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MONTRÉAL, June 27, 2024 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is proud to announce that, following the start of exploration work on the Foothills project, assay results confirm the presence of high TiO2 grades in massive ilmenite boulders. The Foothills project is located north of Saint-Urbain, 100 km north of Quebec City and 90 km south of Saguenay (La Baie region), Quebec. The project covers an area of approximately 285 km2 and comprises five separate claim blocks. It covers most of the contact of the intrusive zone known as the Saint-Urbain anorthosite.
Results of the first samples from the Summer 2024 exploration campaign
The samples taken were surface boulders found in the southern part of sector 1. The Company has presented only those boulders with a TiO2 value greater than 35%. These samples are shown on the high-resolution magnetic map.
Table 1: Intercepted mineralization
| Sample number | Type | TiO2 (%) |
| 162590015 | boulder | 39.4% |
| 162590016 | boulder | 38.9% |
| 162590018 | boulder | 36.6% |
| 162590019 | boulder | 38.5% |
| 162590022 | boulder | 38.9% |
| 162590158 | boulder | 36.8% |
| 162590165 | boulder | 37.2% |
| 162590304 | boulder | 38.2% |
| 162590312 | boulder | 37.7% |
May 2024 prospecting area and sample location
The Company also carried out a detailed magnetic survey in the Lac aux Bleuets area. This area, located on Séminaire de Québec land, was prioritized for its high potential, as determined by analysis of previous data and cross-referencing with artificial intelligence software (IRIS). The survey, carried out in June, showed a very strong anomaly in this sector. Drilling will be carried out on this site, subject to receiving the necessary authorizations.
High-precision magnetic survey map
Message from NioBay’s President and CEO on Crevier
“We are pleased to announce the first results of our exploration campaign on the Foothills project from the Lac aux Bleuets area (Area 1). Excellent TiO2 concentrations were found in massive ilmenite boulders. In addition, the geophysical survey conducted in June showed the site to be highly promising. Further results from zones 2 and 3 will follow shortly,” concludes Mr. David.
Qualified Person
This press release has been reviewed and approved by Jean-Sébastien David, P.Geo., a qualified person under National Instrument 43-101. Mr. David is President and CEO of NioBay.
About NioBay Metals Inc.
NioBay aims to become a leader in the development of mine(s) 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.