Vior Options Its Foothills Project to Niobay Metals

VIOR OPTIONS ITS FOOTHILLS PROJECT TO NIOBAY METALS

Montreal, CANADA, February 7, 2024 - VIOR INC. (« Vior » or the « Corporation »), (TSX-

V: VIO, OTCQB: VIORF and FRANKFURT: VL51) is pleased to announce that it has executed a

definitive Option Agreement (“Agreement”) with NioBay Metals Inc. (“NioBay”), for Vior’s Foothills Project

(“Project”), located 100km northeast of Quebec City and 90km south of the deep-water port at Saguenay

(La Baie area), Quebec. The Agreement outlines the final terms and conditions between Vior and NioBay,

providing NioBay with the right to acquire an 80% undivided interest in the Project. This Agreement will be

subject to receipt of all regulatory approvals, including acceptance and approval by the TSX Venture

Exchange (“TSXV”).

The district -scale Project consists of 529 claims over an area of 285km2, which includes a group of

properties with strong potential for critical and strategic minerals . It encompasses most of the contact of

the intrusive zone known as the St. Urbain anorthosite. Vior has confirmed the presence of rutile-ilmenite,

with results up to 57% titanium dioxide (TiO 2), as well as phosphate (P2O5). Of 139 outcrop samples

collected, 67 contain P2O5 values of 4.0 to 6. 3%, and boulder samples reveal some historic higher-grade

mineralization of over 10% P2O5 (Sigeom, QC). See Vior Press Release, September 20, 2023.

Mark Fedosiewich, President and CEO of Vior, commented , “We are very pleased to enter into this

Agreement with an experienced partner such as NioBay who has the specific expertise required to fully

uncover the Project’s mineral potential. The Foothills Project is a non-core asset for Vior that holds much

promise, however, due to our recent focus and efforts at our flagship Belleterre Gold Project, Foothills has

not been afforded the exploration commitment it deserves. Vior shareholders will now have the

opportunity to participate in its upside success by having NioBay rapidly advance it.”

Agreement Terms and Highlights

NioBay will have the option to acquire an 80% undivided interest in the Project by fulfilling the terms and

conditions as outlined below.

Option Terms

The Option Agreement provides for the following terms and schedule:

Period

Cash Payments Share Payments Minimum Work

Expenditures

Closing Date $40,000 1,250,000 NioBay shares N/A

December 31, 2024 $40,000 1,250,000 NioBay shares $400,000

(Firm)

December 31, 2025 $60,000 $150,000(*) in NioBay shares, subject to a

minimum of 1,000,000 NioBay shares

$1,100,000

December 31, 2026 $60,000 $250,000(*) in NioBay shares, subject to a

minimum of 1,000,000 NioBay shares. N/A

December 31, 2027 $200,000 $500,000(*) in NioBay shares, subject to a

minimum of 1,000,000 NioBay shares $2,500,000

Notes:

(1) All referenced dollar amounts are stated in Canadian Dollars.

(*) Installments will be payable in NioBay shares at a price per share equal to a 10-day VWAP, subject to a minimum issue

price of $0.055 per NioBay share.

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NioBay has the right to accelerate the vesting period of this 80% undivided interest by incurring

expenditures, making cash payments , and making share -based payments at any time before December

31, 2027. NioBay will act as operator during the Option period.

The operative date for a contractual joint venture between Nio Bay and Vior (the “Joint Venture”) will be

the date on which the Option Agreement is executed . The Option Agreement provides that once one

party’s interest in the Foothills Project and/or the Joint Venture falls below 10%, this interest will be

transferred to the other party and converted into a 1.5% NSR (Net Smelter Return) on precious and base

metals, and a 1.5% GRR (Gross Revenue Royalty) on mineral substances , other than precious or base

metals, with a 0.5% NSR/0.5% GRR being collectively redeemable for an aggregate amount of

$1,500,000.

Further, Vior is providing clarification of the January 10, 2024 , contract (the “ Contract”), signed with

Consultant, Machai Capital Inc. (the “Consultant”), which is subject to TSXV approval (see Vior P ress

Release, January 10, 2024 ). The Consultant is at arm ’s length to Vior and has no relationship with Vior ,

except under th is Contract. The Consultant has no current interest in Vior other than the stock options

granted by Vior on January 10, 2024 , but may acquire a future interest in the market or via a private

placement in compliance with TSXV rules and regulations . The services will commence upon TSXV

approval and will be paid with cash from Vior’s treasury.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Laurent Eustache,

Executive Vice-President for VIOR and Qualified Person as per NI 43-101.

About Vior

Vior is a junior min eral exploration corporation based in the province of Quebec, Canada, whose

corporate strategy is to generate, explore, and develop high quality projects in proven and favourable

mining jurisdictions in North America. Through the years, Vior’s management and technical team s have

demonstrated their ability to discover several gold deposits and many high -quality mineral prospects. Vior

is rapidly advancing two district-scale projects in Quebec , which include its flagship Belleterre Gold

Project and Skyfall Nickel Project.

For further information, please contact:

Mark Fedosiewich Laurent Eustache

President and CEO Executive Vice-President

613-898-5052 514-442-7707

[email protected] [email protected]

www.vior.ca

SEDAR: Vior Inc.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Forward-Looking Statements

This news release contains forward -looking statements. All statements, other than of historical facts, that address

activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future

including, without limitation, the planned exploration program on the Belleterre project, the expected positive

exploration results, the timing of the exploration results, the ability of the Corporation to continue with the exploration

program, the availability of the required funds to continue with the exploration and the approval from the Ministère de

l’énergie et des ressources naturelle (“MERN”) of the request for abandonment of the two mining concessions filed by

9293-0122 Québec Inc. are forward-looking statements. Forward-looking statements are generally identifiable by use

of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have',

"plan" or "project" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the

Corporation's ability to control or predict, that may cause the actual results of the Corporation to differ materially from

those discussed in the forward -looking statements. Factors that could cause actual results or events to differ

materially from current expectations include, among other things, failure to meet expected, estimated or planned

exploration expenditures, the possibility that future exploration results will not be consistent with the Corporation's

expectations, general business and economic conditions, changes in world gold markets, sufficient labour and

equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title

disputes and claims, environmental risks, the refusal by the MERN to approve the request for abandonment of the

two mining concessions held by 9293 -0122 Québec Inc. as well as those risks identified in the Corporation's annual

Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should

assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those

described and accordingly, readers should not place undue reliance on forward -looking statements. Although the

Corporation has attempted to identify important risks, uncertainties and factors that could cause actual results to differ

materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation

does not intend, and does not assume any obligation, to update these forward -looking statements except as

otherwise required by applicable law.