Vancouver, British Columbia – January 19, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) [TSX-V: NB; OTCQX: NIOBF; and FSE: BR3] is pleased to announce final assay results from its Phase III drilling program and advancement operations in Elk Creek, Nebraska.
The final analytical results have been received from drillholes NEC14-020, NEC14-021, NEC14-022 and NEC14-023. All four of these drillholes were drilled through the resource, along southwest to northeast trending section lines. These results continue to support niobium mineralization in the area of the defined resource and its continuation at depth. The receipt of these results mark the completion of NioCorp’s 2014 three Phase drilling program.
The final analytical highlights for NEC14-020 through NEC14-023 appear below: (Please note that due to the angle of the drilling and other factors, these results do not represent the true thickness of the Niobium resource.)
NEC14-020 Final Assay Results
351 m (237 – 588 m) at 0.71 % Nb2O5
• 42 m (285- 327 m) at 1.41 % Nb2O5
– 8 m (295 – 303 m) at 2.10 % Nb2O5
• 20 m (377 – 397 m) at 1.01 % Nb2O5
• 26 m (419 – 445 m) at 0.87 % Nb2O5
• 13 m (507 – 520 m) at 0.92 % Nb2O5
• 17 m (570 – 587 m) at 1.08 % Nb2O5
NEC14-021 Final Assay Results
304 (446 -750 m) at 0.98 % Nb2O5
• 15 m (446 – 461 m) at 1.08 % Nb2O5
• 86 m (510 – 596 m) at 1.11 % Nb2O5
• 88 m (654 – 742 m) at 1.28 % Nb2O5
– 4 m (660 – 664 m) at 3.41 % Nb2O5
NEC14-022 Final Assay Results
322 m (437 – 759 m) at 0.60
• 56 m (438 – 494 m) at 0.81 % Nb2O5
• 22 m (467 – 489 m) at 1.23 % Nb2O5
• 29 m (527 – 556 m) at 1.17 % Nb2O5
• 10 m (686 – 696 m) at 1.15 % Nb2O5
25 m (808 – 833 m) at 0.45 % Nb2O5
17 m (865 – 882 m) at 0.45 % Nb2O5
NEC14-023 Final Assay Results
9 m (304 – 313 m) at 0.46
135 m (333 – 468 m) at 0.70
• 7 (333 – 340 m) at 1.29 % Nb2O5
• 4 m (348 – 352 m) at 1.30 % Nb2O5
• 51 m (366 – 417 m) at 1.04 % Nb2O5
– 16 m (381 – 397 m) at 1.33 % Nb2O5
24 m (527 – 550 m) at 0.39 % Nb2O5
18 m (568 – 586 m) at 0.86 % Nb2O5
0.37 m (614.72 – 615.09 m at End of Hole) at 1.57% Nb2O5
Core samples from drillholes NEC14-020, NEC14-021, NEC14-022 and NEC14-023 were systematically collected from the approximate upper contact of the carbonatite resource to the end of the drillhole. All samples were collected from HQ diameter core and shipped for analysis at Actlabs in Ancaster, Ontario. Approximately 25% of the submitted core samples consist of quality control and quality assurance samples.
“The final Phase III drilling results continue to be extremely encouraging and supportive of our project,” said Mark Smith, CEO of NioCorp, “I could not be more pleased with the overall high-grade assay results that have been delivered from all aspects of our drilling done in 2014.”
“We have accomplished a tremendous amount of work in this past year, and I would strongly encourage people to visit our website to see a review of all this work in our 2014 Shareholder Update. I would also encourage everyone to sign up on our website to receive updates as we continue to develop this world-class asset,” continued Smith.
Qualified Persons:
Brad Ulry, B.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, is responsible for the Elk Creek drilling operations and has read and approved the technical information contained in this news release.
About the Company: NioCorp is developing the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has filed an NI43-101 compliant resource report, available on SEDAR, reporting an Indicated resource of 28.2 Million Tonnes grading 0.63% Nb2O5, containing 177 Million Kg’s of Nb2O5, and an Inferred resource of 132.8 Million Tonnes grading 0.55% Nb2O5, containing 733.7 Million Kg’s of Nb2O5, (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.
For further information, contact the Company at (604) 568-7365 or at www.NioCorp.com
ON BEHALF OF THE BOARD
“Peter Dickie”
Director, President and Corporate Secretary
Neither 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 release.