Summary of WA1's Conference Call Company and Industry Overview - **Company**: WA1 - **Industry**: Niobium mining and production - **Project**: Looney Niobium project in Western Australia Key Points and Arguments 1. **Importance of Niobium**: Niobium is highlighted as one of the best commodities due to its critical role in steelmaking and its high market value of approximately US $30,000 per tonne, primarily in the form of ferro niobium [2][5][11] 2. **Global Supply Dynamics**: Currently, three mines supply the global niobium market, with two located in Brazil. One Brazilian mine, Aracha, accounts for 74% of the world's non-opium niobium supply [3][4] 3. **China's Dependency**: China, which represents 37% of global niobium demand, relies heavily on Brazilian imports due to limited domestic supply [4] 4. **Market Growth**: The consumption of ferro niobium has increased by over 300% in the last twenty years, with a notable 5,000 tonnes increase in the last year despite lower steel production [11] 5. **Environmental Impact**: Niobium's role in enhancing steel properties contributes to reducing CO2 emissions from steelmaking, which accounts for 11% of global emissions [8] Project Development Insights 1. **Resource Estimates**: WA1 reported a maiden inferred resource estimate for the Looney project, with a total resource of 220 million tonnes at 1% Nb2O5, reflecting a 10% increase from previous estimates [15] 2. **High-Grade Zones**: Focus has been narrowed to two high-grade zones within the Looney deposit, with one zone containing 31 million tonnes at 2.3% Nb2O5 [16] 3. **Drilling and Testing**: Drilling has progressed efficiently, with three rigs operating on site, and flotation test work has confirmed the potential for producing ferro niobium and high-purity niobium oxide [22][23] 4. **Community Engagement**: WA1 has increased community initiatives, including training for traditional owners and partnerships with local ranger groups for environmental conservation [24] Financial and Strategic Position 1. **Funding and Cash Reserves**: WA1 has $70 million in cash and has maintained financial discipline, with growing support from North American and Australian institutional investors [24] 2. **Permitting and Development Timeline**: The company is advancing its permitting processes, which will significantly influence the development timeline of the Looney project [25] Additional Considerations 1. **Strategic Importance of Looney**: The Looney project is positioned as the world's second-best niobium deposit, with significant potential for high-value, low-risk development [25] 2. **Market Positioning**: The company aims to optimize resource extraction to ensure the best parts of the deposit are utilized first, enhancing its competitive edge in the niobium market [25]

For personal use only LUNI NIOBIUM PROJECT A ONCE IN A GENERATION DISCOVERY DIGGERS AND DEALERS MINING FORUM 2024 Best Emerging Company CORPORATE PRESENTATION AUGUST 2025 Nb IMPORTANT NOTICES AND DISCLAIMER Nature of Document: This presentation has been prepared and issued by WA1 Resources Ltd (WA1, the Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a re ...

Company Overview - NioBay Metals Inc. aims to lead in the development of mines with low carbon consumption and responsible water and wildlife management practices, emphasizing environmental, social responsibility, good governance, and stakeholder inclusion [4] - The company holds a 100% interest in the James Bay Niobium Project in Ontario and a 72.5% interest in the Crevier Niobium and Tantalum project in Québec, with an option to acquire an 80% interest in the Foothills project [4] Annual General Meeting (AGM) Highlights - The AGM was held on June 12, 2025, with shareholders representing over 46% of the total common shares attending [1] - New board members elected include Jean-Sébastien David, Josianne Beaudry, Laurence Farmer, Raymond Legault, Bruno Di Battista, and Serge Savard [2] - PricewaterhouseCoopers, LLP was re-appointed as auditors for the upcoming financial year, and the rolling stock option plan was re-approved [2] Stock Options Grant - Following the AGM, the company approved the grant of 1,215,000 incentive stock options to directors, officers, employees, and consultants [3] - One third of the stock options will vest immediately, while the remaining options are subject to a two-year vesting period, with a seven-year term at an exercise price of $0.06 [3] Industry Context - Niobium is a naturally occurring metal known for its ductility, malleability, and corrosion resistance, enhancing properties in various materials and applications across Mobility, Structural, and Energy sectors [5] - The addition of niobium to materials like steel, glass, and aluminum castings improves efficiency and reduces environmental impacts, thereby increasing their value [5]