Mr. Jim Sims reports

NIOCORP REPORTS VOTING RESULTS FROM THE ELECTION OF DIRECTORS AT ITS ANNUAL GENERAL MEETING

Niocorp Developments Ltd. has released the details of the voting results for the election of directors at its annual general meeting (AGM), held on Jan. 19, 2024, in Denver, Colo.

At the AGM, seven nominees were elected as directors of the company to serve until the next annual general meeting of shareholders of the company, or until their successors are elected or appointed. The results of the voting were as shown in the associated table.

Shareholders also voted in favour of: (i) setting the number of directors for the ensuing year at seven; (ii) appointing Deloitte & Touche LLP as auditor of the company; (iii) authorizing and approving the amendment and restatement of the Niocorp's long-term incentive plan; and (iv) approving, on a nonbinding, advisory basis, the compensation of the company's named executive officers.

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 Elk Creek project. Niobium is used to produce specialty alloys as well as high-strength, low-alloy steel (HSLA), 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.

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