Warrants not extended

December 31, 2020 TSX.V - GIGA

Warrants not extended

(VANCOUVER) – Giga Metals Corporation (TSX.V - GIGA) today announced that ,

further to the press release dated December 21, 2020, the TSX Venture Exchange did not

approve the extension of 240,000 warrants with a strike price of $0.70, 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

The Company also announced that, pursuant to its Stock Option Plan, approved by the TSX

Venture Exchange, the Company will be granting 5,625,000 stock options to certain

Directors, Employees and Consultants, exercisable at $0.52 per share, expiring December

30, 2025. 25% of the options will vest immediately, with an additional 25% ve sting on

each anniversary after issuance. 100% on the options will vest in the event of a change of

control of the Company.

On behalf of the Board of Directors,

“Mark Jarvis”

MARK JARVIS, CEO

GIGA METALS CORPORATION

Tel – 604 681 2300

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.

Suite 203 – 700 West Pender St., Vancouver, BC, Canada V6C 1G8

T: 604-681-2300 E: [email protected] W: www.gigametals.com