Mr. Jean-Sebastien David reports

NIOBAY ANNOUNCES THE IDENTIFICATION OF NEW TARGETS ON THE JAMES BAY NIOBIUM PROJECT AND THE EXPANSION OF THE MAIN SITE EXPLORATION AREA

Niobay Metals Inc. has released the results of data compilation and reinterpretation work involving geological and geophysical information on the James Bay niobium project, located 45 kilometres south of the community of Moose Factory, Ont. It should be noted that Niobay holds both an exploration permit and a mining lease valid until 2028 for this area. The work was carried out by Ronacher McKenzie Geoscience Inc. (RMG) of Sudbury.

Land acknowledgment

Niobay's board of directors acknowledges that the James Bay niobium project is located within the area covered by Treaty 9 and forms part of the traditional territory of the Moose Cree First Nation. The company respects the indigenous rights and interests of the Moose Cree and the indigenous communities covered by Treaty 9.

Highlights

• The 2026 compilation and reinterpretation of geological and geophysical data completed on the James Bay niobium project demonstrate the property's strong exploration potential.
• The mineralized envelope has returned grades of up to 2.66 per cent Nb2O5.
• New exploration targets, as well as a possible extension of the mineralization in Zone 2-3, have been identified.
• Niobay holds an exploration permit and also maintains a mining lease that remains valid in this area until 2028.
• Niobay continues to engage with members of the local community and intends to further strengthen partnerships with Cree contractors in the region during the 2027 and 2028 field seasons.

Methodology used by RMG to identify new targets

• Review and evaluation of existing geophysical data;
• Preparation of magnetic filtering products;
• Completion of 3-D inversion modelling of airborne magnetic survey data;
• Integration of all geoscientific and exploration data and products;
• Evaluation of targets generated through machine learning by Mira Geoscience;
• Generation of new targets following a geoscientific assessment of the property.

Message from Niobay's president and chief executive officer of Niobay

"We are pleased to announce the results of RMG's work, which demonstrate the strong potential of our property. The 2026 fieldwork also enabled us to better position historical information and benefit from geophysical survey data," said Jean-Sebastien David, PGeo, president and chief executive officer of Niobay. "It is on the basis of these new data that we will direct the planning of our upcoming field programs."

Qualified person

The work conducted by Carl-Philippe Folkesson, MSc, PGeo, of Ronacher McKenzie Geoscience Inc., as well as this press release, has been reviewed and approved by Jean-Sebastien David, PGeo, a qualified person under National Instrument 43-101. Mr. David is president and chief executive officer of Niobay.

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. The company's top priority, which is critical to its success, is the consent and full participation of the indigenous communities in whose territories and/or on ancestral lands the company operates. In addition to other properties, Niobay holds a 100-per-cent interest in the James Bay niobium project located 45 kilometres south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. Niobay also holds an 87.14-per-cent interest in the Crevier niobium and tantalum project located in Quebec and on the Nitassinan (ancestral territory) of the Pekuakamiulnuatsh First Nation.

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.

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