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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 20-F

[   ]     REGISTRATION STATEMENT
PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

[ X ]     ANNUAL REPORT PURSUANT TO SECTION
13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

OR

[   ]     TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________to
____________

OR

[   ]     SHELL COMPANY REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report
_____________

Commission file number 000-52326

GIGA METALS CORPORATION(Exact name of Registrant as specified in its charter)

Not Applicable(Translation of Registrants
name into English)

British Columbia, Canada(Jurisdiction of
incorporation or organization)

203  700 West Pender Street Vancouver, British Columbia,
V6C 1G8 Canada(Address of principal executive offices)

1

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Copy of communications to:Bernard Pinsky, Esq.Clark
Wilson LLPBarristers and SolicitorsSuite 800  885 West Georgia
StreetVancouver, British Columbia, Canada V6C 3HTelephone: 604-687-5700
Facsimile: 604-687-6314

Securities registered or to be registered pursuant to Section
12(b) of the Act.

|Title of Class | Name of each exchange on which registered
|-------------- | -----------------------------------------
|Not Applicable | Not Applicable                           

Securities registered or to be registered pursuant to Section
12(g) of the Act.

Common Shares Without Par Value(Title of
Class)

Securities for which there is a reporting obligation pursuant to
Section 15(d) of the Act.

Not Applicable(Title of Class)

Indicate the number of outstanding shares of each of the
issuers classes of capital or common stock as of the close of the period
covered by the annual report.

40,664,015 Common Shares without par value issued and
outstanding as at December 31, 2017.

Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities
Act.YES     [   ]    
NO     [X]

If this report is an annual or transition report, indicate by
check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934.    
[   ]     YES    
[X]     NO

Note  Checking the box above will not relieve any registrant
required to file reports pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.[X]    
YES     [   ]     NO

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate website, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files).[   ]     YES    
[   ]     NO

2

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Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, or a non-accelerated filer. See
definition of accelerated filer and large accelerated filer in Rule 12b-2 of
the Exchange Act. (Check one): Large accelerated filer    
[   ] 
[   ]     Accelerated
filer     [   ]    
Non-accelerated filer     [X]

Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing:

|U.S. GAAP     [   ] | Other     [   ]
|------------------- | ---------------

International Financial Reporting Standards as issued by the
International Accounting Standards Board     [ X]

If Other has been checked in response to the previous
question, indicate by check mark which financial statement item the registrant
has elected to follow.

[   ]     ITEM
17     [X]     ITEM 18

If this is an annual report, indicate by check mark whether the
registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).     [   ]    
YES     [X]     NO

3

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TABLE OF CONTENTS

PageForward-Looking Statements
    5PART I
    
    
    6Financial
      Information And Accounting Principles
    6Item 1
    Identity of
      Directors, Senior Management and Advisers
    7A.
    Directors and
      Senior Management
    7B.
    Advisers
    7C.
    Auditors
    7Item 2
    Offer Statistics
      and Expected Timetable
    7Item
      3
    Key Information
    7A.
    Selected Financial Data
    7B.
    Capitalization and Indebtedness
    8C.
    Reasons for the Offer and
      Use of Proceeds
    8D.
    Risk Factors
    8Item 4
    Information on
      our Company
    14A.
    History and
      Development of our Company
    14B.
    Business Overview
    15C.
    Organizational Structure
    18D.
    Property, Plant and
      Equipment
    18Item
      5
    Operating and Financial Review and Prospects
    25A.
    Operating Results
    25B.
    Liquidity
      and Capital Resources
    26C.
    Research and Development,
      Patents and Licenses, etc.
    27D.
    Trend
      Information
    27E.
    Off-Balance Sheet
      Arrangements
    27F.
    Tabular
      Disclosure of Contractual Obligations
    27Item 6
    Directors,
      Senior Management and Employees
    28A.
    Directors
      and Senior Management
    28B.
    Compensation
    30C.
    Board
      Practices
    31D.
    Employees
    31E.
    Share
      Ownership
    31Item 7
    Major
      Shareholders and Related Party Transactions
    32A.
    Major
      Shareholders
    32B.
    Related Party Transactions
    32C.
    Interests of
      Experts and Counsel
    33Item 8
    Financial
      Information
    33A.
    Consolidated
      Financial Statements and Other Financial Information
    33B.
    Significant Changes
    33


4

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|Item
      9   | The
      Offer and Listing                                                        | 33                                                                           
|-------------- | ---------------------------------------------------------------------------------- | -----------------------------------------------------------------------------
|               | A.                                                                                 | Common
      Share Trading Information                                       
|               | B.                                                                                 | Plan
      of Distribution                                                   
|Item
      10  | Additional
      Information                                                       | 35                                                                           
|               | A.                                                                                 | Share
      Capital                                                          
|               | B.                                                                                 | Articles
      of Incorporation and By-laws                                  
|               | C.                                                                                 | Material
      Contracts                                                     
|               | D.                                                                                 | Exchange
      Controls                                                      
|               | E.                                                                                 | Taxation                                                                     
|               | F.                                                                                 | Dividends
      and Paying Agents                                            
|               | G.                                                                                 | Statement
      by Experts                                                   
|               | H.                                                                                 | Documents
      on Display                                                   
|               | I.                                                                                 | Subsidiary
      Information                                                 
|Item
      11  | Quantitative
      and Qualitative Disclosures About Market Risk                   | 44                                                                           
|Item
      12  | Description
      of Securities Other than Equity Securities                       | 44                                                                           
|PART
      II  |                                                                                    | 44                                                                           
|Item
      13  | Defaults,
      Dividend Arrearages and Delinquencies                              | 44                                                                           
|Item
      14  | Material
      Modifications to the Rights of Security Holders and Use of Proceeds | 44                                                                           
|Item
      15  | Controls
      and Procedures                                                      | 44                                                                           
|Item
      16  | [Reserved]                                                                         | 45                                                                           
|               | A.                                                                                 | Audit
      Committee Financial Expert                                       
|               | B.                                                                                 | Code
      of Ethics                                                         
|               | C.                                                                                 | Principal
      Accountant Fees and Services                                 
|               | D.                                                                                 | Exemptions
      from the Listing Standards for Audit Committees.            
|               | E.                                                                                 | Purchases
      of Equity Securities by the Issuer and Affiliated Purchasers.
|PART
      III |                                                                                    | 46                                                                           
|Item
      17  | Financial
      Statements                                                         | 46                                                                           
|Item
      18  | Financial
      Statements                                                         | 46                                                                           
|Item
      19  | Exhibits                                                                           | 46                                                                           
|               | SIGNATURE                                                                          | 47                                                                           

FORWARD-LOOKING STATEMENTS

Except for the statements of historical fact contained herein,
some information presented in this annual report constitutes forward-looking
statements. When used in this annual report, the words estimate, project,
believe, anticipate, intend, expect, predict, may, should, the
negative thereof or other variations thereon or comparable terminology are
intended to identify forward-looking statements. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of our company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among others,
changes in project parameters as plans continue to be refined, future prices of
nickel, as well as those factors discussed in the section entitled Risk
Factors on page . Although our company has attempted to identify important
factors that could cause actual results to differ materially, there may be other
factors that cause actual results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, prospective investors should not
place undue reliance on forward-looking statements. The forward-looking
statements in this annual report speak only as to the date hereof. Our company
does not undertake any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. Except as required by
applicable law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform these
statements to actual results.

5

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As used in this annual report, the terms we, us, our and
Giga Metals mean Giga Metals Corporation, unless otherwise indicated.

CAUTIONARY NOTE TO UNITED STATES INVESTORS

Unless otherwise indicated, all mineral resource estimates
included in this Annual Report on Form 20-F have been prepared in accordance
with Canadian National Instrument 43-101  Standards of Disclosure for
Mineral Projects (NI 43-101), and the Canadian Institute of Mining,
Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral
Reserves (CIM Definition Standards). NI 43-101 is a rule developed by the
Canadian Securities Administrators which establishes standards for public
disclosure an issuer makes of scientific and technical information concerning
mineral projects. NI 43-101 permits the disclosure of a historical estimate made
prior to the adoption of NI 43-101 that does not comply with NI 43-101 using the
historical terminology if the disclosure: (a) identifies the source and date of
the historical estimate; (b) comments on the relevance and reliability of the
historical estimate; (c) states whether the historical estimate uses categories
other than those prescribed by NI 43-101 and, if so, includes an explanation of
the differences; and (d) includes any more recent estimates or data available.

Canadian standards, including NI 43-101, differ significantly
from the requirements of the Securities and Exchange Commission (the SEC), and
reserve and resource information contained in this Annual Report on Form 20-F
may not be comparable to similar information disclosed by U.S. companies. In
particular, and without limiting the generality of the foregoing, the term
resource does not equate to the term reserves. Under U.S. standards,
mineralization may not be classified as a reserve unless the determination has
been made that the mineralization could be economically and legally produced or
extracted at the time the reserve determination is made. The SECs disclosure
standards normally do not permit the inclusion of information concerning
measured mineral resources, indicated mineral resources or inferred mineral
resources or other descriptions of the amount of mineralization in mineral
deposits that do not constitute reserves by U.S. standards in documents filed
with the SEC. U.S. investors should also understand that inferred mineral
resources have a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an inferred mineral resource will ever be upgraded to
a higher category. Under Canadian rules, estimated inferred mineral resources
may not form the basis of feasibility or pre-feasibility studies except in rare
cases. Investors are cautioned not to assume that all or any part of an
inferred mineral resource exists or is economically or legally mineable.
Disclosure of contained ounces in a resource is permitted disclosure under
Canadian regulations; however, the SEC normally only permits issuers to report
mineralization that does not constitute reserves by SEC standards as in-place
tonnage and grade without reference to unit measures. The requirements of NI
43-101 for identification of reserves are also not the same as those of the
SEC, and reserves reported by our company in compliance with NI 43-101 may not
qualify as reserves under SEC standards. Accordingly, information concerning
mineral deposits set forth herein may not be comparable with information made
public by companies that report in accordance with U.S. standards.

PART I

FINANCIAL INFORMATION AND ACCOUNTING PRINCIPLES

The financial statements and summaries of financial information
contained in this document are reported in Canadian dollars ($) unless
otherwise stated. A tonne is one metric ton or 2,204.6 pounds.

FIRST TIME APPLICATION OF INTERNATIONAL FINANCIAL REPORTING
STANDARDS

Effective from January 1, 2010, the Company adopted
International Financial Reporting Standards (IFRS), as issued by the
International Accounting Standards Board. Unless otherwise stated, all
information presented herein has been prepared in accordance with IFRS and all
prior period amounts have been reclassified to conform with IFRS. Please note
that our prior annual financial statements were prepared in accordance with Canadian generally accepted
accounting principles, which may not be comparable to IFRS.

6

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|Item 1 | Identity of Directors, Senior Management and
      Advisers
|------ | -----------------------------------------------------------

Not required.

|Item 2 | Offer Statistics and Expected Timetable
|------ | ---------------------------------------

Not required.

|Item 3 | Key Information
|------ | ---------------

|A. | Selected Financial
Data
|-- | -----------------------

The following financial data summarizes selected financial data
for our company prepared in accordance with International Financial Reporting
Standards (IFRS) as issued by the International Accounting Standards
Board (IASB) for the three fiscal years ended December 31, 2017, 2016 and
2015. The information presented below for the three year period ended December
31, 2017, 2016 and 2015 is derived from our financial statements which were
examined by our independent auditors. The information set forth below should be
read in conjunction with our audited annual financial statements and related
notes thereto included in this annual report, and with the information appearing
under the heading Item 5  Operating and Financial Review and Prospects.

Giga Metals Corporation Selected Financial Data in
accordance with IFRS for the years 2017, 2016 and 2015(Expressed in Canadian
Dollars)

|                                                              |   | 2017       |   |  | 2016       |   |  | 2015        |  
|------------------------------------------------------------- | - | ---------- | - |  | ---------- | - |  | ----------- | -
|Net operating revenues                                        | $ | 0          |   |  | 0          |   |  | 0           |  
|                                                              |   |            |   |  |            |   |  |             |  
|Loss from continued
      operations                          | $ | 0          |   |  | 0          |   |  | 0           |  
|Income from discontinued operations                           | $ | N/a        |   |  | N/a        |   |  | N/a         |  
|Net loss                                                      | $ | (683,299   | ) |  | (224,112   | ) |  | (10,230,524 | )
|Comprehensive loss                                            | $ | (683,299   | ) |  | (224,112   | ) |  | (10,230,524 | )
|                                                              |   |            |   |  |            |   |  |             |  
|Loss per share from continued operations                      | $ | (0.03      | ) |  | (0.01      | ) |  | (1.13       | )
|Income per share from
      discontinued operations           | $ | N/a        |   |  | N/a        |   |  | N/a         |  
|Income per share after discontinued
      operations          | $ | N/a        |   |  | N/a        |   |  | N/a         |  
|                                                              |   |            |   |  |            |   |  |             |  
|Share capital                                                 | $ | 53,218,158 |   |  | 48,887,797 |   |  | 48,642,413  |  
|Common shares issued                                          |   | 40,664,015 |   |  | 21,537,349 |   |  | 9,037,349   |  
|Weighted average shares outstanding                           |   | 25,986,111 |   |  | 18,347,211 |   |  | 9,037,348   |  
|                                                              |   |            |   |  |            |   |  |             |  
|Total assets                                                  | $ | 4,656,028  |   |  | 302,889    |   |  | 239,665     |  
|                                                              |   |            |   |  |            |   |  |             |  
|Net assets (liabilities)                                      | $ | 4,511,046  |   |  | 287,919    |   |  | 223,816     |  
|                                                              |   |            |   |  |            |   |  |             |  
|Convertible debentures (current and long term
      portions) | $ | N/a        |   |  | N/a        |   |  | N/a         |  
|                                                              |   |            |   |  |            |   |  |             |  
|Cash dividends declared per common share                      | $ | 0          |   |  | 0          |   |  | 0           |  
|                                                              |   |            |   |  |            |   |  |             |  
|Exchange rates (CAD$ to US$) period average                   | $ | 1.2986     |   |  | 1.3248     |   |  | 1.2787      |  

7

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Exchange rates (CAD$ to US$) for most recent six months

|                                                 |   | Period High |  |  | Period Low | 
|------------------------------------------------ | - | ----------- |  |  | ---------- | 
|October 2017                                     | $ | 1.2893      |  |  | 1.2472     | 
|November 2017                                    | $ | 1.2888      |  |  | 1.2683     | 
|December 2017                                    | $ | 1.2886      |  |  | 1.2545     | 
|January 2018                                     | $ | 1.2535      |  |  | 1.2293     | 
|February 2018                                    | $ | 1.2809      |  |  | 1.2288     | 
|March 2018                                       | $ | 1.3088      |  |  | 1.2830     | 
|Exchange rate (CAD$ to US$)
      April 26, 2018 | $ | 1.2908      |  |  | 1.2552     | 

|B. | Capitalization and
  Indebtedness
|-- | ---------------------------------

On July 14, 2015, the Company consolidated its common shares on
a basis of one (1) new common share for five (5) old common shares held. On
August 28, 2017, the Company consolidated its common shares on a basis of one
(1) new common share for two (2) old common shares held. Reference to common
shares, per share amounts and other securities have been retroactively restated.

|C. | Reasons for the Offer and Use of
      Proceeds
|-- | -----------------------------------------------

Not required.

|D. | Risk Factors
|-- | ------------

This Annual Report contains forward-looking statements which
relate to future events or our future performance, including our future
financial performance. In some cases, you can identify forward-looking
statements by terminology such as may, should, expects, plans,
anticipates, believes, estimates, predicts, or potential or the
negative of these terms or other comparable terminology. These statements are
only predictions and involve known and unknown risks, uncertainties and other
factors, including the risks in enumerated in this section entitled Risk
Factors, that may cause our companys or our industrys actual results, levels
of activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements.

While these forward-looking statements, and any assumptions
upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results will almost
always vary, sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggested in this Annual Report. Except
as required by applicable law, including the securities laws of the United
States, we do not intend to update any of the forward-looking statements to
conform these statements to actual results.

An investment in our common stock involves a number of very
significant risks. You should carefully consider the following risks and
uncertainties in addition to other information in this annual report in
evaluating our company and our business before purchasing shares of our
companys common stock. Our business, operating results and financial condition
could be seriously harmed due to any of the following risks. You could lose all
or part of your investment due to any of these risks.

8

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Risks Associated with Mining

The Company is engaged in the business of acquiring and
exploring mineral properties in the expectation of locating mineral reserves.
The Companys property interests are in the exploration stage only and are
without a known body of commercial ore. Accordingly, there is little likelihood
that the Company will realize any profits in the short to medium term. Any
profitability in the future from the Companys business will be dependent upon
locating mineral reserves, which itself is subject to numerous risk factors. If
we do not discover any mineral resource in a commercially exploitable quantity,
our business will fail and investors may lose all of their investment in our
company.

The business of exploring for minerals and mining involves a
high degree of risk. Few properties that are explored are ultimately developed
into producing, profitable mines. In developing its mineral deposits, the
Company will be subjected to an array of complex economic factors and
accordingly there is no assurance that a positive feasibility study or any
projected results contained in a feasibility study of a mineral deposit will be
attained. Additional potential problems that may prevent us from discovering any
reserves of minerals on our property include, but are not limited to,
unanticipated problems relating to exploration and additional costs and expenses
that may exceed current estimates. Most of these factors are beyond our control,
and any of them could increase costs and make extraction of any identified
mineral resource unprofitable.

If we are unable to establish the presence of commercially
exploitable reserves of minerals on our property, our ability to fund future
exploration activities will be impeded, we will not be able to operate
profitably and investors may lose all of their investment in our company.

We face intense competition in the mineral exploration
and exploitation industry and we compete with our competitors for financing, for
new mineral resource properties and for qualified managerial and technical
employees. If we are unable to obtain the financing, new mineral properties or
qualified personnel that we require, then we will likely have to cease
operations and investors will lose all of their investment in our company.

Our competition includes large established mining companies
with substantial capabilities and with greater financial and technical resources
than we have. As a result of this competition, we may have to compete for
financing and we may be unable to acquire financing on terms we consider
acceptable. Our competition could adversely affect our ability to acquire
suitable prospects for exploration in the future. We may also have to compete
with the other mining companies in the recruitment and retention of qualified
managerial and technical employees. If we are unable to successfully compete for
financing, mineral properties or qualified employees, we will likely have to
cease operations. If we are unable to successfully compete for the acquisition
of suitable prospects or interest for exploration in the future, we will not
acquire any interest in additional mineral resource properties and have no
further chance of discovering minerals. The occurrence of any of these things
would likely cause us to cease operations and investors would lose their entire
investment in our company.

Because of the inherent dangers involved in mineral
exploration and exploitation, there is a risk that we may incur liability or
damages as we conduct our business. If we are liable to pay for any damages
resulting from the conduct of our business, our financial position could be
adversely affected and we may have to slow down or cease operations and
investors could lose their investment in our company.

The search for valuable minerals involves numerous hazards. As
a result, we may become subject to liability for such hazards, including
pollution, cave-ins and other hazards against which we cannot insure against or
which we may elect not to insure. At the present time we have no coverage to
insure against these hazards. The payment of such liabilities may have a
material adverse effect on our financial position. If so, we may have to slow
down or cease operations and investors could lose their investment in our
company.

9

---

Mineral operations are subject to government regulations
which could have the effect of preventing us from exploiting any possible
mineral reserves on our properties. If this occurs, we may have to cease
operations and investors could lose their investment in our company.

Exploration activities are subject to national and local laws
and regulations governing prospects, taxes, labor standards, occupational
health, land use, environmental protection, mine safety and others which may in
the future have a substantial adverse impact on our companys prospects. In
order to comply with applicable laws, we may be required to make capital
expenditures until a particular problem is remedied. Existing and possible
future environmental legislation, regulation and action could cause additional
expense, capital expenditure, restriction and delay in the activities of our
company, the extent of which cannot be reasonably predicted. If we violate any
applicable law or regulation, we could be forced to stop work and we could be
fined. If we are forced to suspend our activities or if we are required to pay a
large fine for a violation of these applicable laws and regulations, our
business could be adversely affected and investors could lose their investment
in our company.

Our operations are subject to environmental regulations,
which require us to obtain permits and pay bonds and may result in the
imposition of fines and penalties. If we are unable to obtain the permits or pay
the bonds that we require in the future, we will have to cease the exploration
activity in question. Ceasing such exploration activities could reduce our
chances of ever discovering mineral resources on our properties. Environmental
fines or liability could cause expenses for us, reducing the funds we have for
our exploration program and potentially causing us to cease operations. If this
happens, investors may lose their entire investment in our company.

Our operations are subject to environmental regulations
promulgated by government agencies. Environmental legislation provides for
restrictions and prohibitions on spills, releases or emissions of various
substances produced in association with certain mining industry operations, such
as seepage from tailings disposal areas, which would result in environmental
pollution. A breach of such legislation may result in the imposition of fines
and penalties. Environmental legislation is evolving in a manner which means
stricter standards, and enforcement; fines and penalties for non-compliance may
become more stringent. Environmental assessments of proposed projects carry a
heightened degree of responsibility for companies and directors, officers and
employees. Prior to conducting exploration involving surface disturbance in
British Columbia, we are required to obtain a Work Permit from the Ministry of
Energy, Mines and Petroleum Resources. Where significant surface disturbance
through road building and drill site preparation is planned, the Ministry
requires a Reclamation Bond to cover the estimated reclamation costs if we fail
to complete the reclamation. The cost of compliance with governmental
regulations, permits and bond requirements has the potential to reduce the
profitability of operations by curtailing our exploration activities.

We are not aware of any existing environmental liability
associated with any of our exploration properties but if such liability should
arise, we may incur costs, which would reduce the amount of money we have
available to spend on exploration and could cause our company to suspend
operations. Our potential exposure to liability for environmental damage is high
and we have no reserves established to pay for such liability. If we are found
to be liable for a large amount of environmental damage, we are likely to cease
operations. If that happens, investors are likely to lose all of their
investment in our company.

Please see the section entitled Governmental Regulations on
page  of this annual report for more information.

Risks Related To Our Company

We have a limited operating history and have not
generated any operating revenues since our incorporation. This raises
substantial doubt about our ability to continue as a going concern and
does not provide a meaningful basis for an evaluation of our prospects. If
we are unable to generate revenue from our business, we may be forced to delay,
scale back, or cease our exploration activities. If any of these actions were to
become necessary, we may not be able to continue to explore our properties oroperate our business and there is a substantial risk our
business would fail, causing investors to lose all of their investment in our
company.

