Montreal, Quebec – TheNewswire - August 27, 2024 – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC: NIOCF) (“Nio” or the “Company”), a critical and strategic metals mining exploration company, is pleased to announce that has entered into arm’s length consulting agreements (the “Agreements”), with two consultants to provide strategic guidance (the "Services") for its Niobium property in Oka.

As of this date, Services totaling $ 30,000 have been received under the Agreements from each consultant and those fees are being satisfied through the issuance of five hundred seventy-one thousands and four-hundred and twenty-eight  (571,428) common shares each at a deemed price of $0.0525 per common share for a total of one million one-hundred-forty-two thousands  and eight-hundred-fifty-seven (1,142,857) shares.

In respect of the Common Shares issued pursuant to these Agreements, the Company issues such number of Common Shares as is equal to the quotient obtained by dividing the applicable amount due by the Discounted Market Price as defined in the policies of the TSX Venture Exchange (the “TSXV”) of the Common Shares.

All securities issued pursuant to the Agreements will be subject to a hold period of four months plus one day from the date of issuance thereof in accordance with applicable TSXV polices and Canadian securities laws. The Shares for Debt arrangement received conditional acceptance from the TSXV.

“I am excited about the participation of these two consultants. We enthusiastically engaged them for this communication phase.  Their expertise and experience will help proper positioning with local stakeholders. These Agreements confirm also the Company’s intention to assess its strategic options regarding the Niobium property and to source strategic metals essential to advancing modern life, medical instruments and national security in beneficially environmental, social and ethical manner,” said Nio President and CEO Hubert Marleau. “Our intention is to engage with the local community, including the Mohawks, in order to develop the mining project under a much safer green mining operation,” added Hubert Marleau.

As part of the Agreements, the Board of Directors has authorized and approved the grant of one million (1,000,000) stock options (the “Stock Options”) under its stock option plan to each of these consultants. The Stock Options are subject to vesting provisions in accordance with the stock option plan and are exercisable on or before August 22, 2029 at the strike price of $0.09 per share.

FAFNIR transaction near Mont-Laurier

The Company has determined its summer explorations program in order to properly assess presence of critical metals onto the recently purchased Fafnir Project in Quebec (the “Fafnir Project”). The Fafnir Project covers approximately 4,956 hectares (50 square kilometers) located approximately 60 km north west of Mont Laurier, and 165 km north of Gatineau and is home to some large high-grade niobium and Uranium deposits and discoveries. There is excellent access to all parts of the property that are held strategically throughout the region. The number of claims was reduced from 90 claims as originally announced in the Press release dated June 10, 204 to 85 following the non-acceptance of 5 claims from the Ministère des Ressources naturelles et des Forêts. The Company remains in discussions regarding these 5 claims.

Further to the press releases dated May 1, 2024 and June 10, 2024, the Company would like to express that 3,998,633 common shares were issued to satisfy the $325,000 obligation instead of  3,988,633 common shares. The Company also committed to invest two-hundred thousand dollars ($200,000) into an exploration work program over two (2) years as part of the share purchase agreement. Nio already started its work program on the Fafnir Project and will provide additional updates in the coming weeks.

“The niobium potential in the global economy is tremendous following increasing demand for niobium-based products for electric vehicles, infrastructure and our renewed strategy to enter the critical metals ecosystem,” said Nio President and CEO Hubert Marleau.

Option Grant

In addition to the two grants already discussed above, the Board of Directors has granted 200,000 stock options in accordance with its stock option plan to its geological consultant. Options are exercisable at CA$0.15 for a period of five years. The exercise price was fixed above the minimum allowable price by the TSXV policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSXV policies and the applicable securities laws.

Qualified Person

Pierre-Jean Lafleur, Eng., and geological consultant, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release.

About Nio Strategic Metals

Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium properties located in Oka and near Mont-Laurier, and Québec and other exploration property in the Province of Québec.

For more information on the Company, please refer to the Company’s public documents available on SEDAR (www.sedarplus.ca) or on the Company’s website (https://niostratmet.com/) or contact:

Hubert Marleau

Chairman, President and Chief Executive Officer

nio.investorinformation@gmail.com

514-560-7623

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

 

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Strategic Metals’ annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.