Signing of a cooperation agreement with the Pekuakamiulnuatsh Nation for the Crevier Project

MASHTEUIATSH, Feb. 28, 2023 - Niobay Metals Inc. ("NioBay" or the "Company") Niobay Metals Inc. and Pekuakamiulnuatsh Takuhikan announce the signing of a cooperation agreement for the advanced exploration and development of the Crevier Project.

The cooperation agreement signed today in Mashteuiatsh, in the presence of the Chief of the Pekuakamiulnuatsh Nation, Gilbert Dominique and the President of Niobay and Crevier Minerals, Jean-Sébastien David, aims to provide a framework for future work that will assist in the development of the Crevier Project. Members of the Katakuhimatsheta (council of elected officials) of the Pekuakamiulnuatsh Nation and members of the board of directors of Niobay and Crevier Minerals were also present on this occasion.

The Crevier Project is located approximately 53 km north of the municipality of Girardville on the Nitassinan of the Pekuakamiulnuatsh Nation. This agreement follows advanced prospecting work and a 4,000-metre drilling campaign carried out in 2022 with the objective of determining the presence of niobium and tantalum.

"Today's cooperation agreement is a first formal gesture in relation to the exploration work of the Crevier Project that will take place on Nitassinan, our territory. It is this type of cooperation that we wish to establish in the assertion of our ancestral rights, notably our inherent right to self-determination, and our ancestral title, and we are satisfied that the promoters were concerned about involving us upstream of this project, with the support of our Economy and Strategic Partnerships Unit," emphasized the Chief of the Pekuakamiulnuatsh Nation, Gilbert Dominique.

"It has always been clear to us that this project would be carried out in collaboration with the Pekuakamiulnuatsh, without forgetting the stakeholders in this sector. This agreement will allow us to maximize the benefits for the community while setting the course for future work," said Jean-Sébastien David, President and Chief Executive Officer.

"We are very excited about today's agreement and we are confident that our collaboration will be a great success," said Serge Savard, Chairman of the Board of Directors of NioBay.

About NioBay Metals Inc.

NioBay is a company focused on exploration, development and use of critical green metals with an Environmentally, Sustainable, Governance, and Indigenous (ESGI) focus. The Company holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the MCFN 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 Quebec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.

About the Pekuakamiulnuatsh Nation [www.mashteuiatsh.ca]

Pekuakamiulnuatsh Takuhikan is the political and administrative organization that represents the Pekuakamiulnuatsh. The Pekuakamiulnuatsh Nation has 9,552 members, many of whom live in the community of Mashteuiatsh, on the banks of the Pekuakami. Mashteuiatsh - which means "Where there is a point" - is a historic meeting place.

About Niobium

Niobium is a naturally occurring element. It is a readily available, reliable, soft 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 smarter and lower environmental impacts, while also delivering other benefits like better performance, improved safety, and increased value.

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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. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions 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.

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