Mr. Jim Sims reports

NIOCORP TO VOLUNTARILY DELIST FROM THE TSX IN FAVOR OF ITS CURRENT NASDAQ LISTING

Niocorp Developments Ltd.'s board of directors has approved the voluntary delisting of the company's common shares from the Toronto Stock Exchange. Subject to approval by the TSX, it is expected that Niocorp's common shares will be delisted from the TSX effective as of close of markets on May 3, 2024. Niocorp's common shares will continue to be listed and trade on the Nasdaq capital market under the symbol NB.

With more than 90 per cent of its average daily trading volume executed on the Nasdaq, the board concluded that maintaining the TSX listing does not offer sufficient benefits to the company and its shareholders to justify the expenses and administrative costs for the continued TSX listing. The company is not required to seek security holder approval for the delisting since an alternative market for Niocorp's common shares exists on the Nasdaq.

Niocorp will remain a reporting issuer in Canada and will continue to provide regular comprehensive disclosure pursuant to applicable Canadian securities laws.

Many brokers in Canada, including discount and on-line brokers, have the ability to buy and sell securities listed on the Nasdaq. Shareholders holding Niocorp's common shares in Canadian brokerage accounts should contact their brokers to confirm how to trade their shares on the Nasdaq.

About Niocorp Developments Ltd.

Niocorp is developing a critical minerals project in southeast Nebraska that is expected to 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 magnets, which are used across a wide variety of defence and civilian applications.

We seek Safe Harbor.