NioBay Metals Announces Option Agreement to Acquire Two Properties with Niobium Potential
Press release
TSX-V: NBY
NioBay Metals Announces Option Agreement to Acquire Two Properties with
Niobium Potential
Montreal, Québec, May 10, 2021 – NioBay Metals Inc. ( "NioBay" or the "Company") (TSX-V: NBY)
(OTCQB: NBYCF), an Environmental Sustainable Governance Indigenous (ESGI) Company, is pleased
to announce the signature of an o ption agreement with Les Ressources Tectonic inc. ( "Tectonic") to
acquire a 100% interest in two large properties showing exci ting potential for niobium discovery
(the “Option Agreement”).
The two properties , Gouin East and Gouin West (the “Gouin Properties”), located 150 km south of
Chibougamau, Québec, cover two magnetic anomalies, about 6 X 8 km each, remarkably similar in size
and structure to the magnetic anomaly over the Niobec Mine, the only niobium commercial operation
outside Brazil, located some 200 km east of the Gouin P roperties. The composition of a mineralized
series of small outcrops and boulders, recently discovered at the periphery of the anomalies, strongly
suggest that the magnetic anomalies are produced by an alkaline complex with carbonatites similar
to the alkaline complex hosting the Niobec Mine.
"We are excited with the option agreement , as the Gouin Properties hold the potential of a niobium
discovery in Québec, and will strengthen our "green" portfolio. The Gouin Properties fit into our vision
to become a key player in green metals, supporting low carbon economy ." said Claude Dufresne,
NioBay’s President and CEO.
The Gouin East and Gouin West properties are made of 114 and 96 claims, respectively, covering a
total of 11,650 hectares. These properties are criss-crossed by numerous logging roads at some 75 km
from highway 167 and a railroad. A high-voltage line passes just 20 km to the south. These properties
are located on the territory of the Opitciwan Atikamekw First Nation whose main agglomeration,
Obedjiwan, is about 65 km north-west of the Gouin Properties, on the shore of the Gouin Reservoir.
Limited prospecting works by Tectonic in the last two years led to the discovery of a dozen boulders
and few outcrops on the periphery of the magnetic anomalies. The geological composition ranges
from syenite and calcio-syenite to carbonatite, typical of a carbonatite-rich alkaline complex. Three of
the boulders assayed 0.04%, 0.36% and 0.54% of Nb2O5.
Subject to regulatory approvals from the TSX Venture Exchange, the Option Agreement calls for a total
of $190,000 in cash payments, $430,000 payable at NioBay’s option either in cash or in common
shares of NioBay and $1.65 million in work commitment, over a six-year period. The first installments,
payable upon receipt of regulatory approvals, are $10,000 in cash and $20,000 represented by the
issuance of 22,591 common shares of NioBay. In addition, the Option Agreement provides for a firm
work commitment of $50,000 to be incurred on the Gouin P roperties by August 31, 2021. Upon
exercise of this option, a 1% NSR royalty will be granted to Tectonic, being redeemable by Niobay for
$1.5 million (or $250,000 at any time during the option period).
Qualified Person
This press release was verified and approved by Jacquelin Gauthier, P.Geo. and Qualified Person as
defined by National Instrument 43-101. Mr. Gauthier is the Vice-President Geology of NioBay.
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About NioBay Metals Inc.
NioBay will be a leader in the Environment, Sustainability, Governance and Indigenous inclusion
supporting the development of smart mine(s) with low carbon consumption and responsible water
and wildlife management practices. Critical to our success will be the consent and full participation of
the Indigenous communities territories where we operate. The Company holds a 100% interest in the
James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario.
NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Qu ébec
and a 48% direct participation in mineral titles situated in the Chibougamau region, Qu ébec, under a
joint venture agreement with SOQUEM.
Cautionary Statement
Certain statements contained in this press release constitute forward -looking information under the
provisions of Canadian securities laws including statements about the Company 's plans. Such
statements are necessarily based upon a number of beliefs, assum ptions, and opinions of
management on the date the statements are made and are subject to numerous risks and
uncertainties that could cause actual results and future events to differ materially from those
anticipated or projected. The Company undertakes n o 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 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.
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc.
Claude Dufresne, P.Eng.
President & CEO
Tel.: 514 866-6500
Email: [email protected]
www.niobaymetals.com
Paradox Public Relations
Tel: (514) 341-0408 or 1-866-460-0408