Giyani Provides Update on Release of Year End 2019 and First Quarter 2020 Results

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OAKVILLE, Ontario, May 28, 2020 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM) (FRANKFURT:KT9) (WKN:A2DUU8) ("Giyani" or the "Company") announces that, further to its news release of April 28, 2020, it intends to file its Annual Audited Financial Statements and Management's Discussion & Analysis for the year ended December 31, 2019 (the "Year-End Documents") by no later than June 12, 2020 and its Interim Financial Statements and Management's Discussion & Analysis for the quarter ended March 31, 2020 (the "Q1 Documents") by no later than June 30, 2020. The delivery and filing of the Year-End Documents and the Q1 Documents were postponed due to logistics and delays caused by the COVID-19 pandemic, including the lockdown implemented in Canada and Botswana in connection with the pandemic.

Giyani is relying on exemptive relief granted by Canadian securities regulatory authorities that allows the Company to delay the filing of the Year-End Documents, required by sections 4.2 and 4.6(3) of National Instrument 51-102 ("NI 51-102") by April 29, 2020, and the filing of the Q1 Documents, required by sections 4.4 and 4.6(3) of NI 51-102 by May 30, 2020. In response to the COVID-19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.

Until the Company has filed the required Year-End Documents and Q1 Documents, members of the Company's management and other insiders will remain subject to an Insider Trading Black Out period throughout this extension consistent with the principles of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Since the date of the last interim financial statements that were filed on November 15, 2019, the following material changes occurred:

• The acquisition from Malungani Resources (Pty) Ltd of all of the outstanding ordinary shares of Lexshell 837 (Pty) Ltd. as announced on December 9, 2019
• The update and amendment of the technical report for the K.Hill manganese project in Botswana as announced on April 28, 2020
• The issuance of shares for debt as announced on May 6, 2020
• Completion of private placement financing as announced on May 25, 2020

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