Star Metro - NiobiumX Mining Reports Results of Ground Radiometric Survey at Shipshaw, Maps Two Distinct Radiometric Signatures Across the Core Claims, and Moves to a High-Resolution Airborne Survey of the Full 2,686-Hectare Package

"Our ground survey found two different radiometric signatures across nine claims, under cover, with no outcrop to look at," said Kirby Renton, President and Chief Executive Officer. "Niobec, the only producing niobium mine in North America, was first identified from the air by a radiometric survey in 1967, and Canada, which produces all of its niobium there, supplies roughly three in ten of America's ferroniobium and niobium metal imports. Our next step is to fly all 48 claims, not nine."

The geology and mineralization of the neighbouring Niobec mine are not necessarily indicative of mineralization at Shipshaw. The radiometric results are preliminary in nature and do not, on their own, establish the presence of niobium mineralization on the Property. The Shipshaw Property has no current mineral resource or mineral reserve estimate.

The survey was carried out from May 5 to 8, 2026 with a hand-held RS-230 scintillometer by Magnor Exploration and BB Consulting on the Company's behalf. Radiometric methods measure the natural gamma radiation of near-surface rock and soil, which comes mainly from potassium, uranium and thorium, and are a recognized reconnaissance tool in the Saint-Honoré district.

Key Highlights

1. Survey Completed: A ground radiometric survey was completed in May 2026 over the nine core claims of the Property (approximately 514 hectares). ³

2. Two Radiometric Populations: The survey identified two radiometric populations across the surveyed ground, averaging approximately 60 to 80 and 100 to 120 counts per second, which the report's author interprets as reflecting two different underlying lithologies. Clusters of low-amplitude readings were flagged as zones of interest for follow-up. ³

3. Why Radiometrics in This District: Carbonatite and alkaline systems are commonly enriched in thorium and potassium, and the neighbouring Niobec deposit was first identified in 1967 by an airborne radiometric survey during uranium exploration. The 2026 ground survey recorded total radiation counts; the planned airborne spectrometer survey is designed to separate thorium, potassium and uranium across all 48 claims. ^{1, 3, 5, 6}

4. Under Cover, Which Is Why We Fly It: No outcrop was found during the survey: the core claims sit under overburden, which limits what any ground crew can see. Airborne magnetics sees through that cover, which is why the next step is a high-resolution airborne magnetic and radiometric (mag-spec) survey of the full land package. ³

Historical Context

Historical drilling by a previous operator in 2010 and 2011 intersected the carbonatite complex in all holes on the Property, consistent with the Saint-Honoré carbonatite setting. ^{2, 4}

Next Step: High-Resolution Airborne Geophysics

With the ground radiometric survey complete, the Company's next step is a high-resolution airborne magnetic and radiometric survey designed to cover the full 48-claim, 2,686-hectare package and to define and rank drill targets. The Company intends to announce the program details when finalized.

Project Summary

NiobiumX holds ground beside the only producing niobium mine in North America: the Shipshaw Property, 48 claims and approximately 2,686 hectares in the Saint-Honoré carbonatite district of Quebec, whose nearest claim boundary lies approximately two kilometres from the Niobec mine. The Shipshaw carbonatite is one of five carbonatite intrusions in the Waswanipi-Saguenay zone selected for characterization by Géologie Québec in metallogenic bulletin BM 2024-02, and the Property covers a low magnetic anomaly - the geophysical signature these systems share - defined by a heliborne magnetic survey flown in 2010. Historical drilling by a previous operator intersected carbonatite in every hole.² The Company is advancing the Property through a staged, data-driven program of high-resolution geophysical surveying and machine-learning target generation, designed to define and rank drill targets across the full land package.Proximity to Niobec is not necessarily indicative of mineralization on the Shipshaw Property, and the Shipshaw Property has no current mineral resource or mineral reserve estimate.¹

About Niobium

Niobium has established and emerging applications in defense and AI. It is one of the critical minerals behind America's weapons and the next generation of AI computing, used in the jet engines, rocket motors and missiles of the US military and in the superconducting circuits being developed to cut AI's power and heat. The US mines none of it: according to the US Geological Survey, significant US niobium mine production has not been reported since 1959, and the country relies on imports for all of it.

About NiobiumX Mining Inc.

NiobiumX Mining Inc. (CSE:NIOX)(OTCQB:NIOXF)(FRA:O7D0) is a critical minerals exploration company focused on niobium that holds ground beside the only producing niobium mine in North America, advancing the Shipshaw Property, a package of 48 mineral claims totalling approximately 2,686 hectares in the Saguenay region of Quebec, situated within the Saguenay Graben of the Grenville Geological Province and characterized by a swarm of carbonatite and lamprophyre dykes. The Shipshaw carbonatite is one of five carbonatite intrusions in the Waswanipi-Saguenay zone selected for characterization by Géologie Québec in metallogenic bulletin BM 2024-02.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Babak V. Azar, P.Geo., géo (OGQ #10876), an independent consultant and a Qualified Person as defined by National Instrument 43-101.

