2024 Drilling Programme Commences at the K.Hill Project - Seite 2

The programme builds on the July 2023 MRE, see table below, which was prepared using data from 187 RC and DD holes from all drilling campaigns conducted over the Project since 2018, totalling 10,710m.

The goal of the programme is to upgrade and reclassify a portion of the current 8.6Mt Indicated Mineral Resource into Measured Mineral Resources, to ensure the Project has sufficient Measured Mineral Resources for the initial 5 years of mine production that typically cover the project finance debt period.

The addition of this data will increase Giyani’s knowledge of its K.Hill deposit, enabling more accurate modelling of the ore grade and the elemental profile of ore going to the plant, in turn allowing more accurate forecasting of its production profile.

Some 100t of mineralised material from K.Hill was shipped to Johannesburg in 2023 and is expected to be processed into HPMSM at the Demo Plant in H2 2024. The same ore from K.Hill will be used as feedstock in the Commercial Plant which is planned to be built in Botswana and start ramping up to full commercial scale production in 2027.

Figure 1: 2024 K.Hill Drill Programme

Mineral Resource Estimate¹

The Mineral Resource Estimate completed by CSA Global in July 2023 is presented for ease of reference.

Mineral Resource Classification	Tonnage (Mt)	Grade (% MnO)	Contained MnO (Mt)	HPMSM Equivalent (Mt)2
Indicated	8.6	15.2	1.3	3.1
Inferred	6.1	14.1	0.9	2.1

Table 1: K.Hill Project CSA Global MRE Statement as of July 2023 (at a cut-off grade of 7.3% MnO)

1. Source: K.Hill Battery-Grade Manganese Project Preliminary Economic Assessment, National Instrument 43-101 Technical Report, with an effective date of 31st July 2023, was prepared on behalf of Giyani Corp. by CSA Global South Africa (Pty) Ltd, an ERM Group company, Tetra Tech Europe, Knight Piésold Ltd. and Axe Valley Mining Consultants Ltd. and was filed under the Company's profile on SEDAR+ on August 25, 2023.
2. Before processing recoveries are applied.
   

MRE Notes:
a)   The Mineral Resource has been classified and reported under the guidelines defined by the Canadian Institute of Mining, Metallurgy and Petroleum in their document “CIM Definition Standards for Mineral Resources and Mineral Reserves” of May 2014.