Mr. Jean-Sebastien David reports

NIOBAY ANNOUNCES THE COMMENCEMENT OF SUMMER FIELD PROGRAMS ACROSS ITS PROJECTS

Niobay Metals Inc. has commenced a drilling program on the Crevier property, located approximately 50 kilometres (km) north of the town of Girardville and approximately 150 km from the Niobec mine. It is located on the Nitassinan (traditional ancestral territory) of the Pekuakamiulnuatsh, the main population centre of which is Mashteuiatsh. The project is easily accessible via existing logging roads.

The company is also commencing an inspection and geophysical survey program on the mining lease comprising the James Bay niobium project, which is part of the Treaty 9 territory, approximately 42 km south of Moose Factory, Ont.

The 2026 campaign is a continuation of the work completed in 2025, which resulted in an updated mineral resource estimate released on Feb. 25, 2026. This updated estimate helped identify the drilling targets for the current campaign. A minimum of 5,000 metres of drilling is planned for the summer field season, guided by three primary objectives:

• To determine whether the 2023 northern discovery (characterized by higher tantalum content) connects to the main zone;
• To upgrade the 2025 southern discovery to the measured mineral resource category;
• To test the depth extent of mineralization within the main zone.

Niobay is pleased to announce that this campaign will be carried out by Mashteuiatsh First Nations Drilling. Geological supervision has been entrusted to IOS Geoscientific Services, of Saguenay, which was also involved in previous drilling campaigns at this site. Camp facilities were supplied by the UniVert Forest Cooperative of Girardville, while camp catering services were provided by Marche Girardville.

James Bay niobium, Ontario

Inspection and reconnaissance using geophysical instruments were conducted during the first week of June on the mining lease. The work was conducted by Ronacher McKenzie Geoscience Inc., of Sudbury, with the support of an indigenous guide from a local company. An airborne geophysical survey will be carried out later in the season, which will lead to the development of an updated geophysical model for the area.

Message from Niobay's president and chief executive officer

"This campaign will allow us to gather additional information on the 2023 discovery and determine whether there is a connection with the main site. As the price of tantalum oxide has more than doubled since work resumed at the Crevier site in 2021, we're very motivated to broaden our investigation of this area. We are also preparing for a series of delegation site visits during the work season, which will allow us to demonstrate Crevier's mineral potential. As in previous years, we are proud to carry out this work with the expertise and services of local partners," said Jean-Sebastien David, president and CEO.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Jean-Sebastien David, PGeo, a qualified person under National Instrument 43-101. Mr. David is president and CEO of Niobay.

About Niobay Metals Inc.

Niobay aims to become a leader in environmental stewardship, sustainable development, governance and indigenous inclusion by supporting the development of low-carbon mining operations and responsible water and wildlife management practices. The consent and full participation of the indigenous communities in which the company operates will be essential to its success.

In addition to other properties, Niobay holds a 100-per-cent 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-per-cent interest in the Crevier niobium and tantalum project, located in Quebec and on the Nitassinan 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 increasing value.

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