Niobay and Midland Commence Drilling Campaign ON LA Peltrie
Press release
TSX-V: NBY
NIOBAY AND MIDLAND COMMENCE DRILLING CAMPAIGN ON LA PELTRIE
Montreal, October 10, 2017 . Niobay Metals Inc. (“NioBay” or the “Company”) (TSX -V: NBY) is
pleased to announce the commencement of a diamond drilling campaign on the La Peltrie gold
property located in Québec , on which Niobay can earn an interest of up to 65%. The La Peltrie
property is currently wholly -owned by Midland Exploration Inc. (“Mid land”). See press release of
September 6, 2017 for details of the option agreement with Midland. The La Peltrie property consists
of 520 claims totalling approximately 288 square kilometres and covers, over more than 25
kilometres, a series of NW -SE-trending subsidiary faults to the south of the regional Lower Detour
Fault.
This drilling campaign will include a min imum of six (6) drill holes totalling 1,500 metres. The
program is mainly designed to test new structural, geological, and geophysical targets identified
following compilation work and OreVision ® IP geophysical surveys conducted in 2016 and 2017 by
Midland. These new high -priority targets include a major interpreted structure trending NW -SE,
cross-cutting at a shallow angle a gold-bearing iron formation where historical drilling yielded grades
of 0.24 g/t Au over 19.50 metres (drill hole 11 -493-01) and 0.35 g/t Au over 9.30 metres (drill hole
11-493-02). Midland will be the operator of the exploration program.
The La Peltrie property is located approximately 25 kilometres southeast of Zone 58N, a high -grade
gold zone in the Lower Detour area held by Detour Gold Corp., about 25 kilometers northwest of
the former Selbaie Mine, which historically produced 56.5 million tonnes grading 1.9% Zn, 0.9% Cu,
38.0 g/t Ag and 0.6 g/t Au, and next to the B26 deposit currently held by SOQUEM. (Niobay cautions
that the mineralization at Zone 58N, at the former Selbaie Mine and at the B26 deposit may not be
indicative of the mineralization that may be identified on the La Peltrie property.)
Maps showing the location of the La Peltrie property may be co nsulted using the following link:
http://media3.marketwire.com/docs/LaPeltrieSeptember2017V4.pdf
This press release was prepared by Claude Dufresne, P. Eng. , mining engineer and Qualified Person
as defined by NI 43-101.
About NioBay Metals Inc.
NioBay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay
Niobium property in Ontario, Canada and a 72.5% interest in the Crevier niobium/tantalum resource
in Québec, Canada. The Company is also actively reviewing the potential of other mineral properties,
including the La Peltrie property, and other properties in Quebec jointly held with SOQUEM.
Cautionary Statement
Certain statements contained in this press release constitute forward looking information under the
provisions of Canadian securities laws. Forward looking information contain ed in this press release
includes statements with respect to the potential mineralization and geological merits of the La
Peltrie project. These statements are subject to a variety of risks and uncertainties including, without
limitation: risks and uncertainties relating to the interpretation of geological data; the possibility that
future exploration results will not be consistent with the Company's expectations; risks related to
the ability to obtain financing needed to fund the exercise of the option and the exploration and
development of the project; market conditions and volatility and global economic conditions; and
several risks related to the nature of mineral exploration and development. Such statements reflect
the Company's views as at the date of this press release. The Company does not intend and does not
assume any obligation to update these forward -looking statements and information, except as
required by law.
Neither the TSX Venture Exchange nor its Regulation Servi ces Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this
release.
For more information, contact:
Claude Dufresne, P.Eng.
President & CEO
NioBay Metals Inc.
Tel.: 514 866-6500, Ext. 2221
Email: [email protected]
Website: www.niobaymetals.com