Giga Metals Announces Private Placement Amendment

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

VANCOUVER, British Columbia, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Giga Metals Corp. (“Giga Metals” or the “Company”) (TSX-V: GIGA; OTCQB: GIGGF; FSE: BRR2) announces that, further to its news release dated October 15, 2025, the Company has amended the terms of its previously announced non-brokered private placement financing (the "Offering"). 

Each Critical Minerals FT Unit will now include one flow-through share (“FT Share”) that qualifies as a Critical Minerals flow-through share under the Income Tax Act (Canada), along with one non transferable flow-through share purchase warrant of the Company ("FT Warrant"). As previously disclosed, each FT Warrant will enable the holder to acquire an additional Share at a price of $0.25 per Share for a period of 36 months from the date of issuance.

Each NFT Unit will now include one non-flow-through share (“NFT Share”), along with one non transferable non-flow-through share purchase warrant of the Company (“NFT Warrant”). As previously disclosed, each NFT Warrant will enable the holder to acquire an additional Share at a price of $0.25 per Share for a period of 36 months from the date of issuance.

All other terms related to the private placement remain the same.

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 jointly by Giga Metals Corporation and Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023.

The Turnagain ultramafic complex is also prospective for copper, platinum and palladium mineralization in the Attic Zone, an area adjacent to the known nickel resource. 

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, completion of the Private Placement and any additional funding for the Turnagain Project. 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: the conditions to closing of the Private Placement may be not be satisfied; the Company may not be able to locate suitable investors for the Private Placement and the terms for any additional funding of the Turnagain Project may not be finalized. 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 projected in the forward-looking statements.  

On behalf of the Board of Directors of Giga Metals Corporation

“Scott Lendrum”

SCOTT LENDRUM,
CEO and Director

Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
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.

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