Mr. Jim Sims reports

NIOCORP FILES TECHNICAL REPORT SUMMARY OF ITS 2022 FEASIBILITY STUDY WITH THE SEC

Niocorp Developments Ltd. 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, which regulates disclosure of mineral resources and mineral reserves. A companion technical report for Canadian purposes, pursuant to National Instrument 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.

About Niocorp Developments Ltd.

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; it 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 (NdFeB) magnets, which are used across a wide variety of defence and civilian applications.