Giga Metals takes full control of Turnagain after Mitsubishi exit

Giga Metals Corp. said on 28 September 2026 that Mitsubishi Corp. has exercised its Put Right and agreed to sell its approximate 15% interest in the Turnagain Joint Venture back to Giga for nominal consideration. Giga said the repurchase is anticipated to close on or around 12 October 2026.

The company said the move is subject to the Turnagain Joint Venture agreement dated 15 August 2022. Mitsubishi’s General Manager of the Battery Minerals Department, Kota Ikenishi, said the decision was “not a reflection of Turnagain” or of Giga’s work, and that it resulted from Mitsubishi’s broader portfolio review and assessment of the North American nickel and EV markets since investment.

Giga’s chief executive, Scott Lendrum, thanked Mitsubishi for its investment in the project and said the two companies completed a pre-feasibility study of the nickel and cobalt deposit in 2023. He also said that, because of continued uncertainty in the nickel market, the company has shifted attention to the copper exploration potential in the 80% of the Turnagain ultramafic system that remains unexplored or underexplored.

The company said a multi-phase exploration program is currently underway, guided by Dr. Stephen Beresford, with an emphasis on known copper mineralization and the potential of the Attic Zone. Giga also said Turnagain in northern British Columbia contains one of the few significant undeveloped sulfide nickel and cobalt resources in the world, and that the Turnagain ultramafic complex is prospective for copper, platinum and palladium mineralization in the Attic Zone.