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‘’diversified junior exploration/development company’
A NIOBIUM FOCUS COMPANY
October 2019
Forward Looking Statements
This presentation contains certain “forward-looking statements”, including, but not limited to, the statementsregarding the Company’s strategic plans, its anticipated benefits and the use of proceeds resulting thereof, inparticular, future financial results, production targets and timetables, the evolution of mineral reserves andresources, mine operating costs, capital expenditures, work programs, development plans, explorationprograms, objectives and budgets, the possible determination of additional reserves, and the Company'seventual success to execute its strategy to focus on building its portfolio of properties. Forward lookingstatements express, at this date, the Company’s plans, estimates, forecasts, projections, expectations or beliefsas to future events and results. Forward-looking statements involve a number of risks and uncertainties, andthere can be no assurance that such statements will prove to be accurate. Therefore, actual results and futureevents could differ materially from those anticipated in such statements. Risks and uncertainties that couldcause results or future events to differ materially from current expectations expressed or implied by theforward-looking statements include, but are not limited to, factors associated with fluctuations in the marketprice of metals, mining industry risks, exploration risks, risks associated with foreign operations, environmentalrisks and hazards, uncertainty as to calculation of mineral reserves, requirement of additional financing oradditional permits, authorizations or licenses, risks of delays in construction and production and other risksreferred to in the Company’s Annual Information Form.
Claude Dufresne, P. Eng, acted as the qualified person as defined in National Instrument 43-101. He reviewedand approved the technical and scientific content of this presentation.
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Company Profile
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DIRECTORS & MANAGEMENT
Serge Savard, ex NHLBusinessman, Real Estate
Chairman
Claude Dufresne, P.Eng+15 years niobium biz, Iamgold/Cambior
President & CEO
Alain Krushnisky, CAHighland Copper, Reunion Gold
CFO
Jean-Sébastien David, P.EngAriane Phosphate Inc, Osisko
Director
Raymond LegaultRetired Financier Advisor
Director
Jacques Bonneau, GeoEx-CEO Mazarin/Niobec
Director
Dawn Madahbee LeachWaubetek Business Development Corporation / First Nations
Director
STOCK INFORMATION ($CAD)
Symbol NBY
Exchange TSX-V
Market Cap $22 M
Shares Outstanding 45.7 M
52-week high $0.82
52-week low $0.11
Cash (June 2019) $1.6 M
Updated October 16 2019
MAJORS HOLDERS
Osisko Gold Royalties 20%
Toronto based High Net Worth 16%
Caisse de Dépôt & Placement Inc 6%
Management 6%
Niobium an Undeniable Ally for Steel
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By adding it in steelmaking process Niobium improves steel propertiesProduction of High Strength Low Alloy Steel
Stronger
Flexible
Lighter
Toughness
Weldability Contribute to GHG Reduction
$10 of Niobium in a mid-size vehicule5%
liters / km economy
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Construction47%
Automobile24%
Oil & Gas17% Plates (shipbuilding) 6%
Stainless Steel 3%
Others 3%
Niobium – Global Markets
Niobium – Innovation and Development
Toshiba – New EV battery with possible range of 320 km with a 6-minute charge.
Anode made of a niobium-titanium oxide, replacing graphite.
Estimated market entry : 2020
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Toshiba EV Battery
Aluminum Grain RefinementNiobium- Boron alloy to Aluminum in vehicle parts for example:
Potential Weight Loss ≈ 30% with no loss of strength
Increased Toughness and Mechanical properties
$30
$32
$34
$36
$38
$40
$42
$44
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
7Source: Global Trade Atlas, Camet Metallurgy Inc
Price Ferro-Niobium (US$/kg)
USD
/kg
Nb
Niobium – Global Markets
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
World Consumption (t FeNb)
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N.A.17%
Europe28%
China30%
Others 25%
2009
Niobium – Global Markets
N.A.19%
Europe23%
China34%
Others 24%
2018
55,000 tFeNb
106,500 tFeNb
Niobium - World Supply
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Araxa
Niobec
Catalao
11%
Source: Camet Metallurgy Inc
Mine Niobec Catalao Araxa
Location
Resources(M tonnes) ~55 39 +800
Grade(%Nb2O5) 0.53 0.93 2.50
M&A($US million)
Sold 2015$500
Sold 2016$1,700
Sold 30% 2012
$3,90014%
75%
Only 3 producers sharing global demand for over +40 yearsOther countries rely 100% on imports
James Bay Niobium Project
Moose River, Moose Factory
Project Location
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James Bay Lowlands, Northeastern Ontario
James Bay Niobium
Detour Gold
Moosonee
Project Location
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James Bay Niobium’s History
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Discovered in 196614,000 meters of drilling at an average depth of 170 meters in 85 holes.Historical estimate of 56M t @ 0.52% Nb2O5.
