Mr. Jim Sims reports

NIOCORP APPOINTS DELOITTE & TOUCHE LLP AS ITS INDEPENDENT AUDITOR

Niocorp Developments Ltd. has appointed Deloitte & Touche LLP as the company's new independent registered public accounting firm, effective immediately. Deloitte replaces BDO USA PC, which elected not to stand for re-election as the company's independent auditor at the company's 2023 annual general meeting of shareholders.

About Niocorp Developments Ltd.

Niocorp is developing a critical minerals project in southeastern Nebraska that is expected to produce niobium, scandium and titanium, subject to the receipt of sufficient project financing. The company is also evaluating the potential to produce several rare earths from the Elk Creek critical-minerals 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 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 magnets, which are used across a wide variety of defence and civilian applications.

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