Giyani Receives Letter of Interest from EXIM for US$225 million
Page | 1
Giyani Receives Letter of Interest from EXIM for US$225 million
TORONTO, Ontario, June 16, 2025 – Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the
"Company"), developer of the K.Hill Battery -Grade Manganese Project in Botswana ("K.Hill" or “ the
Project”), is pleased to announce that it received a non-binding letter of interest (“LOI”) from the Export-
Import Bank of the United States (“ EXIM”) for up to US$225 million in financing to support the
construction of the Project.
Highlights:
• Following several months of engagement with EXIM, Giyani has received a non -binding LOI
dated 6 June 2025 from US EXIM for up to US$225 million long-term debt with a repayment
period of up to 15 years for construction of the Project.
• The potential funding from EXIM falls under the Supply Chain Resilience Initiative (“SCRI”) the
aim of which is to reduce US dependence on critical mineral supply chains controlled by the
People's Republic of China.
• US EXIM is the official Export Credit Agency (“ECA”) to the US Government.
• A key requirement to unlock the funding from EXIM is to secure offtake contracts with US
companies, which is a fundamental component of Giyani’s strategy.
The LOI from EXIM is not a binding commitment to provide financing; rather, it marks an initial step in
the formal application process. Any potential debt financing remains contingent upon the successful
completion of due diligence, agreement on final terms, and execution of definitive documentation,
namely a Definitive Feasibility Study (“DFS”). Giyani has a DFS underway which is forecast to be
completed in Q1 2026.
Charles FitzRoy, President and CEO of the Company, commented:
“The receipt of the LOI from EXIM marks an important milestone on Giyani’s journey to securing project
financing for the construction of the K.Hill Manganese Project. Giyani has held numerous discussions
with EXIM which have culminated in the issuance of the LOI. Whilst this is the first step in the process
of securing possible funding, this important milestone validates Giyani as a preferred strategic
developer of battery-grade manganese products. We look forward to furthering our relationship with
EXIM and other strategic partners as Giyani continues to diligently work towards its goals and ultimately
maximize value for our stakeholders through the development of this vital critical minerals project.
ECA funding is an important part of financing critical minerals projects, as it offers the potential to secure
lower cost loans than traditional debt, with longer repayment periods. These type of structures can
enable groups like Giyani to maximize value for shareholders by securing more attractive annual
repayments for project financing
About the Supply Chain Resilience Initiative
The SCRI is a strategic program launched in January 2025 by EXIM to enhance US economic security
by reducing dependence on critical mineral supply chains controlled by the People's Republic of China.
SCRI aims to strengthen US manufacturing sectors such as semiconductors, batteries, and electric
vehicles, by ensuring a stable and diversified supply of critical minerals.
More information about the SCRI can be found at the following link.
Page | 2
Strategy Overview
About Giyani
Giyani is focused on becoming a preferred western-world producer of sustainable, low carbon high
purity battery grade manganese for the EV and ESS industry. The Company has developed a
proprietary hydrometallurgical process to produce battery-grade manganese (HPMSM and HPMO), a
lithium-ion battery cathode precursor material 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/.
About EXIM
The Export-Import Bank of the United States (EXIM) is the US Government’s official export credit
agency, created in 1934 to promote American jobs by financing the export of US goods and services.
EXIM offers tools such as export credit insurance, loan guarantees, and direct loans to help US
companies, particularly small and mid-sized businesses, compete in global markets when private sector
financing is unavailable. In 2025, EXIM introduced the SCRI to enhance the security and reliability of
US supply chains by supporting overseas projects that supply critical materials to American
manufacturers.
On behalf of Giyani Metals Corp.
Charles FitzRoy, President and CEO
Contact:
Giyani Metals Corp.
Charles FitzRoy, President & CEO
Sean Thijsse, VP Corporate Development
Tel: +1289-291-7632
Tavistock, Corporate Communications
Tara Vivian-Neal / Josephine Clerkin
Tel: +44 20 7920 3150
Page | 3
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.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
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.
Such statements include without limitation: the ongoing operation of the Demo Plant, the completion of the DFS by Q1
2026 and the results thereof, entering into offtake agreements qualifying for EXIM financing, obtaining EXIM financing
and timing thereof.
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.
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.