Giyani Announces the Installation of Crystallization Unit and Corporate Update

Not for distribution to U.S. newswire services or for dissemination in the United States

TORONTO, June 27, 2023 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“), developer of the K.Hill battery-grade manganese project (“K.Hill” or the “Project”) in Botswana, is pleased to provide an update on the installation of the crystallization unit at its demonstration plant (“Demo Plant”) facility in Johannesburg and other activities.

Highlights

• Crystallization unit successfully installed at the Demo Plant facility.
• Comments received from Botswana’s Department of Environmental Affairs (“DEA”) on the K.Hill Environmental Impact Statement (“EIS”) submitted in March 2023.
• Updated Mineral Resource Estimate (“MRE”) for K.Hill being finalized.

Installation of Crystallization Unit

Following the completion of the civil works at the Demo Plant facility, the crystallization unit, which stands 15 meters (“m”) tall, has been installed. The unit comprises two crystallizers and an evaporator which, once commissioned, will be capable of producing up to 600 kg of dry high-purity manganese sulphate monohydrate (“HPMSM”) crystals per day.

The crystallization unit serves as a core component of the Demo Plant, which has been established to validate the process flowsheet, mitigate risks associated with the scaling up of the commercial plant at K.Hill and facilitate off-take contracts. The design emulates the continuous process of the proposed full-scale K.Hill commercial plant, enabling the steady state production of HPMSM crystals that meet the rigorous product specifications set by potential off-takers.

EIS Update

Following the submission of the EIS on March 31, 2023, Giyani’s wholly-owned subsidiary, Menzi Battery Metals (Pty) Limited (“Menzi”), has received formal comments from the DEA as part of the Environmental Impact Assessment (“EIA”) process. The Company has reviewed the comments and will submit responses in the coming days.

Under legislation, the DEA will have 14 working days to provide any further comments and once all comments are addressed to the satisfaction of the DEA, the EIS will be made available for public disclosure. The EIA process will culminate in the issue of an Environmental Authorisation by the DEA, which will enable the Company to apply for a Mining Licence for K.Hill from the Botswana Department of Mines.

K.Hill MRE Update

The Company has engaged CSA Global (“CSA”) to prepare an updated K.Hill MRE. The MRE will include data from all 187 reverse-circulation and diamond drill holes from all drilling campaigns conducted over the Project since 2018, totalling 10,710 m. The 2022 in-fill drilling campaign included 40 step-out holes along strike into a previously untested section to the south and confirmed the presence of further mineralization and the potential to add tonnage to the existing resource. The Company intends to undertake an independent peer review of the results of the MRE before finalization.

Danny Keating, President and CEO of the Company, commented:

“The size and scale of the crystallization unit sets Giyani’s Demo Plant apart from similar facilities being developed in the high purity manganese space. Its successful installation is a testament to the efforts of our team and our contractors and brings us another step closer to the production of HPMSM at scale for qualification by off-takers.

In addition, the response of the DEA to our EIS submission means that we are able to advance the permitting process of K.Hill in conjunction with the Demo Plant. We look forward to continuing our positive relationship with the Government of Botswana as we develop the Project. With the updated K.Hill MRE being finalized, the Company is looking forward to a busy second half of 2023.”

About Giyani

Giyani’s mission is to become a sustainable, low carbon producer of battery materials for the electric vehicle (“EV”) industry. The Company has developed a hydrometallurgical process to produce high-purity manganese sulphate monohydrate, a lithium-ion battery cathode precursor material critical for EVs, directly from ore from its manganese oxide deposits in Botswana, wholly-owned by its Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company’s assets include K.Hill and the Otse and Lobatse manganese prospects, each of which has seen historical mining activities.

Qualified Persons / NI 43-101 Disclosures

Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the Company’s VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.

On behalf of the Board of Directors of Giyani Metals Corp.

Danny Keating, President & Chief Executive Officer

Contact:
Danny Keating
President & Chief Executive Officer
dkeating@giyanimetals.com

George Donne
VP Business Development
+44 7866 591 897
gdonne@giyanimetals.com

Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons”), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account of benefit of, persons in the United States or U.S. Persons.

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”, “forecast”, “budget” and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur.

All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani’s ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani’s ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 or a similar public health threat is managed; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani’s forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.

Giyani’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani’s Annual Information Form, which is filed on SEDAR at www.sedar.com.