Giga Metals Acquires Mitsubishi’s Interest in Turnagain Project
News related to:Giga Metals Corp · 2 min read
VANCOUVER, British Columbia, Sept. 28, 2026 /CourierPR/ -- Giga Metals Corp. has announced that effective September 28, 2026, the company will acquire 100% ownership of the Turnagain Project, following Mitsubishi Corporation's decision to exercise its Put Right and sell its approximate 15% interest in the project. This acquisition is scheduled to close on or around October 12, 2026, subject to the provisions of the Turnagain Joint Venture agreement dated August 15, 2022.
The decision by Mitsubishi, a General Manager of the Battery Minerals Department, to sell its interest is not a reflection on the Turnagain project itself, nor on the dedication and hard work of the Giga Metals team. Instead, it is the result of Mitsubishi's broader portfolio review and assessment of the North American nickel and EV markets since the initial investment.
Scott Lendrum, CEO of Giga Metals Corp., expressed gratitude to Mitsubishi for its investment in the Turnagain project.
A multi-phase exploration program is currently underway, guided by Dr. Stephen Beresford, with an emphasis on known copper mineralization and the significant potential of the Attic Zone. The exploration program is part of Giga Metals' strategy to diversify its resource base and capitalize on the potential for copper, platinum, and palladium mineralization in the Attic Zone, an area adjacent to the known nickel resource.
Technical information regarding the Turnagain Project has been reviewed and approved by Greg Ross, a Qualified Person under NI 43-101. Ross is the Project Manager for Giga Metals and oversees the technical aspects of the project.
Giga Metals has also issued a statement on forward-looking statements, cautioning that certain statements in the news release are forward-looking and reflect the company's expectations.
The acquisition of Mitsubishi's interest in the Turnagain Project is a significant step for Giga Metals as it aims to strengthen its position in the North American mining sector. With the full ownership of the project, Giga Metals can now focus on its exploration and development plans without the constraints of a joint venture partner.