OAKVILLE, Ontario, June 26, 2020 – Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“) is pleased to announce the successful renewal of nine (9) prospecting licences in Botswana (“Renewed Prospecting Licences”).
Renewal of Licences
Giyani’s wholly owned subsidiary, Menzi Battery Metals (Pty) Ltd (“Menzi”), a company incorporated in accordance with the laws of Botswana, was granted the Renewed Prospecting Licences by the Department of Mines on June 25, 2020. The Renewed Prospecting Licences include the Company’s flagship K.Hill project and the Otse prospect. The Renewed Prospecting Licences have been granted for a term of 2 years, ending on June 30, 2022.
Pursuant to the renewal process, the Company consolidated the larger licence area it held since July 2017 to focus on the most prospective regions. Aided by results from various field programs during the past three years, the Company decided to relinquish four (4) of its previously held licences and renew 50% of the area of nine (9) licences. The renewal brings Menzi’s total licence area to 2,641km2 as detailed in the following table:
Menzi’s Current Licences
PL Number Licence Area (km2) District Expiry Date
PL258/2017* 148 South East District December 31, 2020
PL294/2016 479 South East District June 30, 2022
PL297/2016 483 Southern District June 30, 2022
PL298/2016 479 South East District June 30, 2022
PL322/2016 438 Southern District June 30, 2022
PL336/2016 118 Southern District June 30, 2022
PL337/2016 144 Southern District June 30, 2022
PL338/2016 127 Southern District June 30, 2022
PL339/2016 77 Southern District June 30, 2022
PL340/2016 148 Southern District June 30, 2022
* The licence covering the Lobatse prospect was not up for renewal
Robin Birchall, CEO of Giyani Metals Corp. commented:
“We are delighted by the renewal of our licences in Botswana. The K.Hill Definitive Feasibility Study is progressing well and this renewal by the Government of Botswana represents a vote of confidence in the Company and its ability to continue its expansive exploration and development program across the licences, and accelerate the development of the K.Hill feasibility study.”
Deferral of Filing of First Quarter 2020 Results
Further to the Company’s news release of May 28, 2020, due to logistical challenges and delays caused by the COVID-19 pandemic, including the lockdown and border closure implemented in Botswana in connection with the pandemic, the Company is relying on exemptive relief granted by Canadian securities regulatory authorities that allows the Company to delay the filing and delivery of the Company’s Interim Financial Statements for the quarter ended March 31, 2020, per sections 4.4 and 4.6(3) of National Instrument NI 51-102 (“NI 51-102“), and its Management’s Discussion & Analysis for the quarter ended March 31, 2020, per sections 5.1(2) and 5.6(1) of NI 51-102, which would otherwise be required to be filed by May 30, 2020 (the “Q1 Documents“).
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 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 financial statements that were filed on June 15, 2020, there has been no material changes to the Company other than what is included in this press release.
The Company expects to file the Q1 Documents no later than July 14, 2020.
Giyani Metals Corp. is a mineral resource company focused on the development of its K.Hill, Lobatse & Otse manganese oxide prospects in the Kanye Basin, Botswana, Africa. The Company’s flagship K.Hill project is a near-surface deposit currently going through a feasibility study to produce high-purity electrolytic manganese metal and manganese sulphate, both key cathode ingredients for batteries in the expanding electric vehicle (EV) market.
Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. Website: https://giyanimetals.com/.
About Menzi Battery Metals
Menzi Battery Metals is a wholly owned Botswana subsidiary of Giyani Metals Corp, incorporated in accordance with the laws of Botswana.