NioBay Announces the Nomination of Derek Teevan and the Results of AGM

MONTREAL, June 05, 2020 - Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) is pleased to announce the appointment of Mr. Derek Teevan to the position of Vice President, Aboriginal & Governmental Affairs. Mr. Teevan has over 20 years of experience in the mining industry, and previously held various C-Suite positions at Detour Gold and De Beers Canada.

“We are thrilled that Derek has officially joined the growing NioBay team. Derek was instrumental in obtaining the numerous environemental assessment and permits while also leading the engagement and negotiating the agreements with Indigenous communities to allow the Victor Diamond Mine and the Detour Gold mine to proceed. Derek brings to NioBay the unique experience of developing two mines with the same First Nations impacted by the Company’s James Bay Niobium project. Strengthening the team with leaders who have built projects in the area will lead us to success”, said Claude Dufresne, President & CEO of Niobay Metals Inc.

ANNUAL SHAREHOLDERS MEETING

The Company is pleased to announce the results of its annual meeting (“AGM”) of shareholders held on June 4, 2020. Shareholders holding a total of 20,800,693 common shares of the Company attended the AGM in person or were represented by proxy, representing over 40% of the 52,254,580 common shares issued and outstanding.

Jacques Bonneau, Jean-S?bastien David, Claude Dufresne, Dawn Madahbee Leach, Raymond Legault and Serge Savard were re-elected to the board of directors. The shareholders also re-appointed PricewaterhouseCoopers, LLP as auditors for the ensuing financial year and re-approved the Company’s rolling stock option plan.

GRANT OF STOCK OPTIONS

Following the AGM, the Company approved the grant of an aggregate of 905,000 incentive stock options to directors, officers, employees and consultants of the Company. One third of the stock options granted will vest immediately and the remaining stock options granted are subject to a two year vesting period. All grants have a five-year term at an exercise price of $0.28. The stock options have been granted pursuant to the Company’s Stock Option Plan and are subject to applicable securities laws and TSX Venture Exchange policies.

ABOUT NIOBAY METALS INC.
Niobay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. Niobay also holds a 72.5% interest in the Crevier niobium and tantalum project located in Quebec and a 49% direct participation in mineral titles situated in the Chibougamau and Normetal region, Quebec, under a joint venture agreement with SOQUEM.

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.

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