MONTRÉAL, June 25, 2024 (GLOBE NEWSWIRE) — NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is proud to announce the awarding of a grant as part of the 2^nd call for projects for critical and strategic minerals for its Crevier niobium & tantalum project (the “Crevier Project”). The Crevier Project is located approximately 50 km north of the town of Girardville and approximately 150 km from the Niobec mine. It is located in the Nitassinan (or ancestral territory) of the Pekuakamiulnuatsh, whose main population center is Mashteuiatsh.

Grant

The grant is awarded by the Ministry of Natural Resources and Forests and the “Consortium de recherche et d’innovation en transformation métallique (CRITM)”. The title of the project is: “Demonstration of the niobium-tantalum concentration process on a pilot scale and production of niobium and tantalum oxides from the Crevier Project deposit located in the Lac St-Jean region”.

Message from NioBay’s President and CEO on Crevier

“We are very pleased to announce the award of this important grant for our Company. This announcement demonstrates the importance that the Government of Québec places on the critical and strategic metals sector and the recognition of the qualities of the Crevier Project, which continues to improve as additional work is carried out”, concluded Mr. Jean -Sébastien David.

The work will be carried out entirely in Québec in collaboration with our various partners in this project.

The Crevier Project will focus exclusively on the production of niobium oxide for battery manufacturers as well as tantalum oxide for high-tech applications.

Qualified Person

This press release has been reviewed and approved by Jean-Sébastien David, P.Geo., a qualified person under National Instrument 43-101. Mr. David is President and CEO of NioBay.

About NioBay Metals Inc.

NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate.

In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation. The Company has also the option to acquire a 80% interest in the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Québec.

About Niobium

Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also increased value.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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