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NioBay provides update on high volume of trading

NioBay Metals Inc.
NioBay Metals Inc.

MONTREAL, Oct. 18, 2022 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is a company focused on the exploration, development and use of critical green metals.

Following the high volume traded on October 17, 2022, NioBay would like to confirm that the activities on its exploration properties are normal and that the Company has no exceptional activities or situations to disclose.

The Company is currently conducting a drill program using the services of First Nations Drilling of Mashteuiash on its Crevier property in Quebec, following the discovery of showings during advanced prospecting work in June and July 2022 on the Crevier extension.

Seven holes for 2,400m have been drilled since September 14th, 2022; however, no assay results are available at this time. NioBay expects to receive the results of the first holes by the end of November 2022.

As for the James Bay Niobium Project, the situation remains unchanged. As previously stated publicly, the Company will return to the site when it deems that it has the acceptance of the stakeholders.

About NioBay Metals Inc.
NioBay is a company focused on exploration, development and use of critical green metals with an Environmentally, Sustainable, Governance, and Indigenous (ESGI) focus.

The Company holds a 100% interest in the James Bay Niobium Project located 45 kilometers south of Moosonee, in the MCFN Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum Project located in Quebec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation.

About Niobium
Niobium is a naturally occurring element. It is a readily available, reliable, soft 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 smarter and lower environmental impacts, while also delivering other benefits like better performance, improved safety, and increased value.

Cautionary Statement
Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company's plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

NioBay Metals Inc.

Jean-Sebastien David, geo.
President & CEO
Tel.: 514 866-6500
jsdavid@niobaymetals.com
www.niobaymetals.com