NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – January 15, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) [TSX-V: NB; OTCQX: NIOBF; and FSE: BR3] is pleased to announce that it has filed and obtained a receipt (the “Receipt”) from the British Columbia Securities Commission for a Final Short Form Prospectus dated January 14, 2015.  The receipt also evidences that the Ontario Securities Commission has received the filing, as well as regulators in Alberta and New Brunswick under Multilateral Instrument 11-102 Passport System.

The prospectus qualifies the distribution of 19,245,813 units (the “Units”) of the Company issuable upon the deemed exercise of 19,245,813 previously issued special warrants (the “Special Warrants”).  Each Unit consists of one common share (each, a “Common Share”) and one common share purchase warrant (each a “Warrant”) of the Company.  Each Warrant entitles the holder to acquire one Common Share at a price of $0.65 each until November 10, 2016.

Pursuant to the terms of the Special Warrants, the Special Warrants will be deemed to be exercised on Monday, January 19, 2015.

About the Company:

NioCorp is developing the only primary niobium deposit known to be under development in the United States, and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska.  The Company has filed an updated 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

Cautionary Statements:

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.