Core Points - Giga Metals Corp. has successfully closed the first tranche of its non-brokered private placement financing, which was announced on July 17, 2025 [1][2] - The first tranche raised gross proceeds of $310,414 from the sale of 3,449,039 flow-through units at $0.09 each and $156,000 from 1,950,000 hard dollar units at $0.08 each [2] - The proceeds from the flow-through offering will be allocated to advance the Turnagain project and other potential Canadian properties, with a commitment to incur eligible Canadian exploration expenses [4] Financial Details - Each flow-through unit consists of one common share and one purchase warrant, while each hard dollar unit consists of one common share and one purchase warrant [3] - The warrants are exercisable at $0.11 for three years, expiring on July 30, 2028 [3] - Finder's fees for the offering amounted to $24,738 in cash and 281,488 finder's warrants, which are also exercisable into common shares at $0.08 each for three years [5] Future Plans - A second tranche of the private placement is expected to close around August 13, 2025, pending necessary regulatory approvals [6] - The Turnagain Project, which is a significant undeveloped sulphide nickel and cobalt resource, is the core asset of Giga Metals Corporation [8]

Project Overview - The Kalgoorlie Nickel Project (KNP) Goongarrie Hub is the largest nickel-cobalt Mineral Resource Estimate (MRE) in Australia [9] - KNP Goongarrie Hub contains 584Mt at 0.69% Ni and 0.043% Co for 4Mt of contained Ni and 250kt of contained Co [10] - KNP Kalpini Hub contains 270Mt at 0.76% Ni and 0.05% Co for 2Mt of contained Ni and 136kt of contained Co [10] - The project has a forecast operation of +40 years [53] Partnership and Funding - Sumitomo Metal Mining (SMM) and Mitsubishi Corporation (MC) are fully funding the Definitive Feasibility Study (DFS) up to A$98.5M to earn up to 50% interest in Kalgoorlie Nickel Pty Ltd (KNPL) [15] - The Consortium earned its first 17.5% in July 2025 [15] HPAL Technology and Production - Global MHP and MSP production has increased by over 300% since 2020 [26] - HPAL now into 5th generation of technical advances [21] Market Demand - Electric Vehicle (EV) sales reached 9.1 million in H1 2025, a 28% year-to-date growth [35] - Global energy storage grid deployments reached 13.6GWh in January 2025, a 94% year-on-year increase [35] - Global steel consumption is projected to increase by 132Mt, or over 7% [38] Cost Competitiveness - The Pre-Feasibility Study (PFS) indicates a low C1 Opex before Cobalt credit of US$10,197/t Ni (US$4.62/lb) in MHP LOM [60] - Australia's recently approved tax credit provides a 10% refund against processing costs (64% of PFS Opex estimate) for the first decade [65] Financial Metrics (from 2023 PFS) - Pre-tax NPV7 of A$7,625M (IRR 30%) and Post-tax NPV7 of A$4,980M (IRR 23%) [114] - Average Annual EBITDA of A$800M [114]