Nigel Robinson, Interim Executive Chair of the Company, commented:
“The successful completion and filing of the DFS marks the completion of an important phase of project
evaluation and positions the Company to advance to the next stages of project development. As
demand for battery materials continues to grow, driven by the global shift toward electrification and
renewable energy, Management believes that manganese may become increasingly important as next-
generation battery chemistries continue to develop. We believe K.Hill is well positioned to contribute
meaningfully to this evolving supply chain.
The DFS confirmed the strong economic potential of the Project, delivering a post-tax NPV of US$482
million and an IRR of 20.3%. These results reinforce our confidence in K.Hill's ability to support the
growing global demand for battery-grade manganese. The Giyani team has identified potential
opportunities to further optimize the Project which, if realized, may further enhance project economics.
We were also pleased to launch our new corporate website, providing stakeholders with improved
access to information about our business, projects, and strategic progress.
As we move forward, our focus remains on advancing K.Hill towards development while maintaining
our commitment to responsible development practices and continuing engagement with local
communities.”
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Qualified Persons
The scientific and technical information in this news release has been reviewed and approved by Mr
Jeffrey Stevens (Pr Eng) of Wood Projects Australia, a Qualified Person as defined under NI 43-101
and is independent of the Company.
About Giyani
Giyani is focused on becoming the preferred western-world producer of sustainable, low-carbon high-
purity battery-grade manganese for the EV and ESS industry. The Company has developed a bespoke
hydrometallurgical process to produce battery-grade manganese products, for cathode precursor
materials, critical for EVs and ESS.
Additional information and corporate documents may be found on www.sedarplus.ca and on Giyani
Metals Corp. website at https://giyanimetals.com/.
On behalf of Giyani Metals Corp.
Nigel Robinson, Interim Executive Chair
Contact:
Giyani Metals Corp.
Eugene Lee, Chief Financial Officer
Tel: +1 289-291-7632
Tavistock, Corporate Communications
Josephine Clerkin / Charles Vivian
Tel: +44 20 7920 3150
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statements Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws,
including statements regarding the DFS, NPV IRR and development of the Project. Forward-looking statements are based
on assumptions including, without limitation, mineral prices, head grades, plant recoveries, capital and operating cost
estimates, exchange rates, the availability of financing, permitting and licence renewal, contractor performance, and the
relocation of community water infrastructure required to access the northern mining envelope. Actual results may differ
materially. Material risks include commodity price volatility, head-grade variability and selective mining performance,
capital and operating cost overruns, geotechnical and hydrogeological conditions, permitting and tenure (including
renewal of ML0434/2024 beyond 2039), and execution risks identified in the DFS. Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources will
be converted to Mineral Reserves. The Company cautions that historical results or current estimates are not necessarily
indicative of future performance.
All statements in this news release, other than statements of historical fact, that address events or developments that
Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans",
"anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast",
"budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date
such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which
are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause
actual results, level of activity, performance or achievements to be materially different from those expressed or implied by
such forward-looking statements. In the case of Giyani, these facts include anticipated operations in future periods,
planned construction and development of its properties and facilities, and plans related to its business and other matters
that may occur in the future. This information relates to analyses and other information that is based on expectations of
future performance and planned work programs.
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Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which
could cause actual events or results to differ from those expressed or implied by the forward-looking information, including,
without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource
properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and
conditions; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks
related to Giyani's business being subject to environmental laws and regulations; risks related to the Company's mineral
properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to
competition from larger companies with greater financial and technical resources; risks relating to the inability to meet
financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks
related to the Company's directors and officers becoming associated with other natural resource companies which may
give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking
information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of the Company's
respective management on the date the statements are made, and Giyani does not assume any obligation to update
forward-looking information if circumstances or management's beliefs, expectations or opinions change, except as
required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-
looking statements, please refer to Giyani's continuous disclosure documents which are filed on SEDAR+ at
www.sedarplus.ca.