10

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We have not generated any operating revenues since our
  incorporation and we will, in all likelihood, continue to incur operating
  expenses without revenues until our mining properties are fully developed and in
  commercial production, which may never happen. We had cash and cash equivalents
  in the amount of $4,066,588, receivables of $30,651 and prepaid expenses of
  $361,425 as of December 31, 2017. We estimate our average monthly operating
  expenses to be approximately $27,000. We cannot provide assurances that we will
  be able to successfully explore and develop our mining properties or assure that
  viable mineral reserves exist on our properties for extraction. It is unlikely
  that we will generate any funds internally unless we discover commercially
  viable quantities of ore. If we are unable to generate revenue from our business
  during the fiscal year 2018, we may be forced to delay, scale back, or eliminate
  our exploration activities. If any of these actions were to become necessary, we
  may not be able to continue to explore our properties or operate our business
  and if either of those events happen, then there is a substantial risk our
  business would fail and investors would lose their investment in our
company.

We have not generated any revenue from our business and
we may need to raise additional funds in the future. If we are not able to
obtain future financing when required, we might be forced to discontinue our
business.

Because we have not generated any revenue from our business and
we cannot anticipate when we will be able to generate revenue from our business,
we will need to raise additional funds, if required, for the further exploration
and future development of our mining claims and to respond to unanticipated
requirements or expenses. We anticipate that we currently have sufficient funds
to cover administrative expenses for the 12 month period ending December 31,
2018 and for continued exploration. During the year ended December 2017, the
Company was able to raise enough money to advance the project without requiring
a partner. Because of these additional funds, the Company is able to take the
Turnagain project to the feasibility level as well and has raised enough
additional working capital through the issuance of shares and or debt to
continue its business through the end of 2018. We have also identified a PGE
exploration program on the Turnagain property that may require the Company to
seek additional financing or a joint venture partnership. Although we have been
successful in the past in obtaining financing through the sale of equity
securities, it is possible that we will not be able to obtain adequate financing
in the future or that the terms of such financing will be unfavorable and
unacceptable to us. Failure to obtain such additional financing is likely to
result in a delay or indefinite postponement of further exploration and
development of our projects and possible loss of our properties, in which case
our companys securities would never increase in value and investors would lose
their entire investment.

Our Articles of Incorporation indemnify our officers and
directors against all costs, charges and expenses incurred by them, which may
discourage suits against directors or officers for breaches of fiduciary duties
even though such suits, if successful, could benefit our company and our
shareholders.

Our Articles of Incorporation contain provisions limiting the
liability of our officers and directors for their acts, receipts, neglects or
defaults and for any other loss, damage or expense incurred by our company which
occurs in the execution of the duties of such officers or directors, unless the
officers or directors did not act honestly and in good faith with a view to the
best interests of our company. Such limitations on liability may reduce the
likelihood of derivative litigation against our officers and directors and may
discourage or deter our shareholders from suing our officers and directors based
upon breaches of their duties to our company, though such an action, if
successful, might otherwise benefit our company and our shareholders.

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Risks Relating to our Securities

Trading in our common shares on the Toronto Stock Venture
Exchange is limited and sporadic, making it difficult for our shareholders to
sell their shares or liquidate their investments.

Our common shares are currently listed on the TSX Venture
Exchange under the symbol GIGA. The trading price of our common shares
has been and may continue to be subject to wide fluctuations. Trading prices of
our common shares may fluctuate in response to a number of factors, many of
which are beyond our control. In addition, the stock market in general, and the
market for base metal exploration companies, including companies exploring for
nickel in particular, has experienced extreme price and volume fluctuations that
have often been unrelated or disproportionate to the operating performance of
such companies. These broad market and industry factors may adversely affect the
market price of our shares, regardless of our operating performance. If you
invest in our common shares, you could lose some or all of your investment.

In the past, following periods of volatility in the market
price of a companys securities, securities class-action litigation has often
been instituted. Such litigation, if instituted, could result in substantial
costs and a diversion of managements attention and resources.

Investors will suffer dilution in their net book value
per share if we issue additional shares, raise funds through the sale of equity
securities or issue employee/director or consultant options.

We are currently without a source of revenue and will most
likely be required to issue additional shares to finance our operations and,
depending on the outcome of our exploration programs, may issue additional
shares to finance additional exploration programs of any or all of our projects
or to acquire additional properties or through the exercise of options by our
employees, directors and consultants. If we are required to issue additional
shares to raise funds, our current shareholders interests in our company will
be diluted and our current shareholders may suffer dilution in their net book
value per share depending on the price at which such securities are sold. As at
April 30, 2018, there were outstanding an aggregate number of common share
purchase warrants and share purchase options as, upon exercise, would result in
the issue of an additional 25,358,900 of our common shares which, if exercised,
would represent approximately 41% % of our issued and outstanding common shares.
If all of these share purchase warrants and share purchase options are exercised
and these common shares are issued, such issuance also will cause a reduction in
the proportionate ownership and voting power of all other shareholders. The
dilution may result in a decline in the market price of our common shares.

We do not expect to declare or pay any dividends for the
foreseeable future, so investors will realize a return on their investment only
if the price of shares of our stock increases. There are no guarantees that this
will ever happen and investors may lose their entire investment in our
company.

We have not declared or paid any dividends on our Common Shares
since our inception, and we do not anticipate paying any such dividends for the
foreseeable future. Therefore, investors will only realize a return on their
investment if the price of our stock increases. There are no guarantees that
will ever happen and investors may never realize a return on their investment in
our company and may lose their entire investment.

All of our directors, officers and control persons live
outside of the U.S. and. investors may not be able to enforce their civil
liabilities against us, our directors officers or control persons. Therefore,
investors may be discouraged from bringing suits against our directors and
officers or may be unsuccessful even if they bring such suits. Suits against
directors or officers for breaches of fiduciary duties may be discouraged, even
though such suits, if successful, could benefit our company and our
shareholders.

It may be difficult to bring and enforce suits against us or
our directors, officers and control persons. We were incorporated under the
Company Act (British Columbia) and transitioned under the Business
Corporations Act (British Columbia) in June of 2004. All of our directors
and officers are residents of countries other than the United States and all of
our assets are located outside of the United States. Consequently, there is a
risk that Canadian courts may not enforce the judgments of U.S. courts or
enforce, in an original action, liabilities predicated on the U.S. federal laws
directly.Therefore, investors may be discouraged from bringing
suits or may be unsuccessful even if they do try.

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Some of our directors and officers are employed elsewhere
and their time and efforts will not be devoted to our company full-time.

Some of our directors and officers are employed in other
positions with other companies. They will manage our company on a part-time
basis. Because of this fact, the management of our company may suffer and our
company could under-perform or fail. Mark Jarvis, our CEO, President and
director, will devote approximately 25% of his working hours to the management
of the Company, Matthew Anderson, our Chief Financial Officer, will devote
approximately 20% of his time to the management of our company. Lyle Davis, a
director of our company, will devote approximately 10% of his working time to
the management of our company. Dr. Jon Hykawy, a director of our company, will
devote approximately 10% of his time to the Company. Phillip Robinson, a
director of our company, will spend approximately 10% to the management of the
Company. Leslie Young, the Corporate Secretary of our company, will devote
approximately 25% of her working hours, to the management of our company.

Trading of our stock may be restricted by the SEC's penny
stock regulations, which may limit a shareholder's ability to buy and sell our
stock.

The Securities and Exchange Commission has adopted regulations
which generally define "penny stock" to be any equity security that has a market
price (as defined) less than $5.00 per share or an exercise price of less than
$5.00 per share, subject to certain exceptions. Our securities are covered by
the penny stock rules, which impose additional sales practice requirements on
brokers or dealers who sell to persons other than established customers and
"accredited investors". The term "accredited investor" refers generally to
institutions with assets in excess of $5,000,000 or individuals with a net worth
in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly
with their spouse. The penny stock rules require a broker or dealer, prior to a
transaction in a penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document in a form prepared by the SEC, which
provides information about penny stocks and the nature and level of risks in the
penny stock market. The broker or dealer also must provide the customer with
current bid and offer quotations for the penny stock, the compensation of the
broker or dealer and its salesperson in the transaction and monthly account
statements showing the market value of each penny stock held in the customer's
account. The bid and offer quotations, and the broker or dealer and salesperson
compensation information, must be given to the customer orally or in writing
prior to effecting the transaction and must be given to the customer in writing
before or with the customer's confirmation. In addition, the penny stock rules
require that prior to a transaction in a penny stock not otherwise exempt from
these rules, the broker or dealer must make a special written determination that
the penny stock is a suitable investment for the purchaser and receive the
purchaser's written agreement to the transaction. These disclosure requirements
may have the effect of reducing the level of trading activity in the secondary
market for the stock that is subject to these penny stock rules. Consequently,
these penny stock rules may affect the ability of brokers or dealers to trade
our securities. We believe that the penny stock rules discourage investor
interest in and limit the marketability of our common stock. This may limit your
ability to buy and sell our stock and cause the price of the shares to decline

NASD sales practice requirements may also limit a
shareholder's ability to buy and sell our stock.

In addition to the "penny stock" rules described above, the
National Association of Securities Dealers (NASD) has adopted rules that require
that in recommending an investment to a customer, a broker or dealer must have
reasonable grounds for believing that the investment is suitable for that
customer. Prior to recommending speculative low priced securities to their
non-institutional customers, brokers or dealers must make reasonable efforts to
obtain information about the customer's financial status, tax status, investment
objectives and other information. Under interpretations of these rules, the NASD
believes that there is a high probability that speculative low priced securities
will not be suitable for at least some customers. The NASD requirements make it
more difficult for brokers or dealers to recommend that their customers buy our
common stock, which may prevent you from reselling your shares and may cause the
price of the shares to decline.

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U.S. investors could suffer adverse tax consequences if
we are characterized as a passive foreign investment company.

We may be treated as a passive foreign investment company, or
PFIC, for United States federal income tax purposes during the 2003 tax year or
in subsequent years. We may be deemed a PFIC because previous financings
combined with proceeds of future financings may produce, or be deemed to be held
to produce, passive income. Additionally, U.S. citizens should review the
section entitled Taxation-U.S. Federal Income Taxation - Passive Foreign
Investment Companies contained in this Annual Report for a more detailed
description of the PFIC rules and how those rules may affect their ownership of
our capital shares.

If we are or become a PFIC, our U.S. shareholders may be
subject to the following adverse tax consequences:

| |  | they will be taxed at the highest ordinary income tax
      rates in effect during their holding period certain distributions on our
      capital shares, and gains from the sale or other disposition of capital
      shares;
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | they will be required to pay interest on taxes allocable
      to prior periods; and                                                                                                                                            
| |  | the tax basis of our capital shares will not be increased
      to fair market value at the date of their date.                                                                                                                 

|Item 4 | Information on our Company
|------ | --------------------------

|A. | History and Development of our
    Company
|-- | ------------------------------------------

We were originally incorporated in British Columbia Canada
under the Company Act (British Columbia) on January 17, 1983, under the
name Bren-Mar Resources Limited, with an authorized capital of 50,000,000
Common Shares without par value. On March 15, 2000, we changed our name to
Bren-Mar Minerals Ltd. to reflect our change in business to strictly
exploration mining and consolidated our then issued and outstanding common
shares on the basis of 1 post-consolidation common share for 5 pre-consolidation
common shares, and we increased our post-consolidation authorized capital to
50,000,000 common shares. There were no changes in our directors or management.
On November 22, 2000, we changed our name to Canadian Metals Exploration Ltd.
to reflect the Companys focus on mineral exploration in Canada, there were no
changes in directors or management.

The Business Corporations Act (British Columbia) came
into force on March 29, 2004, repealing the Company Act(British
Columbia). Our company now operates under the Business Corporations Act
(British Columbia). On June 25, 2004, we changed our name to Hard Creek Nickel
Corporation to reflect the primary type of mineral exploration the Company is
engaged in, altered our authorized capital to comprise an unlimited number of
common shares and an unlimited number of Class A preferred shares, and adopted
our current Articles of Incorporation, which are attached as an exhibit to this
form. The previous directors and management were replaced by Mark Jarvis as CEO,
President and Director, Brian Fiddler as CFO, Leslie Young as Corporate
Secretary, George Sookochoff as Director, Tom Milner as Director and Lyle Davis
as Director.

On August 28, 2017, we changed our name to Giga Metals
Corporation and closed a capital consolidation wherein two (2) common shares of
our company were exchanged for one (1) new common share. During the year ended
December 31, 2017 both Mr. George Sookochoff and Mr. Tom Milner resigned as
directors and were replaced by Dr. Jon Hykawy and Mr. Phillip Robinson.

On April 16, 2018, the Company announced the passing of our
CFO, Mr. Brian Fiddler. On April 23, 2018, the Company announced the appointment
of Mr. Matthew Anderson as Chief Financial Officer.

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We have our head office and principal place of business at
Suite 203  700 West Pender Street, Vancouver, British Columbia V6C 1G8 Canada
(Telephone: 604.681.2300) . We do not have an agent in the United States.

Our common shares are listed on the TSX Venture Exchange under
the symbol GIGA.

Since inception, we have been engaged in natural resource
exploration and development primarily in British Columbia and, since 1996, have
focused on the Turnagain Property in the Liard Mining Division of northern
British Columbia. We first acquired the mineral claims on the Turnagain Property
in 1996 under an option agreement with John Schussler and Ernie Hatzl. The
original option agreement gave us the right to earn a 100% interest in the
mineral claims on the Turnagain Property in exchange for the issuance of 200,000
of our common shares and the expenditure of $1,000,000 on exploration of the
property within 5 years of acquisition. We have now earned the 100% interest and
it is subject to a 4% net smelter royalty on possible future production from
claim 511330. We have the right to pay out the net smelter royalty by paying
$1,000,000 for each 1% of the royalty. To pay out the entire 4% royalty, we
would be required to pay $4,000,000.

On November 28, 2002, we entered into an agreement with John
Schussler and Ernie Hatzl to acquire an additional 34 mineral claims, adjacent
to the Turnagain Property, Laird Mining Division, British Columbia, in exchange
for an aggregate total of 100,000 common shares.

Between November, 2003 and March, 2005 we staked additional
claims, enlarging the Turnagain property from 3,700 ha to approximately 27,500
ha. With claim conversions in April 2005 and November 2007, and additional
staking in 2009, the Turnagain property now covers 32,754 ha.

Present Operations of Our Company

Turnagain Property Project

Our current mineral exploration activities on the Turnagain
Property include core drilling, geological mapping, geochemical surveying,
airborne geophysical survey, downhole geophysical surveying,
baseline environmental and engineering studies, and metallurgical testing. From
2001 to December 31, 2017, we have drilled 273 core holes for a total depth of
76,367 m (250,548 feet). Approximate total exploration expenditures from January
1, 2014 to December 31, 2017 was $243,000.

As of December 31, 2017, we had $4,313,682 in working capital,
which is sufficient to cover our operating costs for the next twelve months. If
the Company is to carry out a 2018 exploration program, we may be required to
obtain additional equity funding to provide funding to cover 100% of the
anticipated costs.

The Company is planning an exploration program for the Summer
of 2018 which will include a geophysical survey, trenching and drilling. We are
also planning a metallurgical program and updating our engineering studies.

|B. | Business Overview
|-- | -----------------

Nature of Operations and Principal Activities

We are in the mineral resource business. This business
generally consists of three stages: exploration, development and production. We
are a mineral resource company in the exploration stage because we have not yet
found mineral resources in commercially exploitable quantities, and are engaged
in exploring land in an effort to discover them. Mineral resource companies that
have located a mineral resource in commercially exploitable quantities and are
preparing to extract that resource are in the development stage, while those
engaged in the extraction of a known mineral resource are in the production
stage.

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Mineral resource exploration can consist of several stages. The
earliest stage usually consists of the identification of a potential prospect
through either the discovery of a mineralized showing on that property or as the
result of a property being in proximity to another property on which exploitable
resources have been identified, whether or not they are or have in the past been
extracted.

After the identification of a property as a potential prospect,
the next stage would usually be the acquisition of a right to explore the area
for mineral resources. This can consist of the outright acquisition of the land
or the acquisition of specific, but limited, rights to the land (e.g., a
license, lease or concession). After acquisition, exploration would probably
begin with a surface examination by a prospector or professional geologist with
the aim of identifying areas of potential mineralization, followed by detailed
geological sampling and mapping of this showing with possible geophysical and
geochemical grid surveys to establish whether a known trend of mineralization
continues underground, possibly trenching in these covered areas to allow
sampling of the underlying rock. Exploration also commonly includes systematic
regularly spaced drilling in order to determine the extent and grade of the
mineralized system at depth and over a given area, as well as gaining
underground access by ramping or shafting in order to obtain bulk samples that
would allow one to determine the ability to recover various commodities from the
rock. If minerals are found, exploration might culminate in a feasibility study
to ascertain if the mining of the minerals would be economic. A feasibility
study is a study that reaches a conclusion with respect to the economics of
bringing a mineral resource to the production stage.

Our primary natural resource property is the Turnagain
Property, located in the Liard Mining Division of northern British Columbia. We
have not identified the existence of any commercially viable mineral deposits at
any of our mineral properties.

Further exploration is required before we can evaluate whether
there is a commercially viable mineral deposit that exists on any of our
properties and, if so, whether it would be economically and legally feasible to
develop or exploit those resources. Even if we complete our current exploration
program and we are successful in identifying a mineral deposit, we would be
required to spend substantial funds on further drilling and engineering studies
before we could know whether that mineral deposit will constitute a reserve (a
reserve is a commercially viable mineral deposit). Please refer to the section
entitled Risk Factors, beginning on page  of this annual report for
additional information about the risks of mineral exploration.

Revenues

To date we have not generated any revenues from any of our
properties.

Principal Market

We do not currently have any market, as we have not yet
identified any mineral resource on any of our properties that is of a
commercially exploitable quantity. If we succeed in identifying a mineral
resource in commercially exploitable quantities, our principal markets would
consist of metals refineries and base metal traders and dealers.

Seasonality of our Business

Our mineral exploration activities are subject to seasonal
variation due to the winter season in northern British Columbia. Field work is
best carried out between mid-May and late-November when day time temperatures
average 10 to 15 degrees Celsius. Our other operations, such as metallurgical
review and analysis of geochemical survey results, can be carried out all year
round.

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Sources and Availability of Raw Materials

Other than a paved highway and the small community of Dease
Lake, located 70km west of the Turnagain property, there is no infrastructure
close to the Turnagain property. A small amount of hydroelectric power is
generated near Dease Lake, to supply the town, but there is little excess
capacity. The closest suitable source of hydroelectric power for mine
development is the completed Northwest Transmission Line at Bob Quinn Lake, 207
km south along the highway. If a mineral resource is found on our Turnagain
property, on-site power generation may be required.

Patents and Licenses; Industrial, Commercial and
Financial Contracts; and New Manufacturing Processes

In conducting our business operations, we are not dependent on
any patented or license processes, technology, industrial, commercial or
financial contract or new manufacturing processes.

Competitive Conditions

The mineral exploration industry is highly competitive. We
compete with other mining companies, some of which have greater financial
resources and technical facilities, for the acquisition of mineral interests, as
well as for the recruitment and retention of qualified employees. We compete for
qualified employees with Vancouver based companies, including Hunter Dickenson
Inc., Equity Exploration and Ivanhoe Mines, and international mining companies,
including Billiton-BHP, Rio Tinto and Anglo American, among others.

Governmental Regulations

Mining operations are subject to a wide range of national and
provincial government regulations such as restrictions on production, price
controls, tax increases, expropriation of property, environmental protection,
and protection of agricultural territory or changes in conditions under which
minerals may be marketed. Mining operations may also be affected by claims of
native peoples, any of which could have the effect of reducing or preventing us
from exploiting any of our properties.

Mineral claims in British Columbia are of two types. Cell
mineral claims are established by electronically selecting the desired land on
government claim maps, where the available land is displayed as a grid pattern
of open cells, each of approximately 450-500 hectares. Payment of the required
recording fees is also conducted electronically. This process for claim staking
has been in effect since January, 2005, and is now the only way to stake claims
in British Columbia. Prior to January, 2005, legacy claims were staked by
walking the perimeter of the desired ground and erecting and marking posts at
prescribed intervals. Legacy claims, staked before January, 2005, remain valid
and may be converted into cell claims.

Cell mineral claims may be kept in good standing by incurring
assessment work or by paying cash-in-lieu of assessment work. Assessment work
requirements are $5.00 per hectare per year during the first 2 years following
the location of the mineral claims, increasing to $10.00 per hectare in the
third and fourth years, $15.00 per hectare in the fifth and sixth years and
$20.00 per hectare for all succeeding years. Cash-in-lieu of exploration and
development work is double the value of the corresponding assessment work
requirement.

We will be required to comply with all regulations, rules and
directives of governmental authorities and agencies applicable to the
exploration of minerals in the Province of British Columbia and in Canada
generally. Under these laws, prior to production, we have the right to explore
the property. We are required to file a Notice of Work and Reclamation with
the British Columbia Ministry of Energy and Mines to conduct exploration works
on mineral properties in British Columbia. To obtain a work permit, a company
may be required to post a bond. In addition, the production of minerals in the
Province of British Columbia requires prior regulatory approval.

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Our mineral claims entitle our company to continue exploration
activities on our properties, subject to our compliance with various Canadian
federal and provincial laws governing land use, the protection of the
environment and related matters.

If we locate a commercially viable mineral resource on any of
our properties, we would be required to conduct extensive community
consultations in northern British Columbia with both Aboriginal and non-
Aboriginal groups, environmental surveys both on the property and along
transportation corridors. We also would be required to develop a mining plan and
a mine closure plan. These surveys and plans would be combined into a
comprehensive Environmental Impact Statement and submitted to the British
Columbia government for review and approval. Any development or exploitation of
such a mineral resource would be subject to Canadian federal and provincial laws
governing land use, protection of the environment, occupational health, waste
disposal, toxic substances, mine safety and other matters. We had no material
costs related to compliance and/or permits in recent years, and anticipate no
material costs in the next year.

We will have to sustain the cost of reclamation and
environmental mediation for all exploration work undertaken. The amount of these
costs is not known at this time as we do not know the extent of the exploration
program that will be undertaken beyond completion of the recommended work
programs. The Company has posted $187,900 in total reclamation bonds towards the
reclamation of existing exploration drill sites and access roads on the
Turnagain property. Permits and regulations will control all aspects of any
production program if the project continues to that stage because of the
potential impact on the environment.

Our operations are subject to environmental regulations
promulgated by various levels of governments and their agencies. Existing
environmental legislation provides for restrictions and prohibitions on spills,
releases or emissions of various substances produced in association with certain
mining industry operations, such as from disposal areas, which would result in
environmental pollution. A breach of such legislation may result in the
imposition of fines and penalties. Prior to conducting exploration involving
surface disturbance in British Columbia, we are required to obtain a Work Permit
from the Ministry of Energy, Mines and Petroleum Resources. So far, we have
obtained the permits we needed to conduct our exploration program but if we are
unable to obtain the permits that we require in the future, we will have to
cease the exploration activity in question. Ceasing such exploration activities
could reduce our chances of ever discovering mineral resources on our
properties.