Open at depth (below 275m).Exploration shaft (~40m ) & a 75m cross-cut.225 t extracted for metallurgical testing (pilot plant).
Lakefield Research carried out metallurgical testsOverall recovery of 78%, very low impurities, and high grade concentrate.
Feasibility study completed by Bechtel Canada in 1969
Access to all historical technical data and drill cores.Note: NioBay Metals has not yet undertaken the work necessary to verify or classify the historical estimates. Economic studies completed in the1960s does not mean the James Bay Niobium deposit would be found to be economic today. NioBay Metals is not treating the historical results as acurrent mineral resource nor as having been verified by a qualified person.
James Bay Niobium Resources
A Mineral Resource Estimate 2018 (43-101) was published by RPA.
Mineralization is open at depth (> 275m). A crown pillar is excluded from the resource (abt 6 Mt). 30m of overburden. High potential to increase resources.
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Classification(cut-off
0.3%Nb2O5)
Tonnes Grade Contained Nb2O5
(Mt) (%Nb2O5) (Mkg)
Indicated 26 0.53 137Inferred 25 0.51 128
Total Ind. & Inf. 51 0.52 265
Equivalent to a gold deposit of ~3.1 g Au/t with 5,200,000 oz of gold!1
1: NON 43-101 / Niobium valued at 42 US$/kg Nb, $1500/oz Au
Deposit
15ft
Niobec vs James Bay Niobium Carbonatite
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Pillier?Pillier?
Open at depth
30m
-100m-
-200m-
-300m-
Niobec has been in operation for over 43 years
Araxa Catalao Niobec James Bay Niobium
Owner
Location Brazil Brazil Quebec, Canada Ontario, Canada
Valuation 14 B$US2 1.7 B$US3 1.5 B$US +23 M$CA(Market Cap)
Resource (M tonnes) +800 384 205 511
Resource Grade(%Nb2O5) 2.50% 0.93% 0.53% 0.52%
Recovery 61% 42% 64% 78%
Prod. Capacity(Nb) (tonnes) 70,000 8,600 7,000
~6,500
(target 5% world share)
Recoverable Unit (Nb2O5 kg/tonne) 15 3.90 3.4 4.05
Benchmarking
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1. RPA 43-101 2018 Mineral Resources Estimate w/ 0.3% Nb2O5 cut-off2. Based 2012 transaction with Asian partners3. 2016 acquisition included a phosphate asset. Acquisition based on 10X EBITDA4. Anglo American Fact Book 20155. December 2010 Reserves & Resources 2,400’ without backfill on block 5. NBY estimates as of June 2019.
Source: Company reports
+25%
Receipt of Exploration Permit
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Drilling Program to test high grades extension laterally and at depth. Pursuit the metallurgical tests, and preliminary geotechnical evaluation.
Small 8 holes program. Company is fully financed to
support program. Working w/ MCFN on Protection
Agreement.
275m
Committed to Indigenous Participation
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Niobay is committed to engagement and participation of Indigenouscommunities. New Chief & Council elected on July2, 2019. New leadership is seeking increase wealth for their community. Information Center in Moosonee to provide information on the James Bay
Niobium project to the local community. Community Open house held with MENDM staff in Moosonee. Value MCFN to become partner in the project.
Planning for next 12 months
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JR Resolution
Exploration Agreement w/ MCFN
Drilling Program
Resource Calculation
Preliminary Economic Assessment (PEA)
p
If PEA is positive, engage with MCFN, Baseline, etc…
Crevier Project (niobium & tantalum)
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CREVIER NIOBIUM & TANTALUN PROJECTGIRARDVILLE, QC
Introduction Crevier
The Crevier Tantalum and Niobium project is located 65km north of the municipality of Girardville, Québec. Two metals identified as green and critical by the United States and the EU. Demand rising strongly in technological applications. Crevier would become the only Niobium and Tantalum Oxide producer in
North America. Great potential for the economic and social development of the Saguenay-Lac-
St-Jean region Deposit discovered by SOQUEM in 1974 and taken over by Cambior
(1986). Acquired an 50% from Iamgold in 2008. NioBay to continue the development of the project.
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Location
Located in the mining friendly region of Lac St-Jean, province of Quebec, Canada.
Supported by Quebec government’s Plan Nord and local first nation group.
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CREVIER Project
Quebec cityMontreal
Canada
Quebec
Easy access: 85 km north of
Dolbeau-Mistassini. Road access to site.
Industrial region: Rio Tinto Alcan
smelters. Deep water port.
The project is welcomed all stakeholders.
