Turnagain Nickel-Cobalt Royalty

Asset Overview

Turnagain Highlights

• Among the world’s largest undeveloped nickel-cobalt sulphide deposits
• Located in British Columbia, Canada
• 85% / 15% joint venture between Giga Metals and Mitsubishi Corp.
• NI 43-101 mineral reserve containing:
  • Proven of 408MT grading 0.22% Ni and 0.01% Co
  • Probable of 542MT grading 0.19% Ni and 0.01% Co
  • Total of 950MT grading 0.20% Ni and 0.01% Co
• Pre-Feasibility Study completed in September 2023
• 30-year project life with 37kt Ni and cobalt production annually
• Metallurgical testwork indicates a clean concentrate grading 18% nickel and 1.1% cobalt is achievable using proven simple and reliable “off-the-shelf” processing technology

Royalty Highlights

• 2% Net Smelter Return (NSR) Royalty on all future nickel and cobalt production
• Giga retains buyback option to repurchase 0.5% of the NSR for US$20 million

Potential to Expand Large Resource

Turnagain Orebody

• 30 year project life with 37 kt Ni + Co annually
• Project is open to expansion

Project Overview

Project Overview | Giga Metals Corporation