NioBay Metals : applauds phosphorus critical minerals classification

NioBay Metals applauds phosphorus critical minerals classification

Montréal, Québec - June 18, 2024 - Recently announced updates to Canada's list of critical minerals will support the country's transition to a greener future, said NioBay Metals Inc. ("NioBay" or the "Company") (TSX-V: NBY) (OTCQB: NBYCF) today. The Company highlighted the addition of phosphorus to the list, as well as new tax credits for tantalum and niobium.

There are 34 minerals on the list, which now includes high-purity iron ore, phosphorus, and silicon metal. All are deemed essential to the development of clean technologies and in various industries like microchips, green steel, and lithium-iron-phosphate batteries. The updates to the list of critical minerals that will underpin the country's future economic prosperity were announced by John Wilkson, Canada's Minister of Energy and Natural Resources, on June.

"This development perfectly supports our Foothills project, acquired in partnership with Vior Inc., for its strong potential in critical and strategic metals," says Jean-Sébastien David, President and CEO of NioBay Metals. Mr. David is experienced in phosphate, have worked on the development of a phosphate project at Lac à Paul during his years with Arianne Phosphate Inc.

NioBay signed an option agreement to acquire an 80% in the interest in the titanium-phosphate project earlier this year. Located on a former site north of Saint-Urbain in Québec's La Baie region, Foothills has the potential to meet the growing demand for energy and critical materials. The Foothills project, covering 285 km² on Séminaire de Québec properties, has shown phosphate-rich samples of up to 6.3% P2O5, with over 10% in some boulders.

By diversifying its portfolio with critical minerals, NioBay Metals is committed to providing local and sustainable solutions for Canada's energy transition.

FOR MORE INFORMATION, CONTACT:

Niobay Metals Inc.

Jean-Sébastien David

President & CEO

Tel.: [phone]

[e-mail]

www.niobaymetals.com

Kimberly Darlington

Investor Relations

Tel: [phone]

[e-mail]

June 18, 2024

by Pilote

0