NioCorp Closes Second Tranche of Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Dec. 24, 2013) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX VENTURE:NB) (OTCQX:NIOBF) (FRANKFURT:BR3) announces it has closed the second and final tranche of its brokered private placement financing, previously announced on September 23, 2013 (the "Second Tranche"), for gross proceeds of US$725,550, bringing the total raised in both tranches to US$1,653,542.

The Second Tranche consisted of the issuance of 4,837,000 common shares (the "Shares") at a price of US$0.15 per Share.

Mark Smith, CEO and Director of the Company, subscribed for a total of 3,400,000 Shares in the Second Tranche, for gross proceeds of US$510,000. Peter Dickie, President, Corporate Secretary and Director of the Company subscribed for a total of 350,000 Shares in the Second Tranche, for gross proceeds of US$52,500.

All securities issued pursuant to the Second Tranche are subject to a hold period expiring on April 24, 2014, being four months and one day after closing of the Second Tranche. The proceeds from the Second Tranche will be used for work on the Company's Elk Creek Carbonatite property and for general working capital.


ON BEHALF OF THE BOARD

Peter Dickie
Director, President and Corporate Secretary



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release may constitute forward-looking statements. Such forward-looking statements are based upon NioCorp's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

This press release is not for distribution or dissemination in the United States and accordingly, shall not constitute an offer of securities in the United States. The securities that may be issued pursuant to this press release are not currently qualified by prospectus or registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States persons (as defined in Regulation S under the Securities Act) or persons in the United States absent registration or an applicable exemption from the registration requirements. The securities are subject to resale restrictions under applicable securities laws.



Contact

NioCorp Developments Ltd.
(604) 568-7365
www.niocorp.com