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. (NBY) released an exploration update on October 20, 2026, detailing the results of a geological and geophysical data reinterpretation conducted by Ronacher McKenzie Geoscience Inc. (RMG) for its James Bay Niobium Project. The reinterpretation identified new exploration targets and a possible extension of mineralization in Zone 2-3, with the mineralized envelope returning grades up to 2.66% Nb2O5.

The company holds an exploration permit and a mining lease valid until 2028 for the project, which spans 66.75 km² of mining claims and 25.85 km² of lease. Management plans to use the updated geophysical models and machine-learning-generated targets to direct field programs in 2027 and 2028. The update emphasizes strengthening partnerships with Cree contractors and engaging with local communities during upcoming field seasons.

Niobay Metals Inc. (NBY) released expected, incremental progress in the early-stage exploration of its James Bay project. The announcement does not constitute a drill result, resource update, or commercial milestone. The geophysical reinterpretation serves as a standard preparatory step to optimize future drilling and aligns with the company's stated 2026-2028 exploration roadmap.

In comparison to the Crevier project in Quebec, which has advanced metallurgical results and a defined 20.7M tonne Measured & Indicated resource, James Bay remains a longer-term optionality play. The news lacks immediate market-moving catalysts, reinforcing the company's exploration strategy without altering the near-term financial or operational outlook.

Niobay Metals Inc. (NBY) is a pre-revenue exploration and evaluation company focused on critical minerals in Canada. Its flagship Crevier Niobium & Tantalum Project in Quebec is in the advanced exploration stage, featuring a 20.7M tonne Measured & Indicated resource at 0.17% Nb2O5 and 202 ppm Ta2O5. Recent metallurgical tests achieved approximately 99.6% Nb2O5 and approximately 99.98% Ta2O5 purity, positioning the project for potential battery and superalloy markets.

The company’s second flagship asset, the James Bay Niobium Project in Ontario, is in the early exploration stage. Located within the Moose Cree First Nation territory, the project’s focus is on geophysical modeling, target generation, and securing a mining lease valid until 2028. Niobay Metals plans to transition Crevier toward a pilot plant and preliminary feasibility study, while advancing James Bay through validation drilling and environmental assessments.