The wing-back has progressed through the Wolves Academy system and made his first-team debut against the Shrews in the FA Cup earlier this year.
Giles played a starring role in Rob Edwards’ under-23 side earning promotion to Premier League 2 Division 1, featuring 19 times at left wing-back or further forward.
The 19-year-old netted against West Bromwich Albion and at Lincoln City in the Checkatrade Trophy, as well as laying on crucial assists for his team mates throughout the campaign.
Now he links up with former Wolves defender Sam Ricketts, who is Shrews boss, as well as former players Dave Edwards and Ethan Ebanks-Landell, who now ply their trade for the Shropshire club.
On the move, Academy manager Scott Sellars said: “Sam (Ricketts) did a big sell on wanting ‘Gilo’ and explained how he’d knit into how they wanted to play and how he fits in as a wing-back, so for his continued development I think it will be excellent.
“To be involved in a first-team every day is important. He’s got to cement a place in the team, there’s no guarantees, but to be in that environment is the perfect next step for him.
“Everyone who watches him sees his pace and fantastic crossing ability on the move. I think his defensive game has improved massively over the last 12 months. He’s had his exposure with the first-team, he’s made his debut, so he’s progressing really well.
“From our point of view, it’s not far away for him, so he can live at home. Sam coached in our Academy, so knows ‘Gilo’ and we know what Sam is like as a coach and how he wants to play, so it all makes sense and is hopefully the start of a good relationship between the two clubs.”