Where significant surface disturbance through road building and
drill site preparation is planned, the Ministry of Energy, Mines and Petroleum
Resources require a Reclamation Bond to cover the estimated reclamation costs if
we fail to complete the reclamation. From 1996 to present, we have posted
$187,900 in total reclamation bonds with the Ministry of Energy, Mines and
Petroleum Resources.

We are not aware of any existing environmental liability
associated with any of our exploration properties but if such liability should
arise, we may incur substantial costs, which would reduce the amount of money we
have to spend on exploration and could cause us to cease operations. Our
potential exposure to liability for environmental damage is high and we have no
reserves established to pay for such liability. If we are found to be liable for
a large amount of environmental damage, we are likely to have to cease
operations.

|C. | Organizational
Structure
|-- | ------------------------

We have one wholly-owned subsidiary, Canadian Metals
Exploration Ltd., incorporated under the Canada Business Corporation Act
(Canada) on July 14, 2004. This wholly-owned subsidiary is currently
inactive.

|D. | Property, Plant and
  Equipment
|-- | -------------------------------

This section summarizes the assets of the company including its
executive office in Vancouver, B.C., sample storage warehouse near Vancouver and
its most important assets, mineral exploration properties.

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The Turnagain is presently
the only material exploration property and is described below.

Our executive office is located at 203  700 West Pender
Street, Vancouver, British Columbia V6C 1G8, Canada. The Company subleases
approximately 1,000 square feet of space for $53,159 per year expiring on March
31, 2019. We sublease 50% of this space resulting in approximately $2,600 per
month in office rent. This space accommodates all of our executive and
administrative offices. We believe that this existing space is adequate for our
current needs. Should we require additional space, we believe that such space
can be secured on commercially reasonable terms.

The company has rented a warehouse near Vancouver, British
Columbia in which to store drill core samples and to prepare composite samples
for metallurgical test-work. We rent this facility for $1,500 per month on a
month to month basis. We own office, vehicle, and exploration equipment with a
cost of approximately $15,000 located at our Vancouver Office and our camp at
the Turnagain property.

Our material mineral property the Turnagain is described more
fully below:



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The Turnagain Property

This section provides a summary of the geology and exploration
activities on the Turnagain Property.

Exploration data collected during the 2003 to 2017 exploration
programs was completed under the supervision of Tony Hitchins, M.Sc., an
employee of Giga Metals Corporation.

Location and Accessibility

The Turnagain Property consists of 65 contiguous mineral claims
situated in the Liard Mining Division of northern British Columbia, 70 km east
of Dease Lake and 1,350 km north-northwest of Vancouver. The maps above indicate
where the property is located in the province of British Columbia, Canada. The
mineral claims collectively cover an area of 32,754 ha. The Turnagain Property
is situated in the Stikine Ranges of the Cassiar Mountains. Elevations range
from about 1,000 m above sea level along the Turnagain River, in the central
claim area, to 2,200 m at an unnamed summit in the north central property area.

The Turnagain Property straddles the Turnagain River near where
it is joined by Hard and Flat Creeks. The community of Dease Lake, on the
Stewart-Cassiar Highway (BC Highway 37) some 400 km north of the port of
Stewart, is 70 km west of the property. Helicopter access from Dease Lake
involves a 20 minute flight. A secondary road extending easterly from Dease Lake
has been used by large, articulated 4- and 6-wheel drive vehicles to convey
large jade boulders from the Kutcho Creek area and to supply placer gold
operations at Wheaton Creek over the past number of years. A branch of this road
network extends into the Turnagain Property with road distance to Dease Lake of
about 100 km.

A dirt airstrip, measuring approximately 930 m long,
constructed in the 1960s, and upgraded in early 2007, is situated within the
claims on the northwest side of the Turnagain River and can accommodate small
fixed wing aircraft. This airstrip is immediately adjacent to our current camp
facility and core storage. Previous exploration programs have made use of camp
facilities at Wheaton Creek (Boulder Camp), which is about 15 km by road west of
the Turnagain Property.

The communities of Terrace and Smithers, both several hundred
km south, offer a range of services and supplies which can be trucked to Dease
Lake via the Stewart-Cassiar Highway. The city of Whitehorse, Yukon Territory,
offers a similar range of services several hundred km to the northwest via the
Stewart-Cassiar Highway and the Alaska Highway (Yukon Highway 1).

The area between Dease Lake and the Turnagain Property features
maturely dissected mountains rising to elevations of between 2,000 and 2,425 m
above sea level and separated by wide, drift-filled valleys in which elevations
average 1,000 m. Forest cover, present in valley areas, is replaced by typical
alpine flora above 1,500 m. Bedrock is reasonably well exposed in the areas
above tree line and along drainages.

Description of Claims

The Turnagain Property consists of 65 contiguous mineral claims
situated in the Liard Mining Division of northern British Columbia, 70 km east
of Dease Lake and 1,350 km north-northwest of Vancouver. The mineral claims
collectively cover an area of 32,754 ha. The Turnagain Property is situated in
the Stikine Ranges of the Cassiar Mountains. Elevations range from about 1,000 m
above sea level along the Turnagain River, in the central claim area, to 2,200 m
at an unnamed summit in the north central property area. The Turnagain Property
straddles the Turnagain River near where it is joined by Hard and Flat Creeks.
The Company owns a 100% interest in all of these mineral claims subject to a 4%
net smelter royalty on possible future production on one mineral claim (Tenure
No. 511330) subject to a buyout clause of $4 million. The following table summarizes the claim
name, size, and expiry date for the 65 claims in the Turnagain Property as of
April 30, 2018

20

---

The following table shows details relating to Giga Metals
Corporations Turnagain claims and the expiry dates of those claims:

Tenure Number
    Claim Name
    Area (ha)
    Issue Date
    Expiry DateLegacy Mineral Claim407627
    PUP 4
    500.0
    2004-01-01
    2026-01-01On-line Cell Mineral Claims501131
    Drift 1
    422.0
    2005-01-12
    2024-01-12501168
    Drift 2
    421.8
    2005-01-12
    2024-01-12501234
    Drift 3
    421.7
    2005-01-12
    2024-01-12501298
    Drift 4
    421.8
    2005-01-12
    2024-01-12508218
    Dinah 1
    407.2
    2005-03-03
    2019-03-03508219
    Dinah 2
    407.1
    2005-03-03
    2019-03-03508221
    Dinah 3
    406.9
    2005-03-03
    2019-03-03508222
    Dinah 4
    406.0
    2005-03-03
    2019-03-03508223
    Dinah 5
    407.1
    2005-03-03
    2019-03-03508225
    Dinah 6
    407.1
    2005-03-03
    2019-03-03508226
    Dinah 7
    254.6
    2005-03-03
    2019-03-03508227
    Dinah 8
    407.3
    2005-03-03
    2019-03-03508228
    Dinah 9
    135.5
    2005-03-03
    2019-03-03508229
    Dinah 10
    203.4
    2005-03-03
    2019-03-03528780
    T1
    67.7
    2006-02-23
    2019-02-23528781
    T2
    203.3
    2006-02-23
    2019-02-23528782
    T3
    152.6
    2006-02-23
    2019-02-23528784
    T4
    288.3
    2006-02-23
    2019-02-23528787
    T5
    169.6
    2006-02-23
    2019-02-23528788
    T6
    270.2
    2006-02-23
    2024-02-23528789
    T7
    422.5
    2006-02-23
    2019-02-23528790
    T8
    253.6
    2006-02-23
    2019-02-23


Converted Legacy to On-line Cell
    Mineral Claims (April 2005 and November 2007)503365
    Hard 2
    793.3
    2005-02-14
    2024-02-18510889
    Flat 10, 13, 15
    1627.9
    2005-04-18
    2019-04-07510892
    Flat 2, 6
    1219.3
    2005-04-18
    2019-04-07510910
    Flat 9, 12, 14
    1424.3
    2005-04-18
    2019-04-07510911
    Flat 1, 5
    1066.9
    2005-04-18
    2024-04-07510912
    Flat 8, 11
    779.9
    2005-04-18
    2019-04-07


21

---

|511214 | Hard 4, 6             | 979.9  | 2005-04-20 | 2019-02-18
|------ | --------------------- | ------ | ---------- | ----------
|511226 | Hill 1, 2             | 1216.1 | 2005-04-20 | 2019-02-18
|511227 | Hill 3                | 506.7  | 2005-04-20 | 2019-02-17
|511230 | Hill 4, 5             | 760.5  | 2005-04-20 | 2024-02-17
|511234 | Hill 6                | 185.9  | 2005-04-20 | 2019-02-16
|511244 | Hard 5,7              | 489.9  | 2005-04-20 | 2019-02-18
|511251 | Hard 8                | 473.4  | 2005-04-20 | 2024-02-17
|511257 | Hill 9, 10            | 1014.4 | 2005-04-20 | 2024-02-17
|511279 | Hard 9, 10            | 896.7  | 2005-04-20 | 2019-02-17
|511304 | Hill 7, 8             | 1149.7 | 2005-04-21 | 2024-02-17
|511305 | Hound 3               | 271.0  | 2005-04-21 | 2024-09-27
|511306 | Turn 2, Flat 7        | 881.2  | 2005-04-21 | 2019-02-19
|511329 | Hound 1, 2            | 1015.4 | 2005-04-21 | 2024-09-27
|511330 | Cub                   | 592.6  | 2005-04-21 | 2021-12-01
|511337 | Cub 10, 18, Pup 1     | 1065.8 | 2005-04-21 | 2018-12-01
|511340 | Cub 17                | 253.9  | 2005-04-21 | 2018-12-01
|511344 | Turn 1, Bear 2        | 271.0  | 2005-04-21 | 2019-02-19
|511347 | Flat 3, 4             | 474.3  | 2005-04-21 | 2019-04-07
|511348 | Cub 2                 | 389.4  | 2005-04-21 | 2021-12-01
|511586 | Pup 2                 | 236.9  | 2005-04-25 | 2019-01-01
|511593 | Pup 3                 | 101.5  | 2005-04-25 | 2021-12-01
|511627 | Cub 11                | 592.1  | 2005-04-25 | 2018-12-01
|511628 | Hard 1                | 709.0  | 2005-04-25 | 2024-02-18
|511629 | Hard 3                | 472.9  | 2005-04-25 | 2024-02-18
|570454 | Bear 1                | 456.8  | 2007-11-22 | 2019-05-26
|570455 | Bear 19, Bear 21 to28 | 237.0  | 2007-11-22 | 2019-05-26
|570456 | Bear 3 to 18          | 220.2  | 2007-11-22 | 2019-05-26
|570457 | Bear 20               | 16.9   | 2007-11-22 | 2019-05-26
|609390 | FLAT 7                | 254.6  | 2009-07-21 | 2018-09-20
|609394 | FLAT 6                | 407.4  | 2009-07-21 | 2018-09-20
|609396 | FLAT 8                | 203.8  | 2009-07-21 | 2018-09-20
|609397 | FLAT 5                | 407.4  | 2009-07-21 | 2018-09-20
|609398 | FLAT 4                | 407.4  | 2009-07-21 | 2018-09-20
|609403 | FLAT 3                | 407.3  | 2009-07-21 | 2018-09-20
|609423 | FLAT 2                | 407.3  | 2009-07-21 | 2018-09-20
|609424 | FLAT 1                | 424.2  | 2009-07-21 | 2018-09-20

22

---

The following figure shows the claims for the Turnagain
property listed above.



Exploration History

Nickel and copper sulphides were discovered within the current
Turnagain property area in a bedrock exposure along the Turnagain River in 1956.
Mineral claims covering the area where these sulphides were found as well as
other traces of sulphides were acquired by Falconbridge Nickel Mines Limited in
1966.

Falconbridge Nickel Mines Limited also completed work over the
following seven years, including surface and airborne geophysical surveys,
geological mapping, geochemical surveys and 2,895 m of conventional and packsack
diamond drilling in 40 widely spaced drill holes.

Our Turnagain Property represents a unique style of sulphide
mineralization associated with a zoned, ultramafic complex (a suite of rocks
high in iron and magnesium but low in silica.) Iron and nickel sulphides are
widespread in dunite (ultramafic rock comprising more than 90% olivine) and
wehrlite (ultramafic rock comprising less than 90% olivine and >10% pyroxene)
near dunite-wehrlite contacts.

23

---

Exploration on the Turnagain Property between 1967 and 2002 was
sporadic and was concentrated in the Horsetrail area or near other small
exposures of net-textured sulphides. We acquired the property in 1996.

Work Completed by the Registrant

We acquired the Turnagain Property in 1996 and our exploration
work that year included 400 line km of airborne magnetic surveys and 795.5 m of
diamond drilling in 5 holes. Additional diamond drilling completed by our
company in 1997 and 1998 amounted to 3,123m in 14 holes. Related work included
18 line km of surface magnetic surveys covering two areas of the property, bore
hole pulse-electromagnetic surveys in four of the 1997-1998 drill holes and
preliminary metallurgical test work on drill core composites.

In 2002, we performed ground magnetic and induced polarization
geophysical surveys over part of the claim area and completed 1,687m of diamond
drilling in 7 holes. Exploratory work in 2003 included geological mapping and
prospecting with bedrock, stream sediment and limited soil sampling and 8,669 m
of diamond drilling in 22 holes, including the deepening of one hole started in
2002. Preliminary metallurgical test work was conducted on composite 2002-2003
core samples.

In 2004, we conducted a comprehensive exploration program that
included a helicopter borne magnetic and electromagnetic survey covering 1,866
line km, 14 km of ground magnetic and electromagnetic surveys, 1:20,000 scale
aerial photography of the entire property, the collection of more than 3,000
geochemical soil samples, geological mapping, and 7522 m of diamond drilling in
49 holes. We analyzed the approximately 4,000 core samples for 30 elements
including nickel, copper, cobalt, sulphur and often platinum and palladium.
Extensive metallurgical test work has been completed on 2003-2004 composite core
samples and also on 2005-2006 composite core samples.

Our 2005 exploration program consisted of geological mapping,
bedrock and soil sampling, and 7,143 m of diamond drilling in 37 holes. We also
undertook various mineralogical, environmental baseline surveys, engineering,
metallurgical and analytical studies on the property.

Our 2006 exploration program was completed by early November
and included 19,111 m of diamond drilling in 68 holes, surface mapping and
sampling in several areas and continuation of fish habitat surveys and water
sampling. Metallurgical test-work on composite samples from our 2005 and 2006
drill core was also completed during 2007.

Our 2007 exploration program was completed by early November
and included 24,325 m of diamond drilling in 72 holes, surface mapping and
sampling in several areas and continuation of fish habitat surveys and water
sampling. Metallurgical test-work was directed towards further definition of the
reagent scheme and nickel flotation kinetics for future pilot plant testing.

Our 2008 exploration program was completed by early September
and included 4,105 m of diamond drilling in 15 holes, surface mapping and
sampling in several areas and continuation of fish habitat surveys and water
sampling. Metallurgical test-work continued towards further definition of the
reagent scheme and nickel flotation kinetics for future pilot plant testing.

In 2009 we developed an extensive electronic relational drill
hole database, initiated metal leaching tests on site, and continued with
baseline water sampling. Metallurgical test-work continued towards further
definition of the reagent scheme and nickel flotation kinetics for future pilot
plant testing. A small pilot plant test was conducted and a range of
concentrates collected to develop potential hydrometallurgical refining
processes. These concentrates were used for completion of amenability testing of
the Activox® process in Perth Australia and the Outotec Nickel Chloride Leach in
Pori Finland.

24

---

In 2010 the focus was primarily on the geological and
mineralization model refinement and metallurgical test-work rather than the
traditional field work exploration programs.

In December 2011, the Company received the Turnagain Project
Preliminary Economic Assessment (PEA) prepared by AMC Mining Consultants
(Canada) Ltd. The complete PEA was filed on SEDAR on December 5, 2011, this
technical report is also available on the Company's website www.gigametals.com
under the heading "Projects".

During the years ended December 31, 2012 - 2017, the Company
focused on finding a partner to take the Turnagain project to the feasibility
level, reviewed possible opportunities for reducing the overall project capital
costs and identified a PGE exploration program on the Turnagain property. During
2017, the Company was able to raise enough money to advance the project without
requiring a partner.

|Item 5 | Operating and Financial Review and
      Prospects
|------ | --------------------------------------------------

The following discussion and analysis should be read in
conjunction with the consolidated financial statements and notes thereto
included herein (see also "Selected Financial Data"). The consolidated financial
statements have been prepared in accordance with International Financial
Reporting Standards (IFRS).

|A. | Operating Results
|-- | -----------------

Our results of operations have been, and may continue to be,
affected by many factors of a global nature, including economic and market
conditions, the availability of capital, the level and volatility of prices and
interest rates, currency values, commodities prices and other market indices,
technological changes, the availability of credit, inflation and legislative and
regulatory developments. Factors of a local nature, which include the political,
social, financial and economic stability, the availability of capital,
technology, workers, engineers and management, geological factors and weather
conditions, also affect our results of operations. See Key Information  Risk
Factors. As a result of the economic and competitive factors discussed above,
our results of operations may vary significantly from period to period.

Year Ended December 31, 2016 Compared to Year Ended December
31, 2017

General and Administrative - During the year ended December 31,
2017 (2017), the Company incurred a loss of $683,299 ($0.03 per share)
compared to a loss of $224,112 ($0.01 per share) during the year ending December
31, 2016. The administrative expenses for 2017 were $637,610, up from $196,321
from 2016. Total administrative expenses include two non-cash expenses,
amortization and stock-based compensation. These amounts were $1,713 (2016:
$2,968) and $360,493 (2016: $42,831) in 2017, respectively. Excluding non-cash
expenses, the 2017 administrative expenses were $327,368 up from $150,522 in
2016. Office and general expenses in 2017 were $123,067 (2016: $75,111), an
increase of $47,956. Investor relations in 2017 was $33,429 (2016: $12,540), an
increase of $20,889. Legal and audit in 2017 was $21,167 (2016: $18,178) an
increase of $6,039. Management fees in 2017 was $53,600, up $35,600 from the
$18,000 incurred in 2016. Excluding amortization and stock-based compensation,
the total general and administrative expenses for 2017 were approximately
$27,000 per month compared to $13,000 per month in 2016. During 2017, the
Company earned $6,275 from interest income compared to $1,302 for 2016. The
increase in expenditures during 2017 was due to increased business activity
after completion of financing activities in October, November and December 2017.

Exploration - During the year ended December 31, 2017, the
Company incurred expenditures on exploration and evaluation assets of $51,964
(2016: $29,093). The Company has been expensing all exploration costs since the
Turnagain project was written down to $1 on December 31, 2015.

25

---

Year Ended December 31, 2015 Compared to Year Ended December
31, 2016

General and Administrative - During the year ended December 31,
2016 (2016), the Company incurred a net loss of $224,112 ($0.01 per share)
compared to a net loss of $10,230,524 ($1.13 per share) during the year ending
December 31, 2015. The administrative expenses for 2016 were $196,321, up from
$178,242 from 2015. Total administrative expenses includes two non-cash
expenses, amortization and stock-based compensation, these amounts were $2,968
(2015: $3,876) and $42,831 (2015: $Nil) in 2016, respectively. Excluding
amortization, the 2016 administrative expenses were $150,522 down from $174,366
in 2015. Office and general expenses in were $101,804 (2015: $101,559), an
increase of $245. Investor relations in 2016 were $12,540 (2015: $15,263), a
decrease of $2,723, legal and audit in 2016 were $18,178 (2015: $19,544) a
decrease of $1,366. Management fees in 2016 were $18,000, down $20,000 from the
$38,000 incurred in 2015. Excluding amortization and stock-based compensation,
the total general and administrative expenses for 2016 were approximately
$12,550 per month compared to $14,530 per month in 2015.

At December 31, 2016 the Company impaired the Turnagain mineral
claims by $29,093 (2015: $10,055,858) to $1 based on the current nickel prices,
the global over-supply of nickel held in inventories and the weaker than
expected Chinese and European demand. During 2016, the Company earned $1,302
from interest income compared to $3,576 for 2015.

Exploration - During the year ended December 31, 2016, the
Company incurred expenditures on exploration and evaluation assets of $29,093
(2015: $69,699). The exploration expenditures for 2016 were approximately $2,425
per month compared to $5,800 per month in 2015. In June 2015, the Company
received $150,000 from the return of one of its reclamation deposits.

|B. | Liquidity and Capital
  Resources
|-- | ---------------------------------

Since the Company is organized in Canada, the Companys
December 31, 2017 consolidated financial statements have been prepared in
accordance with IFRS.

As at December 31, 2017, our company had accumulated losses
totaling $55,479,647. The Company does not have any source of external liquidity
such as bank loans or lines of credit to draw upon and relies on private
placement funding and the exercise of share purchase warrants to fund ongoing
operations and exploration programs.

As at December 31, 2017 the Company had cash and cash
equivalents of $4,066,588 and working capital of $4,313,682.

As of April 30, 2018, we had sufficient working capital to
cover our 2018 operating costs and our 2018 exploration program.

The Companys treasury policies are to receive cash in advance
of any issuance of commons shares through private placements or the exercise of
share purchase warrants or stock options, issue the common shares in a timely
manner and invest any excess cash in an interest bearing redeemable term
deposit. These treasury policies are controlled by the board of directors and
reviewed by the audit committee on an annual basis.

All cash and cash equivalents are held in Canadian dollars.

26

---

|C. | Research and Development, Patents and Licenses,
      etc.
|-- | ----------------------------------------------------------

Not applicable.

|D. | Trend Information
|-- | -----------------

Since the company is a mineral exploration company, we do not
currently know of any trends, uncertainties, demands, commitments or events that
are reasonably likely to have a material effect on our net sales or revenue,
income from continuing operations, profitability, liquidity or capital
resources, or that would cause reported financial information not necessarily to
be indicative of future operating results or financial condition.

|E. | Off-Balance Sheet
  Arrangements
|-- | --------------------------------

Not applicable.

|F. | Tabular Disclosure of Contractual
      Obligations
|-- | ---------------------------------------------------

Not applicable.

Critical Accounting Policies and Estimates

Basis of preparation and accounting policies

The consolidated financial statements of the Company comply
with International Financial Reporting Standards (IFRS) as issued by the
International Accounting Standards Board (IASB) and interpretations of the
International Financial Reporting Interpretations Committee (IFRIC).

There were no changes to the accounting policies applied by our
company to each of the 2017 quarterly unaudited interim consolidated financial
statements, to those applied to the consolidated financial statements for the
year ended December 31, 2017.

Critical Accounting Estimates

As at December 31, 2017, the Companys financial statements
reflect Exploration and evaluation assets with a balance of $1. The
recoverability of this amount is dependent upon the discovery of economically
recoverable reserves, and the ability to attain future profitable production
from those reserves, or from their successful disposition. The Company has not
determined if its properties contain ore reserves that are economically
recoverable.

