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NBY.V ·

Niobium-Titanium Alloy Demonstrates Its Strong Market Potential IN the Fabrication of Fuel Cells

Corporate Updates

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Press release

TSX-V: NBY & OTCQB: NBYCF

NIOBIUM-TITANIUM ALLOY DEMONSTRATES ITS STRONG MARKET POTENTIAL

IN THE FABRICATION OF FUEL CELLS

Montréal, Québec, September 19, 2024 - NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY)

(OTCQB: NBYCF) is proud to announce the first results of the work it is involved in with the Université

du Québec à Trois -Rivières (UQTR) and the University of Waterloo on the valorization of critical and

strategic metals encountered in NioBay's projects.

Work

Metallic bipolar plates are crucial for the development of compact and lightweight proton exchange

membrane fuel cell sacks; however, most of them encounter durability and conductivity challenges in

the fuel cell environment. In this study, Nb- Ti alloy/Pt coatings are deposited on SS316L plates to

enhance corrosion resistance, surface wettability, electrical and thermal conductivity, with reduced

interfacial contact resistance.

The work was directed by Professors Samaneh Shahgaldi of UQTR and Xianguo Li of the University of

Waterloo, and carried out as part of Mr. Pramoth Varsan Madhavan's doctoral thesis.

Results

Amongst other results, t he incorporation of Nb- Ti alloy/Pt coatings on SS316L increases the in -plane

electrical conductivity by 42.6 % and thermal conductivity by 3.5 %, surpassing the US Department of

Energy’s technical targets in these categories. These results indicate the viability of Nb- Ti alloy/Pt

coated SS316L bipolar plates for fuel cell applications.

The work was published in the journal: “Energy Conversion and Management 311 (2024) 118536”. The

full article can be found on the NioBay website under R&D project.

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Extracted from the Journal: Fig. 9. (a) In-plane electrical conductivity and (b) thermal conductivity of

the uncoated and Nb-Ti alloy/Pt coated SS316L samples.

Message from NioBay’s President and CEO

“We are very pleased to announce the start of a series of results resulting from the collaboration of

two leading universities in the field of hydrogen research. This work opens new markets for niobium

and titanium”, concludes Jean-Sébastien David.

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.

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About NioBay Metals Inc.

NioBay aims to become a leader in the development of mine(s) with low carbon consumption and

responsible water and wildlife management practices while prioritizing 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 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

Québec and on the Nitassinan territory of the Pekuakaminulnuatsh First Nation. The Company has also

the option to acquire a 80% interest in the Foothills project, a titanium-phosphate project located near

the former St-Urbain mine site in Québec.

About Niobium

Niobium is a naturally occurring element. It is a 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 more efficient

and lowers environmental impacts, while also increased value.

About Titanium

Titanium (Ti) is as strong as steel, but much less dense. It is therefore important as an alloying agent

with many metals, including aluminum, molybdenum and iron. These alloys are mainly used in aircraft

and spacecraft because of their low density and ability to withstand extreme temperatures. They a re

also used in sports equipment, laptops, bicycles and medical prostheses. Recently, this metal has been

used in some battery components.

About Hydrogen

Hydrogen is one of the most efficient energy carriers and can be produced by different methods. Among

all the production methods, the proton exchange membrane water electrolyzer (PEMWE) is considered

the most promising technique to produce highly pure hydrogen from renewable energy sources with

pure oxygen as by-products with no carbon emissions.

About PEMWE technology

The PEMWE technology has reached the early stages of commercial deployment while the mass

production is tied to cost reduction. The single electrochemical cell includes a membrane electrode

assembly (MEA), porous transport layers (PTLs), an d bipolar plates (BPPs). The PTLs cover the MEA on

both sides and play an important role in cell performance, and durability as they are responsible for

electrical and heat conduction in the cell as well as mass transport and accessibility of the reactants. In

addition, they provide mechanical support to the delicate catalyst layers in MEA.

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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 & Chief Executive Officer

Tel.: 514 866-6500

[email protected]

www.niobaymetals.com

Kimberly Darlington

Investor Relations

[email protected]

Tel: 514-771-3398