Giga Metals regains full Turnagain ownership from Mitsubishi

• The repurchase is anticipated to close on or around Oct. 12, 2026.
• Mitsubishi said the decision followed its broader portfolio review and assessment of North American nickel and EV markets since investment.
• Giga said its 2023 pre-feasibility study was followed by a shift toward copper exploration in the unexplored or underexplored parts of Turnagain.

Giga Metals said the change took effect on Sept. 28, 2026, subject to the Turnagain Joint Venture agreement dated Aug. 15, 2022. Mitsubishi has agreed to sell its approximate 15% interest back to Giga for nominal consideration.

Giga Metals regains full Turnagain ownership from Mitsubishi

The repurchase is anticipated to close on or around Oct. 12, 2026. Giga said the move leaves it with 100% ownership of the Turnagain Project.

Kota Ikenishi, general manager of the Battery Minerals Department at Mitsubishi Corporation, said the decision was not a reflection of Turnagain or of Giga's work. He said it resulted from Mitsubishi's broader portfolio review and assessment of the North American nickel and EV markets since investment.

Scott Lendrum, Giga Metals' CEO, thanked Mitsubishi for its investment in the project. He said the company completed a pre-feasibility study on its nickel and cobalt deposit in 2023 and has since focused on copper exploration potential in the 80% of the Turnagain ultramafic system that remains unexplored or underexplored.

Giga said a multi-phase exploration program is under way, guided by Dr. Stephen Beresford, with emphasis on known copper mineralization and the potential of the Attic Zone. The company said the Turnagain Project in northern British Columbia contains one of the few significant undeveloped sulfide nickel and cobalt resources in the world.