Income taxes

Preparation of the consolidated financial statements involves
determining an estimate of, or provision for, income taxes. The process also
involves making an estimate of taxes currently payable and taxes expected to be
payable or recoverable in future periods, referred to as deferred taxes.
Deferred taxes result from the effects of temporary differences due to items
that are treated differently for tax and accounting purposes. The tax effects of
these differences are reflected in the consolidated balance sheet as deferred
tax assets and liabilities. An assessment must also be made to determine the
likelihood that the Companys future taxable income will be sufficient to permit
the recovery of deferred tax assets. To the extent that such recovery is not
probable, recognized deferred tax assets must be reduced to the recoverable
amount. Judgement is required in determining the provision for income taxes and
recognition of deferred tax assets and liabilities. Management must also
exercise judgement in its assessment of continually changing tax
interpretations, regulations and legislation, to ensure deferred tax assets and
liabilities are complete and fairly presented. The effects of differing
assessments and applications could be material.

27

---

Future Accounting Changes

Accounting standards issued but not yet effective

New standard IFRS 9 Financial Instruments is a partial
replacement of IAS 39 Financial Instruments: Recognition and Measurement. IFRS
9 uses a single approach to determine whether a financial asset is measured at
amortized cost or fair value, replacing the multiple rules in IAS 39. The
approach in IFRS 9 is based on how an entity manages its financial instruments
in the context of its business model and the contractual cash flow
characteristics of the financial assets.

The new standard also requires a single impairment method to be
used, replacing the multiple impairment methods in IAS 39. IFRS 9 is effective
for annual periods beginning on or after January 1, 2018. The Company does not
expect the adoption of IFRS 9 to have a material effect on the financial
statements.

IFRS 16 Leases replaces IAS 17 Leases and the related
interpretative guidance. IFRS 16 applies a control model to the identification
of leases, distinguishing between a lease and a service contract on the basis of
whether the customer controls the asset being leased. For those assets
determined to meet the definition of a lease, IFRS 16 introduces significant
changes to the accounting by lessees, introducing a single, on-balance sheet
accounting model that is similar to current finance lease accounting, with
limited exceptions for short-term leases or leases of low value assets. Lessor
accounting is not substantially changed. The standard is effective for annual
periods beginning on or after January 1, 2019, with early adoption permitted for
entities that have adopted IFRS 15. The Company has not yet assessed the future
impact of this new standard on its financial statements.

Other accounting standards or amendments to existing accounting
standards that have been issued but have future effective dates are either not
applicable or are not expected to have a significant impact on the Companys
consolidated financial statements.

|Item 6 | Directors, Senior Management and
      Employees
|------ | ------------------------------------------------

|A. | Directors and Senior
  Management
|-- | ---------------------------------

The following table sets forth the names, business experience
and function/areas of expertise of each of our directors and officers:

Name Office Held Age
    Area of Experience
    and Functions in Our CompanyMark JarvisDirector and Chief
      ExecutiveOfficerAge: 63
    Mr. Jarvis has been a director of our company and our
      Chief Executive Officer since January of 2004. As Chief Executive Officer,
      Mr. Jarvis is responsible for the development of our strategic direction
      and the management and supervision of our overall business. As director,
      Mr. Jarvis is responsible for the corporate governance of our company.Lyle DavisDirectorAge: 61
    Mr. Davis was a director of our company in November of
      2003 for a short period of time. He was later elected again as a director
      of our company in June of 2004. In July 2008, Mr. Davis became Chairman of
      the Board, responsible for the management and supervision of our board of
      directors. As director, Mr. Davis is responsible for the corporate
      governance of our company.Dr. Jon HykawyDirectorAge: 53
    Dr. Hykawy was appointed as a director of our company in
      October 2017. As a director, Dr. Hykawy is responsible for the corporate
      governance of our company.Phillip RobinsonDirector Age:29
    Mr. Robinson was appointed as a director of our company
      in October 2017. As a director, Mr. Robinson is responsible for the
corporate governance of our company.Matthew Anderson Chief Financial Officer Age:
      35
    Mr. Anderson has served as our controller and Chief
      Financial Officer since April of 2018. As Controller and Chief Financial
      Officer, Mr. Anderson is responsible for the financial and corporate
      management and supervision of the affairs and business of our company.Leslie Young Corporate Secretary Age: 59
    Ms. Young was appointed as our corporate secretary in
      June of 2004. As Corporate Secretary, Ms. Young is responsible for the
      internal accounting and record keeping, general administration, and making
      all necessary filings and financial reporting for our company.


28

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Mark Jarvis  Director and Chief Executive
Officer

Mr. Jarvis has considerable experience in the financing and
operations of public companies, primarily in exploration and production of
mining and oil and gas projects. After a career in financing exploration
projects as a stockbroker, Mr. Jarvis moved to the corporate side of the
business by joining the Board of Ultra Petroleum, at the time a small oil and
gas exploration and development company, in 1996. As Director responsible for
Corporate Finance, he raised the equity capital necessary for proof of concept
and to establish enough production to leverage further growth through debt
financing. Ultras Pinedale Anticline project ultimately grew to three (3)
trillion cu. ft. of proved gas reserves. Mr. Jarvis has held the position of CEO
and President of Giga Metals Corporation (formerlyHard Creek Nickel
Corporation) since January 7th 2004. During his tenure the Company has drilled a
very large nickel/cobalt deposit, worked out a reliable metallurgical circuit
and published a 43-101 compliant Preliminary Economic Assessment.

Lyle Davis - Director

Mr. Davis was a director of our company in November of 2003 for
a short period of time. He waselected
as a director of our company in June of 2004. Mr. Davis
has an M.B.A. from the University of British Columbia with a major in finance, a
Bachelor of Applied Science in Civil Engineering from Queens University,and is
a member of the Association of Professional Engineers and Geoscientists of
Alberta. Mr. Davis is the President and CEO of Condor Resources Inc. (since
2013) and is a director of Earl Resources Limited. From 1999 until 2008, Mr.
Davis was the President of Ellardee Group Capital Inc. a firm providing business
consulting services, primarily for public companies. He previously worked in the
corporate finance practices of Ernst & Young, an accountancy firm, and in a
similar capacity at C.M. Oliver, a brokerage firm. Before that, Mr. Davis was
with the Vancouver Stock Exchange where he was responsible for trading
operations during the transition from floor based to screen based trading, prior
to which he was a senior member of the VSEs corporate finance division.

Dr. Jon Hykawy  Director

Dr. Hykawy has been a director of our company since October of
2017. Dr. Hykawy has made battery materials a key part of his research focus
since 2009, when he helped found Byron Capital Markets, a boutique brokerage
operation. His current business, Stormcrow Capital Limited, consults with
various clients who are involved in critical materials. He is widely quoted on
battery materials such as cobalt and is an invited speaker at many conferences
around the world.

Phillip Robinson  Director

Mr. Robinson was appointed director of our company in October
2017. Mr. Robinson is a member of the Investment Team at Pala Investments, a
Swiss based mining focused multi-strategy investment firm, and is focused on New
Energy Metals investing. He was integral to the development of Pala's battery
metal raw materials strategy and has in-depth knowledge of the electric vehicle
and energy storage markets. He also worked on the recent IPO of Cobalt 27
Capital Corp. on the TSX-V.

29

---

Matthew Anderson  Chief Financial Officer

Mr. Anderson has served as our controller and Chief Financial
Officer since April 2018. Mr. Anderson completed his bachelors of commerce
degree at McGill University in Montreal. He earned his CPA, CA accreditation in
2008 after which he began providing accounting and CFO services to junior public
companies primarily involved in the natural resource sector. He has extensive
experience in financial and accounting related functions based on his experience
working with a number of junior public companies. His business experience
includes mining, oil and gas and technology. He is a member in good standing of
the Chartered Professional Accountants Association of British Columbia.

Leslie Young  Corporate Secretary

Ms. Young was appointed as our corporate secretary in June of
2004. Ms. Young has previous experience working in brokerage firms, beginning
with C.M. Oliver and most recently with Raymond James from 1999 to 2004. She has
had experience in operations and executive administration.

There are no family relationships between any of our executive
officers or directors of our company. There are no arrangements or
understandings with major shareholders, customers, suppliers or others pursuant
to which any person referred to above was selected as a director or executive
officer.

|B. | Compensation
|-- | ------------

The following table sets out the compensation provided to our
directors and senior management for performance of their duties during the
fiscal year ended December 31, 2017:

SUMMARY COMPENSATION
    TABLEName and
      principalposition
    Year
    Salary
      ($)
    Share-
      based awards ($)
    Option-
      based awards ($)
    Non-equity incentive compensation
      plan compensation ($)
    Pension
      value ($)
    All
      other **Compen-**
      **sation**($)
    Total
    Compen -sation ($)**Annual** **incentive**
      **plans**
    **Long-****term**
    **incentive** **plans**Mark Jarvis Director and Chief Executive
      Officer
    2017
    14,000
    Nil
    Nil
    Nil
    Nil
    Nil
    551
    14,000Lyle Davis Director
    2017
    Nil
    Nil
    21,253
    Nil
    Nil
    Nil
    Nil
    21,253Dr. Jon Hykawy Director
    2017
    Nil
    Nil
    13,826
    Nil
    Nil
    Nil
    Nil
    13,826Phillip Robinson Director
    2017
    Nil
    Nil
    56,263
    Nil
    Nil
    Nil
    Nil
    56,263Tom Milner
      Former Director
    2017
    2,500
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    2,500Brian Fiddler 
      Former Controller and Chief
      Financial Officer
    2017
    21,200
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    21,200Leslie Young Corporate Secretary
    2017
    18,400
    Nil
    Nil
    Nil
    Nil
    Nil
    Nil
    18,400


30

---

Our company does not have any pension or retirement plans, nor
does our company compensate its directors and officers by way of any material
bonus or profit sharing plans. Directors, officers, employees and other key
personnel of our company may be compensated by way of stock options.

|C. | Board Practices
|-- | ---------------

The election and retirement of directors are provided for in
our Articles. An election of directors shall take place at each annual meeting
of shareholders and all the directors then in office shall retire but, if
qualified, shall be eligible for re-election. A director shall retain office
only until the election of his successor. The number of directors to be elected
at such meeting shall be the number of directors then in office unless the
directors or the shareholders otherwise determine. The election shall be by
ordinary resolution of shareholders. If an election of directors is not held at
the proper time, the incumbent directors shall continue in office until their
successors are elected.

Our Articles also permit the directors to add additional
directors to the board between annual general meetings so long as the number
appointed does not exceed more than one-third of the number of directors elected
at the last annual general meeting. Individuals appointed as directors to fill
casual vacancies created on the board or added as additional directors hold
office like any other director until the next annual general meeting at which
time they may be re-elected or replaced.

The members of our companys audit committee include Lyle
Davis, Dr. Jon Hykawy and Phillip Robinson. The audit committee reviews and
approves the scope of the audit procedures employed by our independent auditors,
reviews the results of the auditors examination, the scope of audits, the
auditors opinion on the adequacy of internal controls and quality of financial
reporting, if applicable, and our accounting and reporting principles, policies
and practices, as well as our accounting, financial and operating controls. The
audit committee also reports to the board of directors with respect to such
matters and recommends the selection of independent auditors. Before financial
statements that are to be submitted to the shareholders at an annual general
meeting are considered by the board of directors, such financial statements are
submitted to the audit committee for review with the independent auditors,
following which the report of the audit committee on the financial statements is
submitted to the board of directors.

We currently do not have a remuneration or compensation
committee.

|D. | Employees
|-- | ---------

As of December 31, 2017, we had three part-time employees,
including two of our officers. We do not have any relationship with any labor
unions.

|E. | Share Ownership
|-- | ---------------

There were 42,024,015 Common Shares issued and outstanding as
of April 30, 2018. Of the shares issued and outstanding, warrants held and stock
options granted, our directors and officers owned the following Common Shares as
of April 30, 2018:

Name
    Number of
      Common Shares Beneficially Owned as of April 30, 2018
    Percentage(1)Mark Jarvis
    3,620,415 (2)
    5.1%Lyle Davis
    276,000(3)
    0.4%Dr. Jon Hykawy
    175,000(4)
    0.2%Phillip Robinson
    175,000(5)
    0.2%Matthew Anderson
    100,000(6)
    0.1%Leslie Young
    206,380(7)
    0.3%




---

| | (1) | Based on 42,024,015  Common Shares issued and outstanding as at
      April 30, 2018, and the number of shares issuable upon the exercise of
      issued and outstanding stock options and warrants which are exercisable
  within 60 days of April 30, 2018.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (2) | Includes stock options to purchase up to 325,000 of our
      Common Shares at an exercise price of $0.10 - $0.55 per share expiring up
      to February 5, 2023                                                                                             
| | (3) | Includes stock options to purchase up to 275,000 of our
      Common Shares at an exercise price of $0.10 - $0.55 per share expiring up
      to February 5, 2023                                                                                             
| | (4) | Includes stock options to purchase up to 175,000 of our
      Common Shares at an exercise price of $0.22 - $0.55 per share expiring up
      to February 5, 2023                                                                                             
| | (5) | Includes stock options to purchase up to 175,000 of our
      Common Shares at an exercise price of $0.55 - $0.80 per share expiring up
      to February 5, 2023                                                                                             
| | (6) | Includes stock options to purchase up to 100,000 of our
      Common Shares at an exercise price of $0.55 - $0.60 per share expiring up
      to April 20, 2023.                                                                                              
| | (7) | Includes stock options to purchase up to 200,000 of our
      Common Shares at an exercise price of $0.10 - $0.55 per share expiring up
      to February 5, 2023                                                                                             

A total of ten percent (10%) of the common shares of our
company, outstanding from time to time, are reserved for the issuance of stock
options pursuant to our companys Incentive Stock Option Plan.

|Item 7 | Major Shareholders and Related Party
      Transactions
|------ | -------------------------------------------------------

|A. | Major Shareholders
|-- | ------------------

The following table sets forth, as of April 30, 2018, the only
person known to us to be the beneficial owner of more than five (5%) of our
Common Shares:

Name of Shareholder
    No. of
      Common Shares Owned
    Percentage
      of Outstanding Common Shares(1)Mark Jarvis
    3,620,415 (2)
5.1%


|(1) | Based on 42,024,015 Common Shares issued and outstanding
      as at April 30, 2018, and the number of shares issuable upon the exercise
      of issued and outstanding stock options and warrants which are exercisable
      within 60 days of April 30, 2018.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2) | Includes stock options to purchase up to 325,000 of our
      Common Shares at an exercise price of $0.10 - $0.55 per share expiring up
      to February 5, 2023.                                                                                               

To the best of our knowledge, our company is not directly or
indirectly owned or controlled by another corporation, by any foreign government
or by any other natural or legal person.

There are no arrangements known to us, the operation of which
may at a subsequent date result in a change in the control of our company.

|B. | Related Party
Transactions
|-- | --------------------------

The following sets forth all material transactions and loans
from January 1, 2016 to the current date between our company and: (a)
enterprises that directly or indirectly through one or more intermediaries, control or are controlled by, or are under common control with,
our company; (b) associates; (c) individuals owning, directly or indirectly, an
interest in the voting power of our company that gives them significant
influence over our company and close members of any such individuals families;
(d) key management personnel of our company, including directors and senior
management of our company and close members of such individuals families; and
(e) enterprises in which a substantial interest in the voting power is owned,
directly or indirectly, by any person described in (c) or (d) or over which such
a person is able to exercise significant influence. For the purposes of this
section, shareholders beneficially owning a 10% interest in the voting power of
our company are presumed to have a significant influence:

32

---

Related party transactions

The Company incurred the following transactions with directors,
officers and companies that are controlled by directors of the Company.

|                         |  | Year ended   | 
|------------------------ |  | ------------ | 
|                         |  | December 31, | 
|                         |  | 2017         | 
|                         |  | **$**        | 
|Consulting fees          |  | 2,500        | 
|Interest expense         |  | 551          | 
|Management fees          |  | 53,600       | 
|Stock-based compensation |  | 41,163       | 
|                         |  | 97,814       | 

|C. | Interests of Experts and
  Counsel
|-- | ----------------------------------

Not required.

|Item 8 | Financial Information
|------ | ---------------------

|A. | Consolidatedand Other Financial
      Information
|-- | -------------------------------------------------

See Item 18 and our consolidated financial statements and
accompanying notes.

|B. | Significant Changes
|-- | -------------------

Our company is not aware of any significant change since
December 31, 2017 that is not otherwise reported in this filing.

|Item 9 | The Offer and Listing
|------ | ---------------------

|A. | Common Share Trading
Information
|-- | --------------------------------

Price History

Full Financial Years (five most recent financial years)

The annual high and low market prices for the five most recent
full financial years (years ended December 31, 2013 through to December 31,
2017) on the TSX Venture Exchange prior to September 19, 2008, and the TSX
Venture Exchange September 19, 2008 and afterwards were as follows:



33

---

**Year Ended**
    High
Low31-Dec-13
    $0.16
    $0.0431-Dec-14
    $0.12
    $0.0431-Dec-15
    $0.12
    $0.0231-Dec-16
    $0.10
    $0.0231-Dec-17
    $0.92
    $0.05


Full Financial Quarters (two most recent financial years)

The high and low market prices for each full financial quarters
for the two most recent full fiscal years on the TSX Venture Exchange were as
follows:

Quarter
      Ended
    High
    Low31-Mar-16
    $0.04
    $0.0230-Jun-16
    $0.10
    $0.0430-Sep-16
    $0.10
    $0.0631-Dec-16
    $0.08
    $0.0431-Mar-17
    $0.20
    $0.0530-Jun-17
    $0.12
    $0.0630-Sep-17
    $0.38
    $0.0631-Dec-17
    $0.92
$0.29


The high and low market prices for the most recent six months
on the TSX Venture Exchange is as follows:

Month Ended
    High
    Low31-Oct-17
    $0.73
    $0.3030-Nov-17
    $0.92
    $0.6131-Dec-17
    $0.77
    $0.5231-Jan-18
    $0.77
    $0.4529-Feb-18
    $0.50
    $0.35531-Mar-18
    $0.40
$0.30


We have no principle trading market outside of our host market,
the TSX Venture Exchange.

|B. | Plan of
Distribution
|-- | --------------------

Not Applicable.

|C. | Markets
|-- | -------

34

---

Our common shares trade on the Toronto Stock Exchange. Our
symbol is GIGA and our CUSIP number is 37518K102.

|D. | Selling
Shareholders
|-- | --------------------

Not Applicable.

|E. | Dilution
|-- | --------

Not Applicable.

|F. | Expenses of the
Issues
|-- | ----------------------

Not Applicable.

|Item 10 | Additional Information
|------- | ----------------------

|A. | Share Capital
|-- | -------------

Not required.

|B. | Articles of Incorporation and
  By-laws
|-- | ---------------------------------------

Incorporation

We were incorporated under the Company Act(British
Columbia) on January 17, 1983. The Company Act(British Columbia) was
repealed on March 29, 2004 when the Business Corporations Act (British
Columbia) came into force. Accordingly, on June 15, we filed a transition
application under the Business Corporations Act (British Columbia) and
received the incorporation number 259067. We filed our Notice of Articles, which
replaced our Memorandum of Incorporation, with the Registrar of Companies of
British Columbia together with our transition application. A copy of our Notice
of Articles may be obtained from the Registrar of Companies of British Columbia
or from our corporate solicitors, Clark Wilson LLP, Suite 800  885 West Georgia
Street, Vancouver, B.C. V6C 3H1. On June 25, 2004, we adopted our current
Articles of Incorporation and a copy of which may be obtained from our corporate
solicitors, Clark Wilson LLP, Suite 800  885 West Georgia Street, Vancouver,
B.C. V6C 3H1.

Objects and Purposes of the Company

Our Notice of Articles and Articles of Incorporation place no
restrictions upon our objects and purposes.

Directors Powers

Our Articles of Incorporation do not contain any special
provision with respect to a directors power to vote on a proposal, arrangement
or contract in which the director is materially interested. Such power of
directors will be exercised by our directors in accordance with Sections 147 to
153 of the Business Corporations Act (British Columbia), which provides
in part that a director who is a party to, or who is also a director or officer
of or has a material interest in any person who is a party to, a material
contract or proposed material contract with us shall disclose the nature and
extent of his interest at the time and in the manner provided by the Business
Corporations Act (British Columbia). The Business Corporations Act
(British Columbia) also provides that any such contract or proposed contract
shall be referred to the board or shareholders for approval and a director whose
interest in a contract is so referred to the board shall not vote on any
resolution to approve the same.

35

---

Section 10.6 of our Articles of Incorporation provides that the
directors shall be paid such remuneration for their services as the board may
from time to time determine. The directors shall also be entitled to be
reimbursed for traveling and other expenses properly incurred by them in
attending meetings of the board or any committee thereof. No independent quorum
is required when the board is making decisions on directors remuneration.

Section 6.1 of our Articles of Incorporation provides that our
directors may from time to time on behalf of the Company:

| | (a) | borrow money in the manner and amount, on the security,
      from the sources and on the terms and conditions that they consider
      appropriate,                                
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                     
| | (b) | issue bonds, debentures and other debt obligations either
      outright or as security for any liability or obligation of the Company or
      any other person,                   
| |     |                                                                                                                                                                                     
| | (c) | guarantee the repayment of money by any other person or
      the performance of any obligation of any other person, and                                                            
| |     |                                                                                                                                                                                     
| | (d) | mortgage or charge, whether by way of specific or
      floating charge, or give other security on the whole or any part of the
      present and future undertaking of the Company.

Qualifications of Directors

Section 10.4 of our Articles of Incorporation provides that a
director is not required to hold a share in the capital of our Company as
qualification for his or her office but must be qualified as required by the
Business Corporations Act(British Columbia)to become, act or
continue to act as a director.

There is no provision in our Notice of Articles or Articles of
Incorporation imposing a requirement for retirement or non-retirement of
directors under an age limit requirement.

Share Rights

Our authorized capital consists of an unlimited number of
Common Shares without par value and an unlimited number of Class A Preference
Shares without par value. Each of our Common Shares entitles the holder thereof
to notice and to attend and to cast 1 vote for each matter to be decided at a
general meeting of our company. Except for such rights relating to the election
of directors on a default in payment of dividends as may be attached to any
series of the Class A Preference Shares by the directors, holders of Class A
Preference Shares shall not be entitled, as such, to receive notice of, or to
attend or vote at, any general meeting of shareholders of our company. Subject
to any special rights as may be attached to any series of the Class A

Preference Shares by the directors, holders of our Common
Shares are entitled to dividends as the directors may from time to time declare
and authorize when the directors consider appropriate.

