Mr. Mark Wolma reports

NIOCORP AND IBC ADVANCED ALLOYS SUCCESSFULLY CAST ALUMINUM-SCANDIUM ALLOY FOR POTENTIAL EXPANSION INTO AL-SC ALLOY PARTS

NioCorp Developments Ltd. and IBC Advanced Alloys Corp. have successfully produced a 0.2 per cent aluminum-scandium (Al-Sc) alloy at IBC's integrated foundry in Franklin, Inc. IBC's Al-Sc alloy was confirmed by an independent testing lab to have met the target purity level and other specifications.

The successful Al-Sc alloy casting marks a key step toward advancing potential downstream alloy manufacturing and custom-part readiness by both companies. By demonstrating this capability, NioCorp and IBC continue to build the foundation for future scandium-based applications across the aerospace, automotive, electronics and defence sectors.

IBC has decades of experience in producing custom components and parts, comprising a wide array of alloys as both castings and forgings for defence and commercial markets.

"Successfully casting this aluminum-scandium alloy demonstrates real progress in our effort to bring scandium into practical, high-value applications," said Mark A. Smith, chairman and chief executive officer of NioCorp. "Through our existing joint development effort with IBC, we have validated the ability to produce a highly strategic alloy that can be cast, forged or extruded into functional parts, supporting our broader objective to develop a reliable and domestic scandium supply chain for defence and commercial markets."

"This aluminum-scandium alloy can also be provided to the market for additive manufacturing of aluminum-scandium parts using U.S. and/or North American alloy," Mr. Smith added.

"Casting a 0.2 per cent aluminum-scandium alloy is an important step in advancing our joint development program with NioCorp," said Mark Wolma, IBC Advanced Alloys president. "The results from our Franklin foundry confirm we can produce a consistent alloy suitable for further processing into custom components. This capability opens the door to new commercial applications for scandium-containing materials."

Global use of scandium remains limited by a lack of reliable supply. Most global supply comes from China, but exports of scandium from China are now severely restricted with regard to potential dual use applications requiring scandium. Worldwide consumption of scandium oxide is estimated at 30 to 40 tonnes per year, with most material recovered as a byproduct of other mining or processing operations. There is currently no commercial-scale scandium production in the United States. This scarcity has prevented broader adoption of scandium in high performance aluminum alloys and other advanced materials despite growing interest from aerospace, automotive and defence sectors seeking lighter, stronger and more efficient components.

Subject to the successful completion of project financing, NioCorp plans to produce approximately 100 tonnes per year of scandium oxide at its Elk Creek critical minerals project in southeastern Nebraska, alongside niobium and titanium products. In addition to niobium, scandium and titanium products, the company is also evaluating the potential to produce several rare earths from the Elk Creek project, upon which the U.S. is completely or largely reliant on foreign producers.

Qualified person

Ken Shasteen, BS in materials science and engineering, vice-president of foundry operations, and senior metallurgist of IBC, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information of NioCorp contained in this news release.

About NioCorp Developments Ltd.

NioCorp is developing a critical minerals project in southeastern Nebraska, which is expected to produce niobium, scandium and titanium. The company also is evaluating the potential to produce several rare earths from the Elk Creek project. Niobium is used to produce specialty alloys, as well as high-strength, low-alloy 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, is a key component of pigments used in paper, paint and plastics, and is also used for aerospace applications, armour and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium and dysprosium, are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

About IBC Advanced Alloys Corp.

IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defence, aerospace, automotive, telecommunications, precision anufacturing, and others. At its vertically integrated production facility in Franklin, Ind., IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper and aluminum bronze. The company's common shares are traded on the TSX Venture Exchange under the symbol IB and the OTCQB under the symbol IAALF.

We seek Safe Harbor.