NioCorp Completes First Phase of HPGR Testing of Elk Creek Ore Samples

Process Demonstrated Potential Significant Improvements in Project Energy Efficiency

CENTENNIAL, Colo., Aug. 9, 2021 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) is pleased to announce the completion of the first phase of testing of Elk Creek Project ("Project") ore samples using High-Pressure Grinding Rolls ("HPGR") technology.  Testing confirmed that the ore that NioCorp expects to mine from the Project site, subject to receipt of necessary funding, can be successfully processed using HPGR technology, an energy efficient and low-emission alternative for reducing the size of the ore to enable the recovery of niobium, scandium, titanium, and potential rare earth products.  

The testing was conducted at the Natural Resources Research Institute ("NRRI") of the University of Minnesota-Duluth, in partnership with Weir Minerals.

Approximately one tonne of Elk Creek drill core was reduced to the one-millimeter size needed for hydrometallurgical testwork. The test program found that the specific energy per tonne of feed processed could be reduced from the previously estimated 4.18 kilowatt-hour ("kWh") per tonne to 3.06 kWh per tonne.  That represents a 32.5% decrease in the amount of installed power needed for processing, when compared to the previous design basis.

NRRI is currently completing Phase II of the test program, which will provide three tonnes of crushed material suitable for hydrometallurgical testing, which includes optimization of the existing flowsheet and continuation of rare earth recovery test work.

"The results of this testing were very impressive," said Scott Honan, Chief Operating Officer of NioCorp.  "This program confirmed that our ore is amenable to HPGR technology, and we are pleased to see the reduction in energy consumption.  We look forward to announcing the results of the follow-on work that the material produced at NRRI will facilitate."

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 contained in the news release.

@NioCorp $NB $NIOBF #ElkCreek #Niobium #Scandium #Nebraska #HPGR

For More Information:

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Also under consideration by the Company is the production of several magnetic rare earth products.  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 is also 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.  Magnetic rare earths, such as Neodymium, Praseodymium, Terbium, and Dysprosium are critical to the making of Neodymium-Iron-Boron ("NdFeB") magnets, which are used across a wide variety of defense and civilian applications.

Forward-Looking Statements Disclaimers

Certain statements contained in this news release may constitute forward-looking statements, including statements regarding the Company's expectations that the Project will reach production stage if the Company is able to secure project financing and that its HPGR testing on Elk Creek ore samples could be found to be technologically and economically feasible at scale and, if eventually incorporated by NioCorp into the Project's. 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 risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, 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 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; 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 and the risks set forth in the Company's filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. 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.

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SOURCE NioCorp Developments Ltd.