NEWSROOM

CENTENNIAL, Colo. (June 3, 2020) – NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX: NB; OTCQX: NIOBF) is pleased to announce that a final Construction Air Permit has been issued by the State of Nebraska for the Elk Creek Superalloy Materials Project (the “Project”).

The Construction Air Permit, in conjunction with the Special Use Permit issued in December 2019 by Johnson County, Nebraska, means that NioCorp is now positioned to launch construction activities at the Project site as soon as possible after Project financing is obtained.

“This was a very rigorous process and these types of permits are quite complex,” said Scott Honan, Vice President of Business Development for NioCorp and President of Elk Creek Resources Corp., NioCorp’s operating subsidiary. “The permit process requires assessing the potential emissions from each point in the mining and production process, and then designing systems to capture and control those emissions.  The degree of emissions control is very high … typically, 99% of emissions must be captured by control devices.  I am very proud of how our team at NioCorp designed this facility in a manner that seeks to limit air emissions and mitigate environmental impacts.”

“We want to thank Jim Macy and the staff of the Nebraska Department of Environment and Energy for the thoroughness of their review and the professionalism with which they approach these processes,” Mr. Honan added. “I also want to thank Olsson, our Nebraska-based consulting firm, which helped us to assemble the permit application and shepherd it through the process.”

Mark Smith, CEO and Executive Chairman of NioCorp, said: “This is a huge milestone for the company and another major de-risking of the Elk Creek Project.  Both the State of Nebraska and NioCorp take air quality, and environmental performance of this Project, very seriously. Our overall commitment to environmental performance is a foundational value for our Company.”

“I also want to thank the State of Nebraska and the officials involved in this process for their professionalism and diligence,” Mr. Smith added.  “It is impressive that the State of Nebraska completed this effort while also battling the COVID-19 pandemic.  That shows tremendous leadership by Jim Macy at NDEE and by the Governor Ricketts’ Administration, and it underscores the fact that Nebraska is willing to go the extra mile to encourage job-creating investment in the state during this challenging time while continuing to preserve and enforce environmental values.”

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@NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek #airpermit

For More Information

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.  Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance.  Scandium also is a critical component of advanced solid oxide fuel cells.  Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this document may constitute forward-looking statements, including statements regarding expectations that construction of the Project will launch as soon as possible after Project financing is obtained and the Company’s ability to secure project financing.  Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include risks related to the Company’s ability to operate as a going concern; risks related to the Company’s requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company’s filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.