Niobay Metals Inc V.NBY

RE: News -- New Gold discoverie in Tanzania

[ATLEVAN]

MDN Northern Mining : New Gold Discovery at Mnezeki-Tanzania 10:17 EST Wednesday, December 13, 2006 MONTREAL, QUEBEC--(CCNMatthews - Dec. 13, 2006) - MDN NORTHERN MINING (MINIERES DU NORD) (TSX:MDN)is pleased to announce the final results from its 2006 drilling program, the purpose of which was to test several gold targets on its properties near the Tulawaka gold mine. We previously drilled 8,532 metres in 168 reverse circulation ("RC") holes between July and October, whose results were regularly reported. In November 2006, we drilled another 1,924 metres in 42 rotary air blast ("RAB") holes bringing the total for the 2006 drill program over 10,000 m. These new holes were drilled on the two adjacent licenses in the Mnezeki area jointly covering 109.8 km2, optioned from Tanzanian Royalty Exploration Corporation, about 20 km east of the Tulawaka gold mine. MDN Northern Mining is earning a 100% in this property and would pay a royalty to Tanzanian Royalty Corp. on any eventual gold production. While other targets only returned minor values, one of the targets, unknown until recently, returned 30.08g/t Au over 6m from 41 to 47 m downhole in NPRAB-02. The hole was testing a north-south trending shear zone interpreted from an induced polarization survey (IP) carried out earlier in 2006 and associated with a soil geochemical anomaly. The drilling program had to be stopped due to heavy rains. It will resume early in 2007 following a thorough reassessment of all existing data. Samples were analyzed by fire assay at the SGS laboratory in Tanzania, certified under international standards. A rigorous program of analytical grade verification implemented by MDN Northern Mining included 12% control samples. The drilling was carried out under the management of geologist Brian Lloyd, and supervised by geologist Dominique Fournier, Ph.D., who acted as a qualified person in accordance with NI 43-101. MDN NORTHERN MINING is a Montreal-based Canadian exploration company that holds a 30% interest in the Tulawaka gold mine (Tanzania), a majority interest in 25 adjacent mineral licenses in Tanzania, a majority interest in one license in Eritrea, and other gold and base metal exploration interests in Quebec, Canada. FOR FURTHER INFORMATION PLEASE CONTACT: MDN NORTHERN MINING Dominique Fournier, Ph.D. VP Exploration 514-866-6500 or MDN NORTHERN MINING Paul-A. Girard Executive Chairman 514-866-6500 [e-mail] www.xnord.com