NEWS RELEASE                                                                                                              February 13, 2015

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia –February 13, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX-V: NB, OTCQX: NIOBF, FSE: BR3) is pleased to announce that the Company and Mackie Research Capital Corporation have agreed to increase the previously-announced bought deal private placement (the “Offering”) of 1,334,000 special warrants (the “Special Warrants“) by 1,200,000 Special Warrants, to now offer a total of 2,534,000 Special Warrants for gross proceeds of $1,900,500. The Offering was initially announced February 11, 2015; all other terms of the Offering remain unchanged. The net proceeds from the Offering will be used by the Company for continued development of NioCorp’s Elk Creek niobium project, including, but not limited to, metallurgical studies including plant work and detailed engineering, and to satisfy the main condition precedent of the Toronto Stock Exchange (“TSX“) to allow NioCorp’s listing on the TSX.

The Offering is subject to the acceptance of the TSX Venture Exchange and the TSX.

These securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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 is announcing an NI4-101 compliant resource with an effective date of February 6, 2015 reporting an Indicated Resource of 81.2 million tonnes grading 0.71% Nb2O5, containing 578.2 million kilograms of Nb2O5 and an Inferred Resource of 99.8 million tonnes grading 0.56% Nb2O5, containing 557.5 million kilograms 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.