Montreal, December 11, 2019. Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) is pleased to provide an update of activities related to the Company’s niobium and tantalum project (the “Crevier Project”), the James Bay Niobium Project, in addition to a corporate update.
James Bay Niobium Project
The Company would like to announce that on December 16th, Moose Cree First Nation (“MCFN”) will be hosting an information session for its members on the progress made by MCFN and the Company on a Protection Agreement. The Protection Agreement is expected to be finalized before the end of the year and relates to the upcoming exploration program on the James Bay Niobium project.
As indicated on our June 26, 2019 press release, Les Minéraux Crevier signed an agreement with COREM research and development center in Quebec City in relation of a metallurgical program to test innovative technologies with a focus on pre-concentration technologies and new reagents developed over the last few years. The first series of tests were completed and the Company will commence a series of flotation test work. The first set of results are expected late in the first quarter of 2020.
In relation to this work, the Company is proud to announce that it received a grant of an amount of up to $144,800 from The Ministère de l’Énergie et des Ressources Naturelles du Quebec, as well as a second grant from the Ministère de l’Économie et de l’Innovation du Quebec of an amount of up to $108,600.
Appointment of a new CFO
The Company would like to announce the appointment of Mr. Anthony Glavac to the position of Chief Financial Officer following the resignation of Mr. Alain Krushnisky. Mr. Glavac has over 15 years of experience in financial reporting, including over 10 years in the mining industry. He also currently holds the positions of Chief Financial Officer at Falco Resources Ltd. and Osisko Metals Incorporated and previously held various positions at Dynacor Gold Mines and Alderon Iron Ore Corp.
This press release was verified and approved by Claude Dufresne, P. Eng, and Qualified Person as defined by NationaI Instrument 43-101. Mr. Dufresne is the President and CEO of Niobay.
About NioBay Metals Inc.
NioBay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay Niobium Project located in Ontario and a 72.5% interest in the Crevier niobium and tantalum project located in Quebec. In addition, NioBay holds a 49% direct participation in certain mineral titles located in the Chibougamau region, Quebec, under a joint venture agreement with SOQUEM.
Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws. Such statements include, without limitation, the statements regarding the Company’s plan to complete a metallurgical program and the mineral resource estimate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. There can be no assurance that such statements will prove accurate.
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.
For more information, contact:
Claude Dufresne, P.Eng. President & CEO NioBay Metals Inc.
Tel.: 514 866-6500, Ext. 2221