For Further Information

Kirby Renton, President, Chief Executive Officer and Director

Telephone: (604) 689-2646 | Email: [email protected] | Website: niobiumx.com

More information: niobiumx.com/property

On behalf of the Board of Directors, Kirby Renton, President and Chief Executive Officer, NiobiumX Mining Inc.

Forward-Looking Information

Except for statements of historic fact this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "next step" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking information in this news release includes, without limitation, statements regarding the Company's exploration plans and programs, including its staged, data-driven program for the Shipshaw Property; the Company's planned high-resolution airborne magnetic and radiometric (mag-spec) survey, including its intended coverage of all 48 claims and the full 2,686-hectare package, its design and its ability to separate thorium, potassium and uranium signatures and to see through overburden; the design, scheduling, acquisition, processing and interpretation of geophysical surveys; the interpretation of the 2026 ground radiometric survey results, including that the two radiometric populations reflect different underlying lithologies, and planned follow-up of zones of interest; the ability of geophysical surveys, integrated data and machine-learning methods to define or rank drill targets; the Company's intention to announce airborne survey program details when finalized; the interpretation and prospectivity of the Shipshaw Property for niobium and rare earth elements; the maintenance and registration of mineral title; and the Company's business plans generally. Forward-looking information is based on assumptions management considers reasonable as of the date hereof, including that the Company will be able to obtain financing on acceptable terms and in a timely manner to fund the planned airborne survey and subsequent exploration; that qualified geophysical contractors, aircraft, survey equipment and personnel will be available on acceptable terms and timelines; that weather, ground and flight conditions will permit the airborne survey to be completed as planned; that any required permits, approvals and access will be obtained in a timely manner; that the Company will maintain its mineral claims in good standing; that the airborne survey will generate data of sufficient quality and resolution to separate thorium, potassium and uranium signatures, image the geology beneath overburden and support the definition and ranking of drill targets; that the interpretation of the 2026 ground radiometric survey results by the report's author is reasonable; that the Company's integrated data and machine-learning methods will perform as expected; that the Company's exploration strategy will not materially change; that there will be no material adverse change in commodity prices, demand for niobium or government critical minerals policy; and that general economic, market and business conditions will remain stable, and is subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including that the planned airborne survey may be delayed, modified or not completed as planned; that ground or airborne radiometric results and interpretations may not be confirmed, may not reflect underlying lithology and may not be indicative of mineralization; that geophysical or model-derived anomalies may not reflect mineralization; that interpreted targets may not be confirmed by drilling; that the Company's exploration strategy may change; that no mineral resource estimate exists for the Property and none may ever be established; that historical results may not be verified or replicated; that the Company may be unable to obtain financing, permits or title on acceptable terms; and changes in commodity prices, demand and critical minerals policy. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking information except as required by law. Additional information on risks is available in the Company's filings at www.sedarplus.ca.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Notes and References

1. Readers are cautioned that the geology and mineralization of neighbouring properties, including the Niobec mine, are not necessarily indicative of the geology or mineralization of the Property. The Company has no interest in the Niobec mine; information about it is taken from public disclosure by its owners and has not been verified by the Company's Qualified Person.
2. The drilling information referred to is historical. It was obtained by a previous operator, DIOS Exploration Inc., in 2010 and 2011, is documented in Government of Quebec assessment reports, and has not been verified by the Company's Qualified Person. It should not be relied upon and is not necessarily indicative of mineralization on the Property. No mineral resource or mineral reserve has been estimated on the Property.
3. Brassard, B., 2026 - Ground-Based Radiometric Survey Report on the Shipshaw Property, Saguenay Region, Québec (Magnor Exploration and BB Consulting), effective date 20 May 2026.
4. Desbiens, S., 2010 (GM 65544); Block, M., et al., 2011 (GM 66096) - Government of Quebec assessment reports documenting the 2010-2011 drilling.
5. Géologie Québec (Ministère des Ressources naturelles et des Forêts), 2024 - Metallogenic bulletin BM 2024-02, Waswanipi-Saguenay carbonatite corridor.
6. Vallières, D., et al., 2013 - NI 43-101 Technical Report, Update on Niobec Expansion, December 10, 2013, prepared for IAMGOLD Corporation and Niobec Inc. Filed on SEDAR.

SOURCE: NiobiumX Mining Inc.

View the original press release on ACCESS Newswire

Y.Walker--SMC