Our Class A Preference Shares may be issued in one or more
series and, subject to the Business Corporations Act (British Columbia),
the directors may, by resolution, if none of the shares of any particular series
are issued, alter the Articles of the Company and authorize the alteration of
the Notice of Articles of our Company, as the case may be, to do one or more of
the following:

| | (a) | determine the maximum number of shares of that series
      that the Company is authorized to issue, determine that there is no such
      maximum number, or alter any such determination;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

36

---

| | (b) | create an identifying name for the shares of that series,
      or alter any such identifying name; and                      
| | --- | -----------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                              
| | (c) | attach special rights or restrictions to the shares of
      that series, or alter any such special rights or
  restrictions.

The holders of our Class A Preference Shares will be entitled,
on the liquidation or dissolution of our company, whether voluntary or
involuntary, or on any other distribution of our assets among our shareholders
for the purpose of winding up our affairs, to receive, before any distribution
is made to the holders of Common Shares or any other shares ranking junior to
the Class A Preference Shares with respect to the repayment of capital on the
liquidation or dissolution of our company, whether voluntary or involuntary, or
on any other distribution of our assets among our shareholders for the purpose
of winding up our affairs, the amount paid up with respect to each Class A
Preference Share held by them, together with the fixed premium (if any) thereon,
all accrued and unpaid cumulative dividends (if any and if preferential)
thereon, whether or not earned or declared, and all declared and unpaid
non-cumulative dividends (if any and if preferential) thereon. After payment to
the holders of the Class A Preference Shares of the amounts so payable to them,
they will not, as such, be entitled to share in any further distribution of the
property or assets of our company, except as specifically provided in the
special rights and restrictions attached to any particular series.

Our issued shares are not subject to call or assessment rights.
There are no provisions for redemption, purchase for cancellation, surrender or
purchase funds.

Procedures to Change the Rights of Shareholders

Our Articles of Incorporation do not contain any special
provision with respect to actions necessary to change the rights of our
shareholders. The rights of our shareholders may be changed by altering our
Notice of Articles and Articles of Incorporation in accordance with procedures
set out in Sections 256 to 265 of the Business Corporations Act (British
Columbia).

Summary of Sections 256 to 265 of the Business Corporations
Act (British Columbia).

In British Columbia, the statute that used to apply to the
creation, amendment, maintenance and operations of corporations and their
corporate documents has been repealed and replaced by the Business
Corporations Act. Under the former act, a company could be created through
the signature of a memorandum or articles of incorporation. We were incorporated
under the former act, using articles of incorporation.

Section 256 sets out the sections of the Act that are available
to a company for a change in its memorandum or articles of incorporation.

Section 257 sets out the sections of the act that describe the
circumstances under which a company may alter its notice of articles and the
sections of the act that provide for the process.

Section 258 informs companies how and when they may withdraw
their notice of alteration of notice of articles before the alteration takes
effect.

Section 259 explains that a company may resolve to alter its
articles of incorporation by the type of resolution specified in the Act or, if
not specified, by the resolution described in the articles or, if not in the
articles, by a special resolution.

A special resolution is a resolution passed by being consented
to in writing by all of the shareholders holding shares that carry the right to
vote at general meetings or a resolution passed at a general meeting under the
following circumstances:

37

---

(i) notice of the meeting specifying
the intention to propose the resolution as a special resolution is sent to all
shareholders holding shares that carry the right to vote at general meetings at
least the prescribed number of days before the meeting;

(ii) the majority of the votes cast by
shareholders voting shares that carry the right to vote at general meetings is
cast in favor of the resolution; and

(iii) the majority of votes cast in
favor of the resolution constitutes at least a special majority.

According to our articles of incorporation, the majority of
votes required to pass a special resolution at a meeting of our shareholders is
two-thirds of the votes cast on the resolution.

Also under section 259, a company may alter its articles to
specify or change the majority of votes that is required to pass a special
resolution, which majority must be at least 2/3 and not more than 3/4 of the
votes cast on the resolution, if the shareholders resolve, by a special
resolution, to make the alteration. A company may also alter its articles to
specify or change the majority of votes that is required for shareholders
holding shares of a class or series of shares to pass a special separate
resolution, which majority must be at least 2/3 and not more than 3/4 of the
votes cast on the resolution, if the shareholders resolve, by a special
resolution, to make the alteration, and shareholders holding shares of that
class or series of shares consent by a special separate resolution of those
shareholders.

Section 259 also covers the transition period for changes to
the articles and how to create and file a resolution to ensure that any
information in the notice of articles or special rights or restrictions attached
to shares are not rendered false or altered by the change in articles. Section
259 also covers the effective dates of changes to the articles and that a court
order may be used by the Court to effect a change in the articles of
incorporation of a company.

Section 260 states that any shareholder of a company may send a
notice of dissent to the company in respect of any resolution to change the
articles of incorporation to alter any restrictions on the powers of the company
or on the business it is permitted to carry on.

Section 261 describes how changes may be made by amendment to a
regulation to a pre-written form of articles, known as Table 1 articles, that
companies may adopt. We do not have these Table 1 articles.

Section 262 states that after an alteration to the articles of
a company takes effect, the company must not issue a copy of the articles unless
the copy of the articles reflects the alteration, or there is attached, to the
copy of the articles, a copy of each resolution, court order or other record by
which the articles being issued were altered.

Section 263 provides the process for changing a companys
name.

Section 264 covers exceptional resolutions and resolutions
respecting unalterable provisions. It states that a company may specify, by a
provision in its articles, that a provision of its notice of articles may not be
altered unless:

1. the resolution to authorize the alteration to the notice of
articles is passed as an exceptional resolution;

2, a provision of its articles may not be altered unless the
resolution to alter the company's articles is passed as an exceptional
resolution, or,

3. an action may not be taken by the company or the directors
unless the resolution to authorize or effect the taking of the action is passed
as an exceptional resolution.

38

---

Furthermore, this section states that a company may not vary or
delete an exceptional resolution provision unless the variation or deletion is
authorized by an exceptional resolution.

If a company existed before the Business Corporations
Act (British Columbia) but it has made the transition to become a
Business Corporations Act (British Columbia) as described in the Act
and its articles include a provision that was not capable of alteration under
the old act that governed the company, that company must not alter that
provision unless the alteration is ordered by the court, or authorized by a
unanimous resolution by vote of every shareholder.

Under section 265, where under our articles or the Business
Corporations Act (British Columbia), we are allowed or required to pass a
shareholders resolution or a directors resolution, and there is a conflict
between our articles of incorporation and the Business Corporations Act
(British Columbia) regarding the majority of votes that is required to pass the
resolution, we must, in order to pass the resolution, obtain the greater of the
majority of votes required by our articles and the majority of votes required by
the Business Corporations Act (British Columbia).

Meetings

Section 7.1 of our Articles of Incorporation provides that,
unless an annual general meeting is deferred or waived in accordance with
section 182(2)(a) or (c) of the Business Corporations Act, we must hold
an annual general meeting at least once in each calendar year and not more than
15 months after the last annual general meeting. The percentage vote required to
pass an ordinary resolution at a shareholder meeting is a simple majority, which
is any amount greater than 50%.

According to Section 7.4 of our Articles of Incorporation,
notice of the time and place of each meeting of shareholders shall be given not
less than 21 days before the date of the meeting to each director, to the
auditor and to each shareholder who at the close of business on the record date
for notice is entered in the securities register as the holder of one or more
shares carrying the right to vote at the meeting. Notice of a meeting of the
shareholders called for any purpose other than consideration of the financial
statements and auditors report, election of directors and re-appointment of
incumbent auditor shall state the nature of such business in sufficient detail
to permit the shareholder to form a reasoned judgment thereon and shall attach
to it a copy of the document to be considered, approved, ratified, adopted or
authorized at the meeting or state that a copy of the document will be available
for inspection by the shareholders at the companys records office or such other
reasonably accessible location in British Columbia. A shareholder may in any
manner waive notice of or otherwise consent to a meeting of shareholders.

The number of shareholders that must be present at a meeting to
constitute a quorum is 2 persons who are, or who represent by proxy,
shareholders who, in the aggregate, hold at least 1/20 of the issued shares
entitled to be voted at the meeting. If there is only one shareholder entitled
to vote at a meeting of shareholders, then the quorum is one person.

Limitations on Ownership of Securities

There are no limitations on the right to own securities of our
company by non-resident or foreign shareholders imposed either by the
Business Corporations Act (British Columbia), our Notice of Articles or
Articles of Incorporation.

There are no limitations on the rights of non-resident or
foreign shareholders to hold or exercise voting rights.

Except as provided in the Investment Canada Act
(Canada), there are no limitations under the applicable laws of Canada or by our
charter or our other constituent documents on the right of foreigners to hold or
vote common shares or other securities of our company.

39

---

The Investment Canada Act (Canada) will prohibit
implementation, or if necessary, require divestiture of an investment deemed
reviewable under the Investment Canada Act (Canada) by an investor that
is not a Canadian as defined in the Investment Canada Act (Canada) (a
non-Canadian), unless after review the Minister responsible for the
Investment Canada Act (Canada) (the Minister) is satisfied that the
reviewable investment is likely to be of net benefit to Canada. An investment
in our Common Shares by a non-Canadian, who is not a resident of a World Trade
Organization member, would be reviewable under the Investment Canada Act
(Canada) if it was an investment to acquire control of our company and the value
of the assets of our company was $5 million or more. An investment in our common
shares by WTO Investors would be reviewable only if it was an investment to
acquire control of our company and the value of the assets of our company was
equal to or greater than a specified amount (the Review Threshold), which is
published by the Minister after its determination for any particular year.

A non-Canadian would be deemed to acquire control of our
company for the purposes of the Investment Canada Act (Canada) if the
non-Canadian acquired a majority of our outstanding common shares (or less than
a majority but controlled our company in fact through the ownership of one-third
or more of our outstanding common shares) unless it could be established that,
on the acquisition, we were not controlled in fact by the acquirer through the
ownership of such common shares. Certain transactions in relation to our common
shares would be exempt from review under the Investment Canada Act
(Canada), including, among others, the following:

1. acquisition of common shares by a
person in the ordinary course of that persons business as a trader or dealer in
securities;

2. acquisition of control of our
company in connection with the realization of security granted for a loan or
other financial assistance and not for any purpose related to the provisions of
the Investment Canada Act (Canada); and

3. acquisition of control of our
company by reason of an amalgamation, merger, consolidation or corporate
reorganization following which the ultimate direct or indirect control of our
company, through the ownership of voting interests, remains unchanged.

Change in Control

There are no provisions in our articles or our bylaws that
would have the effect of delaying, deferring or preventing a change in control
of our company, and that would operate only with respect to a merger,
acquisition or corporate restructuring involving our company.

The Business Corporations Act (British Columbia) does
not contain any provisions that would have the effect of delaying, deferring or
preventing a change of control of our company. Generally, there are no
significant differences between Canadian and United States law in this regard,
as many state corporation statutes also do not contain such provisions and only
empower our board of directors to adopt such provisions.

Ownership Threshold

There are no provisions in our articles or our bylaws or in the
Business Corporations Act(British Columbia) governing the threshold
above which shareholder ownership must be disclosed. The Securities Act
(British Columbia) requires us to disclose, in our annual general meeting proxy
statement, holders who beneficially own more than 10% of our issued and
outstanding shares. Most state corporation statutes do not contain provisions
governing the threshold above which shareholder ownership must be disclosed.

United States federal securities laws require us to disclose,
in our Annual Report on Form 20-F, holders who own more than 5% of our issued
and outstanding shares.

40

---

Changes in the Capital of the Company

There are no conditions imposed by our articles or our bylaws
which are more stringent than those required by the Business Corporations Act(British Columbia).

|C. | Material Contracts
|-- | ------------------

We have not entered into any material contracts outside the
normal course of business to which we are a party during the fiscal year ending
December 31, 2017, the two fiscal years proceeding and the current fiscal year
up to and including the date of this annual report. Each contract is between
Giga Metals and the Contractor. There is no provision to pass any of these
contracts to Giga Metals wholly-owned subsidiary, Canadian Metals Exploration
Ltd.

|D. | Exchange Controls
|-- | -----------------

There are no government laws, decrees or regulations in Canada
which restrict the export or import of capital or which affect the remittance of
dividends, interest or other payments to non-resident holders of our common
shares. Any remittances of dividends to United States residents and to other
non-residents are, however, subject to withholding tax. See Taxation
below.

There are no limitations imposed by the laws of Canada, the
laws of Alberta or by the charter or other governing documents of the Company on
the right of a non-resident to hold or vote common shares of the Company, other
than as provided in the Investment Canada Act (the Investment Act) and the
potential requirement for a Competition Act Review.

The following summarizes the principal features of the
Investment Act and the Competition Act Review for a non-resident who proposes to
acquire common shares. This summary is of a general nature only and is not
intended to be, nor is it, a substitute for independent advice from an
investors own advisor. This summary does not anticipate statutory or regulatory
amendments.

The Canadian Investment Act

The Canadian Investment Act generally prohibits implementation
of a reviewable investment by an individual, government or agency thereof,
corporation, partnership, trust or joint venture that is not a Canadian as
defined in the Investment Act (a non-Canadian), unless, after review, the
minister responsible for the Investment Act (the Minister) is satisfied that
the investment is likely to be of a net benefit to Canada. Under the Investment
Act, a United States citizen qualifies as a World Trade Organization Investor.
Subject to the restrictions noted below, an investment in a Canadian business by
a World Trade Organization Investor would be reviewable under the Investment Act
only if it is an investment to acquire control of such Canadian business and the
value of the assets of the Canadian business as shown on its financial
statements is not less than a specified amount, which for 1999 was $184 million.
An investment in the shares of a Canadian business by a non-Canadian other than
a World Trade Organization Investor when the Company is not controlled by a
World Trade Organization Investor, would be reviewable under the Investment Act
if it is an investment to acquire control of the Canadian business and the value
of the assets of the Canadian business as shown on its financial statements is
$5 million or more, or if an order for review is made by the federal cabinet on
the grounds that the investment relates to Canadas cultural heritage or
national identity.

The acquisition by a World Trade Organization Investor of
control of a Canadian business in any of the following sectors is also subject
to review if the value of the assets of the Canadian business exceeds $5 million
(as shown on its financial statements): uranium, financial services (except
insurance), transportation services and cultural businesses, which include
broadcast media (publication, distribution or sale of books, magazines,
periodicals, newspapers, music, film and video products and the exhibition of
film and video products), television and radio services. As the Companys
business does not fall under any of the aforementioned categories, the acquisition of control of the
Company, in excess of the $5 million threshold, by a World Trade Organization
Investor would not be subject to such review.

41

---

A non-Canadian would acquire control of the Company for
  purposes of the Investment Act if the non-Canadian acquired a majority of the
common shares.

The acquisition of less than a majority but one-third or more
of the common shares would be presumed to be an acquisition of control of the
Company unless it could be established that, on acquisition, the Company was not
controlled in fact by the acquirer through the ownership of common shares.
Notwithstanding the review provisions, any transaction involving the acquisition
of control of a Canadian business or the establishment of a new business in
Canada by a non-Canadian is a notifiable transaction and must be reported to
Industry Canada by the non-Canadian making the investment either before or
within thirty days after the investment.

Certain transactions relating to common shares are exempt from
the Investment Act, including:

| | · | an acquisition of common shares by a person in the
      ordinary course of that persons business as a trader or dealer in
      securities;                                                                                                                                          
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | · | an acquisition of control of the Company in connection
      with the realization of security granted for a loan or other financial
      assistance and not for a purpose related to the provisions of the
      Investment Act; and                                                  
| | · | an acquisition of control of the Company by reason of an
      amalgamation, merger, consolidation or corporate reorganization, following
      which the ultimate direct or indirect control in fact of the Company,
      through the ownership of common shares, remained unchanged.

Canadian Competition Act Review

Investments giving rise to the acquisition or establishment,
directly or indirectly, by one or more persons of control over, or a significant
interest in the whole or part of a business of a competitor, supplier, customer
or other person are subject to substantive review by Canadas Competition Law
Authority, the Director of Investigation and Research (the Director). If or
when the Director concludes that a merger, whether by purchase or lease of
shares or assets, by amalgamation or by combination, or otherwise, prevents or
lessens, or is likely to prevent or lessen competition substantially, he may
apply as may be necessary to eliminate the substantial lessening or prevention
of competition. Such substantive merger review power applies to all mergers,
whether or not they meet limits for pre-notification under the Competition Act.

In addition to substantive merger review, the Competition Act
provides for a pre-notification regime respecting mergers of a certain size. The
regime applies in respect of share acquisitions, asset acquisitions,
amalgamations and combinations. For ease of reference, this filing refers
specifically to share acquisition, although the pre-notification regime applies,
with the appropriate modification, to other types of acquisition of control as
well.

In order for a share acquisition transaction to be
pre-notifiable, the parties to the transaction (being the person or persons who
proposed to acquire shares, and the corporation the shares of which are to be
acquired), together with their affiliates (being all firms with a 50% or more
voting shares linkage up and down the chain) must have:

| | (i)   | aggregate gross assets in Canada that exceed $400,000,000
      in value, as shown on their audited financial statements for the most
      recently completed fiscal year (which must be within the last fifteen (15)
      months); or                                                                                                                                                                                                                                                                                                                                                                                                                 
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (ii)  | aggregate gross revenue from sales in, from or into
      Canada that exceed $400,000,000 for the most recently completed fiscal
      year shown on the said financial statements; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (iii) | the party being acquired or corporations controlled by
      that party must have gross assets in Canada, or gross revenues from sales
      in or from Canada, exceeding $35,000,000 as shown on the said financial
      statements. Acquisition of shares carrying up to 20% of the votes of a
      publicly-traded corporation, or 35% of the votes in a private corporation,
      will not be subject to pre-notification, regardless of the above
      thresholds. However, exceeding the 20% or the 35% threshold, and again
      exceeding the 50% threshold, gives rise to an obligation of notification
      if the size threshold is met.

42

---

If a transaction is pre-notifiable, a filing must be made with
the Director containing the prescribed information with respect to the parties,
and a waiting period (either seven or twenty-one days, depending on whether a
long or short form filing is chosen) must expire prior to closing.

As an alternative to pre-notification, the Director may grant
an Advance Ruling Certificate, which exempts the transaction from
pre-notification. Advance Ruling Certificates are granted where the Director
concludes, based on the information provided to him, that he would not have
sufficient grounds on which to apply to the Competition Tribunal to challenge
the Merger.

|E. | Taxation
|-- | --------

This summary is of a general nature only and is not intended
to be, and should not be interpreted as, legal or tax advice to any prospective
purchaser or holder of the Companys shares and no representation with respect
to the Canadian federal income tax consequences to any such prospective
purchaser is made. Accordingly, prospective purchasers of the Companys shares
should consult with their own tax advisors with respect to their individual
circumstances.

The following summary describes the principal Canadian federal
income tax considerations generally applicable to a holder of the Companys
shares who, for purposes of the Income Tax Act (Canada) (the Canadian Tax Act)
and the Canada-United States Income Tax Convention, 1980 (the Convention) and
at all relevant times is resident in the United States and not resident in
Canada, deals at arms length with the Company, holds the Companys shares as
capital property, and does not use or hold and is not deemed to use or hold the
Companys shares in or in the course of carrying on business in Canada (a
United States Holder).

This following summary is based upon the current provisions of
the Canadian Income Tax Act, the regulations thereunder, all specific proposals
to amend the Canadian Tax Act and the regulations announced by the Minister of
Finance (Canada) prior to the date hereof and the Companys understanding of the
published administrative practices of the Canada Customs and Revenue Agency
(formerly Revenue Canada, Customs, Excise and Taxation). This summary does not
take into account or anticipate any other changes in the governing law, whether
by judicial, governmental or legislative decision or action, nor does it take
into account the tax legislation or considerations of any province, territory or
non-Canadian jurisdiction (including the United States), which legislation or
considerations may differ significantly from those described herein.

Disposition of the Companys Shares

In general, a United States shareholder will not be subject to
Canadian income tax on capital gains arising on the disposition of the Companys
shares, unless such shares are taxable Canadian property within the meaning of
the Canadian Income Tax Act and no relief is afforded under any applicable tax
treaty. The shares of the Company would be taxable Canadian property of a
non-resident if at any time during the five-year period immediately preceding a
disposition by the non-resident of such shares, not less than 25% of the issued
shares of any class or series of all classes of shares of the Company belonged
to the non-resident, to persons with whom the non-resident did not deal at arms
length, or to the non-resident and persons with whom the non-resident did not
deal at arms length for purposes of the Canadian Income Tax Act. For this
purpose, issued shares include options to acquire such shares (including
conversion rights) held by such persons. Under the Convention, a capital gain
realized by a resident of the United States will not be subject to Canadian tax
unless the value of the shares of the Company is derived principally from real
estate (as defined in the Convention) situated in Canada.

|F. | Dividends and Paying
  Agents
|-- | -----------------------------

Not applicable.

43

---

|G. | Statements by
Experts
|-- | ---------------------

Not required.

|H. | Documents on
Display
|-- | --------------------

The documents concerning our company may be viewed at the
offices of our corporate solicitor, Clark Wilson LLP, Suite 800 - 885 West
Georgia Street, Vancouver, British Columbia, V6C 3H1, during normal business
hours.

|I. | Subsidiary
Information
|-- | ----------------------

As at the date of this annual report, we have one wholly-owned
subsidiary, Canadian Metals Exploration Limited.

|Item 11 | Quantitative and Qualitative Disclosures
      About Market Risk
|------- | ----------------------------------------------------------------

Not required.

|Item 12 | Description of Securities Other than Equity
      Securities
|------- | ------------------------------------------------------------

Not required.

PART II

|Item 13 | Defaults, Dividend Arrearages and
      Delinquencies.
|------- | ------------------------------------------------------

Not applicable.

|Item 14 | Material Modifications to the Rights of
      Security Holders and Use of Proceeds.
|------- | -----------------------------------------------------------------------------------

Not Applicable

|Item 15 | Controls and Procedures
|------- | -----------------------

Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other
procedures that are designed to ensure that information required to be disclosed
by our company is recorded, processed, summarized and reported, within the time
periods specified in the rules and forms of the Securities and Exchange
Commission. Our Chief Executive Officer and our Chief Financial Officer are
responsible for establishing and maintaining disclosure controls and procedures
for our company.

Our Chief Executive Officer and our Chief Financial Officer
have evaluated the effectiveness of our disclosure controls and procedures as of
December 31, 2017, pursuant to Rule 13a-15(b) promulgated under the Securities
Exchange Act of 1934, as amended. As part of such evaluation, our Chief
Executive Officer and our Chief Financial Officer considered the matters
discussed below relating to internal control over financial reporting. Based on
this evaluation, our companys Chief Executive Officer and Chief Financial
Officer have concluded that our companys disclosure controls and procedures
were effective as of December 31, 2017.

