Giyani Metals Corp. announced that as part of its planned 2025 Definitive Feasibility Study (DFS), Giyani has commenced an infill drilling programme at the Project. The information gathered from this programme is expected to provide the basis for an updated Mineral Resource Estimate (MRE) to be included in the DFS.

Highlights: Giyani has commenced a 2,500m, 61 drillhole infill drilling programme at K.Hill with the aim of defining sufficient Measured Mineral Resources for the initial 5 years of mining operations, which are typically covered by project finance debt facilities. The results of the infill programme will be integrated with the Demonstration Plant (Demo Plant) processing and operating output data to optimize the mine schedule and plant feed grades within the DFS. The Demo Plant is currently under construction in Johannesburg and is expected to process 100 tonnes of K.Hill feedstock ore to produce battery grade manganese in H2 2024.

The drilling programme is expected to take a significant portion of the Indicated Mineral Resource into the Measured Mineral Resource category. This will give greater confidence in the mine plan during the likely debt repayment period and also gives us the opportunity to potentially declare a Proven Reserve as part of the upcoming Definitive Feasibility Study. Giyani has commenced a 2,500m resource drill programme with 61 holes currently planned.

A combination of Reverse-Circulation (RC) and Diamond Drilling (DD) will be used to optimise recoveries and ensure costs are kept as low as possible. RC for collaring the holes and initial casing is more cost effective than DD, while DD will provide superior sample recovery for analysis and density testwork. The programme builds on the July 2023 MRE, see table below, which was prepared using data from 187 RC and DD holes from all drilling campaigns conducted over the Project since 2018, totalling 10,710m.

The goal of the programme is to upgrade and reclassify a portion of the current 8.6Mt Indicated Mineral Resource into Measured Mineral Resources, to ensure the Project has sufficient Measured Mineral Resources for the initial 5 years of mine production that typically cover the project finance debt period. The addition of this data will increase Giyani?s knowledge of its K.Hill deposit, enabling more accurate modelling of the ore grade and the elemental profile of ore going to the plant, in turn allowing more accurate forecasting of its production profile. Some 100t of mineralised material from K.Hill was shipped to Johannesburg in 2023 and is expected to be processed into HPMSM at the Demo Plant in H2 2024.

The same ore from K.Hill will be used as feedstock in the Commercial Plant which is planned to be built in Botswana and start ramping up to full commercial scale production in 2027. Source: K.Hill Battery-Grade Manganese Project Preliminary Economic Assessment, National Instrument 43-101 Technical Report, with an effective date of 31st July 2023, was prepared on behalf of Giyani Corp. by CSA Global South Africa (Pty) Ltd, an ERM Group company, Tetra Tech Europe, Knight Piésold Ltd. and Axe Valley Mining Consultants Ltd. and was filed under the Company's profile on SEDAR+ on August 25, 2023.

Mr. Luhann Theron, MSc., Pr.Sci.Nat. 400184/15, of Lambda Tau is registered with the South African Council for Natural Scientific Professions, membership number 400184/15, and last visited the K.Hill Project site in March 2024 and is a QP, as defined by NI 43-101. Mr. Theron is the Chief Geologist for the Company and has reviewed and approved the scientific and technical content contained in this announcement but is not independent for the purposes of NI 43-101.