Mr. Mark Smith reports

NIOCORP DEVELOPMENTS LTD. WINS CONDITIONAL TSX APPROVAL OF LIND PARTNERS' INVESTMENT AND CONFIRMS RECEIPT OF US$3 MILLION IN FIRST TRANCHE FUNDING

Niocorp Developments Ltd. has received conditional approval from the Toronto Stock Exchange of a definitive convertible security financing agreement with an entity managed by the Lind Partners, a New York-based asset management firm. The company also confirmed today that it has received an initial $3.0-million (U.S.) in first tranche financing from Lind.

Under the agreement, Niocorp expects to receive a total of $4.5-million (U.S.) in first tranche financing from Lind. In addition to the $3.0-million (U.S.) already transferred, $1.5-million (U.S.) is expected to be released from escrow pending certain conditions required to be satisfied by Dec. 31, 2015. Lind can increase the financing under the convertible security by an additional $1.0-million (U.S.) during its two-year term. Further, provided certain conditions are met, the company will have the right to call an additional $1.0-million (U.S.) under the agreement.

The agreement also provides for the issuance of a second convertible security on mutual agreement of the company and Lind, in which Lind would finance up to another $6.0-million (U.S.), which can also be increased by $1.0-million (U.S.).

Mark A. Smith, Niocorp's executive chairman, stated: "We are very pleased to have received the TSX's conditional approval of this financing and with the support we have received from Lind, which has allowed this package to move rapidly to closing. With funds already starting to flow, we are able to reaccelerate our work toward completion of a feasibility study, and we look forward to continuing to advance our Elk Creek project as rapidly as possible."

Jeffrey L. Easton, founder and a managing director of the Lind Partners, stated: "The fact that we were able to complete this transaction, in the midst of the holiday season, is a testament to the excellent working relationship developing with the Niocorp management team. We are off to a great start in helping to move this project to reality, and we look forward to a long and prosperous relationship with the company and its owners."

We seek Safe Harbor.