Mr. Jean-Sebastien David reports

NIOBAY ANNOUNCES ELECTION OF DIRECTORS

Niobay Metals Inc. has released the results of its annual general meeting of shareholders held on June 12, 2025.

Shareholders holding a total of 49,363,869 common shares of the company attended the AGM in person or were represented by proxy, representing over 46 per cent of the 107,277,572 common shares issued and outstanding.

Jean-Sebastien David, Josianne Beaudry, Laurence Farmer, Raymond Legault, Bruno Di Battista and Serge Savard were elected to the board of directors. The shareholders also reappointed PricewaterhouseCoopers LLP as auditor for the ensuing financial year and reapproved the company's rolling stock option plan.

Following the AGM, the company approved the grant of an aggregate of 1,215,000 incentive stock options to directors, officers, employees and consultants of the company. One-third of the stock options granted will vest immediately and the remaining stock options granted are subject to a two-year vesting period. All grants have a seven-year term at an exercise price of six cents. The stock options have been granted pursuant to the company's stock option plan and are subject to applicable securities laws and TSX Venture Exchange policies.

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. The company's top priority, which is critical to its success, is the consent and full participation of the indigenous communities in whose territories and/or on ancestral lands Niobay operates. In addition to other properties, Niobay holds a 100-per-cent interest in the James Bay niobium project, located 45 kilometres south of Moosonee, in the Moose Cree traditional territory of the James Bay Lowlands in Ontario. Niobay also holds a 72.5-per-cent interest in the Crevier niobium and tantalum project, located in Quebec and on the Nitassinan territory of the Pekuakaminulnuatsh First Nation. The company has also the option to acquire an 80-per-cent 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 such as steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts while also increasing value.