NioCorp Developments Extends Land Agreements

NioCorp Developments (TSX:NB,OTCQX:NIOBF) has executed five year extensions to all land agreements covering resources at its Elk Creek Niobium project. NioCorp released a preliminary economic assessment for the project earlier this month.

As quoted in the press release:

In August of 2014, Company officials began working with local landowners in the vicinity of the Elk Creek Niobium Project to secure these agreements. The agreements are in the form of pre-paid options that allow NioCorp the exclusive right to conduct mineral exploration activities on the subject properties over a 5 year term. At any time during the 5 year term, the Company can exercise an option to purchase the mineral rights and in some cases the surface rights for a price determined in accordance with the terms of the agreement. All of the surface and mineral rights in the vicinity of the Project are owned by private entities, and none of the land is owned by federal or state governments.

NioCorp executive chairman, Mark Smith, said:

I am extremely pleased that we were able to reach these agreements in the Project area which secure our rights to the Elk Creek Resource while at the same time providing reasonable financial terms for the local landowners. We will continue to pursue additional land agreements with landowners in the area in order to support our planned operations.

Click here to read the NioCorp Developments (TSX:NB,OTCQX:NIOBF) press release