Mr. Kirby Renton reports

QUEBEC SELECTS NIOBIUMX'S SHIPSHAW CARBONATITE AS ONE OF FIVE FOR DETAILED STUDY; NIOBIUMX ANNOUNCES PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

Niobiumx Mining Inc. has highlighted that its Shipshaw carbonatite is one of five carbonatite systems selected by Geologie Quebec, the geoscience branch of the Ministere des Ressources naturelles et des Forets, for detailed characterization in metallogenic bulletin BM 2024-02.

"Quebec's geologists reviewed the whole Waswanipi-Saguenay corridor and picked five carbonatites for detailed study. One hosts North America's only producing niobium mine. Another is ours," said Kirby Renton, president and chief executive officer. "Canada is the world's second-largest niobium producer, with every tonne coming from this one district. The province chose Shipshaw independently; our job now is to find out what lies beneath it."

Of the carbonatite systems along the Waswanipi-Saguenay corridor, Geologie Quebec selected five as particularly promising for detailed characterization: the Crevier alkaline intrusion, the Grand Lac Brochet carbonatite, the Girardville carbonatite, the Shipshaw carbonatite and the Saint-Honore alkaline complex, which hosts the producing Niobec mine. The company's Shipshaw property covers the Shipshaw carbonatite. Proximity to Niobec is not necessarily indicative of mineralization on the Shipshaw property, and the Shipshaw property has no current mineral resource or mineral reserve estimate.

Key highlights:

1. One of five systems selected by the province: Geologie Quebec identified five intrusions along the corridor as particularly promising for niobium and rare earth characterization, each expressed as a negative magnetic anomaly, and each indexed in Sigeom as a mineralized zone. Shipshaw, indexed as Terres Rompues and Terres Rompues-SE, is one of them.
2. One structure controls all five: The bulletin describes the Waswanipi-Saguenay lineament as a trans-crustal structure older than 1.1 billion years, reactivated repeatedly through later tectonic events, that channelled the carbonatitic and alkaline magmas of the corridor to surface. All five selected systems lie along it, which the bulletin interprets as a common structural control.
3. What the corridor already hosts: The bulletin describes the Saint-Honore complex as having one of the most niobium-rich carbonatites in the world and notes that Canada is the world's second-largest niobium producer after Brazil. At Saint-Honore, the niobium is carried in the magnesio-carbonatite, and the bulletin describes the Shipshaw mineralized zone as having a homogeneous magnesio-carbonatite composition.
4. A multiyear government program: The study began in 2022 and, in the bulletin's words, will be expanded year by year as work and discoveries progress. The company did not commission the work and has no involvement in it.
5. More to come on Shipshaw: The bulletin states that little data will be presented on Shipshaw until a doctoral thesis in progress at the Universite du Quebec a Chicoutimi, which is expected to provide new constraints on the Shipshaw mineralized zone, is published. The company intends to report on that work when it is public.

Private placement

The company is also pleased to announce a non-brokered private placement of up to 7,547,170 flow-through units at a price of 53 cents per flow-through unit for aggregate gross proceeds of up to $4-million.

Each flow-through unit will consist of one common share of the company issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company, which will not be a flow-through share, at a price of 85 cents for a period of 24 months from the closing date.

The company intends to use the gross proceeds from the offering to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures within the meaning of the Income Tax Act (Canada), which will be renounced to the subscribers in an amount not less than the subscription price of the flow-through units, with an effective date no later than Dec. 31, 2026, and to incur such expenses on or before Dec. 31, 2027.

Proceeds of the offering will finance the company's continuing program at the Shipshaw property or other properties in Quebec the company may acquire.

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued under the offering will be subject to a statutory hold period of four months and one day from the date of issuance.

The company may pay finders' fees to eligible persons in connection with the offering, in accordance with the policies of the Canadian Securities Exchange.

Marketing engagement

The company also announces that it has engaged 1499486 B.C. Ltd. (doing business as Ace Digital Ltd.) (address: Suite 110, 4170 Still Creek Dr., Burnaby, B.C., V5C 6C6; contact: Steve Hnatko; phone number: 604-999-7361; e-mail: steve@ace-digital.ca) to provide digital communications services under a marketing consulting services agreement dated Nov. 4, 2026.

Under the terms of the agreement, the consultant will provide digital marketing services, including the preparation and distribution of on-line articles, e-mail and social media marketing, video content creation, and related digital marketing activities. The agreement has a term of six months commencing on a date in November, 2026, to be determined. In consideration for its services, the company has agreed to pay the consultant a total fee of $300,000 (U.S.), plus applicable taxes, payable in a single upfront cash payment.

The consultant and the company are not related parties and operate at arm's length. To the company's knowledge, neither the consultant nor its principals have any interest in the company's securities, directly or indirectly, or any right to acquire such an interest.

Director resignation

The company further announces that Tyler Heathcote has resigned from the board of directors. The company wishes him the best in his future endeavours.

About niobium

Niobium has established and emerging applications in defence and AI (artificial intelligence). It is one of the critical minerals behind America's weapons and the next generation of AI computing, used in the jet engines, rocket motors and missiles of the U.S. military and in the superconducting circuits being developed to cut AI's power and heat. The United States mines none of it: according to the U.S. Geological Survey, significant U.S. niobium mine production has not been reported since 1959, and the country relies on imports for all of it.

About Niobiumx Mining Inc.

Niobiumx Mining is a critical minerals exploration company focused on niobium that holds ground beside the only producing niobium mine in North America, advancing the Shipshaw property, a package of 48 mineral claims totalling approximately 2,686 hectares in the Saguenay region of Quebec, situated within the Saguenay graben of the Grenville geological province and characterized by a swarm of carbonatite and lamprophyre dikes. The Shipshaw carbonatite is one of five carbonatite intrusions in the Waswanipi-Saguenay zone selected for characterization by Geologie Quebec in metallogenic bulletin BM 2024-02.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Deepak Varshney, PGeo, a consultant to the company and a qualified person as defined by National Instrument 43-101.

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