NioBay Metals signs option agreement to acquire high-potential titanium and phosphate properties - Seite 2

Notes:
	(1)		All referenced dollar amounts are stated in Canadian Dollars.
	(*)		Installments will be payable in NioBay shares at a price per share equal to a 10-day VWAP, subject to a minimum issue price of $0.055 per NioBay share.

NioBay can accelerate the vesting period of this 80% undivided interest by incurring expenditures, making cash payments and making share-based payments at any time before December 31, 2027. NioBay will act as operator during the Option period.

The operative date for a contractual joint venture between Niobay and Vior (the “Joint Venture”) will be the date on which the Option will be completed. The Option Agreement provides that once one party’s interest in the Foothills Project and/or the Joint Venture falls below 10%, this interest will transferred to the other party and converted into a 1.5% NSR (Net Smelter Return) on precious and base metals and a 1.5% GRR (Gross Revenue Royalty) on mineral substances other than precious or base metals), with a 0.5% NSR/0.5% GRR being collectively redeemable for an aggregate amount of $1,500,000.

Vior and NioBay deal at arm’s length and no finders fees will be payable in connection with this transaction. The Option Agreement is subject to the approval of the TSX Venture Exchange.

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.

About NioBay Metals Inc.
NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate.

In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.