Definitely! Your giveaways can have as many winners as you'd like. When the giveaway is over, simply add the number of winners you'd like by clicking the 'add a winner' button. There is zero correlation between the number of prizes you have in your giveaway & the number of winners you add.
You can have 1 prize and 1 winner, you can have 1 prize and 50 winners, you can have 50 prizes and 1 winner, or you can have 50 winners and 50 prizes.
If you plan on rewarding different prizes to different winners, it's up to you to determine which winner gets which prize.