Mr. Scott Lendrum reports

ARCA AND GIGA METALS SIGN EXCLUSIVE AGREEMENT TO EXPLORE CARBON REMOVAL AT B.C. NICKEL PROJECT WITH POTENTIAL TO REMOVE 220 MILLION TONNES OF ATMOSPHERIC CARBON DIOXIDE

Arca Climate Technologies Inc., an industrial mineralization company, and Giga Metals Corp. signed a 10-year tailings and waste rock access agreement on Jan. 9, 2026.

The agreement grants Arca an exclusive right to evaluate the potential of the ultramafic waste rock and mine tailings at the Turnagain project to permanently remove carbon dioxide from the atmosphere. Arca will conduct sampling, analysis, pilot-scale testing and technoeconomic studies using its proprietary industrial mineralization technology.

Giga Metals estimates that approximately 1.3 billion tonnes of ultramafic material will be generated at the site once mining commences. Arca's technologies activate minerals found in ultramafic rock, accelerating a natural geochemical process called carbon mineralization -- the transformation of atmospheric carbon dioxide into stable solid mineral form. Co-benefits related to waste valorization and mine site sustainability are also generated. Arca estimates that the deployment of its technologies on site will create the lifetime potential to remove up to 220 million tonnes of carbon dioxide from the atmosphere.

The Canadian government 2022 critical minerals strategy identified nickel production as a national priority to meet the demands of the energy transition, with the goal of making Canada a global supplier of choice for critical minerals. The pursuit of this goal has been enhanced recently by new Canadian federal government investments and policies such as the Critical Minerals Sovereign Fund, the Defence Industrial Strategy and the Major Projects Office.

"As Canada seeks to strengthen our economy and our position as a leading producer of critical minerals, Turnagain stands out as one of the largest undeveloped nickel resources in the country," said Paul Needham, chief executive officer of Arca. "By pairing critical minerals development with permanent carbon dioxide removal, Giga Metals and Arca will demonstrate a new mining paradigm with enhanced project economics and broader societal benefit."

"At Giga Metals, we have been working with Arca Principals on carbon sequestration for more than a decade," said Scott Lendrum, chief executive officer of Giga Metals. "We are pleased to formalize our arrangement to allow both companies to focus on what they do best: produce nickel concentrate with high ESG credentials and maximize the permanent sequestration of carbon dioxide by converting mine waste into reactive sequestration minerals. Working with Arca allows us to evaluate emerging technologies that could enhance the environmental and economic performance of the Turnagain project while supporting innovation in the mining sector."

About Giga Metals Corp.

Giga Metals' 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 and Mitsubishi Corp.

The Turnagain ultramafic complex is also prospective for copper, platinum and palladium mineralization in the Attic zone, an area adjacent to the known nickel resource.