Mr. Jim Sims reports

NIOCORP ANNOUNCES FILING OF ANNUAL FINANCIAL STATEMENTS

Niocorp Developments Ltd. has filed its annual financial statements for the 12 months ended June 30, 2023, the related management's discussion and analysis, and the CEO (chief executive officer) and CFO (chief financial officer) certifications relating to the annual financial statements, on SEDAR+ on Oct. 6, 2023.

Niocorp also submitted its annual report on Form 10-K for the annual period ended June 30, 2023, for filing with the U.S. Securities and Exchange Commission on Oct. 6, 2023.

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