Niobay Metals Announces Withdrawal of Legal Challenge to the Exploration Permit

MONTREAL, Oct. 18, 2019 - Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V. NBY) is pleased to announce that the Moose Cree First Nation (“MCFN”) and a member of the MCFN community have sought from the Ontario Divisional Court an order dismissing the judicial review application they commenced in March 2019 against Ontario and the Company.

On March 5, 2019, the Company had reported that MCFN and a member of the community had brought an application for a judicial review seeking to, among other things, set aside the exploration permit issued to the Company on January 30, 2019 with respect to an exploration program to be conducted on the Company’s James Bay Niobium Project.

“We are pleased with the decision of the Chief and Council of the MCFN and the community member to dismiss the legal proceeding, and to begin a relationship building process with the Company. This is a very positive step of engagement with the community, and we are looking forward to working with the MCFN community and leadership,” says Claude Dufresne, President & CEO of Niobay Metals Inc.

NioBay hopes to conclude a protection agreement with the MCFN relating to the proposed exploration program before the end of the year, and commence the planned drilling program in early 2020 with the support and collaboration of MCFN.

About NioBay Metals Inc.

Niobay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. Niobay also holds a 72.5% interest in the Crevier niobium and tantalum project located in Quebec and a 49% direct participation in certain mineral titles located in the Chibougamau and Normetal region, Quebec, under a joint venture agreement with SOQUEM.

Cautionary Statement

Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company’s plans to conclude a protection agreement with MCFN and to commence the exploration program in early 2020. Such statements are necessarily based upon a number of beliefs, assumptions and opinion of management on the date the statements 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 undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should 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:

Claude Dufresne, P.Eng.
President & CEO
Niobay Metals Inc.
Email: cdufresne@niobaymetals.com
Website: www.niobaymetals.com