Scott Lendrum appointed Chief Executive Officer of Giga Metals Corporation

Rhea-AI Summary

Giga Metals (OTCQB: GIGGF) has announced significant leadership changes with the appointment of Scott Lendrum as Chief Executive Officer, effective July 2, 2025. Lendrum, who brings extensive experience in mining sector investment banking, will also join the company's board of directors. The restructuring includes Martin Vydra stepping down from his roles as President and Director but continuing as Strategic Advisor, while former CEO Mark Jarvis transitions to President.

As part of his appointment, Lendrum has been granted 2,000,000 stock options at an exercise price of $0.10 per share, while Jarvis agreed to cancel 1,900,000 options priced at $0.52. The company's leadership changes aim to strengthen its position in developing the Turnagain nickel and cobalt project.

Positive

• Appointment of experienced mining sector investment banker Scott Lendrum as CEO
• Former CEO Mark Jarvis remains with company as President, ensuring leadership continuity
• Martin Vydra continues involvement as Strategic Advisor
• New CEO granted options at $0.10, showing alignment with shareholder interests

Negative

• Significant leadership restructuring could create temporary organizational adjustment period
• Cancellation of higher-priced options ($0.52) by former CEO may signal lower price expectations

VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Giga Metals Corporation (TSX.V: GIGA, OTCQB: GIGGF, FSE: BRR2) (the "Company") is pleased to announce that Scott Lendrum has been appointed Chief Executive Officer of the Company, effective July 2, and will also join the board of directors of the Company (the "Board").

Mr. Lendrum has extensive experience as an investment banker specializing in the mining sector. He has a strong track record in executing cross-border mergers and acquisitions, equity financing, and capital market transactions, and has held leadership positions at several prominent financial institutions, most recently at Paradigm Capital from 2021 – 2024, where he was Director of Investment Banking (Mining).

“The appointment of Mr. Lendrum reflects our Company's commitment to advancing its long-term strategic objectives and enhancing shareholder value,” said Lyle Davis, Chairman of the Board. “We are very excited to welcome him to the Board and to this leadership position.”

“This is the opportunity I have been looking for,” said Mr. Lendrum. “I am extremely excited to join Giga Metals and continue the successful work carried out by Mark and the team. Turnagain is a significant project in a great jurisdiction, and it has exciting exploration upside in addition to its large nickel and cobalt deposit, described in a PFS dated October, 2023. I believe there is a lot of value to be unlocked here, and I look forward to the challenge.”

In connection with this transition, Martin Vydra has stepped down from his roles as President and Director of the Company, effective today. Mr. Vydra will continue to play a key role with the Company, serving as a Strategic Advisor to support the Company's leadership and ongoing development.

Additionally, Mark Jarvis, who has served as Chief Executive Office since 2005, will assume the role of President. This new structure ensures continuity and a strong foundation for the Company's next phase of growth.

"We are thrilled to welcome Mr. Lendrum to the team. We believe that his leadership and vision will be invaluable as we pursue our strategic goals," said Mr. Jarvis. "We also thank Mr. Vydra for his significant contributions to the Company and look forward to his continued involvement in an advisory capacity."

In connection with Mr. Lendrum's appointment, the Company has issued Mr. Lendrum 2,000,000 options (the "Options") exercisable into 2,000,000 common shares of the Company at an exercise price of $0.10 for a period of 5 years pursuant to the Company's stock option plan. The Options vest as to one quarter immediately, with an additional one quarter vesting annually. All options vest on a Change of Control. Mr. Jarvis and the Company have also agreed to cancel 1,900,000 options held by Mr. Jarvis, each of which was exercisable into a common share of the Company at a price of $0.52 until the end of 2025.

For more details, please join President Mark Jarvis & CEO Scott Lendrum for a live corporate update on June 25 at 11 AM ET / 8 AM PT. CLICK HERE TO REGISTER.

About Giga Metals Corporation

Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned jointly by Giga Metals Corporation and Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023.

Forward-looking Statements

Certain statements in this news release are forward-looking statements, which reflect the expectations of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include, but are not limited to, the Company's strategic goals and future plans. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

On behalf of the Board of Directors of Giga Metals Corporation

“Lyle Davis”

LYLE DAVIS
Chairman of the Board

Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com

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

Suite 604-700 West Pender Street, Vancouver, BC V6C 1G8
www.gigametals.com
Tel: 604 681 2300

FAQ

Who is the new CEO of Giga Metals (GIGGF) and when does he start?

Scott Lendrum has been appointed as CEO of Giga Metals, effective July 2, 2025. He brings extensive experience in mining sector investment banking.

What happened to Giga Metals' former executives in the leadership change?

Former CEO Mark Jarvis has transitioned to President, while former President Martin Vydra stepped down but continues as Strategic Advisor.

What stock options were granted to Giga Metals' new CEO?

Scott Lendrum received 2,000,000 stock options at an exercise price of $0.10 per share, vesting quarterly over 5 years.

What is the Turnagain project mentioned by Giga Metals' new CEO?

Turnagain is a large nickel and cobalt deposit with exploration upside, detailed in a PFS dated October 2023.

When can investors learn more about Giga Metals' leadership changes?

Investors can join a live corporate update with President Mark Jarvis & CEO Scott Lendrum on June 25 at 11 AM ET / 8 AM PT.