CENTENNIAL, Colo., September 6, 2022 — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX: NB; OTCQX: NIOBF) is pleased to announce that it has filed with the U.S. Securities and Exchange Commission (“SEC”) a Technical Report Summary (“TRS”) based on the Company’s 2022 Feasibility Study for the Elk Creek Critical Minerals Project. The TRS was filed with the SEC to comply with Item 601(b)(96) and subpart 1300 of Regulation S-K promulgated by the SEC (“S-K 1300”), which regulates disclosure of Mineral Resources and Mineral Reserves. A companion Technical Report for Canadian purposes, pursuant to National Instrument 43-101 (“NI 43-101”), was filed by NioCorp on SEDAR on June 28, 2022.

The technical data and economic conclusions of these reports are substantively identical, with minor differences between the reports resulting only from the respective disclosure requirements of S-K 1300 and NI 43-101.

The TRS was filed with the SEC as an exhibit to the Company’s Annual Report on Form 10-K for the year ended June 30, 2022.

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For More Information:

Contact Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., 720-639-4650, [email protected]

Source: NioCorp Developments Ltd.

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About NioCorp

NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium.  The Company also is evaluating the potential to produce several rare earths from the Project.  Niobium is used to produce specialty alloys 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 specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants.  Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron (“NdFeB”) magnets, which are used across a wide variety of defense and civilian applications.