Giyani Closes Private Placement Financing

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

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") is pleased to announce that the partly brokered private placement financing (the "Private Placement"), as initially announced on September 4, 2020 and increased in size on September 11, 2020, has closed. The Private Placement was fully subscribed and comprised of 9,600,000 units (each, a "Unit") at a price of $0.125 per Unit for gross proceeds of $1.2 million in immediately available new funding.

Each Unit consists of one (1) common share (each, a "CommonShare") and one half (½) of one Common Share purchase warrant. Each whole warrant will entitle the holder to purchase one Common Share at an exercise price of $0.20 per share until the date that is 18 months from the date of issue.

In connection with the Private Placement, Giyani also issued 358,320 finder's warrants which entitle the holders thereof to purchase common shares for 18 months at a purchase price per common share of $0.125.

The net proceeds from the Private Placement will be used for working capital requirements and other general corporate purposes.

Insiders and management of Giyani subscribed for an aggregate of 2,347,668 Units or 24% of the Private Placement, which subscriptions are considered related party transactions within the meaning of TSX Venture Exchange (the "TSXV") Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the insider subscriptions.

The Private Placement is subject to the final acceptance of the TSXV. All securities issued are subject to a statutory four month and one day hold period, which will end on January 19, 2021.

Robin Birchall, CEO of Giyani Metals Corp. commented:

"I am delighted with the success of the Private Placement. I believe we are at an inflection point in the awareness of manganese in the battery electric vehicle market and expect increasing exposure in the coming months. We are working hard towards the completion of the feasibility study on our flagship K.Hill project in Botswana, expected to be completed in H1 next year. In the meantime, we continue to fine tune the preliminary economic assessment, lastreleased on 28 April 2020, to include our most up to date assumptions and modified product mix, as announced on 3 September 2020. We will update the market on this work in due course."

About Giyani
Giyani Metals Corp. is a mineral resource company focused on the development of its K.Hill, Lobatse & Otse manganese oxide projects in the Kanye Basin, Botswana, Africa. The Company's flagship K.Hill project is a near-surface deposit currently going through a feasibility study to produce high-purity electrolytic manganese metal and manganese sulphate, both key cathode ingredients for batteries in the expanding electric vehicle (EV) market.

Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. Website: https://giyanimetals.com/.

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

Robin Birchall, CEO

Contact:
Robin Birchall
CEO, Director
+44 7711 313019
rbirchall@giyanimetals.com

Thomas Horton
VP, Business Development
+44 7866 913207
thorton@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.SecuritiesAct"),oranystatesecuritieslaws,andaccordingly,maynotbeofferedorsoldto,orfortheaccountorbenefit 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 statements regarding the completion of the feasibility study on the K.Hill project in H1 2021 and an update on work related to the preliminary economic assessment.

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.

Giyani Metals CORP.
1155 North Service Road West, Unit 11
Oakville, Ontario L6M 3E3
www.giyanimetals.com        TSX.V-EMM