Vancouver, British Columbia – December 31, 2014 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX-V: NB, OTCQX: NIOBF, FSE: BR3) has filed amended condensed consolidated interim financial statements and notes for the three months ended September 30, 2014 (the “Amended Interim Financials”) to reflect the correction of an error in the Company’s original condensed consolidated interim financials for the three months ended September 30, 2014 filed on SEDAR on November 26, 2014.

The financial statements as initially prepared have been amended to correct an error in the condensed consolidated interim statements of cash flows. Specifically the deferred exploration costs have been adjusted to reflect the actual cash expended and the resulting difference that affects the change in non-cash working capital items – accounts payable and accrued liabilities. There is no impact on the statement of financial position or the statement of comprehensive loss.  The effect of the error is more fully disclosed in Note 2 to the Amended Interim Financials.

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.