Mr. Kirby Renton reports

NIOBIUMX MINING REPORTS RESULTS OF GROUND RADIOMETRIC SURVEY AT SHIPSHAW, MAPS TWO DISTINCT RADIOMETRIC SIGNATURES ACROSS THE CORE CLAIMS, AND MOVES TO A HIGH-RESOLUTION AIRBORNE SURVEY OF THE FULL 2,686-HECTARE PACKAGE

Niobiumx Mining Inc. has released the results of a ground radiometric survey completed in May, 2026, over the core claims of its Shipshaw property in the Saguenay region of Quebec.

"Our ground survey found two different radiometric signatures across nine claims, under cover, with no outcrop to look at," said Kirby Renton, president and chief executive officer. "Niobec, the only producing niobium mine in North America, was first identified from the air by a radiometric survey in 1967, and Canada, which produces all of its niobium there, supplies roughly three in 10 of America's ferroniobium and niobium metal imports. Our next step is to fly all 48 claims, not nine."

The geology and mineralization of the neighbouring Niobec mine are not necessarily indicative of mineralization at Shipshaw. The radiometric results are preliminary in nature and do not, on their own, establish the presence of niobium mineralization on the property. The Shipshaw property has no current mineral resource or mineral reserve estimate.

The survey was carried out from May 5 to May 8, 2026, with a hand-held RS-230 scintillometer by Magnor Exploration and BB Consulting on the company's behalf. Radiometric methods measure the natural gamma radiation of near-surface rock and soil, which comes mainly from potassium, uranium and thorium, and are a recognized reconnaissance tool in the Saint-Honore district.

Key highlights:

1. Survey completed: A ground radiometric survey was completed in May, 2026, over the nine core claims of the property (approximately 514 hectares).
2. Two radiometric populations: The survey identified two radiometric populations across the surveyed ground, averaging approximately 60 to 80 and 100 to 120 counts per second, which the report's author interprets as reflecting two different underlying lithologies. Clusters of low-amplitude readings were flagged as zones of interest for follow-up.
3. Why radiometrics in this district: Carbonatite and alkaline systems are commonly enriched in thorium and potassium, and the neighbouring Niobec deposit was first identified in 1967 by an airborne radiometric survey during uranium exploration. The 2026 ground survey recorded total radiation counts; the planned airborne spectrometer survey is designed to separate thorium, potassium and uranium across all 48 claims.
4. Under cover, which is why the company flies it: No outcrop was found during the survey; the core claims sit under overburden, which limits what any ground crew can see. Airborne magnetics see through that cover, which is why the next step is a high-resolution airborne magnetic and radiometric (mag-spec) survey of the full land package.

Historical context

Historical drilling by a previous operator in 2010 and 2011 intersected the carbonatite complex in all holes on the property, consistent with the Saint-Honore carbonatite setting.

Next step: high-resolution airborne geophysics

With the ground radiometric survey complete, the company's next step is a high-resolution airborne magnetic and radiometric survey designed to cover the full 48-claim, 2,686-hectare package and to define and rank drill targets. The company intends to announce the program details when finalized.

Project summary

Niobiumx holds ground beside the only producing niobium mine in North America -- the Shipshaw property, 48 claims and approximately 2,686 hectares in the Saint-Honore carbonatite district of Quebec, whose nearest claim boundary lies approximately two kilometres from the Niobec mine. 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, and the property covers a low-magnetic anomaly -- the geophysical signature these systems share -- defined by a helicopter-borne magnetic survey flown in 2010. Historical drilling by a previous operator intersected carbonatite in every hole. The company is advancing the property through a staged, data-driven program of high-resolution geophysical surveying and machine-learning target generation, designed to define and rank drill targets across the full land package. 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.

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 U.S. 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 Babak V. Azar, PGeo, Geo (OGQ No. 10876), an independent consultant and a qualified person as defined by National Instrument 43-101.

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