Core Insights - NioBay Metals Inc. has announced the initial results from its 2025 summer drill campaign at the Crevier niobium and tantalum project, confirming the presence of mineralized zones over a strike length of more than 6 km [1][2][13] - The campaign, consisting of 15 drill holes covering 3,324 meters, was supported by the Government of Québec and aimed at verifying mineralization continuity [2][3] - The results from the first eight drill holes indicate significant mineralization, which will contribute to an updated resource estimate for the project [2][13] Company Overview - NioBay Metals Inc. holds a 72.5% interest in the Crevier Project, located in Québec, and aims to focus on producing niobium oxide for battery manufacturers [1][13] - The company is committed to responsible mining practices, prioritizing environmental sustainability and the involvement of Indigenous communities [15] Drill Results - The initial drill results show various intersections of niobium (Nb2O5) and tantalum (Ta2O5) with notable percentages, including: - Drill hole 1532-25-01: Nb2O5 at 0.2991% over 4.00 m [4] - Drill hole 1532-25-02: Nb2O5 at 0.3281% over 4.05 m [4] - Drill hole 1532-25-04: Nb2O5 at 0.3541% over 1.00 m [4] - The campaign also revealed the presence of rare earth elements and strontium in the mineralized zones [13] Future Plans - The company plans to conduct a second pilot test using the mineralized material recovered from this campaign, which is expected to be more than ten times the volume of the first pilot test [3] - A bulk sample collection is scheduled for early fall to ensure representative material for the next pilot [3]

Project Overview - WA1 Resources Ltd owns 100% of the Luni niobium project, discovered in late 2022, with first ferroniobium sample produced in 2024 and an Indicated MRE reported mid-2025[6] - The company has A$73 million in cash to advance key project workstreams[6] - The project is advancing with mine design informed by the Indicated MRE, ongoing process testwork, environmental studies, and local engagement[62, 63] Resource Estimate - The Luni niobium deposit contains a total MRE of 220 Mt at 1.0% Nb2O5[18] - Within the total MRE, there is a substantial Indicated MRE of 73 Mt at 1.38% Nb2O5[18] - A high-grade subset within the Indicated MRE is 31 Mt at 2.31% Nb2O5, part of a total subset of 53 Mt at 2.2% Nb2O5[18] - 46% of the niobium contained within the Luni MRE is classified as Indicated[18, 66] Corporate Information - WA1 Resources Ltd's share price was A$16.40 as of August 4, 2025[11] - The company has 68.4 million shares on issue, resulting in a market capitalization of A$1,121 million[11] - The enterprise value of the company is A$1,048 million[11] Niobium Market - Global ferroniobium production is approximately 115ktpa with a price of approximately US$30,000/t[40] - Niobium oxide production is approximately 18ktpa with a price of approximately US$52,000/t of Nb2O5[51] - Ferroniobium is an alloy typically containing ~65% Nb and is primarily used in high-strength low-alloy steels[40]