# NioBay Announces a New Resource Estimate on Its Crevier Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a Original source: https://money.tmx.com/en/quote/NBY/news/7262677644680074/niobay-announces-a-new-resource-estimate-on-its-crevier-project Publisher: tmx Original announcement: 2026-02-25T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: NioBay Metals Inc. - Ticker: NBY - Exchange: TSX - Region: Québec - Primary commodity: Niobium - Secondary commodities: Tantalum - Document categories: Resource update - Extracted: 2026-09-12 15:09:12 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary NioBay Metals Inc. has announced a new 2026 Mineral Resource Estimate for its Crevier niobium and tantalum project in Québec. The update introduces Measured resources for the first time, totaling 16.26 Mt at 0.17% Nb₂O₅, and utilizes an optimized pit shell and updated production costs for a more robust economic model. Reasoning: The 2026 MRE introduces Measured resources for the first time at the Crevier project, significantly de-risking the resource through an optimized pit shell and updated economic modeling. - Positive factor: Category Upgrade - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed Facts used in scoring: 6 ## Classification and evidence **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The 2026 MRE converts 16.26 Mt into measured resources, which were not defined in the 2010 estimate. Evidence · text > convert 16,257,000 tons at 0,17 Nb₂O₅ and 201 ppm Ta₂O₅ into measured resources, whereas no measured resources had been defined in the previous estimate **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with NI 43-101 regulations. Evidence · text > The work was carried out and completed in accordance with NI 43-101 regulations **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Jean-Michel Dubé, P.Geo., is named as the Qualified Person for the resource estimation. Evidence · text > Estimate performed by Jean-Michel Dubé, P.Geo., M.Sc. \| P.Geo., M.Sc., Qualified Person **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The cut-off grade for the Mineral Resource reporting is explicitly stated as 0.1124% Nb2O5 equivalent. Evidence · text > COG is of 0.1124% Nb2O5 equivalent ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-0) Crevier Project · niobium Historical result Needs review: historical\_restatement #### Identity - Project: Crevier Project - Commodity: niobium - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:32bce1e42de09c77a645 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: measured - Tonnes: 16257000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: First time Measured resources have been defined for this project. - Positive factor: New Measured category Evidence · text > convert 16,257,000 tons at 0,17 Nb₂O₅ and 201 ppm Ta₂O₅ into measured resources, whereas no measured resources had been defined in the previous estimate #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-1) Crevier Project · tantalum Historical result Needs review: historical\_restatement #### Identity - Project: Crevier Project - Commodity: tantalum - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:32bce1e42de09c77a645 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: measured - Tonnes: 16257000 - Grade: 201 - Grade Unit: ppm - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: Secondary metal grade reported as part of the measured resource. Evidence · text > 16,257,000 tons at 0,17 Nb₂O₅ and 201 ppm Ta₂O₅ into measured resources #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-2) Crevier Project · niobium #### Identity - Project: Crevier Project - Commodity: niobium - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:8acce8846176f11cf140 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: indicated - Tonnes: 4476000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: Standard indicated resource component. Evidence · table > 0.17 Context: 4,476,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-3) Crevier Project · tantalum #### Identity - Project: Crevier Project - Commodity: tantalum - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:8acce8846176f11cf140 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: indicated - Tonnes: 4476000 - Grade: 208 - Grade Unit: ppm - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: Secondary metal grade reported as part of the indicated resource. Evidence · table > 208 Context: 4,476,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-4) Crevier Project · niobium #### Identity - Project: Crevier Project - Commodity: niobium - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:82df4198e1752a93d0b5 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: inferred - Tonnes: 12766000 - Grade: 0.12 - Grade Unit: % - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: Inferred resources represent lower geological confidence. - Negative factor: Inferred category Evidence · table > 0.12 Context: 12,766,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/niobay-announces-a-new-resource-estimate-on-its-crevier-project--ac8adf30-db4d-4fb4-9475-d2df378b707a#fact-resource-facts-5) Crevier Project · tantalum #### Identity - Project: Crevier Project - Commodity: tantalum - Region: canada\_qc - Reported Region: Québec - Ticker: NBY #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jean-Michel Dubé - Resource group id: resource:82df4198e1752a93d0b5 - Deposit or zone: Crevier Project - Mining method: open\_pit - Ownership percent: 72.5 % #### Resource Data - Category: inferred - Tonnes: 12766000 - Grade: 131 - Grade Unit: ppm - Cutoff Grade: 0.1124 - Cutoff Unit: % Nb2O5 equivalent #### Prior Estimate - Resource Date: 2026-02-23 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: Secondary metal grade reported as part of the inferred resource. - Negative factor: Inferred category Evidence · table > 131 Context: 12,766,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.