NioBay Metals Inc. (TSX-V  NBY) (OTCQB: NBYCF), is pleased to announce the completion and successful results of its metallurgical and hydrometallurgical test work. This work was carried out using mineralized 10 metric tonnes bulk sample from the Crevier niobium and tantalum (Ta) project, of which the Company owns 72.5%, with the remaining 27.5% held by Niobec Inc. (a division of Magris Performance Materials Inc.). The Crevier Project is located approximately 50 km north of Girardville and about 150 km from the Niobec mine. It lies within the Nitassinan (ancestral territory) of the Pekuakamiulnuatsh, whose main population center is Mashteuiatsh.

Highlights and Results

• The work was carried out with the support of a grant awarded by the Ministère des Ressources naturelles et des Forêts (MRNF) and the Consortium de recherche et d’innovation en transformation métallique (CRITM). The work title was “Demonstration of the Pilot‑Scale Niobium‑Tantalum Concentration Process and Production of Niobium and Tantalum Oxides from the Crevier Deposit Located in the Lac‑Saint‑Jean Region.”
• The final metallurgical report demonstrates a 70% recovery of Nb₂O₅, achieving the targeted grades ranging from 17% Nb₂O₅ to 36% Nb₂O₅ depending on the concentration stage.
• Hydrometallurgical test work shows high extraction efficiency and strong selectivity, with overall extraction rates (conventional process) averaging 92.3% for niobium and 95.8% for tantalum.
• The final product purity (via direct precipitation and calcination) is niobium pentoxide (Nb₂O₅) at 75.8% purity.
• With respect to by‑produc t valorization, the leach residues contain 19% to 32% zirconium.
• Preliminary fluoride‑free extraction tests using alkaline fusion and water leaching achieved high extraction yields – 86.4% for niobium and 91.4% for tantalum- using a low‑grade concentrate containing 13% Nb₂O₅.
• The metallurgical portion of the work (gravimetric separation, magnetic separation, flotation tests) was carried out at the facilities of SGS Canada Inc. a specialized independent firm, located in Québec city, Québec.
• The hydrometallurgical portion of the work (leaching, precipitation testing, calcination) was carried out at the facilities of SGS located in Lakefield, Ontario.

For competitive reasons, the SGS reports titled “ Pilot-Scale Niobium Magnetic separation and Flotation Tests on a Sample from the Crevier Deposit” and “The Development of a Selective Process for the Extraction and Recovery of Tantalum and Niobium and the Production of their Oxides from Low-Grade Ore from the Crevier Deposit”, respectively dated March 26, 2026 and March 30, 2026, will be made available to partners, potential customers, and financial institutions only under non‑disclosure agreements.

Updated Resource Estimate for the Crevier Project

Following the announcement of a new resource estimate on February 25, 2026, the Company is pleased to report that the final technical report titled “NI 43‑101 Technical Report – Mineral Resource Estimate Update for the Crevier Project” dated April 7, 2026, with an effective date of February 25, 2026, prepared by IOS Géosciences in accordance with Regulation 43-101 respecting Standards of Disclosure for Mineral Projects (“NI 43-101”), has been filed on SEDAR+.

Message from NioBay’s President and CEO

“We are pleased with the results obtained during this intensive period of metallurgical and hydrometallurgical work. The results exceeded our expectations and will allow us to begin large‑scale testing with confidence, thanks to the knowledge gained throughout this work. We were also pleasantly surprised by the results from Université Laval and CNETE with their alkaline process, as well as by the opportunity presented by the valorization of zirconium obtained during our leaching tests”, said Jean‑Sébastien David, P.Geo., President and Chief Executive Officer of NioBay.

Following studies demonstrating positive technical and economic parameters, the Crevier Project could be dedicated exclusively to the production of niobium oxide for battery and superalloy manufacturers.

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by Jean-Sébastien David, P.Geo., a “Qualified Person” under NI 43-101. Mr. David is President and Chief Executive Officer of NioBay.

About NioBay Metals Inc.

NioBay aims to become a leader in the development of mines with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or on ancestral lands we operate. In addition to other properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% i nterest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.

About Niobium

Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also increased value.