Niobay Metals Inc. press release

NioBay Announces the Identification of New Targets on the James Bay Niobium Project and the Expansion of the Main Site Exploration Area

2026-10-20

TSXV - TSX Venture Exchange · Niobium · Rare Earth Elements · Iron · Phosphate · Zirconium · Titanium · Tantalum · Canada · Drill Results

MONTRÉAL, Oct. 20, 2026 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is pleased to announce the results of data compilation and reinterpretation work involving geological and geophysical information on the James Bay Niobium Project, located 45 km south of the community of Moose Factory, Ontario. It should be noted that NioBay holds both an exploration permit and a mining lease valid until 2028 for this area. The work was carried out by Ronacher McKenzie Geoscience Inc. ("RMG") of Sudbury.

Land Acknowledgement NioBay's Board of Directors acknowledges that the James Bay Niobium Project is located within the area covered by Treaty 9 and forms part of the traditional territory of the Moose Cree First Nation. We respect the Indigenous rights and interests of the Moose Cree and the Indigenous communities covered by Treaty 9.

Highlights

The 2026 compilation and reinterpretation of geological and geophysical data completed on the James Bay Niobium Project demonstrate the property’s strong exploration potential. The mineralized envelope has returned grades of up to 2.66% Nb₂O₅. New exploration targets, as well as a possible extension of the mineralization in Zone 2-3, have been identified. NioBay holds an exploration permit and also maintains a mining lease that remains valid in this area until 2028. NioBay continues to engage with members of the local community and intends to further strengthen partnerships with Cree contractors in the region during the 2027 and 2028 field seasons.

Methodology Used by RMG to Identify New Targets

Review and evaluation of existing geophysical data. Preparation of magnetic filtering products. Completion of 3D inversion modeling of airborne magnetic survey data. Integration of all geoscientific and exploration data and products. Evaluation of targets generated through machine learning by Mira Geoscience. Generation of new targets following a geoscientific assessment of the property.

Message from NioBay’s President and CEO of NioBay _“We are pleased to announce the results of RMG's work, which demonstrate the strong potential of our property. The 2026 fieldwork also enabled us to better position historical information and benefit from geophysical survey data,” _said Jean-Sébastien David, P.Geo., President and Chief Executive Officer of NioBay. “_It is on the basis of these new data that we will direct the planning of our upcoming field programs.”_

Figure 1 – Property Map

NioBay Mining Claims: 66.75 km², James Bay Niobium Mining Lease: 25.85 km²

Figure 2: Base case for the study: mineralization on the James Bay Niobium Project (Target No. 2).

Figure 3: Mira Target No. 2 (James Bay Niobium) and 3, situated 150 m south of the James Bay Niobium Project (Reduction-to-Pole map with shaded tilt filter).

Eastern View (James Bay Niobium and Target No. 3)

Northern View (James Bay Niobium and Target No. 3)

Northwestern View (James Bay Niobium and Target No. 3)

Figure 4: New Target Map of the NioBay Property and the James Bay Niobium Project

Qualified Person

The work conducted by Carl-Philippe Folkesson, M.Sc., P.Geo., of Ronacher McKenzie Geoscience Inc., as well as 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 Chief Executive Officer 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 other 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 an 87.14% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan (ancestral territory) of the Pekuakamiulnuatsh First Nation.

About Niobium Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also increased value.

Cautionary Statement Certain statements contained in this press release constitute forward-looking information under Canadian securities laws, including statements regarding the Company’s plans. These statements are necessarily based on a number of beliefs, assumptions, and opinions of management as of the date they are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company assumes no obligation to update these forward-looking statements should management’s beliefs, estimates, or opinions, or other factors, change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

FOR MORE INFORMATION, CONTACT:

| NioBay Metals Inc. Jean-Sebastien David, geo. President & Chief Executive Officer Tel.: 514 866-6500 jsdavid@niobaymetals.com www.niobaymetals.com | Kimberly Darlington Investor Relations kimberly@refinedsubstance.com Tel: 514-771-3398 | | | |

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/58330377-0448-42d2-bb6e-b12f3fad7904

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https://www.globenewswire.com/NewsRoom/AttachmentNg/a354d20e-6a61-4680-8068-ccb748ef8d94

https://www.globenewswire.com/NewsRoom/AttachmentNg/69156d8f-f60f-4c37-bd67-221c6355cd9e

https://www.globenewswire.com/NewsRoom/AttachmentNg/d18a4e83-0e69-4115-9797-707b8bca94c7

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