Mr. Mark Smith reports

NIOCORP COLLABORATING WITH LEADING UK-BASED RESEARCH UNIVERSITY TO DEVELOP INNOVATIVE ALUMINUM-SCANDIUM ALLOYS FOR THE AUTOMOTIVE SECTOR

Niocorp Developments Ltd. has entered into an agreement with London-based Brunel University London, a leading research university focused on application of cast aluminum alloys globally, to develop innovative aluminum-scandium alloys and applications for use in the automotive sector.

Niocorp has joined with the Brunel Centre for Advanced Solidification Technology (BCAST) to develop a range of innovative aluminum alloys for the automotive sector. These alloys will utilize scandium to enhance the performance of aluminum components in order to facilitate:

• Vehicle light weighting -- developing aluminum-scandium alloys that reduce weight, increase automobile efficiencies and reduce emissions;
• Recycling -- utilizing the performance-enhancing attributes of scandium to increase recyclability, creating sustainable low-carbon circular supply chains;
• Cost reduction -- reducing manufacturing costs and waste through utilizing scandium to increase the strength, ductility, weldability, durability, surface finish and corrosion resistance of critical aluminum components.

"We are excited by the opportunity of working closely with what we believe is a world-leading team to develop innovative solutions that we expect will bring real value to the automotive sector and facilitate the transition to a more sustainable future. While this initiative is targeted to automotive markets, the outcomes of our work could possibly be broadly applied across many other markets, such as aerospace, defence and others, where strength improvements, corrosion resistance and weldability are important," said Mark A. Smith, chairman and chief executive officer of Niocorp.

Niocorp plans to produce approximately 100 tonnes of scandium per year from its Elk Creek critical minerals project in southeast Nebraska once the project is financed, constructed and ramped up to full commercial production. If full commercial production was accomplished, Niocorp would be the world's single largest producer of scandium, which is designated by the U.S. government as a critical mineral for the U.S. economy and national security.

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.

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