December 12, 2017 RPA T 55 University Ave. Suite 501 I Toronto, ON, Canada M5J 2H7 I + 1 (416) 947 0907 www.rpacan.com NIOBAY METALS INC. TECHNICAL REPORT ON THE JAMES BAY NIOBIUM PROJECT, COCHRANE DISTRICT, NORTHEASTERN ONTARIO, CANADA NI 43-101 Report Qualified Persons: Dorota El Rassi, P.Eng. Paul Chamois, M.Sc., P.Geo.