Giyani Metals Corp. announce an updated Mineral Resource Estimate (“MRE”) for K.Hill. The MRE has been prepared by CSA Global South Africa, an ERM Group company (“CSA Global”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Code (“CIM Code”) and National Instrument 43-101 (“NI 43-101”).

An independent peer review has also been performed on the updated MRE by Paul Daigle, P.Geo., géo. In February 2022, the Company released an MRE for K.Hill based on data from 115 reverse-circulation (“RC”) and diamond drill (“DD”) holes totaling 4,793 meters (“m”) of drilling. The updated MRE from CSA Global has been prepared using data from 187 RC and DD holes from all drilling campaigns conducted over the Project since 2018, totaling 10,710 m. This additional drilling, completed since February 2022, includes 40 step-out holes along strike into a previously untested, but mineralized, section to the west and to the south. This collated and complete set of drilling data, together with new density determination programs and updated optimization parameters for the constrained pit shell, has seen a strong conversion of Inferred to Indicated Mineral Resources resulting in an increase in Indicated Mineral Resources of more than 300% and an increase of almost 100% in Inferred Mineral Resources.

The MRE reported has been restricted to all classified material located within an optimized pit shell based on market data within the Company’s K.Hill feasibility study (“FS”) filed in December 2022. The pit shell also used various technical economic parameters, derived from ongoing technical studies for the Project. This represents the material which CSA Global considers having reasonable prospects for eventual economic extraction.

As a result of the new MRE, the Company has commenced a study to analyze the implications of extending project life beyond 25 years, as well as considering the potential installation of a second processing line to double capacity at the proposed K.Hill plant site. An updated PEA for K.Hill based on the new MRE and a development plan targeting optimal plant feed grade has been commissioned and results are expected before year end.