IGS Study Proposes Innovative and Sustainable Development of Oka Deposit

Nio Strategic Metals Inc. (NIO) released a metallurgical study on August 4, 2026, conducted by IGS Impact Global Solutions for its Oka deposit. The study confirms a strong presence of niobium, phosphate, and rare earth elements (REE).

Niobium recovery improved to 81.14% at a concentrate grade of 52.75% Nb₂O₅, surpassing the 2011 baseline of 71.7% recovery at 44.5% Nb₂O₅. The process utilizes a simpler hydrometallurgical flowsheet. By-product extraction is viable, including ~11.75% TREO in concentrate (83% CeO₂, 9% Nd₂O₃, 3% Pr₆O₁₁) and 0.49% Ta₂O₅.

Environmental de-risking is highlighted: thorium reduced from 2,000 ppm to 824 ppm in residue, and uranium reduced from 1,000 ppm to 120 ppm. Phosphate monetization is recommended for further testing. The study was reviewed and approved by a Qualified Person under NI 43-101.

Nio Strategic Metals Inc. (NIO) released a metallurgical study in August 2026, serving as a direct follow-up to operational updates issued in May 2026. During those earlier updates, the company announced the hiring of consultants to address technical water balance, environmental impact, and marketing strategies.

The study indicates an improved recovery rate and a simpler flowsheet, which marginally enhance project economics. Additionally, the reduction in thorium and uranium content materially de-risks tailings rehabilitation, a critical hurdle for modern mining projects in Quebec. However, the company remains in the pre-revenue exploration stage.

These technical improvements do not alter the fundamental timeline for revenue generation or regulatory approval. The news represents an incremental technical validation rather than a market-moving catalyst. Given the company's explicit going concern flag and lack of operating cash flow, technical improvements alone do not mitigate the immediate need for capital raises.

Nio Strategic Metals Inc. (formerly Niocan Inc.) is focused on the Oka Niobium Project in Quebec, Canada. The project strategy involves constructing a state-of-the-art underground mine with a minimal environmental footprint and processing historical tailings. The company emphasizes green mining, ESG best practices, and low-carbon footprint production. Historical resource estimates exceed 10 million tonnes averaging 0.64% Nb₂O₅, though these are not yet NI 43-101 compliant. The company is awaiting the Certificate of Authorization to proceed with development.