Niobay Metals receives exploration permit for James Bay

Executive Summary

• Niobay Metals Inc. received a three‑year Ontario government exploration permit for the James Bay niobium project, enabling resumption of drilling suspended in March 2022.
• The permit requires a helicopter‑borne campaign and stricter water‑ and mud‑management practices to address Moose Cree First Nation concerns, which Niobay says it has already met.
• Company leadership emphasizes continued community engagement with the Moose Cree First Nation before proceeding with any further exploration work.

Key Details

• Permit granted for the James Bay niobium project located ~42 km south of Moosonee, Ontario; existing mining lease remains valid until October 2028.
• Permit term: three years, authorizing resumption and completion of the previously suspended drilling campaign.
• New drilling pattern will be shifted away from South Bluff Creek to satisfy community water‑management concerns.
• Required execution method: helicopter‑borne drilling with strict controls on water use and drilling mud handling – requirements already satisfied in prior work.
• Niobay holds a 100 % interest in the James Bay project; also holds a 72.5 % interest in the Crevier niobium‑tantalum project in Quebec.
• CEO/President Jean‑Sebastien David highlighted the strategic importance of Canadian critical minerals and reiterated that future exploration will proceed only with active participation from the Moose Cree First Nation.
• Qualified Person: Jean‑Sebastien David, P.Geo., President & CEO, reviewed and approved the release per NI 43‑101.

Notable Quotes

“The geopolitical context has changed significantly over the past two years regarding critical and strategic minerals; we consider that this permit was granted with this in mind… It is a priority for the company to work with the MCFN to advance this exploration work.” – Jean‑Sebastien David, President & CEO, Niobay Metals Inc.