44

---

Management Report on Internal Control over Financial
Reporting

Our management is responsible for establishing and maintaining
adequate internal control over financial reporting as such term is defined in
Rule 13a-15(f) Securities Exchange Act of 1934, as amended. Management (under
the supervision and with the participation of the Chief Executive Officer and
the Chief Financial Officer) assessed the effectiveness of our internal control
over financial reporting as of December 31, 2017. In making this assessment,
management used the framework set forth in Internal Control - Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Management of our company conducted an assessment of the
effectiveness of our companys internal controls over financial reporting as of
December 31, 2017. Based on its assessment as per the standards of the Public
Company Accounting Oversight Board, we concluded that our companys internal
controls over financial reporting were effective as of December 31, 2017.

We will transition to the 2013 COSO Framework in due course and
continue to monitor and evaluate the effectiveness of our internal controls and
procedures and our internal controls over financial reporting on an ongoing
basis and are committed to taking further action and implementing additional
enhancements or improvements, as necessary and as funds allow.

Attestation Report of the Registered Public Accounting Firm

This annual report does not include an attestation report of
our companys registered public accounting firm regarding internal control over
financial reporting. Our management's report was not subject to attestation by
our companys independent registered public accounting firm pursuant to
temporary rules of the Securities and Exchange Commission that permit our
company to provide only the managements report in this annual report.

Changes in Internal Control over Financial Reporting

There were no changes during the period covered by this Annual
Report in our companys internal controls over financial reporting that have
materially affected, or are reasonably likely to materially affect our companys
internal control over financial reporting.

|Item 16 | [Reserved]
|------- | ----------

|Item 16A. | Audit Committee Financial Expert
|--------- | --------------------------------

The Board of Directors has determined that the Company has at
least one independent audit committee financial expert serving on its audit
committee, this person being Lyle Davis, our Chairman and who also serves as
Chair of the Audit Committee. Please refer to Item 6.A for Mr. Davis' relevant
experience.

|Item 16B. | Code of Ethics
|--------- | --------------

The Board has adopted a Code of Ethics and Insider Trading
Policy which has been distributed to its directors, officers, employees and
consultants. A copy of the Code is available from the Company on written request
or may be viewed on the Companys website at www.gigametals.com.

|Item 16C. | Principal Accountant Fees and Services
|--------- | --------------------------------------

Audit-Related Fees

|Fiscal Year 2017: $10,000 | Fiscal Year 2016: $10,000
|------------------------- | -------------------------

Tax Fees

|Fiscal Year 2017: $Nil | Fiscal Year 2016: $Nil
|---------------------- | ----------------------

45

---

All Other Fees

|Fiscal Year 2017: $Nil | Fiscal Year 2016: $1,500
|---------------------- | ------------------------

|Item 16D. | Exemptions from the Listing Standards for Audit Committees
|--------- | ----------------------------------------------------------

Not Applicable

|Item 16E. | Purchases of Equity Securities by the Issuer and Affiliated
Purchasers
|--------- | ----------------------------------------------------------------------

Not Applicable

|Item 16F. | Change in Registrant's Certifying Accountant
|--------- | --------------------------------------------

Not Applicable

PART III

|Item 17 | Financial Statements
|------- | --------------------

Not applicable. See Item 18. Financial Statements below.

|Item 18 | Financial Statements
|------- | --------------------

The financial statements and notes thereto as required by Item
18 are attached hereto and found immediately after the text of this Annual
Statement. The auditors report of Dale Matheson Carr-Hilton LaBonte LLP,
independent registered public accountants, on the audited consolidated financial
statements and notes thereto is included immediately preceding the audited
consolidated financial statements.

Independent Auditors Report. Consolidated Statements of
financial position as at December 31, 2017, and 2016. Consolidated Statements of
Comprehensive Loss as at December 31, 2017, 2016 and 2015. Consolidated
Statements of cash flows for the years ended December 31, 2017, 2016 and 2015.

|Item 19 | Exhibits
|------- | --------

Exhibits Required by Form 20-F

|Exhibit |                                                                                                                                                      
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------
|Number  | Description                                                                                                                                          
|        |                                                                                                                                                      
|1.      | Articles of Incorporation
      and By-laws:                                                                                                         
|        |                                                                                                                                                      
|1.1     | Certificate of Incorporation
      under The Business Companies Act(British Columbia) (1)                                                            
|        |                                                                                                                                                      
|1.2     | Articles of Canadian Metals
      Exploration Limited (the name has now been changed to Hard Creek Nickel
      Corporation) (1)                     
|        |                                                                                                                                                      
|1.3     | Certificate of Change of Name
      under The Business Corporation Act(British Columbia) (the name has
      been changed to Giga Metals Corporation*
|        |                                                                                                                                                      
|8.      | List of Subsidiaries                                                                                                                                 
|        |                                                                                                                                                      
|8.1     | Canadian Metals Exploration
      Ltd., incorporated under the Canada Business Corporation Act
      (Canada) on July 14, 2004.                      
|        |                                                                                                                                                      
|12.     | Section 302
      Certifications                                                                                                                     

46

---

|12.1 | Section 302 Certification under Sarbanes-Oxley Act for
      Mark Jarvis*      
|---- | -------------------------------------------------------------------------------
|     |                                                                                
|12.2 | Section 302 Certification under Sarbanes-Oxley Act for
      Matthew Anderson *
|     |                                                                                
|13   | Section 906 Certifications                                                     
|     |                                                                                
|13.1 | Section 906 Certifications under Sarbanes-Oxley Act for
      Mark Jarvis*     
|     |                                                                                
|13.2 | Section 906 Certifications under Sarbanes-Oxley Act for
      Matthew Anderson*
|     |                                                                                
|15.  | Additional Exhibits                                                            
|     |                                                                                
|15.1 | Consent of Greg Ross, P.Geo*                                                   
|     |                                                                                
|15.2 | Code of Ethics (2)                                                             

*Filed herewith.

(1)Previously submitted with our Registration
Statement on Form 20-F filed on November 17, 2006.(2)Previously
submitted with our Annual Report Form 20-F filed on July 1, 2010.

SIGNATURE

The registrant hereby certifies that it meets all of the
requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this annual report on its behalf.

GIGA METALS CORPORATION

“Matthew Anderson”Matthew AndersonChief Financial OfficerDate: April 30, 2018


47

---



|(Formerly Hard Creek Nickel Corporation)
|----------------------------------------
|                                        
|                                        
|Consolidated Financial Statements       
|                                        
|Years Ended December 31, 2017 and 2016  
|                                        
|                                        
|Expressed in Canadian Dollars           

---

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Directors of Giga Metals Corporation
(formerly Hard Creek Nickel Corporation)

Opinion on the Consolidated Financial StatementsWe
have audited the accompanying consolidated financial statements of Giga Metals
Corporation (formerly Hard Creek Nickel Corporation) (the Company), which
comprise the consolidated statements of financial position as at December 31,
2017 and 2016, the consolidated statements of comprehensive loss, changes in
equity and cash flows for the years then ended, and the related notes,
comprising a summary of significant accounting policies and other explanatory
information (collectively referred to as the financial statements).

In our opinion, the financial statements present fairly, in all
material respects, the financial position of the Company as at December 31, 2017
and 2016, and its financial performance and its cash flows for the years then
ended in accordance with International Financial Reporting Standards as issued
by the International Accounting Standards Board.

Basis for Opinion Managements Responsibility
for the Financial StatementsManagement is responsible for the
preparation and fair presentation of these financial statements in accordance
with International Financial Reporting Standards as issued by the International
Accounting Standards Board, and for such internal control as management
determines is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or
error.

Auditors ResponsibilityOur responsibility is to
express an opinion on these financial statements based on our audits. We
conducted our audits in accordance with Canadian generally accepted auditing
standards and the standards of the Public Company Accounting Oversight Board
(United States) (PCAOB). Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement, whether due to error or fraud. Those standards
also require that we comply with ethical requirements, including independence.
We are required to be independent with respect to the Company in accordance with
the ethical requirements that are relevant to our audit of the financial
statements in Canada, the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission and the PCAOB. We are
a public accounting firm registered with the PCAOB.

An audit includes performing procedures to assess the risks of
material misstatements of the financial statements, whether due to error or
fraud, and performing procedures to respond to those risks. Such procedures
included obtaining and examining, on a test basis, audit evidence regarding the
amounts and disclosures in the financial statements. The procedures selected
depend on our judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In
making those risk assessments, we consider internal control relevant to the
Companys reparation and fair presentation of the consolidated financial
statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Companys internal control. The Company is not required to
have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Accordingly, we express no such opinion.



---

An audit also includes evaluating the appropriateness of
accounting policies and principles used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of
the financial statements.

We believe that the audit evidence we have obtained in our
  audits is sufficient and appropriate to provide a reasonable basis for our audit
  opinion.

|                                     
|-------------------------------------
|                                     
|DALE MATHESON CARR-HILTON LABONTE LLP
|CHARTERED PROFESSIONAL ACCOUNTANTS   

|We have served as the Companys auditor since 2003.
|---------------------------------------------------
|Vancouver, Canada                                  
|April 30, 2018                                     





---

|Giga Metals Corporation                      
|---------------------------------------------
|(Formerly Hard Creek Nickel Corporation)     
|Consolidated Statements of Financial Position
|As at December 31, 2017 and 2016             
|Expressed in Canadian Dollars                

|                                       |  |       |  |  | 2017        |   |  | 2016        |  
|-------------------------------------- |  | ----- |  |  | ----------- | - |  | ----------- | -
|                                       |  | Notes |  |  | $           |   |  | $           |  
|                                       |  |       |  |  |             |   |  |             |  
|ASSETS                                 |  |       |  |  |             |   |  |             |  
|Current assets                         |  |       |  |  |             |   |  |             |  
|Cash and cash equivalents              |  |       |  |  | 4,066,588   |   |  | 85,758      |  
|Receivables                            |  | 4     |  |  | 30,651      |   |  | 10,504      |  
|Prepaid expenses                       |  |       |  |  | 361,425     |   |  | 8,406       |  
|                                       |  |       |  |  | 4,458,664   |   |  | 104,668     |  
|Non-current assets                     |  |       |  |  |             |   |  |             |  
|Reclamation deposits                   |  |       |  |  | 187,900     |   |  | 187,900     |  
|Equipment                              |  | 5     |  |  | 9,463       |   |  | 10,320      |  
|Exploration and evaluation assets      |  | 6     |  |  | 1           |   |  | 1           |  
|                                       |  |       |  |  | 197,364     |   |  | 198,221     |  
|                                       |  |       |  |  |             |   |  |             |  
|TOTAL ASSETS                           |  |       |  |  | 4,656,028   |   |  | 302,889     |  
|                                       |  |       |  |  |             |   |  |             |  
|LIABILITIES                            |  |       |  |  |             |   |  |             |  
|Current liabilities                    |  |       |  |  |             |   |  |             |  
|Trade payables and accrued liabilities |  | 7     |  |  | 144,982     |   |  | 14,970      |  
|                                       |  |       |  |  |             |   |  |             |  
|TOTAL LIABILITIES                      |  |       |  |  | 144,982     |   |  | 14,970      |  
|                                       |  |       |  |  |             |   |  |             |  
|EQUITY                                 |  |       |  |  |             |   |  |             |  
|Share capital                          |  | 10    |  |  | 53,218,158  |   |  | 48,887,797  |  
|Share-based payment reserve            |  | 11    |  |  | 6,745,535   |   |  | 6,196,470   |  
|Subscriptions received                 |  | 16    |  |  | 27,000      |   |  | -           |  
|Deficit                                |  |       |  |  | (55,479,647 | ) |  | (54,796,348 | )
|                                       |  |       |  |  |             |   |  |             |  
|TOTAL EQUITY                           |  |       |  |  | 4,511,046   |   |  | 287,919     |  
|                                       |  |       |  |  |             |   |  |             |  
|TOTAL LIABILITIES AND EQUITY           |  |       |  |  | 4,656,028   |   |  | 302,889     |  

Nature and continuance of operations (Note 1)

Subsequent events (Note 17)

APPROVED BY:

DIRECTOR
    MARK JARVIS
    DIRECTOR
    LYLE DAVIS


See accompanying notes to the consolidated financial statements

4

---

|Giga Metals Corporation                       
|----------------------------------------------
|(Formerly Hard Creek Nickel Corporation)      
|Consolidated Statements of Comprehensive Loss 
|For the years ended December 31, 2017 and 2016
|Expressed in Canadian Dollars                 

|                                                                        |  |       |  |  | 2017       |   |  | 2016       |  
|----------------------------------------------------------------------- |  | ----- |  |  | ---------- | - |  | ---------- | -
|                                                                        |  | Notes |  |  | **$**      |   |  | **$**      |  
|                                                                        |  |       |  |  |            |   |  |            |  
|Operating expenses                                                      |  |       |  |  |            |   |  |            |  
|Amortization                                                            |  | 5     |  |  | 1,713      |   |  | 2,968      |  
|Consulting                                                              |  |       |  |  | 44,141     |   |  | 26,692     |  
|Investor relations                                                      |  |       |  |  | 33,429     |   |  | 12,540     |  
|Legal and audit                                                         |  |       |  |  | 21,167     |   |  | 18,178     |  
|Management fees                                                         |  | 12    |  |  | 53,600     |   |  | 18,000     |  
|Office and
      general                                                |  |       |  |  | 123,067    |   |  | 75,111     |  
|Stock-based compensation                                                |  | 10    |  |  | 360,493    |   |  | 42,831     |  
|                                                                        |  |       |  |  | 637,610    |   |  | 196,321    |  
|                                                                        |  |       |  |  |            |   |  |            |  
|Other items                                                             |  |       |  |  |            |   |  |            |  
|Exploration property impairments                                        |  | 6     |  |  | 51,964     |   |  | 29,093     |  
|Interest income                                                         |  |       |  |  | (6,275     | ) |  | (1,302     | )
|                                                                        |  |       |  |  | 45,683     |   |  | 27,791     |  
|                                                                        |  |       |  |  |            |   |  |            |  
|Loss and comprehensive loss for the year                                |  |       |  |  | (683,299   | ) |  | (224,112   | )
|                                                                        |  |       |  |  |            |   |  |            |  
|Loss per share  basic and diluted                                      |  | 10    |  |  | (0.03      | ) |  | (0.01      | )
|Weighted average number of shares outstanding 
      basic and diluted |  | 10    |  |  | 25,986,111 |   |  | 18,347,211 |  

See accompanying notes to the consolidated financial statements

5

---

|Giga Metals Corporation                       
|----------------------------------------------
|(Formerly Hard Creek Nickel Corporation)      
|Consolidated Statement of Changes in Equity   
|For the years ended December 31, 2017 and 2016
|Expressed in Canadian Dollars                 

|                                   |                              |  |    |       |  |            | Share capital |  |            |          |   |           |             |  |        |               |  |             |         | 
|---------------------------------- | ---------------------------- |  | -- | ----- |  | ---------- | ------------- |  | ---------- | -------- | - | --------- | ----------- |  | ------ | ------------- |  | ----------- | ------- | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           | Share-based |  |        |               |  |             |         | 
|                                   |                              |  |    |       |  |            | Number of     |  |            |          |   |           | payment     |  |        | Subscriptions |  |             |         | 
|                                   |                              |  |    |       |  |            | shares        |  |            | Amount   |   |           | reserve     |  |        | received      |  |             | Deficit | 
|                                   |                              |  |    | Notes |  |            | #             |  |            | $        |   |           | $           |  |        | $             |  |             | $       | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|Balance at December
      31, 2015 |                              |  |    |       |  | 9,037,349  |               |  | 48,642,413 |          |   | 6,153,639 |             |  | -      |               |  | (54,572,236 | )       | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|Private placement                  |                              |  | 10 |       |  | 12,500,000 |               |  | 250,000    |          |   | -         |             |  | -      |               |  | -           |         | 
|Share issuance costs               |                              |  | 10 |       |  | -          |               |  | (4,616     | )        |   | -         |             |  | -      |               |  | -           |         | 
|Stock-based
      compensation     |                              |  | 10 |       |  | -          |               |  | -          |          |   | 42,831    |             |  | -      |               |  | -           |         | 
|Comprehensive loss for the year    |                              |  |    |       |  | -          |               |  | -          |          |   | -         |             |  | -      |               |  | (224,112    | )       | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|Balance at December 31, 2016       |                              |  |    |       |  | 21,537,349 |               |  | 48,887,797 |          |   | 6,196,470 |             |  | -      |               |  | (54,796,348 | )       | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|Private placements                 |                              |  | 10 |       |  | 18,146,666 |               |  | 4,664,233  |          |   | 36,267    |             |  | 27,000 |               |  | -           |         | 
|Share issuance
      costs         |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|-                                  | Cash finders fees           |  |    | 10    |  |            | -             |  |            | (230,473 | ) |           | -           |  |        | -             |  |             | -       | 
|-                                  | Cash brokers
      warrants |  |    | 10    |  |            | -             |  |            | (152,305 | ) |           | 152,305     |  |        | -             |  |             | -       | 
|-                                  | Other fees                   |  |    | 10    |  |            | -             |  |            | (26,594  | ) |           | -           |  |        | -             |  |             | -       | 
|Exercise of
      warrants         |                              |  |    |       |  | 855,000    |               |  | 63,000     |          |   | -         |             |  | -      |               |  | -           |         | 
|Exercise of options                |                              |  |    |       |  | 125,000    |               |  | 12,500     |          |   | -         |             |  | -      |               |  | -           |         | 
|Stock-based
      compensation     |                              |  | 10 |       |  | -          |               |  | -          |          |   | 360,493   |             |  | -      |               |  | -           |         | 
|Comprehensive loss for the year    |                              |  |    |       |  | -          |               |  | -          |          |   | -         |             |  | -      |               |  | (683,299    | )       | 
|                                   |                              |  |    |       |  |            |               |  |            |          |   |           |             |  |        |               |  |             |         | 
|Balance at December 31, 2017       |                              |  |    |       |  | 40,664,015 |               |  | 53,218,158 |          |   | 6,745,535 |             |  | 27,000 |               |  | (55,479,647 | )       | 

On August 28, 2017, the Company consolidated its common shares
on a basis of one (1) new common share for two (2) old common shares held.
Reference to common shares, per share amounts and other securities have been
retroactively restated.

See accompanying notes to the consolidated financial
statements

6

---

|Giga Metals Corporation                       
|----------------------------------------------
|(Formerly Hard Creek Nickel Corporation)      
|Consolidated Statements of Cash Flows         
|For the years ended December 31, 2017 and 2016
|Expressed in Canadian Dollars                 

|                                                        |  | 2017      |   |  | 2016     |  
|------------------------------------------------------- |  | --------- | - |  | -------- | -
|                                                        |  | **$**     |   |  | **$**    |  
|                                                        |  |           |   |  |          |  
|Operating activities                                    |  |           |   |  |          |  
|Loss for the year                                       |  | (683,299  | ) |  | (224,112 | )
|Adjustments for:                                        |  |           |   |  |          |  
|Amortization                                            |  | 1,713     |   |  | 2,968    |  
|Stock-based
      compensation                          |  | 360,493   |   |  | 42,831   |  
|Exploration property impairment
      and expenditures  |  | 51,964    |   |  | 29,093   |  
|Changes in non-cash working
      capital items:        |  |           |   |  |          |  
|Receivables                                             |  | (20,147   | ) |  | 9,412    |  
|Prepaid expense                                         |  | (353,019  | ) |  | (1,810   | )
|Trade payables and accrued liabilities                  |  | 130,012   |   |  | (879     | )
|Net cash flows used in operating activities             |  | (512,283  | ) |  | (142,497 | )
|                                                        |  |           |   |  |          |  
|Investing activities                                    |  |           |   |  |          |  
|Expenditures on exploration and evaluation
      assets |  | (51,964   | ) |  | (29,093  | )
|Purchase of equipment                                   |  | (856      | ) |  | -        |  
|Net cash flows used in investing activities             |  | (52,820   | ) |  | (29,093  | )
|                                                        |  |           |   |  |          |  
|Financing activities                                    |  |           |   |  |          |  
|Proceeds on issuance of
      common shares             |  | 4,803,000 |   |  | 250,000  |  
|Share issue costs                                       |  | (257,067  | ) |  | (4,616   | )
|Net cash flows from financing activities                |  | 4,545,933 |   |  | 245,384  |  
|Increase in cash and cash equivalents                   |  | 3,980,830 |   |  | 73,794   |  
|Cash and cash equivalents,
      beginning              |  | 85,758    |   |  | 11,964   |  
|                                                        |  |           |   |  |          |  
|Cash and cash equivalents, ending                       |  | 4,066,588 |   |  | 85,758   |  
|                                                        |  |           |   |  |          |  
|                                                        |  |           |   |  |          |  
|Cash                                                    |  | 1,555,088 |   |  | 85,758   |  
|Cash equivalents                                        |  | 2,511,500 |   |  | -        |  

Supplemental cash flow information (Note 15)

See accompanying notes to the consolidated financial statements

7

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

|1. | Nature and continuance of
  operations
|-- | --------------------------------------

Giga Metals Corporation (the Company)
was incorporated on January 17, 1983, under the laws of the province of British
Columbia, Canada, and its principal activity is the acquisition and exploration
of mineral properties in Canada. On August 28, 2017, the Company changed its
name to Giga Metals Corporation from Hard Creek Nickel Corporation. The
Companys common shares are listed for trading on the TSX Venture Exchange
(TSXV) under the symbol GIGA.

The head office, principal address and
records office of the Company are located at 700 West Pender Street, Suite 203,
Vancouver, British Columbia, Canada, V6C 1G8. The Companys registered address
is 885 West Georgia Street, Suite 800, Vancouver, British Columbia, Canada, V6C
3H1.

These consolidated financial statements
have been prepared on the assumption that the Company and its subsidiary will
continue as a going concern, meaning it will continue in operation for the
foreseeable future and will be able to realize assets and discharge liabilities
in the ordinary course of operations. As at December 31, 2017, the Company had
working capital of $4,313,682 but the Company had not advanced its mineral
properties to commercial production. The Companys continuation as a going
concern is dependent upon the successful results from its mineral property
exploration activities and its ability to attain profitable operations and
generate funds there from and/or raise equity capital or borrowings sufficient
to meet current and future obligations. Management intends to finance operating
costs over the next twelve months using existing cash.

|2. | Significant accounting policies and basis of
      preparation
|-- | --------------------------------------------------------------

These financial statements were
authorized for issue on April 30, 2018 by the directors of the Company.

Statement of compliance with
International Financial Reporting Standards

The consolidated financial statements
of the Company comply with International Financial Reporting Standards (IFRS)
as issued by the International Accounting Standards Board (IASB) and
interpretations of the International Financial Reporting Interpretations
Committee (IFRIC).

Basis of preparation

The consolidated financial statements
of the Company have been prepared on an accrual basis and are based on
historical costs, modified where applicable. The consolidated financial
statements are presented in Canadian dollars unless otherwise noted.

Consolidation

The consolidated financial statements
include the accounts of the Company and its wholly owned Canadian subsidiary,
Canadian Metals Exploration Ltd. Inter-company balances and transactions,
including unrealized income and expenses arising from inter-company
transactions, are eliminated on consolidation.

