Giga Metals Corp. announced the results of a Pre-Feasibility Study (PFS) prepared in accordance with National Instrument 43-101 for the Turnagain Nickel-Cobalt Project located in British Columbia, Canada. Turnagain is owned by Hard Creek Nickel Corp, a joint venture owned by Giga Metals (85%) and Mitsubishi Corporation (15%).

All currencies are in USD 1.00 = CAD 1.30 and all production and cost data are typical full operating rate period (Y3 - 28) based on a 30-year project life with an extremely low strip ratio of 0.4 tonnes waste per tonne ore. Positive Economics: Post-tax IRR and NPV of 11.4% and $574 million at a long-term nickel price of $9.75/lb, with 78% payability for nickel in concentrate. High-grade Concentrate: Nickel concentrate averaging 18% Ni and 1.1% Co with low impurities.

Low-carbon Operation: Scope 1+2 carbon intensity of 2 per t Ni in concentrate. Site Operating Costs: $3.85/lb Ni in concentrate before byproduct credits at mine gate. The Pre-Feasibility Study builds on significant metallurgical and engineering studies and confirms the ability of Turnagain to produce high-quality nickel concentrate.

Nickel concentrate is expected to be in greater demand for production of nickel products such as mixed hydroxide precipitate ("MHP"), mixed sulphide precipitate ("MSP"), high nickel content smelter matte or other forms of Class I products. MHP and Class I nickel demand is growing for the electric vehicle (EV) market, particularly materials sourced in a socially and environmentally responsible manner. The PFS has been led and prepared by Tetra Tech Canada Inc. (Tetra Tech), a global consulting and engineering firm with substantial expertise in the mining sector, along with input from industry expert consultants.

Giga Metals' primary driver for this update was to deliver a reliable and comprehensive PFS incorporating all project-related components for discussion with potential strategic partners and communities, targeting improvement opportunities, and serving as a basis for future engineering and environmental studies. All currencies are in USD using an exchange rate of USD 1.00 = CAD 1. 30 and all production and cost data were typical full operating year (average of years 3 - 28) unless otherwise indicated. Giga Metals expects to file the Technical Report for the PFS prepared in accordance with the requirements of National Instrument 43-101 on SEDAR+ within 45 days of this news release, including a description of the updated Mineral Resource Estimate and the Mineral Reserve Estimate.

For readers to fully understand the information in this news release, they should read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the PFS. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.