Mr. Mark Smith reports

NIOCORP ANNOUNCES CHANGE IN BOARD OF DIRECTORS

Fernanda Reda Fenga Viana Klamas has resigned from the Niocorp Developments Ltd. board of directors because of an inability to commit the necessary time to serving on the board.

"We thank Fernanda for her service to Niocorp, and we wish her and her family well in all of their future endeavours," said Mark A. Smith, Niocorp chief executive officer and board chairman.

About Niocorp Developments Ltd.

Niocorp is developing a critical mineral project in southeast Nebraska that is expected to produce niobium, scandium and titanium, subject to the receipt of sufficient project financing. 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 defence and civilian applications.