MONTRÉAL, Dec. 19, 2024 (GLOBE NEWSWIRE) -- NioBay Metals Inc. ("NioBay” or the "Company”) (TSX-V: NBY) (OTCQB: NBYCF) is proud to present its year-end report.
Foothills (Titanium Exploration Project)
The Foothills project consists of a series of mining claims located near Saint-Urbain, which has a long history as a mining sector.
Following the option agreement with Vior Inc., NioBay conducted an exploration campaign on the claims covered by the option from the end of May to August. Excellent values were obtained from surface samples (press release of August 7, 2024).
A drilling campaign was carried out from late October to early December. Once all results are received, these will be made public.
Crevier (Niobium and Tantalum Project)
SGS was selected to carry out metallurgical testing. This work started last November and is expected to be completed before the end of Q1-2025.
The objectives of this work are as follows:
1- To validate the changes made to the process flow diagram at a pilot scale;
2- To produce niobium oxalate using three different methods;
3- To produce samples for potential clients.
We are preparing for a larger pilot trial aimed at creating additional samples for potential clients and exploring the possibility of extracting value from some of the project's waste.
James Bay Niobium (Niobium Exploration Project near James Bay in Ontario)
Following the environmental characterization work, the revision of the positioning of a future drilling campaign, and the submission of an authorization request to the Government of Ontario, on December 11, NioBay was mandated by the Ministry of the Environment, Conservation and Parks to conduct consultations with the Moose Cree First Nation. This activity began on December 16, 2024.
R&D
NioBay is proud of the results achieved in 2024 through various research efforts supported by the Company on the use of niobium and tantalum in the development of the hydrogen sector. NioBay's partner institutions for these research projects in 2024 include the University of Waterloo (Ontario), the Université du Québec à Trois-Rivières, and INRS (Montreal). Publications related to the work and results are available in the R&D section of our website (available in English only).
Addition of a Member to the Board of Directors
On November 28, NioBay announced the addition of Ms. Josianne Beaudry, a partner at Lavery, de Billy, S.E.N.C.R.L. in the Business Law group, to its Board of Directors (press release, November 28, 2024).
Financing
During the year, we carried out a series of financings totaling nearly $2 million, primarily through flow-through shares, which allowed us to carry out our field activities throughout the year. In addition, the Company was granted a $500,000 subsidy by the Ministry of Natural Resources and Forestry to support metallurgical testing. The Company is in a strong financial position (press release, June 25, 2024).
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. The Company has also the option to acquire a 80% interest in the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Quebec.
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 delivering other benefits such as better performance, improved safety and increased value.
About Titanium
Titanium (Ti) is as strong as steel, but much less dense. It is therefore important as an alloying agent with many metals, including aluminum, molybdenum and iron. These alloys are mainly used in aircraft and spacecraft because of their low density and ability to withstand extreme temperatures. They are also used in sports equipment, laptops, bicycles and medical prostheses. Recently, this metal has been used in some battery components.
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.
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 | Kimberly Darlington Investor Relations Tel: 514-771-3398 |
