James Bay Niobium PEA Delivers an After-Tax NPV(8%) of $1.0 Billion and IRR of 27.5%

Will little-known niobium form the basis of northern Ontario's next mine? Niobay Metals Inc. has announced results of an independent Preliminary Economic Assessment (the “PEA’’) for its wholly-owned James Bay Niobium project , located 40 km south of the island of Moose Factory. The PEA was prepared with independent engineering firm G Mining Services Inc.

Because of the geometry and location of the deposit, three mining scenarios were evaluated i.e. open pit (scenario #1), underground (scenario #3) and a hybrid of both mining methods (scenario #2). Details of the financial and technical highlights of all three scenarios are available on the NioBay website at http://niobaymetals.com/wp/en/home-2/

Claude Dufresne, President & CEO, commented: We are very pleased to finally be able to demonstrate the value of the James Bay Project as highlighted with the PEA. All three scenarios deliver robust returns but also provide strong and long-term economic opportunities to shareholders and to local stakeholders.”

Claude Dufresne continued: “We are excited to move to the next phase that will include a definition drilling program, baseline and technical studies, and strengthen our engagement and business relationship with Moose Cree First Nation and other stakeholders.”

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