Giga Metals Completes First Tranche of Non-Brokered Private Placement

August 7, 2024 TSX.V - GIGA

Giga Metals Completes First Tranche of

Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

Mark Jarvis, CEO of Giga Metals Corp. (TSX.V – GIGA) (“Giga” or the “ Company”)

announced today that Giga has completed the first tran che (the “First Tranche”) of its

previously announced (July 17, 2024) non- brokered private placement (the “ Private

Placement”) of up to 10,000,000 units (“Units”) at a price of $0.15 per Unit.

Pursuant to the First Tranche, Giga issued 6,516,667 Units for gross proceeds of $977,500.

Each Unit consists of one common share of the Company (a “ Common Share”) and one

Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder

thereof to purchase one Common Share of the Company (a “Warrant Share”) for a period

of three years following issuance at an exercise price of $0.22 per Warrant Share.

In connection with the First Tranche, Giga paid aggregate finders’ fees of $27,300 and

issued an aggregate of 182,000 finders’ warrants (the “Finders’ Warrants ”) to certain

finders. The Finders’ Warrants have the same terms as the Warrants forming part of the

Units but expire one year from the date of issuance. All securities issued pursuant to the

First Tranche are subject to a four-month statutory hold period.

The Company intends to use the net proceeds of the First Tranche for working capital and

general corporate purposes. The First Tranche remains subject to final approval of the TSX

Venture Exchange.

About Giga Metals Corporation

Giga Metals Corporation’s 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

85% by Giga Metals Corporation and 15% by Mitsubishi Corporation. The Pre-Feasibility

Study was released in October 2023.

Forward-looking Statements

Certain statements in this news release are forward-looking statements, which reflect the expectations of the

Company. Forward- looking statements consist of statements that are not purely historical, including any

statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include,

but are not limited to, the use of proceeds of the First Tranche . No assurance can be given that any of the

events anticipated by the forward- looking statements will occur or, if they do occur, what benefits the

Company will obtain from them. These forward- looking statements reflect management's current views and

are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of

risks and uncertainties could cause our actual results to differ materially from those expressed or implied by

the forward-looking statements, including management’s discretion to reallocate the net proceeds of the First

Tranche. These forward -looking statements are made as of the date of this news release and, except as

required by applicable securities laws, the Company assumes no obligation to update these forward-looking

statements, or to update the reasons why actual results differed from those projec ted in the forward-looking

statements.

On behalf of the Board of Directors,

MARK JARVIS

CEO

Contact Information

Office Phone: +1 (604) 681-2300

Investor Inquiries: [email protected]

Company Website: www.gigametals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this release.

#203-700 West Pender Street, Vancouver, BC V6C 1G8

www.gigametals.com

Tel: 604 681 2300