NioCorp Issues Update on its Elk Creek, Nebraska Superalloys Project

NioCorp Developments (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) announces recent developments regarding its Elk Creek Superalloy Project (the “Project”).

The Company reconfirms its current plan to issue a press release conveying the top-level results of the Project Feasibility Study (“Feasibility Study”) by the end of the second calendar quarter of 2017. The NI-43-101 compliant report containing the details of the Feasibility Study is expected to be released within 45 days of public release of the Feasibility Study’s top-level results.

The Company announces that elements of the Feasibility Study related to engineering and materials characterization work have recently increased beyond earlier estimates. The Company now estimates that the total cost of completing the Feasibility Study has increased by approximately US$0.8 million above the estimate provided in the Company’s financial statements for the quarter ended March 31, 2017.

Total estimated cost of the Project Feasibility Study is approximately US$33 million, of which approximately US$32 million had been spent as of March 31, 2017.

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium.
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