Deposit
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Geology Section
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Pegmatite Nepheline
Syenite
Carbonate Biotite
Nepheline Syenite
Albite-Carbonate-HermatiteAlteration
0.248 % Nb2O50.032 % Ta2O5/ 21.00 m
0.195 % Nb2O50.025 % Ta2O5/ 25.50 m
Resources (NI 43-101 )
Niobium and Tantalum resource: Comparable grades to actual producing mines and developing
projects. 25+ years of mine life at 1 million tons per year throughput. Exploration works are to extend the resource southeast.
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Tonnage (Million tons)
Grade
Nb2O5 (%) Ta2O5 (ppm)
Measured 12.5 0.20 234
Indicated 12.9 0.19 234
Total (M+I) 25.4 0.20 234
Inferred 15.4 0.17 252
NI 43-101 Resources update on Crevier property, July 2010.Mineral resource within the geological deposit, 0.1% Nb2O5 cutoff grade.Niobium: High grades cut to 0.5% Nb2O5.Tantalum: High grades cut to 550 ppm Ta2O5.
Crevier Project: Planning
Update PEA of 2010 (underway). Complete metallurgical works (summer 2019). Complete Feasibility Study
Improve metallurgy Permitting Environmental studies Engineering
Financing and construction28
To do
Done Preliminary Economic Assessment. Resources update (NI 43-101). Pilot plant SGS. Pilot Plant COREM.
2010201020122013
1986: Transfer to Cambior
1975: Discovery by SOQUEM
2006: Iamgold buy Cambior
2008: Crevier Minerals Inc. (CMI) acquire the property from Iamgold in exchange of a 50% stake in CMI
2009: increase its equity in CMI to 72.5%
2024: Production
Feasibility Study: Mine Design (2010)
No campsite accommodation is required.
Pumping station near Lake Kapapapmeutanu.
9,8 km of access road option to be built.
Pit optimization and pit stability.
Waste water management.
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Tailing pond B2
Tailing pond B1
Pit
Processplant
Wasterock
Update PEA 2019
Open Pit Optimization 0 6 smaller pits vs 1 Flexibility to access higher grade
Reduction of the strip ratio (<24%) mainly first years.
CAPEX & OPEX under review.
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0
1
2
3
4
5
6
7
8
9
10
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
N2_P1 N3_P1 N1_P2 N2_P2 N3_P2 S1_P1 S3_P1 S1_P2 S2_P2 S3_P2
Strip
Rat
io (W
:O)
Tonn
age
(kt)
Ore Waste Strip Ratio
Feasibility Study: Metallurgy
SGS Pilot plant testing in 2012. Using approximately 250 tonnes of
mineralization collected from a near-surface location grading 0.02% Ta2O5 and 0.21% Nb2O5, similar to the resource average
SGS Hydromet testing in 2012. Confirmed the amenability of the
Crevier pre-concentrate to HF/H2SO4-SX refining
COREM Pilot plant testing in 2013. Using 50 tons of material at an
average of 0.24% Nb2O5 & 0.03% Ta2O5 in the feed.
The pilot plant achieved higher Ta & Nb recoveries than the associated laboratory tests, but lower grade (due to the higher CaO in the concentrate).
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From the reviewed methods, H2SO4 based route seems to be the most promising. Combination with other concept(s) may also be needed to achieve the target performances .
Assess the opportunity of HF regeneration.
Feasibility Study: Environment
According to the Department of Natural Resources and Wildlife (MRNF) and the Ministry of Sustainable Development, Environment and Parks (MDDEP), No mention of plants threatened, vulnerable or
likely to be so designated is reported for the area covered by the Project.
No exceptional forest ecosystem is listed in the study area.
No wildlife habitats, mapped according to the regulations, is currently protected except for the fish habitat that consists of all the lakes, marshes, swamps, floodplains or streams where there are fish.
Still need to identify any environments incompatible with development and the need for an impact statement for the BAPE.
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Crevier Minein Quebec
Strategy
NBY intend to create a Niobium and Tantalum mine-to-smelter industry in North-America.
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Tantalum oxide / K-salt: Offtake. TBC
Niobium oxide: Alloys manufacture?
Offtakes agreements with actual processors. Focus toward Ta processors.Ta
Create a J.V. to build a new Alloys manufacturingfacility in Quebec. Focus toward Nb alloys & metal (Ta may be included). Masteralloys end-users. Speciality metals producers. Price and supply stability.
Nb
Aerospace: Superalloys, NiNb,
VG/HP FeNb Superconductors: Nb & Ta Metal
Local Financial Partners
Discussion over construction of a Demonstration plant.
Conclusion / Crevier
The Crevier deposit hosts a world-class resource of Niobium & Tantalum.
Only Niobium & Tantalum project in North America.
Demand growth fundamentals are strong.
Consolidation trend in the supply chains in order to secure supply. Well developed end-market in North America.
Solid economic study results.
Program to reinitiate the development of the project.
Strong support from local investment funds.
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