NioBay Metals Inc. ($VNBY) is excited to announce a new resource estimate (the “2026 MRE”) for the Crevier niobium (Nb) and tantalum (Ta) project (the “Crevier Project”), with NioBay holding a 72.5% ownership and Niobec, a subsidiary of Magris Performance Materials Inc., holding 27.5%. The Crevier Project is strategically located approximately 50 km north of Girardville and about 150 km from the Niobec mine, within the ancestral territory of the Pekuakamiulnuatsh people.
The Company engaged IOS Geoscientific Services to update the previous resource estimate from 2010 (the “2010 MRE”). This work complied with NI 43-101 regulations and was completed in February 2026. The updated estimate includes calculations based on an optimized pit and a significant revision of production costs, leading to a more robust economic model. A technical report will be filed on SEDAR, including various selling price scenarios based on marketing niobium as a specialty product rather than on an Nb₂O₅ basis. The 2026 MRE also incorporates recent drilling results from 2022, 2023, and 2025, along with metallurgical tests conducted in 2025 on a bulk sample.
This new estimate has converted 16,257,000 tons at 0.17 Nb₂O₅ and 201 ppm Ta₂O₅ into measured resources, a significant increase from the previous estimates.
Comparative Parameters of 2010 MRE vs. 2026 MRE
Based on a pit scenario at US$82/kg of Nb, the updated assessment highlights the project's potential.
A Word from the President and CEO
Jean-Sébastien David, P.Geo., President and CEO of NioBay, expressed, “We are pleased to present this updated resource estimate for the Crevier project, a key milestone for continuing our discussions with potential clients and partners. The results and methodologies used make this estimate significantly more robust. This new resource provides an excellent basis for planning future fieldwork.”
With positive technical and economic parameters identified, the Crevier project is poised to focus on producing niobium oxide for battery and superalloy manufacturers.
This press release has been reviewed and approved by Jean-Sébastien David, P.Geo., a Qualified Person under National Instrument 43-101. The Company has also approved the granting of 475,000 incentive stock options to a director and consultants. One-third of these options will vest immediately, while the remainder is subject to a two-year vesting period. The options have a seven-year term at an exercise price of $0.10.
NioBay is dedicated to becoming a leader in mining practices that prioritize low carbon consumption and responsible management of water and wildlife. The Company emphasizes the importance of engaging Indigenous communities in whose territories they operate. NioBay also owns a 100% interest in the James Bay Niobium Project and continues to hold a 72.5% stake in the Crevier Project.
Niobium is a crucial metal in various applications across the Mobility, Structural, and Energy sectors. Its unique properties enhance materials, making them more efficient while reducing environmental impacts. For more information on NioBay and its projects, visit Inside Ticker.