Niobay Metals Announces the Receipt of Its Exploration Permit FOR the Jame S BAY Niobium Project
Press release
TSX-V: NBY
NIOBAY METALS ANNOUNCES THE RECEIPT OF ITS EXPLORATION PERMIT FOR THE JAME S BAY
NIOBIUM PROJECT
Montreal, January 30, 201 9. Niobay Metals Inc. (“NioBay ” or the “Company”) (TSX -V: NBY) is pleased to
announce that the Ministry of Energy, Northern Development and Mines (‘’MENDM’’) of Ontario has issued
the exploration permit for an upcoming exploration program at its James Bay Niobium Project. The MENDM
has lifted the temporary hold that had been put in place on NioBay’s exploration application filed in October
2016. The exploration permit is subject to certain terms and conditions in order to mitigate any potential
adverse impact on the environment.
The main objective of the drilling program is to test the continuity of the high-grade zones of the deposit
both laterally and at depth. The recovered core will also allow the Company to continue the metallurgy
testing on the ore of the Project. A total of 3,000 meters over 8 holes are planned for this program.
The Company plans to ho st an information session with the Moose Cree First Nation leadership before
commencing the drilling program . The specific timing of the program will be determined later but we are
planning for a summer program.
Further, the Company is also pleased to announce the opening of an Information Center in Moosonee. The
purpose of the Center is to provide information to the local community on the James Bay Project in general
and the proposed drilling program.
James Bay Niobium Resources
The latest mineral resource estimate for the Project was completed in October 2018 by Roscoe Postle
Associates Inc. following a successful re-logging and re-sampling program of representative historical diamond
drill holes conducted by NioBay. The report estimates Ind icated mineral resources of 26.1 million tonnes
containing 139 million kilograms of niobium grading 0.53% Nb2O5 and Inferred mineral resources of 25.3
million tonnes containing 129 million kilograms of niobium grading 0.51% Nb2O5 (see November 22, 2018
news release for additional information).
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The technical information contained in this news release has been reviewed and approved by Jacquelin
Gauthier P.Geo., NioBay’s Vice President, Geology. Mr. Gauthier is a qualified person as defined in NI 43-101.
About NioBay Metals Inc.
NioBay Metals Inc. is a mining exploration company holding 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 Quebec and a 49% direct participation in certain
mineral titles located in the Chibougamau region, Quebec, under a joint venture agreement with SOQUEM.
Cautionary Statement
Certain state ments contained in this press release constitute forward-looking information under the
provisions of Canadian securities laws. Such statements include, without limitation, the statements regarding
the proposed drilling program and the mineral resource estimate. Such statements are necessarily based upon
a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause
actual results and future events to differ materially from those anticipated or projected. There can be no
assurance that such statements will prove accurate.
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:
Claude Dufresne, P.Eng.
President & CEO
NioBay Metals Inc.
Tel.: 514 866-6500, Ext. 2221
Email: [email protected]
Website: www.niobaymetals.com