Significant estimates and
assumptions

The preparation of financial statements
in accordance with IFRS requires the Company to make estimates and assumptions
concerning the future. The Companys management reviews these estimates and
underlying assumptions on an ongoing basis, based on experience and other
factors, including expectations of future events that are believed to be
reasonable under the

8

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

circumstances. Revisions to estimates
are adjusted prospectively in the period in which the estimates are revised.

Estimates and assumptions where there
is significant risk of material adjustments to assets and liabilities in future
accounting periods include the useful lives of plant and equipment, the
recoverability of the carrying value of exploration and evaluation assets, fair
value measurements for financial instruments, the recoverability and measurement
of deferred tax assets, provisions for restoration and environmental obligations
and contingent liabilities.

Significant judgments

The preparation of financial statements
in accordance with IFRS requires the Company to make judgments, apart from those
involving estimates, in applying accounting policies. The most significant
judgments in applying the Companys financial statements include:

| | - | The assessment of the Companys ability to
      continue as a going concern and whether there are events or conditions
      that may give rise to significant uncertainty;
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | - | the classification / allocation of expenditures
      as exploration and evaluation expenditures or operating expenses; and                                                 
| | - | the classification of financial instruments.                                                                                                                                

Cash and cash equivalents

Cash and cash equivalents include cash
and highly liquid investments held in the form of money market investments and
certificates of deposit with investment terms that allow for penalty free
redemption after one month.

Exploration and evaluation
expenditures

Costs incurred before the Company has
obtained the legal rights to explore an area are expensed as incurred.

Exploration and evaluation expenditures
include the costs of acquiring licenses and costs associated with exploration
and evaluation activity. Option payments are considered acquisition costs
provided that the Company has the intention of exercising the underlying
option.

Property option agreements are
exercisable entirely at the option of the optionee. Therefore, option payments
(or recoveries) are recorded when payment is made (or received) and are not
accrued.

Exploration and evaluation expenditures
are capitalized. The Company capitalizes costs to specific blocks of claims or
areas of geological interest. Government tax credits received are recorded as a
reduction to the cumulative costs incurred and capitalized on the related
property.

Exploration and evaluation assets are
tested for impairment if facts or circumstances indicate that impairment exists.
Examples of such facts and circumstances are as follows:

| | - | the period for which the Company has the right
      to explore in the specific area has expired during the period or will
      expire in the near future, and is not expected to be renewed;                                                                     
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | - | substantive expenditure on further exploration
      for and evaluation of mineral resources in the specific area is neither
      budgeted nor planned;                                                                                                           
| | - | exploration for and evaluation of mineral resources in
      the specific area have not led to the discovery of commercially viable
      quantities of mineral resources and the entity has decided to discontinue
      such activities in the specific area; and

9

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

| | - | sufficient data exist to indicate that, although a
      development in the specific area is likely to proceed, the carrying amount
      of the exploration and evaluation asset is unlikely to be recovered in
      full from successful development or by sale.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

After technical feasibility and
commercial viability of extracting a mineral resource are demonstrable, the
Company stops capitalizing expenditures for the applicable block of claims or
geological area of interest and tests the asset for impairment. The capitalized
balance, net of any impairment recognized, is then reclassified to either
tangible or intangible mine development assets according to the nature of the
asset.

Share-based payments

The Company operates an employee stock
option plan. Share-based payments to employees are measured at the fair value of
the instruments issued and amortized over the vesting periods. Share-based
payments to non-employees are measured at the fair value of goods or services
received or the fair value of the equity instruments issued, if it is determined
the fair value of the goods or services cannot be reliably measured, and are
recorded at the date the goods or services are received. The corresponding
amount is recorded to the share-based payment reserve. The fair value of options
is determined using the BlackScholes option pricing model which incorporates
all market vesting conditions. The number of shares and options expected to vest
is reviewed and adjusted at the end of each reporting period such that the
amount recognized for services received as consideration for the equity
instruments granted shall be based on the number of equity instruments that
eventually vest.

Loss per share

Basic loss per share is calculated by
dividing the loss attributable to common shareholders by the weighted average
number of common shares outstanding in the period. For all periods presented,
the loss attributable to common shareholders equals the reported loss
attributable to owners of the Company. Diluted loss per share is calculated by
the treasury stock method. Under the treasury stock method, the weighted average
number of common shares outstanding for the calculation of diluted loss per
share assumes that the proceeds to be received on the exercise of dilutive share
options and warrants are used to repurchase common shares at the average market
price during the period.

Financial instruments

The Company classifies its financial
instruments in the following categories: financial assets at fair value through
profit or loss, loans and receivables, held-to-maturity investments,
available-for-sale financial assets and financial liabilities. The
classification depends on the purpose for which the financial instruments were
acquired. Management determines the classification of its financial instruments
at initial recognition.

Financial assets are classified at fair
value through profit or loss when they are either held for trading for the
purpose of short-term profit taking, derivatives not held for hedging purposes,
or when they are designated as such to avoid an accounting mismatch or to enable
performance evaluation where a group of financial assets is managed by key
management personnel on a fair value basis in accordance with a documented risk
management or investment strategy. Such assets are subsequently measured at fair
value with changes in carrying value being included in profit or loss.

Loans and receivables are
non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market and are subsequently measured at amortized cost. They
are

10

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

included in current assets, except for
maturities greater than 12 months after the end of the reporting period. These
are classified as non-current assets.

Available-for-sale financial assets are
non-derivative financial assets that are designated as available-for-sale or are
not suitable to be classified as financial assets at fair value through profit
or loss, loans and receivables or held-to-maturity investments and are
subsequently measured at fair value. These are included in current assets to the
extent they are expected to be realized within 12 months after the end of the
reporting period. Unrealized gains and losses are recognized in other
comprehensive income, except for impairment losses and foreign exchange gains
and losses on monetary financial assets.

Non-derivative financial liabilities
(excluding financial guarantees) are subsequently measured at amortized
cost.Regular purchases and sales of financial assets are recognized on the
trade-date  the date on which the group commits to purchase the asset.

Financial assets are derecognized when
the rights to receive cash flows from the investments have expired or have been
transferred and the Company has transferred substantially all risks and rewards
of ownership.

At each reporting date, the Company
assesses whether there is objective evidence that a financial instrument has
been impaired. In the case of available-for-sale financial instruments, a
significant and prolonged decline in the value of the instrument is considered
to determine whether an impairment has arisen.

The Company does not have any
derivative financial assets and liabilities.

Impairment of assets

The carrying amount of the Companys
assets (which include plant and equipment and exploration and evaluation assets)
is reviewed at each reporting date to determine whether there is any indication
of impairment. If such indication exists, the recoverable amount of the asset is
estimated in order to determine the extent of the impairment loss. An impairment
loss is recognized whenever the carrying amount of an asset or its cash
generating unit exceeds its recoverable amount. Impairment losses are recognized
in the statement of comprehensive loss.

The recoverable amount of assets is the
greater of an assets fair value less cost to sell and value in use. In
assessing value in use, the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects the current market
assessments of the time value of money and the risks specific to the asset. For
an asset that does not generate cash inflows largely independent of those from
other assets, the recoverable amount is determined for the cash-generating unit
to which the asset belongs.

An impairment loss is only reversed if
there is an indication that the impairment loss may no longer exist and there
has been a change in the estimates used to determine the recoverable amount. Any
reversal of impairment cannot increase the carrying value of the asset to an
amount higher than the carrying amount that would have been determined had no
impairment loss been recognized in previous years.

Assets that have an indefinite useful
life are not subject to amortization and are tested annually for impairment.

11

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

Income taxes

Current income tax: Current
income tax assets and liabilities for the current period are measured at the
amount expected to be recovered from or paid to the taxation authorities. The
tax rates and tax laws used to compute the amount are those that are enacted or
substantively enacted, at the reporting date, in the countries where the Company
operates and generates taxable income.

Current income tax relating to items
recognized directly in other comprehensive income or equity is recognized in
other comprehensive income or equity and not in profit or loss. Management
periodically evaluates positions taken in the tax returns with respect to
situations in which applicable tax regulations are subject to interpretation and
establishes provisions where appropriate.

Deferred income tax:
Deferred income tax is recognized, using the asset and liability method, on
temporary differences at the reporting date arising between the tax bases of
assets and liabilities and their carrying amounts for financial reporting
purposes.

The carrying amount of deferred income
tax assets is reviewed at the end of each reporting period and recognized only
to the extent that it is probable that sufficient taxable profit will be
available to allow all or part of the deferred income tax asset to be
utilized.

Deferred income tax assets and
liabilities are measured at the tax rates that are expected to apply to the year
when the asset is realized or the liability is settled, based on tax rates (and
tax laws) that have been enacted or substantively enacted by the end of the
reporting period.

Deferred income tax assets and deferred
income tax liabilities are offset, if a legally enforceable right exists to set
off current tax assets against current income tax liabilities and the deferred
income taxes relate to the same taxable entity and the same taxation
authority.

Flow-through shares: On the
issuance of flow-through shares, any premium received in excess of the market
price of the Companys common shares is initially recorded as a liability
(flow-through tax liability). Provided that the Company has renounced the
related expenditures, or that there is a reasonable expectation that it will do
so, the flow-through tax liability is reduced on a pro-rata basis as the
expenditures are incurred. If such expenditures are capitalized, a deferred tax
liability is recognized. To the extent that the Company has suitable
unrecognized deductible temporary differences, an offsetting recovery of
deferred income taxes would be recorded.

Restoration and environmental
obligationsThe Company recognizes liabilities for statutory,
contractual, constructive or legal obligations associated with the retirement of
long-term assets, when those obligations result from the acquisition,
construction, development or normal operation of the assets. The net present
value of future restoration cost estimates arising from the decommissioning of
plant and other site preparation work is capitalized to the related asset along
with a corresponding increase in the restoration provision in the period
incurred. Discount rates using a pre-tax rate that reflect the time value of
money are used to calculate the net present value.

The Companys estimates of restoration
costs could change as a result of changes in regulatory requirements, discount
rates and assumptions regarding the amount and timing of the future
expenditures. These changes are recorded directly to the related asset with a
corresponding entry to the restoration provision. The Companys estimates are
reviewed annually for changes in regulatory requirements, discount rates,
effects of inflation and changes in estimates.

12

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

Changes in the net present value,
excluding changes in the Companys estimates of restoration costs, are charged
to the statement of comprehensive loss for the period.

The net present value of restoration
costs arising from subsequent site damage that is incurred on an ongoing basis
during production are charged to the statement of comprehensive loss in the
period incurred.

The costs of restoration projects that
were included in the provision are recorded against the provision as incurred.
The costs to prevent and control environmental impacts at specific properties
are capitalized in accordance with the Companys accounting policy for
exploration and evaluation assets.

At December 31, 2017 and 2016, the
Company had no material restoration and environmental obligations.

Equipment

Plant and equipment are stated at
historical cost less accumulated depreciation and accumulated impairment
losses.

Subsequent costs are included in the
assets carrying amount or recognized as a separate asset, as appropriate, only
when it is probable that future economic benefits associated with the item will
flow to the Company and the cost of the item can be measured reliably. The
carrying amount of the replaced part is derecognized. All other repairs and
maintenance are charged to the statement of comprehensive loss during the
financial period in which they are incurred.

Gains and losses on disposals are
determined by comparing the proceeds with the carrying amount and are recognized
in the statement of comprehensive loss.

Amortization is calculated on a
declining balance method to write off the cost of the assets to their residual
values over their estimated useful lives. The amortization rates applicable to
each category of property, plant and equipment are as follows:

Class of equipment
    Amortization rateMotor vehicles
    30% declining balanceComputer equipment
    30% declining balanceExploration and office equipment
    20% declining balance


|3. | Accounting standards issued but not yet
      effective
|-- | -------------------------------------------------------

New standard IFRS 9 Financial
Instruments is a partial replacement of IAS 39 Financial Instruments:
Recognition and Measurement. IFRS 9 uses a single approach to determine whether
a financial asset is measured at amortized cost or fair value, replacing the
multiple rules in IAS 39. The approach in IFRS 9 is based on how an entity
manages its financial instruments in the context of its business model and the
contractual cash flow characteristics of the financial assets.

The new standard also requires a single
impairment method to be used, replacing the multiple impairment methods in IAS
39. IFRS 9 is effective for annual periods beginning on or after January 1,
2018. The Company does not expect the adoption of IFRS 9 to have a material
effect on the financial statements.

IFRS 16 Leases replaces IAS 17
Leases and the related interpretative guidance. IFRS 16 applies a control
model to the identification of leases, distinguishing between a lease and a
service contract on the basis of whether the customer controls the asset being
leased. For those assets

13

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

determined to meet the definition of a
lease, IFRS 16 introduces significant changes to the accounting by lessees,
introducing a single, on-balance sheet accounting model that is similar to
current finance lease accounting, with limited exceptions for short-term leases
or leases of low value assets. Lessor accounting is not substantially changed.
The standard is effective for annual periods beginning on or after January 1,
2019, with early adoption permitted for entities that have adopted IFRS 15. The
Company has not yet assessed the future impact of this new standard on its
financial statements.

Other accounting standards or
amendments to existing accounting standards that have been issued but have
future effective dates are either not applicable or are not expected to have a
significant impact on the Companys consolidated financial statements.

|4. | Receivables
|-- | -----------

| |                                     |  | 2017   |  |  | 2016   | 
| | ----------------------------------- |  | ------ |  |  | ------ | 
| |                                     |  | **$**  |  |  | **$**  | 
| |                                     |  |        |  |  |        | 
| | Goods and Service sales tax         |  | 5,177  |  |  | 1,141  | 
| | British Columbia mining tax credits |  | 20,264 |  |  | 7,273  | 
| | Interest receivable                 |  | 5,210  |  |  | -      | 
| | Other receivables                   |  | -      |  |  | 2,090  | 
| |                                     |  | 30,651 |  |  | 10,504 | 

|5. | Equipment
|-- | ---------

| |                               |  |          |  |  |           |  |  | Exploration |  |  |         | 
| | ----------------------------- |  | -------- |  |  | --------- |  |  | ----------- |  |  | ------- | 
| |                               |  | Motor    |  |  | Computer  |  |  | and office  |  |  |         | 
| |                               |  | Vehicles |  |  | equipment |  |  | equipment   |  |  | Total   | 
| |                               |  | **$**    |  |  | **$**     |  |  | **$**       |  |  | **$**   | 
| | Cost:                         |  |          |  |  |           |  |  |             |  |  |         | 
| | At December 31, 2016 and 2015 |  | 20,330   |  |  | 28,809    |  |  | 61,984      |  |  | 111,123 | 
| | Additions                     |  | -        |  |  | 856       |  |  | -           |  |  | 856     | 
| | At
      December 31, 2017    |  | 20,330   |  |  | 29,665    |  |  | 61,984      |  |  | 111,979 | 
| |                               |  |          |  |  |           |  |  |             |  |  |         | 
| | Depreciation:                 |  |          |  |  |           |  |  |             |  |  |         | 
| | At January 1, 2015            |  | 19,422   |  |  | 25,619    |  |  | 51,794      |  |  | 97,835  | 
| | Charge for the year           |  | 272      |  |  | 660       |  |  | 2,036       |  |  | 2,968   | 
| | At December 31, 2016          |  | 19,694   |  |  | 27,279    |  |  | 53,830      |  |  | 100,803 | 
| | Charge for the year           |  | 144      |  |  | 348       |  |  | 1,221       |  |  | 1,713   | 
| | At December 31, 2017          |  | 19,838   |  |  | 27,627    |  |  | 55,051      |  |  | 102,516 | 
| |                               |  |          |  |  |           |  |  |             |  |  |         | 
| | Net book value:               |  |          |  |  |           |  |  |             |  |  |         | 
| | At December 31, 2016          |  | 636      |  |  | 1,530     |  |  | 8,154       |  |  | 10,320  | 
| | At December 31, 2017          |  | 492      |  |  | 2,038     |  |  | 6,933       |  |  | 9,463   | 

14

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

|6. | Exploration and evaluation
assets
|-- | ---------------------------------

The Companys deferred exploration
costs are as follows:

| |                                                      |  | Balance,     |   |  |                |   |  | Balance,     |   |  |                |   |  | Balance,     |  
| | ---------------------------------------------------- |  | ------------ | - |  | -------------- | - |  | ------------ | - |  | -------------- | - |  | ------------ | -
| |                                                      |  | December 31, |   |  | Change in year |   |  | December 31, |   |  | Change in year |   |  | December 31, |  
| |                                                      |  | 2015         |   |  | 2016           |   |  | 2016         |   |  | 2017           |   |  | 2017         |  
| |                                                      |  | **$**        |   |  | **$**          |   |  | **$**        |   |  | **$**          |   |  | **$**        |  
| |                                                      |  |              |   |  |                |   |  |              |   |  |                |   |  |              |  
| | Mineral property interests                           |  | 179,500      |   |  | -              |   |  | 179,500      |   |  | -              |   |  | 179,500      |  
| | Assays and testing                                   |  | 2,052,292    |   |  | -              |   |  | 2,052,292    |   |  | -              |   |  | 2,052,292    |  
| | Claims renewal / staking                             |  | 459,261      |   |  | -              |   |  | 459,261      |   |  | -              |   |  | 459,261      |  
| | Drilling                                             |  | 12,488,967   |   |  | -              |   |  | 12,488,967   |   |  | -              |   |  | 12,488,967   |  
| | Environmental studies                                |  | 1,256,621    |   |  | -              |   |  | 1,256,621    |   |  | -              |   |  | 1,256,621    |  
| | Exploration data management                          |  | 917,422      |   |  | -              |   |  | 917,422      |   |  | -              |   |  | 917,422      |  
| | First Nations                                        |  | 166,444      |   |  | -              |   |  | 166,444      |   |  | -              |   |  | 166,444      |  
| | Geochemistry                                         |  | 111,066      |   |  | -              |   |  | 111,066      |   |  | -              |   |  | 111,066      |  
| | Geological and engineering
      services            |  | 8,779,898    |   |  | 18,000         |   |  | 8,779,898    |   |  | 54,358         |   |  | 8,834,256    |  
| | Geophysical services                                 |  | 743,515      |   |  | -              |   |  | 743,515      |   |  | -              |   |  | 743,515      |  
| | Metallurgy                                           |  | 3,792,672    |   |  | 7,500          |   |  | 3,792,672    |   |  | -              |   |  | 3,792,672    |  
| | Petrographic work                                    |  | 43,957       |   |  | -              |   |  | 43,957       |   |  | -              |   |  | 43,957       |  
| | Project management                                   |  | 106,015      |   |  | -              |   |  | 106,015      |   |  | -              |   |  | 106,015      |  
| | Survey, mapping and camp                             |  | 1,617,849    |   |  | 10,866         |   |  | 1,617,849    |   |  | 10,597         |   |  | 1,628,446    |  
| | Transportation                                       |  | 2,604,549    |   |  | -              |   |  | 2,604,549    |   |  | -              |   |  | 2,604,549    |  
| | Cost recovery                                        |  | (56,480      | ) |  | -              |   |  | (56,480      | ) |  | -              |   |  | (56,480      | )
| | Property impairments                                 |  | (33,006,960  | ) |  | (29,093        | ) |  | (33,006,960  | ) |  | (51,964        | ) |  | (33,058,924  | )
| | BC refundable mining tax credits                     |  | (2,195,403   | ) |  | (7,273         | ) |  | (2,195,403   | ) |  | (12,991        | ) |  | (2,208,394   | )
| | Federal non-refundable mining
      tax credits, net |  |              |   |  |                |   |  |              |   |  |                |   |  |              |  
| | of
      valuation allowance                         |  | (61,185      | ) |  | -              |   |  | (61,185      | ) |  | -              |   |  | (61,185      | )
| |                                                      |  | 1            |   |  | -              |   |  | 1            |   |  | -              |   |  | 1            |  

15

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

The Company has a 100% interest in
certain mineral claims, located along the Turnagain River in British Columbia,
Canada. One claim is subject to a 4% net smelter return royalty (NSR). The
Company has the option to purchase all or part of the NSR within four years of
commercial production for a price of $1,000,000 per 1% NSR.

During the year ended December 31,
2016, the Company incurred costs totalling $29,093 net of B.C. Mineral
Exploration Tax Credits on the Turnagain mineral claims, which were impaired
based on the indicators discussed below.

At December 31, 2016, the Company
determined that impairment indicators existed and reduced he carrying value of
the Turnagain mineral claims by $29,093 to $1 based on managements assessment
of current nickel prices, the global over-supply of nickel held in inventories
and the weaker than expected Chinese and European demand for nickel. Future
changes to this estimate could have a significant impact on the carrying value
of the Turnagain mineral claims.

