Mr. Jim Sims reports
NIOCORP SECURES FINAL LAND OPTION DEAL FOR ITS PROPOSED ELK CREEK SUPERALLOY MATERIALS PROJECT
Niocorp Developments Ltd. has secured an option-to-purchase agreement on a 164-acre land parcel in Johnson and Pawnee counties for use in its proposed Elk Creek superalloy materials project. The five-year agreement completes the process begun in the fourth quarter of 2019, and secures options on all land needed for construction, operations, and planned future expansions as laid out in the Company's 2019 Elk Creek Feasibility Study.
NioCorp's options to purchase land in southeast Nebraska now cover the known Elk Creek Mineral Resource and Mineral Reserve, as well as the strike of the orebody to the northwest and southwest. The Company has no plans to extend any other option-to-purchase agreements or enter into new land option agreements at this time.
Over the last eight months, NioCorp has secured nine option-to-purchase agreements or extensions of existing option-to-purchase agreements covering a total of 1,662 acres of land in southeast Nebraska, with expirations occurring between 2022 and 2040. The Company now holds 13 option-to-purchase agreements covering a total of 2,536 acres In Johnson and Pawnee Counties.
"We are pleased to have secured our final land agreement needed for the Project at this time, and we very much appreciate the ongoing support of our landowner partners," said Scott Honan, COO of NioCorp and President of Elk Creek Resources Corp. "I want to thank Nebraskans once again for the steadfast support of the Elk Creek Project, and I look forward to being able to move to a construction start once project financing is secured."
Qualified Persons: Scott Honan, M.Sc., SME-RM, a Qualified Person as defined by National Instrument 43-101, has read and approved the technical information contained in this news release.
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys 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 superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
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