Niobay Metals releases Crevier resource estimate

Executive Summary

• Niobay Metals Inc. announced a new Mineral Resource Estimate (MRE) for its Crevier niobium and tantalum project, representing a significant update to the 2010 estimate.
• The 2026 MRE converted 16,257,000 tons into Measured resources, a classification not present in the previous estimate, based on an optimized pit shell and updated economic modeling.
• The company highlights improved resource quality and robust economic parameters, positioning the project for potential exclusive production of niobium oxide for battery and superalloy manufacturers.

Key Details

• Resource Conversion: 16,257,000 tons converted to Measured resources at 0.17% Nb2O5 and 201 ppm Ta2O5.
• Methodology Changes:
  • Estimate constrained by an optimized pit shell (previously calculated over the entire drilled area without pit constraints).
  • Elimination of inferred resources at depth (below the pit).
  • Production cost estimate now based on metallurgical tests from a pilot project using a surface sample (previously preliminary).
  • Pricing based on marketing niobium as a specialty product rather than ferroniobium/Nb2O5 basis.
• Cut-off Grade: 0.1124% Nb2O5 equivalent (calculated using a Nb price of $82 USD/kg).
• Nb2O5 Equivalent Formula: Nb2O5 + (Ta2O5 × 0.000303).
• Technical Parameters:
  • Density: Overburden 2.0 t/m³; Fresh rock 2.63 t/m³.
  • Interpolation: Inverse distance using a rotated block model (azimuth 320°) with block size 2.5m (X) × 12.5m (Y) × 5m (Z).
  • Qualified Person: Jean-Michel Dube, PGeo, MSc, of IOS Geosciences.
• Project Ownership: Niobay holds 72.5%; Niobec (subsidiary of Magris Performance Materials Inc.) holds 27.5%.
• Strategic Outlook: Following studies demonstrating positive technical and economic parameters, the Crevier project could be exclusively dedicated to producing niobium oxide for battery and superalloy manufacturers.

Notable Quotes

• "We are pleased to present this updated resource estimate for the Crevier project, a key milestone for continuing our discussions with potential clients and partners. The results and methodologies used make this estimate significantly more robust. This new resource provides an excellent basis for planning future fieldwork." — Jean-Sebastien David, President and CEO

Administrative Note

• The release also notes the grant of 475,000 incentive stock options to a director and consultants, with one-third vesting immediately and the remainder subject to a two-year vesting period, all at an exercise price of 10 cents with a seven-year term.