NioCorp Developments Ltd.

TSX VENTURE : NB
OTCQX : NIOBF
FRANKFURT : BR3


NioCorp Developments Ltd.

March 05, 2014 16:30 ET

NioCorp Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 5, 2014) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce a first tranche (the "First Tranche") closing of its non-brokered private placement, previously announced January 15, 2014 (the "Private Placement"). The First Tranche closing consisted of the issuance of a total of 13,004,060 common shares at a price of $0.20 per common share to 82 placees, for gross proceeds of $2,600,812.

In connection with the closing of the First Tranche, the Company will pay finder's fees totalling $82,740. Pro Group participation in the First Tranche included two subscribers for a total of 450,000 common shares.

All securities issued under the First Tranche are subject to a hold period expiring four months and one day from the date of issuance.

In addition, the TSX Venture Exchange has granted the Company an extension for the filing of final material with respect to the Private Placement to March 30, 2014. It is anticipated the Company will close the final tranche of the Private Placement on or before this date.

The proceeds of the Private Placement will be used to conduct further exploration and development of the Company's Elk Creek Niobium project and for general working capital.

About the Company: NioCorp are developing the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has published an NI 43-101 resource of 19.3 Million tonnes grading 0.67% Indicated, containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes of Nb2O5). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.

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.

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