Niobay Intercepts Historical Grades ON Its Crevier Project and Confirms the Extension of the Mineralized Zone
Press Release
TSX-V: NBY & OTCQB : NBYCF
NIOBAY INTERCEPTS HISTORICAL GRADES ON ITS CREVIER PROJECT AND CONFIRMS
THE EXTENSION OF THE MINERALIZED ZONE
Montreal, Québec, February 29, 2024 - NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY)
(OTCQB: NBYCF) is pleased to announce the latest results of the fall 2023 drilling campaign, on the
Crevier niobium & tantalum project (the “Crevier Project”), of which the Company holds a 72.5%
interest. The Crevier Project is located approximat ely 50 km north of the to wn of Girardville and
approximately 150 km from the Niobec mine. It is lo cated in the Nitassinan (or ancestral territory) of
the Pekuakamiulnuatsh, whose main population center is Mashteuiatsh.
Updated results of the 2023 drilling program on the Crevier Project
The Company completed a drilling campaign at the e nd of September 2023. This eight-hole campaign
(2,700 m, consisted of verifying the continuity of the mineralization in the northwest, southeast and at
depth sectors of the main area. The latest results of this campaign were received and we are taking the
opportunity to highlight the important interception s for the entire campaign. In addition, we have
modified the hole identification numbers for the co mpleted drill holes. The best intersections, using a
cut-off of 0.2% (2000 ppm) of Nb 2O5, have been presented, whereas a cut-off of 0.1% was used in the
previous press release (January 8, 2024).
This campaign allows us to note the presence of tantalum mineralization in the northwest extension of
the main zone and a higher concentration of niobium towards the southeast. In addition, the last hole
shows mineralization, leaving this area open.
Table 1: Composites of intercepted mineralization
Hole ID From
(m) To (m) Length Nb 2O5 (m) Nb 2O5 (%) Length Ta 2O5 (m) Ta 2O5 (%)
1532-23-011
0,45 1,45 1,00 0,83
5,45 10,30 4,85 0,27 4,85 0,03
16,00 24,50 8,50 0,35 8,50 0,04
18,50 21,00 2,50 0,53 2,50 0,06
30,90 33,24 2,34 0,45
37,28 6,38 0,03
39,00 40,00 1,00 0,29
44,25 5,25 0,03
45,25 52,00 6,75 0,22
46,25 49,25 3,00 0,03
51,00 52,00 1,00 0,02
53,50 57,00 3,50 0,24
59,30 60,30 1,00 0,38 1,00 0,03
72,86 75,27 2,41 0,02
93,70 99,50 5,80 0,03
126,00 127,00 1,00 0,02
170,00 171,00 1,00 0,03
230,00 232,00 2,00 0,25
1532-23-012
90,00 93,87 3,87 0,21
95,55 96,70 1,15 0,30
98,75 99,75 1,00 0,22
104,80 107,00 2,20 0,38
112,20 7,40 0,03
109,50 114,40 4,90 0,26
119,50 124,35 4,85 0,31
121,35 3,00 0,04
128,90 132,70 3,80 0,29
129,9 1,00 0,03
149,50 154,93 5,43 0,31
153,00 1,93 0,02
160,00 161,70 1,70 0,45 1,70 0,04
164,50 173,00 8,50 0,31 8,50 0,03
174,00 180,00 6,00 0,06
175,00 5,00 0,50
175,00 176,00 1,00 1,06 1,00 0,13
178,00 180,00 2,00 0,60 2,00 0,08
181,00 186,40 5,40 0,22 5,40 0,03
381,70 382,80 1,10 0,03
392,30 393,30 1,00 0,03
1532-23-013
115,45 124,05 8,60 0,04
116,45 122,40 5,95 0,22
122,80 124,05 1,25 0,28
127,50 130,50 3,00 0,20 3,00 0,02
153,50 154,50 1,00 0,20 1,00 0,03
166,50 169,50 3,00 0,04
168,50 1,00 0,30
1532-23-014
146,00 147,25 1,25 0,04
264,55 265,65 1,10 0,03
277,40 281,40 4,00 0,02
290,40 299,20 8,80 0,03
302,20 303,20 1,00 0,02
1532-23-015
24,10 29,90 1,60 0,04
320,65 321,65 1,00 0,29
325,50 4,85 0,03
326,50 331,60 5,00 0,02
335,60 339,60 4,00 0,03
343,60 349,60 6,00 0,02
347,60 2,00 0,24
1532-23-16*
292,00 293,05 1,05 0,24
297,00 5,00 0,02
301 302,05 1,05 0,03
340,5 343,5 3,00 0,03
1532-23-17*
76,8 77,8 1,00 0,03
82,75 5,95 0,23
83,8 85,8 2,00 0,25
84,8 1,00 0,03
1532-23-018
81,00 82,00 1,00 0,28
146,10 148,70 2,60 0,22
175,75 186,00 10,25 0,37
177,00 9,00 0,04
182,00 186,00 4,00 0,55 4,00 0,05
188,00 194,05 6,05 0,22
192,00 4,00 0,02
196,05 197,05 1,00 0,29 1,00 0,03
* Re-analysis was requested for certain intersections
** Nb2O5 and Ta2O5 are oxide equivalents calculated based on laboratory results of the elements Nb and Ta.
Figure 1: Map of the 2023 drilling campaign
Table 2: Location of drill collars (UTM NAD83)
Hole ID Z (m) Azimuth Dip XNAD83
measured
YNAD83
measured
Length
final
P1532-23-011 440 45 -83 661350 5481589 300
P1532-23-012 409 45 -87 662492 5480479 402
P1532-23-013 370 230 -45 660646 5482470 285
P1532-23-014 369 230 -45 660261 5483267 384
P1532-23-015 369 230 -45 660636 5482764 450
P1532-23-016 365 230 -45 660438 5482995 354
P1532-23-017 380 50 -45 662996 5479817 150
P1532-23-018 379 50 -70 662995 5479818 327
A word from the CEO, Jean-Sebastien David
“We are pleased to announce the final results, and to note that the mineralized zone is open towards
the southeast having intercepted mi neralization in hole (18),” indica tes Jean-Sébastien David, geo.,
president and CEO of NioBay. “Historic grades (highe st grades over more than 1.5m since 2009) were
intercepted in both niobium and tantalum, compared to drilling carried out to date at site. The Crevier
Project has definitely not revealed all its secrets,” concludes Mr. David.
Crevier would be exclusively devoted to the production of niobium oxide for battery manufacturers.
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 developm ent of mine(s) with low carbon consumption and
responsible water and wildlife mana gement practices while prioriti zing 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 Trad itional Territory of the James Bay Lowlands in
Ontario. NioBay also holds a 72.5% interest in th e Crevier Niobium and Tantalum project located in
Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.
About Niobium
Niobium is a naturally occurring element. It is a meta l that is ductile, malleable and highly resistant to
corrosion. Because it enhances prop erties 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 deliv ering other benefits such as better performance,
improved safety and increased value.
Cautionary Statement
Certain statements contained in this press releas e constitute forward-looking information under the
provisions of Canadian securities laws includi ng statements about the Company's plans. Such
statements are necessarily based upon a number of beliefs, assumptions, and opinions of management
on the date the statements are made and are subjec t to numerous risks and uncertainties that could
cause actual results and future events to differ ma terially from those anticipated or projected. The
Company undertakes no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors should change, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts resp onsibility for the adequacy or accuracy of this
release.
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc.
Jean-Sebastien David, geo.
President & Chief Executive Officer
514-866-6500
www.niobaymetals.com
Kimberly Darlington
Investor Relations
514-771-3398