diversified junior exploration company

March 2018

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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Introduction

▪ Niobay Metals Inc. is a mineral resource exploration company listed on the Toronto Venture Exchange (TSX-V)▪ Symbol: NBY.

▪ Market Capitalization of 14M$ w/ 46 M shares outstanding.

▪ NioBay CEO is a world expert in the niobium world.

▪ Company focus:▪ Prime Focus: Development of Green Critical Metals.

▪ Secondary Focus: Exploration assets in Base Metals & Gold.

▪ Recent Activities:▪ Acquisition of the James Bay Niobium Project in Ontario, Canada.

▪ Option La Peltrie Project (base metals & gold) from Midland Explorations.

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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

President & CEO

Alain Krushnisky, CAHighland Copper, Reunion Gold

CFO

Jean-Sébastien David, P.EngAriane Phosphate Inc, Osisko

Director

Raymond LegaultRetired Financial Advisor

Director

Jacques Bonneau, GeoEx Co-owner Niobec Mine

Director

STOCK INFORMATION ($CAD)

Symbol NBY

Exchange TSX-V

Market Cap $12 M

Shares Outstanding 45.7 M

52-week high $0.82

52-week low $0.11

Cash (March18, 2018) $3.3 M

Updated March 15th, 2018

LARGEST SHAREHOLDERS

Osisko Gold Royalties 20%

Toronto based High Net Worth 16%

Caisse de Dépôt & Placement Inc 6%

Management 6%

Niobium – Current Applications

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Niobium’s main application is to Strengthen high-strength-low-alloy steels by maintaining its other properties such as : Weldability, Flexibility, and Toughness.

MRI

http://www.cbmm.com.br/en/Pages/automotive-steels.aspx(1)

300g Nb decreases total vehicle mass by 200kg(1) Fuel Economy Emissions Gas/Oil transmission pipelines

TurbinesStructural Steel

High Strength Light weightSuperconductor

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 : 2019

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Toshiba 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

Niobium - Demand

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China will drive the demand.

0

20

40

60

80

100

120

140

0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000

g Fe

Nb

/ t

Stee

l

Crude Steel Output (Mt)

Crude Steel vs Niobium Intensity 2017

Source: Camet Metallurgy Inc

Note: Size is relative to Total consumption

China

Europe & CIS

South Korea

Americas

Japan

India

FeNb consumption increased +25%from 2016-2017

75%14%

11% Resources(M tonnes)

552 391 +800

Grade(%Nb2O5)

0.53 0.93 2.50

Recovery 64% 42% 61%

Location

M&A(USD million)

Sold 2015$500

Sold 2016$1,700

Sold 30% 2012

$3,900

Global Supply

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Only 3 producers sharing global demand for over 40 yearsOther countries rely 100% on imports

Niobium Market Distribution(2017)

1. Anglo American Fact Book 20152. December 2010 Reserves & Resources 2,400’ without backfill on block 5 – Reduction of 20M tons over the last 7 years

Project Location

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James Bay Lowlands, North Eastern Ontario, Canada

• 40 km South-East of the town of Moosonee• 110 km North-West of the Detour Gold mine

James Bay Niobium’s History

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▪ Discovered in 1966

▪ 85 holes - 14,000 meters of drilling at an average depth of 170 meters.

▪ Historical estimate of 56 t @ 0.52% Nb2O5.

▪ Open at depth.

▪ Major exploration work carried in 1968 & 1969

▪ Exploration shaft (~40m ) & a 76m cross-cut.

▪ 225t extracted for metallurgical testing (pilot plant).

▪ SGS Lakefield Research carried out pilot metallurgical tests

▪ Overall recovery of 78%, very low impurities, and high grade concentrate.

▪ Feasibility study completed by Bechtel Canada in 1969

▪ All historical technical documents & drill cores are available

▪ Capital required:

▪ Today’s value of historical works estimated at $25 M.

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.

Recents activities on JBN project

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▪ Relogging 12 drill holes from the historical surveys.

▪ Assaying over 700 samples from historical drill holes. Assays results are in-line with historical assays.

▪ Metallurgical testing of historical samples to validate historical met results. Initial tests show improved results with recoveries as high as 80%.

▪ Production of a Mineral Resource Estimate (NI 43-101) by Roscoe Postle Associates Inc.

▪ NioBay is continuing its efforts to engage with the leadership of the local first nation group. The local Chief does not support resource development projects, however many community members are forcing the leaders to discuss with NioBay.

▪ Next step: To begin a Preliminary Economic Assessment of the project. Seeking a strategic partner/investor to support the development of JBN.

Relogged & reassayed holes

Mineralized Zone View from NWW

12

27

5 m

Open at depth

Classification(cut-off 0.3%Nb2O5)

Tonnes (mt)Grade

(%Nb2O5)Contained

Nb2O5(Mkg)

Indicated 23.1 0.53 123

Inferred 23.0 0.51 118

Mineral Resource Estimate (43-101)

%Nb2O5

James Bay Niobium Benchmark

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James Bay Niobium Niobec Catalao Araxa

Owner

Location Ontario, Canada Quebec, Canada Brazil Brazil

Market Cap USD 9 M USD 500 M USD3

1,700 M USD2

14,000 M

Resource (M tonnes)

461

≈555

384

+800

Resource Grade(%Nb2O5)

0.52% 0.53% 0.93% 2.50%

Recovery 78% 64% 42% 61%Prod. Capacity(Nb) (tonnes)

~4,000 6,000 9,000 70,000

Opex(US$/kg Nb)

Expected = Niobec ≈22 ~ 20 ~10

Recoverable Unit

(Nb2O5 kg/tonne) 4.1 3.39 3.90 15

1. RPA 43-101 2017 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 – Reduction of 20M tons over the last 7 years

Source: Company reports

25 40 55 70 85

CBMM

Catalao

Niobec

James Bay Niobium

Recovery %