Giga Metals, Arca enter Turnagain tailings deal

Executive Summary

• Giga Metals Corp. and Arca Climate Technologies Inc. signed a 10-year exclusive agreement granting Arca access to evaluate and utilize ultramafic waste rock and mine tailings at Giga Metals' Turnagain project in British Columbia for carbon removal purposes.
• The agreement allows Arca to conduct sampling, analysis, and pilot-scale testing using its proprietary industrial mineralization technology to permanently sequester atmospheric carbon dioxide.
• Giga Metals estimates that approximately 1.3 billion tonnes of ultramafic material will be generated once mining commences, with Arca estimating the potential to remove up to 220 million tonnes of carbon dioxide from the atmosphere over the lifetime of the project.

Key Details

• Agreement Type: 10-year tailings and waste rock access agreement.
• Effective Date: January 9, 2026.
• Parties: Giga Metals Corp. (Grantor) and Arca Climate Technologies Inc. (Grantee).
• Asset: Turnagain project, Northern British Columbia.
• Scope of Work: Arca has exclusive rights to evaluate the potential of ultramafic waste rock and mine tailings. Activities include sampling, analysis, pilot-scale testing, and technoeconomic studies.
• Technology: Arca’s proprietary industrial mineralization technology, which activates minerals in ultramafic rock to accelerate carbon mineralization (transforming atmospheric CO2 into stable solid mineral form).
• Material Volume: Giga Metals estimates ~1.3 billion tonnes of ultramafic material will be generated at the site upon mining commencement.
• Carbon Removal Potential: Arca estimates the deployment of its technologies on-site has the lifetime potential to remove up to 220 million tonnes of atmospheric carbon dioxide.
• Strategic Context: The partnership aligns with the Canadian government’s 2022 critical minerals strategy, which identifies nickel production as a national priority for the energy transition.
• Project Background: Turnagain is held in Hard Creek Nickel, a subsidiary jointly owned by Giga Metals and Mitsubishi Corp. It is described as one of the few significant undeveloped sulphide nickel and cobalt resources in the world, with additional prospective copper, platinum, and palladium mineralization in the Attic zone.

Notable Quotes

• Paul Needham, CEO of Arca: "As Canada seeks to strengthen our economy and our position as a leading producer of critical minerals, Turnagain stands out as one of the largest undeveloped nickel resources in the country... By pairing critical minerals development with permanent carbon dioxide removal, Giga Metals and Arca will demonstrate a new mining paradigm with enhanced project economics and broader societal benefit."
• Scott Lendrum, CEO of Giga Metals: "At Giga Metals, we have been working with Arca Principals on carbon sequestration for more than a decade... We are pleased to formalize our arrangement to allow both companies to focus on what they do best: produce nickel concentrate with high ESG credentials and maximize the permanent sequestration of carbon dioxide by converting mine waste into reactive sequestration minerals."