NioBay Metals Announces New Mineralized Intersections

Initial Crevier drill results show high tantalum and niobium grades; resource update pending.

What the company is saying

NioBay Metals Inc. is highlighting the first results from its 2026 10,000-meter drilling campaign at the Crevier niobium and tantalum project, where it holds an 80.2% interest. The company emphasizes that the first 5,000 meters, focused on the northern sector, delivered tantalum intersections above the deposit's average grade in the first 13 holes, with more than 15 meters of above-average mineralization in nine specific holes. Detailed assay tables are provided, with standout intervals such as 978.06 ppm Ta2O5 over 1.00 m and 0.82% Nb2O5 over 1.00 m. NioBay frames the campaign as a step toward updating the resource estimate and ultimately producing niobium oxide for batteries and high-purity tantalum oxide. The announcement is technical and data-driven, with President and CEO Jean-Sébastien David, P.Geo., directly quoted on the results and next steps. The company also reiterates its 100% ownership of the James Bay Niobium Project in Ontario and its commitment to responsible ESG practices and Indigenous participation.

What the data suggests

The disclosed data confirms NioBay is midway through a 10,000-meter drill program at Crevier, with 5,000 meters completed and results from the first 13 holes received. Tantalum grades in these intervals consistently exceed the 200 ppm Ta2O5 threshold, with notable assays such as 505.51 ppm Ta2O5 over 1.00 m (hole 1532-26-16), 604.42 ppm Ta2O5 over 1.20 m (hole 1532-26-18), and 978.06 ppm Ta2O5 over 1.00 m (hole 1532-26-24). Niobium grades above 0.2% Nb2O5 are also reported, including 0.82% over 1.00 m (hole 1532-26-24) and 0.45% over 1.00 m (hole 1532-26-30). More than 15 meters of above-average tantalum mineralization were intercepted in nine holes, supporting the company's claim of strong initial results. The campaign is on track to conclude drilling by the end of October 2026, with a resource estimate update to follow. No financial, cost, or economic data are disclosed, and the results are strictly technical. The evidence supports the company's narrative of promising mineralization but does not yet quantify overall resource size or economic viability.

Analysis

The announcement provides detailed and specific technical results from the ongoing 2026 drilling campaign at the Crevier project, including assay grades, intervals, and drill hole IDs. The majority of claims are realised and supported by disclosed data, such as the number of meters drilled, specific intersections above average grade, and the operational status of the campaign. Forward-looking statements are limited to the upcoming resource estimate and future assay releases, both of which are standard and expected in exploration-stage updates. The tone is positive but proportionate to the evidence, with no exaggerated claims about imminent production or economic impact. The capital intensity flag is set due to the scale of the 10,000-meter drilling program, but this is normal for a junior explorer and not paired with unrealistic near-term benefit claims. There is no narrative inflation or overstatement; the language is factual and technical.

Risk flags

• ●Resource and economic upside remain unproven until the updated resource estimate is released; current results, while promising, are limited to select intervals and do not establish overall deposit scale or continuity.
• ●No financial or cost data are disclosed, so the capital requirements for advancing Crevier beyond the current drill phase are unknown; this limits visibility into funding needs and potential dilution.
• ●The project's future depends on successful community engagement and environmental management, as the Crevier Project is located on the Nitassinan of the Pekuakamiulnuatsh; failure to secure ongoing consent could delay or halt development.
• ●Operational execution risk exists as the campaign is ongoing, with further results for the central and southern zones still pending; any negative or inconsistent results could materially alter the project's outlook.

Bottom line

NioBay Metals' initial 2026 drill results at the Crevier project indicate high-grade tantalum and niobium mineralization over significant intervals, supporting the technical potential of the deposit. The company is transparent with detailed assay data and clear about the campaign's near-term milestones, with drilling set to finish by the end of October and a resource update to follow. However, the absence of economic, cost, or resource tonnage figures means investors cannot yet assess the project's overall scale or viability. Key risks include the need for further positive results, successful community relations, and future financing. The most important takeaway is that while these results are encouraging, the investment case will hinge on the forthcoming resource estimate and subsequent economic studies.

Announcement summary

(TSXV:NBY, OTCQB:NBYCF) NioBay Metals Inc. announced initial results from its 2026 summer-autumn drilling campaign at the Crevier niobium and tantalum project, in which it holds an 80.2% interest. The Crevier Project is located approximately 50 km north of Girardville and about 150 km from the Niobec Mine, within the Nitassinan of the Pekuakamiulnuatsh. The company commenced a 10,000-meter drilling campaign in mid-June 2026, focusing on the northern sector (noted for higher tantalum grades in 2023), the southern extension, and testing dikes at depth. The first 13 holes received yielded tantalum intersections exceeding the deposit's average grade, with more than 15 meters of mineralization above average tantalum content in holes 1532-26-18, 1532-26-22, 1532-26-23c, 1532-26-24, 1532-26-25, 1532-26-29, 1532-26-30, 1532-26-32, and 1532-26-34. Drilling operations, conducted by Forage Première Nation de Mashteuiatsh and supervised by IOS Services Géoscientifiques and NioBay, are scheduled to conclude at the end of October 2026. Table 1 details composites of intercepted mineralization exceeding 200 ppm Ta2O5, with notable intervals such as 505.51 ppm Ta2O5 over 1.00 m (hole 1532-26-16), 604.42 ppm Ta2O5 over 1.20 m (hole 1532-26-18), and 978.06 ppm Ta2O5 over 1.00 m (hole 1532-26-24). Table 2 presents composites of intercepted mineralization above 0.2% Nb2O5, including intervals such as 0.82% Nb2O5 over 1.00 m (hole 1532-26-24) and 0.45% Nb2O5 over 1.00 m (hole 1532-26-30). Borehole locations and orientations are provided for each drill hole, with lengths ranging up to 450 m. Jean-Sébastien David, P.Geo., President and CEO of NioBay, stated that the first 5,000 meters targeted the northern zone, where lower niobium but higher tantalum was anticipated, and that a new resource estimate will be released after the campaign. The Crevier operation is intended to produce niobium oxide for battery manufacturers and high-purity tantalum oxide. NioBay also holds a 100% interest in the James Bay Niobium Project located in Ontario. The company emphasizes responsible environmental, social, and governance practices and prioritizes Indigenous community participation. Further results from the central and southern drill holes will be released as they become available.

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