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
Surveyhttps://www.globenewswire.com/NewsRoom/AttachmentNg/16d76a7e-9bf5-4d83-bed1-f411fc8e4bcd
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.
About Giyani
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
Contact:Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
Judith
WebsterCorporate Secretary and Investor Relations+1 416 453 8818
jwebster@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. 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.
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