NioCorp Developments Ltd.
TSX VENTURE : NB
OTCQX : NIOBF
FRANKFURT : BR3

NioCorp Developments Ltd.

October 17, 2013 09:28 ET

NioCorp to Contract SGS Canada for Metallurgical Optimization Studies

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2013) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to provide the following update:

Further to the Company's news release of September 26, 2013 NioCorp has signed a confidentiality agreement to engage SGS Canada Inc., of Mississauga, Ontario, in order to proceed with metallurgical development of the Elk Creek niobium deposit. SGS are recognized world leaders in the handling and processing of niobium ores. The Company anticipates finalizing scope of work parameters in the next few days, and expects work will commence immediately thereafter. Results of this work are necessary for the production of a Preliminary Economic Analysis report, and following that, will be utilized in preparation of a Feasibility Study.

NioCorp Director, Claude Dufresne, who's background includes metallurgical work with Cambior (later acquired by Iamgold, operators of the Niobec Mine), will oversee the metallurgical activity.

"We are pleased to be able to enlist the services of SGS to carry out extensive testing and optimization of metallurgical processes for the Elk Creek project. We are very encouraged by the reaction to our capital raising news of September 23, 2013, providing the confidence level to enable entering into this contract," stated NioCorp President, Peter Dickie.

About NioCorp: The Company is developing the Elk Creek Carbonatite, the only primary niobium deposit known to be under development in the U.S., and the highest grade known, undeveloped niobium deposit in North America. The currently defined significant size and grade of this strategic mineral deposit (inferred mineral resource of 19.3 Million tonnes grading 0.67% Indicated containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% containing over 523,844 tonnes of Nb2O5. NI 43-101 compliant technical report: "Elk Creek Nb Project, Nebraska, US Resource Estimate Update", April 23, 2012), is garnering the attention of a number of significant domestic and international corporations.

ON BEHALF OF THE BOARD

Peter Dickie, President

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; the possibility that individuals who have expressed their intention to subscribe under the Company's previously announced private placement may not ultimately do so; 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.

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