Vancouver, British Columbia – August 11, 2014 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX-V: NB, OTCQX: NIOBF, FSE: BR3) is pleased to announce receipt of the following assays from the ongoing drilling and development operations at Elk Creek, Nebraska.

Drillholes NEC14-006, NEC14-007 and NEC14-008, were drilled along a North-East to South-West section line that was designed to drill across the previously defined Niobium Resource. These holes were drilled at approximately 50 m (165 ft.) intervals along the drill section line. Drillholes NEC14-009 and NEC14-010 were recently completed along a parallel section line to the east of the first three holes. Together, these five holes make up Phase I of NioCorp’s 2014 drilling program. Phase II drilling at the project has commenced, which will consists of an additional 6 holes.

The collected core samples have been systematically processed and shipped for analytical and physical rock property test work to support NioCorp’s corporate objectives for the project. Assay results have now been received and reviewed for the final 120 m of NEC14-008 (total depth drilled and sampled 886 m), along with the top 402 meters of NEC14-009

Analytical highlights for NEC14-008 and NEC14-009 appear below. Note that due to the angle of the drilling and other factors, these do not represent the true thickness of the Niobium Resource:

• NEC14-008 – newly received results (with previously released results from August 5, 2014 noted immediately below)
  • 448 m interval between 438 – 886 m at 0.69 % Nb2O5
  • 32 m (466 – 498 m) at 1.09 % Nb2O5
    • 5 m (493 – 498 m) at 1.68 % Nb2O5
• 9 m (553 – 563 m) at 1.00 % Nb2O5
• 13 m (610 – 623 m) at 1.02 % Nb2O5
• 12 m (760 – 772 m) at 2.12 % Nb2O5
  • 3 m (768-771 m) at 3.23% Nb2O5
• 16 m (772 – 788 m) at 1.01 % Nb2O5
• 10 m (835 – 845 m) at 1.15 % Nb2O5
• NEC14-008 – previously released results – (see news release dated August 5, 2014)
  • 326 m interval between 438 – 765 m (open) at 0.67 % Nb2O5
    • 32 m (466 – 498 m) at 1.09 % Nb2O5
      • 5 m (493 – 498 m) at 1.68 % Nb2O5
  • 9 m (553 – 563 m) at 1.00 % Nb2O5
  • 13 m (610 – 623 m) at 1.02 % Nb2O5
  • 25 m (740 – 765 m) at 0.85 % Nb2O5
  • NEC14-009 – newly received results for the first 402 m
    • • 29 m (218 – 247 m) at 0.76 % Nb2O5
        • 7 m (240 – 247 m) at 1.76 % Nb2O5
  • 11 m (271 – 282 m) at 1.06 % Nb2O5
  • 11 m (302 – 313 m) at 1.01 % Nb2O5
  • 31 m (370 – 402 m) at 0.65 % Nb2O5

Note that drillhole NEC14-009 was drilled to a final depth of 897.03 meters, and analytical results for the balance of this hole are pending.

“Our drilling program at Elk Creek continues to deliver impressive Niobium assays” said Mark Smith, CEO of Niocorp. “The third drill rig that has been added to the program has accelerated the overall drilling schedule, and I look forward to seeing the balance of the Phase I analytical results in the near future”.

Quality Control: Sampling for NEC14-008 was continuously collected from the base of the limestone-carbonatite contact to the end of the drillhole (230 m to 772.67 m). A total of 830 samples from drill hole NEC14-008 were delivered to Activation Laboratories Ltd. (ActLabs), Ancaster, Ontario. Of the 830 samples submitted, 673 samples are core sections while the remainder are control samples. The Carbonatite continued at depth and remains open in that direction. HQ diameter core was sawn into half-core samples, and control samples were inserted into each batch.

Sampling for NEC14-009 was continuously collected from the base of the limestone-carbonatite contact to the end of the drillhole (209 m to 897.03 m). A total of 843 samples from drill hole NEC14-009 were delivered to Activation Laboratories Ltd. (ActLabs), Ancaster, Ontario. Of the 843samples submitted, 686samples are core sections while the remainder are control samples. The Carbonatite continued at depth and remains open in that direction. HQ diameter core was sawn into half-core samples, and control samples were inserted into each batch.

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 are 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 published an NI 43-101 resource of 19.3 Million tonnes grading 0.67% Indicated, containing over 129,182 tonnes of Nb₂O₅, and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes of Nb₂O₅). 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”                                                             

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.