Vancouver, British Columbia – April 28, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB, OTCQX: NIOBF, FSE: BR3) is pleased to announce that it has now executed five year extensions to all of the land agreements covering 100% of the Indicated and Inferred resources at the Elk Creek Niobium Project (the “Project”).
In August of 2014, Company officials began working with local landowners in the vicinity of the Elk Creek Niobium Project to secure these agreements. The agreements are in the form of pre-paid options that allow NioCorp the exclusive right to conduct mineral exploration activities on the subject properties over a 5 year term. At any time during the 5 year term, the Company can exercise an option to purchase the mineral rights and in some cases the surface rights for a price determined in accordance with the terms of the agreement. All of the surface and mineral rights in the vicinity of the Project are owned by private entities, and none of the land is owned by federal or state governments.
“I am extremely pleased that we were able to reach these agreements in the Project area which secure our rights to the Elk Creek Resource while at the same time providing reasonable financial terms for the local landowners.” said Mark Smith, Executive Chairman of NioCorp. “We will continue to pursue additional land agreements with landowners in the area in order to support our planned operations.”
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 a resource estimate completed in accordance with NI43-101 reporting standards with an effective date of February 20, 2015 reporting an Indicated Resource of 80.5 million tonnes grading 0.71% Nb2O5, 2.68% TiO2 and 72 ppm Sc and an Inferred Resource of 99.6 million tonnes grading 0.56% Nb2O5, 2.31% TiO2 and 63 ppm Sc (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, which is a lighter, stronger steel used in automotive, structural and pipeline applications. The U.S. imports 100% of its niobium needs. Titanium in the form of an oxide is used extensively as a pigment in paints, plastics and papers. As a metal, titanium is used in aerospace applications, armor, chemical processing applications, marine hardware applications, medical implants, power generation and in sporting goods. Scandium is used in solid oxide fuel cells (SOFCs) and aluminum-scandium alloys, as well as in ceramics, electronics, lasers and lighting applications.
For further information, contact the Company at (604) 568-7365 or at www.NioCorp.com
ON BEHALF OF THE BOARD
“Peter Dickie”
Director, President
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 release.