Giyani Provides Update on Otse Prospect Exploration Program in Botswana and Announces Grant of Stock Options
Not for distribution to U.S. newswire services or for dissemination in the United States
TORONTO, June 18, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“) is pleased to announce the commencement of an induced polarization (“IP”) program at its Otse manganese prospect (“Otse”), an historically mined property located in the Kanye Basin in south-eastern Botswana. Furthermore, an annual grant of stock options has been made to the three non-executive directors of the Company following their re-election.
Otse IP Program
Spectral Geophysics has been appointed as the contractor to complete the 3D-IP survey (the “Survey”) at Otse. The Survey’s objective is to detect manganese oxide mineralisation below overburden material and define drill targets. The area of the Survey will approximate 50 hectares; focus on two areas surrounding two historical pits (see Figure 1); and be conducted using IRIS Instruments’ FullWaver systems, using 20 independent receiver nodes and a sufficient number of current injection nodes to obtain the appropriate depth penetration and spatial resolution. A minimum of 40 current injection points will be used with the potential dipole length at 25 m and spacing between dipoles at 25 m in a north-south direction and 50 m in an east-west direction. Mobilization will commence during the week of June 21, 2021.
Figure 1: Planned location of the 3D-IP Survey
Grant of Stock Options
At the Company’s annual meeting of shareholders held on June 17, 2021, all matters to be voted on were passed including the re-election of board members. In accordance with the Company’s policy, an annual grant of an aggregate of 450,000 stock options (each an “Option“) has been made to the three non-executive directors of the Company under the terms of its stock option plan. Each Option is exercisable into one common share (a “Share“) of the Company at a price of $0.40 per Option for a period of five years from the date of grant, being today. All Options vest immediately.
Giyani is a mineral resource company focused on the advancement of its manganese assets within the Kanye Basin in south-eastern Botswana, Africa (the “Kanye Basin Prospects”). The Kanye Basin Prospects include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Project, as well as the Otse and the Lobatse manganese prospects, both of which have seen historical mining activities. The Company’s strategy is to become a low-carbon footprint producer of high-purity electrolytic manganese precursor materials used by battery manufacturers for the expanding electric vehicle market.
Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website at https://giyanimetals.com/.
About Spectral Geophysics
Spectral Geophysics was founded in 1993 by two geophysicists operating in South Africa and Botswana. Current operations expand throughout Africa, India and the Middle East. The company prides itself on its ability to supply geophysical services to any industry and to use the entire spectrum of geophysical techniques in a cost effective and solution-driven approach. For more info visit: http://www.spectralgeophysics.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Robin Birchall CEO, Director
+44 7711 313019
Corporate Secretary and Investor Relations
+1 416 453 8818
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. Specific forward-looking statements and forward-looking information herein includes completion of receipt of TSXV approval for the private placement and completion of the private placement.
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 related to governmental regulations; risks related to obtaining necessary licenses 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 financial statements and related MD&A, all of which are filed on SEDAR at www.sedar.com.