NioBay Metals Provides Update on its Activities
Press release
TSX-V: NBY OTCQB:NBYCF
NioBay Metals Provides Update on its Activities
Montreal, Quebec, April 28, 2022 – NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V:
NBY) (OTCQB: NBYCF) provides the following update on its activities.
James Bay Niobium Project
NioBay announced the suspension of its exploration activities on the James Bay Project (press
release March 17, 2022) following the reception of a letter from the board of the Moose Cree
First Nation (MCFN). Since this date, we have continued our efforts with local authorities and
members of the MCFN community as well as with the Ontario government to resume normal
operations. NioBay has a mining lease, a valid exploration permit and an agreement with
MCFN to carry out this second drilling campaign. However, NioBay will return and is ready to
return to the field as soon as it obtains a guarantee that it can complete its work without
interruption.
Pending further drilling in Ontario, the Company will take advantage of the other projects in
its portfolio and advance exploration initiatives.
Crevier Project
NioBay continued its metallurgical work to optimize the economics of th is project. With the
assistance of the Quebec government, a series of metallurgical tests were conducted at
COREM in 2021. Based on the success of these tests, they continued into 2022 and are
currently in progress at the SGS laboratories in Quebec City. The results of this work will allow
us to update our preliminary economic study (PEA), previously released in 2020.
The objective of the Crevier Project is to produce a niobium oxide and a tantalum oxide. Given
the advances in the use of niobium in batteries, the Crevier Project, with its niobium oxide,
has never been more relevant. Moreover, since this project’s PEA was released, the price of
tantalum has risen by $30,000 per metric ton.
Gouin Project
NioBay optioned two properties from Les Ressources Tectonic inc. (press release of May 10,
2021) and conducted a series of exploration works in the summer of 2021. The results of the
work identified 2 targets on the Gouin West property and 6 targets on the Gouin East property
showing niobium potential. NioBay intends to continue its exploration work during the
summer and fall of 2022 to further investigate the identified targets. Details of this
exploration campaign will be presented later in the quarter.
Resource reallocation
NioBay will take advantage of the opportun ities available to it with its various properties
located in Quebec. As such, the Company will make changes to the allocation of financial and
human resources to maximize its financial flexibility. With this in mind, we have terminated
the consulting agreement with Derek Teevan, Vice-President, ESG & Communities and thank
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him for his services. As at March 31, 2022, the Company has approximately $ 9.0 million of
cash on hand.
About NioBay Metals Inc.
NioBay is a company focused on exploration, development and use of critical green metals
with an Environmentally, Sustainable, Governance, and Indigenous (ESGI) focus.
The Company holds a 100% interest in the James Bay Niobium Project located 45 km south of
Moosonee, in the MCFN 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 Quebec
and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.
About Niobium
Niobium is a naturally occurring element. It is a readily available, reliable, soft 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 smarter and lower environmental
impacts, while also delivering other benefits like better performance, improved safety, and
increased value.
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, assumptions, 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 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 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.
Jean-Sebastien David, geo.
President & CEO
Tel.: 514 866-6500
www.niobaymetals.com
Paradox Public Relations
Tel: (514) 341-0408 or 1-866-460-0408