NioCorp’s Elk Creek Critical Minerals Project Earns a Place in the National Spotlight at a U.S. Senate Hearing
CENTENNIAL, Colo. (July 19, 2018) – A U.S. Senate Committee chose to highlight NioCorp Developments Ltd.’s (“NioCorp” or the "Company”) (TSX: NB, OTCQX: NIOBF, FSE: BR3) Elk Creek Critical Minerals Project (the “Project”) because of the uniqueness of the critical minerals it plans to make and because of the Project’s success in reducing its expected environmental impacts.
NioCorp testified this week in Washington, D.C. at a hearing of the U.S. Senate Energy and Natural Resources Committee led by U.S. Senator Lisa Murkowski (R-AK), Committee Chair. The hearing examined the topic of “critical minerals” and opportunities to strengthen U.S. mineral security.
“We are very gratified that the Energy and Natural Resources Committee chose to highlight the Elk Creek, Nebraska Critical Minerals Project,” Mr. Smith said. “The Committee had hundreds of options from which to choose in terms of which companies and projects to highlight at a hearing like this. I believe they chose NioCorp and the Elk Creek Project because of the many highly unique aspects of this project, including the multiple critical minerals we will produce, the fact that we will produce only critical minerals, and because of the many environmental advances the Project has been able to achieve.”
“Everyone who cares about adequate access to critical minerals should be thankful for the years of work that has been done by the Energy and Natural Resources Committee, and Chairman Lisa Murkowski and Ranking Member Maria Cantwell in particular,” said Mr. Smith. “Senator Murkowski’s and Senator Cantwell’s leadership in this area is one reason why I believe America is on track to increase domestic production of the critical minerals we need, and in a manner that respects core environmental values.”
“I also want to thank Nebraska Governor Pete Ricketts, members of the Nebraska legislature, county and municipal officials from across southeast Nebraska, and the members of the Nebraska Congressional delegation – Senators Deb Fischer and Ben Sasse, and Congressmen Jeff Fortenberry, Don Bacon, and Adrian Smith – for their ongoing support of this Project,” Mr. Smith added. “The Elk Creek Project enjoys very strong local support in Nebraska, which is both gratifying and is crucial to bringing this Project online.”
The Company’s written testimony can be downloaded here: https://www.energy.senate.gov/public/index.cfm/files/serve?File_id=D288D38C-5223-4BAC-9626-E4A9C4CFF982 A video relay of NioCorp’s testimony can be seen starting at timestamp 41:05 here: https://www.energy.senate.gov/public/index.cfm/hearings-and-business-meetings?ID=2D5F4BAB-365C-4D91-88C9-2426057E869B
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Source: NioCorp Developments Ltd.
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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
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document. Certain statements contained in this document may constitute forward-looking statements, including but not limited to the final results of detailed engineering work being conducted on the Project, the success of ground freezing techniques that may be used in the Elk Creek Project including time savings, minimizing water inflows and safety improvements, the amount of bedrock water encountered during mining operations, the need for a waterline to the Missouri River, the shortening of the timeframe to bring Niobium, Scandium and Titanium to market and the time required to bring the mine into commercial operation, potential future production at the Elk Creek Project, anticipated products to be produced at the Elk Creek Project, the future critical and strategic nature of niobium and scandium, and the expected closing of the Lind financing. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. 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 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.