NioBay Applauds Phosphorous Critical Minerals Classification

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MONTREAL, June 18, 2024 (GLOBE NEWSWIRE) — NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is satisfied with the update to Canada's list of critical minerals announced by Minister of Energy and Natural Resources Jonathan Wilkinson. In addition, NioBay is pleased that tantalum and niobium, which are already on this list, will now provide additional tax breaks.

There are 34 minerals on the list, which now includes high-purity iron ore, phosphorus and silicon metal. They are all essential for the development of clean technologies and in various industries, such as microchips, green steel, and lithium-iron-phosphate batteries. This update aims to strengthen critical minerals value chains to support Canada's energy and economic transition. Vital minerals are essential for modern products and the country's future economic prosperity.

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“This development fully supports our Hills project“It was acquired in partnership with Vior Inc., given its strong potential in important and strategic metals,” says Jean-Sébastien David, President and CEO of NioBay. The Hills Project, covering an area of ​​285 square kilometers in the Séminaire de Québec region, revealed phosphate-rich samples with values ​​up to 6.3% P₂Hey₅And more than 10% for some rock masses.

Mr. David learned a better understanding of phosphates while developing the Lac à Paul mining project in Saguenay, during his years of service with Arianne Phosphate Inc. He is also becoming more confident in the potential of his new Titanium Phosphate Hills project. It is located on a former site north of Saint-Urbain, in the La Baie region, in Quebec, and believes the latter can respond to the growing demand for energy and biomaterials.

By diversifying its portfolio with critical minerals, NioBay is committed to providing local, sustainable solutions for Canada's energy transition.

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 Newby Metals Inc.

NioBay aims to become a leader in the development of low-carbon mines and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance and inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities whose and/or ancestral lands we work on.

In addition to other properties, NioBay has a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, on traditional Moose Cree territory in the James Bay Lowlands of Ontario. NioBay also has a 72.5% interest in the Crevier Niobium and Tantalum project located in Quebec and on the Nitassinan Territory of the Pekuakamiulnuatsh First Nation. The company also has the option to acquire an 80% interest in the Foothills Project, a titanium phosphate project located near the site of the former St-Urbain mine in Quebec.

About niobium

Niobium is a natural element. It is a malleable, malleable metal that is highly resistant to corrosion. Because it enhances properties and functionality, niobium is used in a wide range of materials and applications in the mobility, structure and energy sectors. Niobium converts materials. When added to materials such as steel, glass and aluminium, niobium makes them more efficient and reduces environmental impacts, while also increasing value.

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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