During the year ended December 31,
2017, the Company incurred $51,964 of exploration and evaluation expenditures.
All of the expenditures were recorded to the statement of loss as exploration
property impairments.

|7. | Trade payables and accrued
  liabilities
|-- | ----------------------------------------

| |                     |  | December 31, |  |  | December 31, | 
| | ------------------- |  | ------------ |  |  | ------------ | 
| |                     |  | 2017         |  |  | 2016         | 
| |                     |  | **$**        |  |  | **$**        | 
| | Trade payables      |  | 134,982      |  |  | 4,970        | 
| | Accrued liabilities |  | 10,000       |  |  | 10,000       | 
| |                     |  | 144,982      |  |  | 14,970       | 

|8. | Sublease obligations
|-- | --------------------

Sublease obligations relate to the
Companys rent of office space. The term of the lease expires on March 31, 2019.
A schedule of the Companys minimum lease payments is as follows:

| |                                                           |  | December 31, |  |  | December 31, | 
| | --------------------------------------------------------- |  | ------------ |  |  | ------------ | 
| |                                                           |  | 2017         |  |  | 2016         | 
| |                                                           |  | **$**        |  |  | **$**        | 
| | Payable not later than one
      year                     |  | 53,159       |  |  | 53,159       | 
| | Payable later than one year and not later than five years |  | 13,290       |  |  | 79,738       | 
| |                                                           |  | 66,449       |  |  | 132,897      | 

16

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

|9. | Income taxes and mining tax
  credits
|-- | -------------------------------------

The actual income tax provision differs
from the expected amounts calculated by applying the Canadian combined statutory
federal and provincial corporate income tax rates to the Companys loss before
income taxes. The components of the Companys income tax recovery are as
follows:

| |                                                              |  | Year ended   |   |  | Year ended   |  
| | ------------------------------------------------------------ |  | ------------ | - |  | ------------ | -
| |                                                              |  | December 31, |   |  | December 31, |  
| |                                                              |  | 2017         |   |  | 2016         |  
| |                                                              |  | **$**        |   |  | **$**        |  
| | Loss before income taxes                                     |  | 683,299      |   |  | 224,112      |  
| |                                                              |  |              |   |  |              |  
| | Statutory tax rate                                           |  | 26%          |   |  | 26%          |  
| | Expected income tax recovery at the statutory
      tax rate |  | (177,658     | ) |  | (58,269      | )
| | Tax pool not recognized                                      |  | 13,511       |   |  | 7,564        |  
| | Other                                                        |  | 164,147      |   |  | 50,705       |  
| | Income tax recovery                                          |  | -            |   |  | -            |  

The Company has the following deferred
tax assets and liabilities:

| |                                      |  | December 31, |   |  | December 31, |  
| | ------------------------------------ |  | ------------ | - |  | ------------ | -
| |                                      |  | 2017         |   |  | 2016         |  
| |                                      |  | **$**        |   |  | **$**        |  
| | Federal investment tax
      credits |  | 663,144      |   |  | 663,144      |  
| | Exploration and evaluation assets    |  | 3,804,616    |   |  | 3,674,149    |  
| | Non-capital loss
      carryforwards |  | 4,129,727    |   |  | 4,056,879    |  
| | Other                                |  | 84,875       |   |  | 85,439       |  
| | Valuation allowance                  |  | (8,682,363   | ) |  | (8,479,611   | )
| |                                      |  | -            |   |  | -            |  

The tax pools relating to these
deferred tax assets expire as follows:

| |        |  |                |  |  |                    |  |  |         |  |  | Canadian federal            | 
| | ------ |  | -------------- |  |  | ------------------ |  |  | ------- |  |  | --------------------------- | 
| |        |  | Canadian       |  |  |                    |  |  |         |  |  | investment tax
      credit | 
| |        |  | resource pools |  |  | Non-capital losses |  |  | Other   |  |  | losses                      | 
| |        |  | **$**          |  |  | **$**              |  |  | **$**   |  |  | **$**                       | 
| | 2025   |  | -              |  |  | -                  |  |  | -       |  |  | 25,187                      | 
| | 2026   |  | -              |  |  | 1,664,306          |  |  | -       |  |  | 92,277                      | 
| | 2027   |  | -              |  |  | 3,323,364          |  |  | -       |  |  | 58,467                      | 
| | 2028   |  | -              |  |  | 2,559,941          |  |  | -       |  |  | 237,882                     | 
| | 2029   |  | -              |  |  | 2,621,029          |  |  | -       |  |  | 249,331                     | 
| | 2030   |  | -              |  |  | 2,388,895          |  |  | -       |  |  | -                           | 
| | 2031   |  | -              |  |  | 1,392,745          |  |  | -       |  |  | -                           | 
| | 2032   |  | -              |  |  | 818,329            |  |  | -       |  |  | -                           | 
| | 2033   |  | -              |  |  | 202,411            |  |  | -       |  |  | -                           | 
| | 2034   |  | -              |  |  | 266,149            |  |  | -       |  |  | -                           | 
| | 2035   |  | -              |  |  | 173,814            |  |  | -       |  |  | -                           | 
| | 2036   |  | -              |  |  | 152,243            |  |  | -       |  |  | -                           | 
| | 2037   |  | -              |  |  | 320,131            |  |  | -       |  |  | -                           | 
| | No     |  |                |  |  |                    |  |  |         |  |  |                             | 
| | expiry |  | 14,633,140     |  |  | -                  |  |  | 335,907 |  |  | -                           | 
| |        |  | 14,633,140     |  |  | 15,883,566         |  |  | 335,907 |  |  | 663,144                     | 

17

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

|10. | Share capital
|--- | -------------

Authorized share capital

Unlimited number of common shares
without par value.

Issued share capital

On August 28, 2017, the Company
consolidated its common shares on a basis of one (1) new common share for two
(2) old common shares held. Reference to common shares, per share amounts and
other securities have been retroactively restated.

At December 31, 2017 there were
40,664,015 issued and fully paid common shares (2016  21,537,349).

Financings

During the year ended December 31,
2017, the following equity financings were completed:

| | I)   | On August 30, 2017, the Company closed a private
      placement of 8,333,333 units at a price of $0.06 per unit for gross
      proceeds of $500,000. Each unit consists of one common share and one share
      purchase warrant exercisable into one common share at a price of $0.07
      during the first year and $0.08 during years two and three. The Company
      used the residual method to value the share purchase warrants, allocating
      a value of $nil. As part of the private placement, the Company incurred
      other cash issuance costs of $4,575.                                                                                                                                                                       
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | II)  | On October 24, 2017, the Company closed a private
      placement of 6,750,000 units at a price of $0.35 per unit for gross
      proceeds of $2,362,500. Each unit consists of one common share and one
      half of one share purchase warrant. Each whole warrant is exercisable into
      one common share at a price of $0.45 with an expiry date of three years
      after the closing date. The Company used the residual method to value the
      share purchase warrants, allocating a value of $nil.                                                                                                                                                                                                                                    
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| |      | As part of the private placement, the Company paid
      $126,313 in finders fees and other cash issuance costs of $16,663. In
      addition, the Company issued 396,000 in broker warrants with an expiry
      date of one year after the closing date. The fair value of $111,210 for
      the broker warrants was estimated using the Black-Scholes Option Pricing
      Model and was charged to share issue costs and credited to contributed
      surplus. The assumptions used in the Black-Scholes Option Pricing Model
      were as follows: share price of $0.54; exercise price of $0.35; expected
      volatility of 100%; expected life of 1 year; a risk-free interest rate of
      0.73%; and an expected dividend rate of nil.
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | III) | On December 20, 2017, the Company closed a private
      placement of 1,813,333 units at a price of $0.60 per unit for gross
      proceeds of $1,088,000. Each unit consists of one common share and one
      half of one share purchase warrant. Each whole warrant is exercisable into
      one common share at a price of $0.70 with an expiry date of three years
      after the closing date. The Company used the residual method to value the
      share purchase warrants, allocating a value of
$36,267.                                                                                                                                                                                                                                

18

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

As part of the private placement, the
Company paid $59,160 in finders fees and other cash issuance costs of $2,306.
In addition, the Company issued 98,600 in broker warrants with an expiry date of
one year after the closing date. The fair value of $18,762 for the broker
warrants was estimated using the Black-Scholes Option Pricing Model and was
charged to share issue costs and credited to contributed surplus. The
assumptions used in the Black-Scholes Option Pricing Model were as follows:
share price of $0.58; exercise price of $0.70; expected volatility of 100%;
expected life of 1 year; a risk-free interest rate of 0.73%; and an expected
dividend rate of nil.

| | IV) | On December 27, 2017, the Company closed a private
      placement of 1,250,000 units at a price of $0.60 per unit for gross
      proceeds of $750,000. Each unit consists of one common share and one half
      of one share purchase warrant. Each whole warrant is exercisable into one
      common share at a price of $0.70 with an expiry date of three years after
      the closing date. The Company used the residual method to value the share
      purchase warrants, allocating a value of $nil.                                                                                                                                                                                                                                  
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |     | As part of the private placement, the Company paid
      $45,000 in finders fees and other cash issuance costs of $3,050. In
      addition, the Company issued 75,000 in broker warrants with an expiry date
      of one year after the closing date. The fair value of $22,333 for the
      broker warrants was estimated using the Black-Scholes Option Pricing Model
      and was charged to share issue costs and credited to contributed surplus.
      The assumptions used in the Black- Scholes Option Pricing Model were as
      follows: share price of $0.74; exercise price of $0.70; expected
      volatility of 100%; expected life of 1 year; a risk-free interest rate of
      0.73%; and an expected dividend rate of nil.

During the year ended December 31,
2016, the following equity financings were completed:

| | I)  | In March 2016, the Company closed a private placement of
      9,120,000 units at a price of $0.02 per unit for gross proceeds of
      $182,400. Each unit consists of one common share and one share purchase
      warrant exercisable into one common share at a price of $0.10 for a period
      of five years after the closing date. The Company did not separately value
      the warrants issued as part of this private placement. Included in the
      private placement were 2,700,000 shares issued to officers and directors
      of the Company. As part of the private placement, the Company paid $1,800
      in finders fees and issued 90,000 in broker warrants with an expiry date
      of one year after the closing date. The Company determined that the value
      of the broker warrants was insignificant.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | II) | In April 2016, the Company closed a private placement of
      3,380,000 units at a price of $0.02 per unit for gross proceeds of
      $67,600. Each unit consists of one common share and one share purchase
      warrant exercisable into one common share at a price of $0.10 for a period
      of five years after the closing date. The Company did not separately value
      the warrants issued as part of this private placement. As part of the
      private placement, the Company paid $2,816 in finders fees and issued
      10,800 in broker warrants with an expiry date of one year after the
      closing date. The Company determined that the value of the broker warrants
      was insignificant.                                                                                                                

Basic and diluted loss per share

The calculation of basic and diluted
loss per share for the year ended December 31, 2017 was based on the loss
attributable to common shareholders of $683,299 (2016 - $224,112) and the
weighted average number of common shares outstanding of 25,986,111 (2016 
18,347,211).

19

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

Diluted loss per share did not include
the effect of 2,662,500 stock options and 25,454,600 warrants as the effect
would be anti-dilutive.

Stock options

The Company has adopted an incentive
stock option plan, which provides that the Board of Directors of the Company may
from time to time, in its discretion, and in accordance with the Exchange
requirements, grant to directors, officers, employees and technical consultants
to the Company, non-transferable stock options to purchase common shares,
provided that the number of common shares reserved for issuance will not exceed
10% of the Companys issued and outstanding common shares. Such options will be
exercisable for a period of up to 5 years from the date of grant. In connection
with the foregoing, the number of common shares reserved for issuance to any one
optionee will not exceed five percent (5%) of the issued and outstanding common
shares and the number of common shares reserved for issuance to all investor
relations and technical consultants will not exceed two percent (2%) of the
issued and outstanding common shares. Options may be exercised no later than 90
days following cessation of the optionees position with the Company or 30 days
following cessation of an optionee conducting investor relations activities
position.

On exercise, each option allows the
holder to purchase one common share of the Company. The changes in options
during the years ended December 31, 2017 and 2016 are as follows:

| |                                      |  | Year ended        |   |   | Year ended        | 
| | ------------------------------------ |  | ----------------- | - | - | ----------------- | 
| |                                      |  | December 31, 2017 |   |   | December 31, 2016 | 
| |                                      |  |                   |   |   | Weighted          | 
| |                                      |  |                   |   |   | average           | 
| |                                      |  | Number of         |   |   | exercise          | 
| |                                      |  | options           |   |   | price             | 
| | Options outstanding,
      beginning |  | 1,640,000         |   | $ | 0.19              | 
| | Options granted                      |  | 1,150,000         |   |   | 0.50              | 
| | Options exercised                    |  | (125,000          | ) |   | 0.10              | 
| | Options expired/forfeited            |  | (2,500            | ) |   | 1.00              | 
| | Options outstanding, ending          |  | 2,662,500         |   | $ | 0.33              | 
| |                                      |  |                   |   |   |                   | 
| | Options exercisable, ending          |  | 2,602,500         |   | $ | 0.32              | 

The weighted average share price on the
date of option exercise during the year ended December 31, 2017 was $0.56.

Details of options outstanding as at
December 31, 2017 are as follows:

| | Weighted average |  | Weighted average |  |  | Number of options | 
| | ---------------- |  | ---------------- |  |  | ----------------- | 
| | exercise price   |  | contractual life |  |  | outstanding       | 
| | $1.00            |  | 0.01 years       |  |  | 162,500           | 
| | $0.10            |  | 3.50 years       |  |  | 1,350,000         | 
| | $0.22            |  | 4.70 years       |  |  | 100,000           | 
| | $0.40            |  | 4.76 years       |  |  | 550,000           | 
| | $0.60            |  | 4.81 years       |  |  | 325,000           | 
| | $0.80            |  | 4.87 years       |  |  | 175,000           | 
| | $0.19            |  | 3.50 years       |  |  | 2,662,500         | 

20

---

|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

Stock-based compensation

During the year ended December 31,
2017, the Company granted 1,150,000 stock options (2016  1,475,000 stock
options), the weighted average grant date fair value of the options was $0.32
per option (2016 - $0.04 per option). The fair value was determined using the
Black-Scholes option pricing model using the following weighted average
assumptions:

| |                          |  | 2017    |  |  | 2016    | 
| | ------------------------ |  | ------- |  |  | ------- | 
| | Share price              |  | $0.44   |  |  | $0.06   | 
| | Exercise price           |  | $0.50   |  |  | $0.10   | 
| | Expected life of options |  | 5 years |  |  | 5 years | 
| | Annualized volatility    |  | 100%    |  |  | 102%    | 
| | Risk-free interest rate  |  | 1.60%   |  |  | 0.62%   | 
| | Dividend rate            |  | 0%      |  |  | 0%      | 

During the year ended December 31,
2017, the Company recorded $360,493 (2016 - $42,831) of stock-based compensation
to the statement of loss and comprehensive loss based on the vesting of stock
options granted.

Warrants

On exercise, each warrant allows the
holder to purchase one common share of the Company. The changes in warrants
outstanding during the years ended December 31, 2017 and 2016 are as follows:

| |                                       |  | Year              |   |   | Year ended        | 
| | ------------------------------------- |  | ----------------- | - | - | ----------------- | 
| |                                       |  | December 31, 2017 |   |   | December 31, 2016 | 
| |                                       |  |                   |   |   | Average           | 
| |                                       |  | Number of         |   |   | exercise          | 
| |                                       |  | warrants          |   |   | price             | 
| | Warrants outstanding,
      beginning |  | 13,444,147        |   | $ | 0.10              | 
| | Warrants issued                       |  | 13,809,600        |   |   | 0.25              | 
| | Warrants exercised                    |  | (855,000          | ) |   | 0.06              | 
| | Warrants expired                      |  | (944,147          | ) |   | 0.10              | 
| | Warrants outstanding, ending          |  | 25,454,600        |   | $ | 0.18              | 

Details of warrants outstanding as at
December 31, 2017 are as follows:

| | Weighted average |  | Weighted average |  |  | Number of warrants | 
| | ---------------- |  | ---------------- |  |  | ------------------ | 
| | exercise price   |  | contractual life |  |  | outstanding        | 
| | $0.35            |  | 0.81 years       |  |  | 396,000            | 
| | $0.70            |  | 0.98 years       |  |  | 173,600            | 
| | $0.07            |  | 2.67 years       |  |  | 7,583,333          | 
| | $0.45            |  | 2.82 years       |  |  | 3,375,000          | 
| | $0.70            |  | 2.98 years       |  |  | 1,531,667          | 
| | $0.10            |  | 3.27 years       |  |  | 12,395,000         | 
| | $0.18            |  | 2.95 years       |  |  | 25,454,600         | 

Refer to Note 17  Subsequent Events.

21

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|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

|    |                            
|--- | ---------------------------
|11. | Share-based payment
reserve

The share-based payment reserve records
items recognized as stock-based compensation expense and the fair value of
agents warrants until such time that the stock options or warrants are
exercised, at which time the corresponding amount will be transferred to share
capital.

|12. | Related party
transactions
|--- | --------------------------

| |                          |  | December 31, |  |  | December 31, | 
| | ------------------------ |  | ------------ |  |  | ------------ | 
| |                          |  | 2017         |  |  | 2016         | 
| |                          |  | **$**        |  |  | **$**        | 
| | Consulting fees          |  | 2,500        |  |  | 8,000        | 
| | Interest expense         |  | 551          |  |  | -            | 
| | Management fees          |  | 53,600       |  |  | 18,000       | 
| | Stock-based compensation |  | 41,163       |  |  | 28,312       | 
| |                          |  | 97,814       |  |  | 54,312       | 

There were no amounts owing to related
parties at December 31, 2017 or 2016. See also Note 10.

Key management includes the Chief
Executive Officer, the Chief Financial Officer and the directors of the Company.
Compensation paid or payable to key management for services during the year
amounted to $37,700 (2016 - $17,000) for short-term benefits and $41,163 (2016 -
$23,231) for stock-based compensation.

|13. | Financial instruments and financial risk
      management
|--- | ---------------------------------------------------------

The Company is exposed in varying
degrees to a variety of financial instrument related risks. The Board of
Directors approves and monitors the risk management processes, inclusive of
documented investment policies, counterparty limits, and controlling and
reporting structures. The type of risk exposure and the way in which such
exposure is managed is provided as follows:

Credit risk

Credit risk is the risk that one party
to a financial instrument will fail to discharge an obligation and cause the
other party to incur a financial loss. The Companys primary exposure to credit
risk is on its cash held in bank accounts. All of the cash is deposited in bank
accounts held with one major bank in Canada. Since all of the Companys cash is
held by one bank there is a concentration of credit risk. This risk is managed
by using major banks that are high credit quality financial institutions as
determined by rating agencies. The Companys secondary exposure to risk is on
its other receivables. This risk is minimal as receivables consist primarily of
refundable government taxes.

Liquidity risk

Liquidity risk is the risk that the
Company will not be able to meet its financial obligations as they fall due. The
Company has a planning and budgeting process in place to help determine the
funds required to support the Companys normal operating requirements on an
ongoing basis. The Company ensures that there are sufficient funds to meet its
short-term business requirements, taking into account its anticipated cash flows
from operations and its holdings of cash and cash equivalents.

Historically, the Company's sole source
of funding has been the issuance of equity securities for cash, primarily
through private placements. The Companys access to financing is always
uncertain. There can be no assurance of continued access to significant equity
funding.

22

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|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

The following is an analysis of the
contractual maturities of the Companys non-derivative financial liabilities as
at December 31, 2017:

| |                                        |   | Within one |  |   | Between one |  |   |            | 
| | -------------------------------------- | - | ---------- |  | - | ----------- |  | - | ---------- | 
| |                                        |   | year       |  |   | and five    |  |   | More than  | 
| |                                        |   |            |  |   | years       |  |   | five years | 
| | Trade payables and accrued liabilities | $ | 144,982    |  | $ | -           |  | $ | -          | 

Foreign exchange risk

Foreign currency risk is the risk that
the fair values of future cash flows of a financial instrument will fluctuate
because they are denominated in currencies that differ from the respective
functional currency. The Company does not have any direct exposure to foreign
exchange risk.

Interest rate risk

Interest rate risk is the risk that the
fair value of future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. The Company does not have any significant
interest rate risk.

Classification of financial
instruments

Financial assets included in the
statement of financial position are as follows:

| |                           |   | December 31, |  |   | December 31, | 
| | ------------------------- | - | ------------ |  | - | ------------ | 
| |                           |   | 2017         |  |   | 2016         | 
| | Cash and cash equivalents | $ | 4,066,588    |  | $ | 85,758       | 
| | Loans and receivables:    |   |              |  |   |              | 
| | Reclamation deposits      |   | 187,900      |  |   | 187,900      | 
| |                           | $ | 4,254,488    |  | $ | 273,658      | 

Financial liabilities included in the
statement of financial position are as follows:

| |                                             |   | December 31, |  |   | December 31, | 
| | ------------------------------------------- | - | ------------ |  | - | ------------ | 
| |                                             |   | 2017         |  |   | 2016         | 
| | Non-derivative financial
      liabilities: |   |              |  |   |              | 
| | Trade payables and accrued liabilities      | $ | 144,982      |  | $ | 14,970       | 

Fair value

The fair value of the Companys
financial assets and liabilities approximates the carrying amount. Financial
instruments measured at fair value are classified into one of three levels in
the fair value hierarchy according to the relative reliability of the inputs
used to estimate the fair values. The three levels of the fair value hierarchy
are:


    Level 1  Unadjusted quoted prices in active
      markets for identical assets or liabilities;
    Level 2  Inputs other than quoted prices that
      are observable for the asset or liability either directly or indirectly;
      and
    Level 3  Inputs that are not based on
      observable market data.


23

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|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

The following is an analysis of the
Companys financial assets measured at fair value as at December 31, 2017 and
2016:

| |      |   | As at December
      31, 2017 | 
| | ---- | - | ----------------------------- | 
| |      |   | Level 1                       | 
| | Cash | $ | 4,066,588                     | 

| |      |   | As at December
      31, 2016 | 
| | ---- | - | ----------------------------- | 
| |      |   | Level 1                       | 
| | Cash | $ | 85,758                        | 

|14. | Capital management
|--- | ------------------

The Company's policy is to maintain a
strong capital base so as to maintain investor and creditor confidence,
safeguard the Companys ability to support the exploration and development of
its exploration and evaluation assets and to sustain future development of the
business. The capital structure of the Company consists of equity and debt
obligations, net of cash.

There were no changes in the Company's
approach to capital management during the year ended December 31, 2017 and no
restrictions.

|15. | Supplemental cash flow
  information
|--- | ------------------------------------

Investing and financing activities that
do not have a direct impact on current cash flows are excluded from the
statements of cash flows. During the year ended December 31, 2017, the following
transactions were excluded from the statement of cash flows:

| | a) | The issuance of 569,600 broker warrants at the fair value
      of $152,305.
| | -- | ----------------------------------------------------------------------------

|16. | Segmented information
|--- | ---------------------

Operating segments

The Company operates in a single
reportable operating segment  the acquisition, exploration and development of
mineral properties.

Geographic segments

All of the Company's assets are located
in Canada.

|17. | Subsequent events
|--- | -----------------

Private placement

In January 2018, the Company completed
a non-brokered private placement of 960,000 units at a price of $0.60 per unit
for gross proceeds of $576,000. Each unit consisted of one common share and
one-half share purchase warrant. Each full warrant is exercisable into one
common share at a price of $0.70 for three years after the closing date. As part
of the private placement, the Company paid $22,080 in finders fees. In
addition, the Company issued 36,800 in broker warrants with an expiry date of
one year after the closing date. As at December 31, 2017, proceeds of $27,000
had been received as subscriptions for this private placement.

24

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|Giga Metals Corporation                             
|----------------------------------------------------
|(Formerly Hard Creek Nickel Corporation)            
|Notes to the Consolidated Financial Statements      
|Expressed in Canadian Dollars                       
|For the years
      ended December 31, 2017 and 2016

Exercise of warrants

Subsequent to December 31, 2017, the
Company issued 300,000 common shares for the exercise of 300,000 share purchase
warrants at $0.10 and 100,000 common shares for the exercise of 100,000 share
purchase warrants at $0.07.

Grant of options

On February 5, 2018, the Company
granted 850,000 stock options to directors, officers, employees and consultants
at a price of $0.55 per share exercisable up to February 5, 2023. Of the 850,000
stock options granted, 600,000 vested immediately and the remaining 250,000 vest
as to 25% every three months from the date of grant.

On April 3, 2018, the Company granted
200,000 stock options to an employee at a price of $0.60 per share exercisable
up to April 3, 2023. The options vest as to 25,000 on the date of grant and
25,000 every three months thereafter.

On April 20, 2018, the Company granted
75,000 stock options to an officer and a consultant at a price of $0.60 per
share exercisable up to April 20, 2023. The options vest on October 20, 2018.

25

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