NioBay Metals Inc. announced the execution of a definitive option agreement, with Vior Inc. to acquire an 80% undivided interest in Vior?s Foothills Project (the ?Project?), with strong potential for the discovery of critical and strategic metals. The Foothills Project is located north of St. Urbain, 100km north of Québec City and 90km south of Saguenay (La Baie area), Québec.

The Project covers an area of approximately 285km2 and is comprised of 5 separate claims blocks. It covers most of the contact of the intrusive zone known as the St. Urbain anorthosite.

This zone has demonstrated the presence of rutile-ilmenite with results up to 57% of titanium dioxide (TiO2), as well as apatite (Note: Vior referred to as phosphate). Of 139 outcrop samples collected, 67 contain P2O5 values of 4.0 to 6.3%, and boulder samples reveal some historic higher-grade mineralization of over 10% P2O5 (Sigeom, QC). The operative date for a contractual joint venture between Niobay and Vior (the ?Joint Venture?) will be the date on which the Option will be completed.

The Option Agreement provides that once one party?s interest in the Foothills Project and/or the Joint Venture falls below 10%, this interest will transferred to the other party and converted into a 1.5% NSR (Net Smelter Return) on precious and base metals and a 1.5% GRR (Gross Revenue Royalty) on mineral substances other than precious or base metals), with a 0.5% NSR/0.5% GRR being collectively redeemable for an aggregate amount of $1,500,000. Vior and NioBay deal at arm?s length and no finders fees will be payable in connection with this transaction. The Option Agreement is subject to the approval of the TSX Venture Exchange.