Mr. Murray Nye reports

NORTH AMERICAN NIOBIUM AND CRITICAL MINERALS CORP. SUBMITS ATI APPLICATION FOR SEIGNEURIE PROJECT IN QUÉBEC, ADVANCING PATH TO DIAMOND DRILLING

North American Niobium and Critical Minerals Corp. has provided an update on the permitting process in Quebec for its 100-per-cent-owned Seigneurie project, located in the Municipality of Longue-Rive, Que. The company has submitted its initial application for an Authorization for Impact-Causing Exploration Work (the ATI) to Quebec's Ministere des Ressources naturelles et des Forets (MRNF), which governs the ATI process. The ATI is required in Quebec prior to conducting certain impact-causing exploration activities, including diamond drilling.

Highlights

• Initial ATI application submitted to the MRNF for the Seigneurie project (Longue-Rive, Que.).
• Quebec's ATI framework requires proponents to identify stakeholders and establish constructive relationships through a formal information and engagement process;
• The company has notified relevant parties in areas where the proposed drilling work may take place, including the First Nation Council of the Innus of Essipit, the municipality of Longue-Rive and local private landowners.
• The company has received comments relating to potential access and other logistical considerations (including suggested trail routes for drill rig access), which it will consider as it advances planning.
• Based on the company's current understanding of the process, the MRNF review may take approximately three months, however timing is difficult to estimate given the number of stakeholder groups identified (eight in total) and the iterative nature of the ATI process.
• Even if an ATI is granted, the company will still be required to finalize any necessary private access and land-use agreements (where applicable) to access private property, and to continue working toward long-term social acceptance through continuing engagement, including alignment with the expectations and protocols of the Innu community of Essipit.

Quebec ATI permitting update

The submission of the ATI application represents an important step toward the potential future execution of a diamond drilling program at the Seigneurie project. Under Quebec's ATI framework, the MRNF review process includes verification that the required stakeholder information exchanges have occurred, and that questions, comments and requests raised through the process have been appropriately addressed.

The company notes that the ATI process can be iterative and timelines may vary depending on the nature and timing of feedback received and the time required to address project logistics. Accordingly, there can be no assurance regarding the timing of the MRNF review or the eventual receipt of an ATI.

Stakeholder engagement

The company views stakeholder engagement as a core part of responsible exploration in Quebec and expects it to remain central to its activities at Seigneurie and any future projects in the province. The company has identified eight stakeholder groups for the purposes of the ATI process and continues to progress discussions and relationship-building efforts. Certain details of arrangements and discussions are not being disclosed at this time.

"Establishing constructive, positive relationships with stakeholders is now a requirement under Quebec's ATI permitting framework, and it takes time," said Murray Nye, chief executive officer of North American Niobium. "We believe this is the new reality in Quebec and one that is driving meaningful, positive change for the mining industry. Our experience to date has been that people were glad to be consulted, and many, if not all, want to see responsible projects succeed when they are approached with transparency and respect."

Next steps

The company will continue to engage with stakeholders, respond to feedback received and support the MRNF review process as required. Any future impact-causing exploration work, including diamond drilling at Seigneurie, remains subject to receipt of required approvals, including the ATI, and to continuing planning and stakeholder engagement.

Other corporate updates

North American Niobium also announces that Kelvin Lee has resigned as chief financial officer, corporate secretary and director, and the company thanks Mr. Lee for his contributions and service, with Steven Nguyen appointed as his successor as chief financial officer, corporate secretary and director, effective immediately.

About North American Niobium and Critical Minerals Corp.

North American Niobium and Critical Minerals is a North American mineral exploration company focused on the acquisition and development of precious, base, and critical mineral assets. Its portfolio includes the Silver Lake property in British Columbia's Omineca mining division and a recently acquired land package in Quebec's Grenville province. The Quebec properties add exposure to rare-earth elements (REE), niobium (Nb) and nickel-copper (Ni-Cu) occurrences, expanding the company's footprint into critical minerals that are strategically important for energy and defence applications.

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