NioCorp Looks to Potentially Recycle Post-Consumer Rare Earth Magnets and Produce Made-in-USA Heavy Rare Earths in Nebraska

NioCorp to Present on its Production and Recycling Plans at the 20^th Annual Rare Earth Conference in Washington, D.C. on October 15, 2024

CENTENNIAL, September 18, 2024 - NioCorp Developments Ltd. (" NioCorp " or the " Company ") ( NASDAQ:NB ) will discuss at the 20 ^th Annual Rare Earth Conference in Washington, D.C. on October 15, 2024 its plans to potentially produce commercial grade magnetic rare earth (" RE ") oxides at its proposed Elk Creek, Nebraska Critical Minerals Project (the " Elk Creek Project "), including the heavy rare earth oxides of dysprosium and terbium, and potentially recycle post-consumer RE permanent magnets.

NioCorp also intends to explore the possibility of processing magnetic RE concentrates from multiple sources outside of China in order to increase its magnetic RE oxide production - including heavy REs such as dysprosium and terbium -- beyond the Company's current plans. NioCorp CEO and Executive Chairman Mark A. Smith will present at the Conference at 9:30 a.m. Eastern Time on October 15, 2024.

NioCorp's Elk Creek Project is designed to use a whole ore leach process to produce its targeted products, which include niobium, scandium, titanium and, potentially, magnetic RE oxides. Such a process could enable recycling of post-consumer neodymium-iron-boron (" NdFeB ") permanent RE magnets back into separated RE oxides that can be used to make new NdFeB magnets.

NioCorp's planned hydrometallurgical process could also open up the possibility of accepting mixed RE concentrate from other mines and extracting larger amounts of magnetic REs than the Company is currently contemplating. The Elk Creek Project Mineral Resource contains the largest indicated terbium resource in the U.S., as well as the 2nd largest indicated neodymium-praseodymium and dysprosium resources in the U.S. [1]

Recycling Post-Consumer NdFeB Magnets

NioCorp expects to begin work to examine the technical and commercial feasibility of NdFeB magnet recycling once sufficient funding for the research is secured. The effort is expected to involve bench-scale testing and, depending upon results, possibly moving to demonstration-scale testing. The investigation is expected to be conducted separately from the Company's ongoing work to update its Elk Creek Project Feasibility Study.

Once launched, the R&D program will focus on determining efficient processes to de-magnetize, prepare, and grind down used magnets into a feedstock that can then be converted by NioCorp in its planned Elk Creek Project chemical process back into separated rare earth products.

If NdFeB magnet recycling feasibility is successfully demonstrated through this program, and if NioCorp receives sufficient project financing to construct its planned Elk Creek Project facility, NioCorp may be able to increase its planned production of neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide beyond what may be contained in the Elk Creek ore body. As no economic analysis has been completed on the rare earth mineral resource comprising the Elk Creek Project, further studies are required before determining whether extraction of rare earth elements can be reasonably justified and is economically viable after taking account of all relevant factors.

Mr. Smith and NioCorp Chief Operating Officer Scott Honan are also presenting the day prior in Washington, D.C. at the 3 ^rd Annual Scandium Symposium ( see this ).

Qualified Persons:

Scott Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information and verified the data contained in this news release.

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FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek #EV #electricvehicle

ABOUT NIOCORP

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 REs from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy 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, armor, and medical implants. Magnetic REs, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of NdFeB magnets, which are used across a wide variety of defense and civilian applications.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements regarding NioCorp's plans to investigate the feasibility of recycling post-consumer NdFeB magnets and the expected benefits therefrom and capacity therefor; the potential to produce RE products for the Elk Creek Project; the technical and economic feasibility of separating RE oxides; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing REs, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial production. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; the future price of metals; the stability of the financial and capital markets; and current estimates and assumptions regarding the business combination with GX Acquisition Corp. II (the "Business Combination") and the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement" and, together with the Business Combination, the "Transactions") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, and their benefits. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the U.S. Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; NioCorp's ability to receive a final commitment of financiang from the Export-Import Bank of the United States on the anticipated timeline, on acceptable terms, or at all; NioCorp's ability to recognize the anticipated benefits of the Transactions, including NioCorp's ability to access the full amount of the expected net proceeds of under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness or the Yorkville Equity Facility Financing Agreement may impair NioCorp's ability to obtain additional financing; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the Transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and RE products; current and future offtake agreements, joint ventures, and partnerships; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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 labor 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; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

[1] Indicated mineral resource estimates are based on data from the "Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply," U.S. Geological Survey, 2017, and from company-issued reports.

SOURCE: NioCorp Developments Ltd.