NioCorp Developments Ltd. announced the results of assaying completed on drill core samples from the Elk Creek Project (the "Project") that were obtained through an agreement with the University of Nebraska's Conservation and Survey Division ("CSD"). A total of 1,094 samples originating from 18 diamond drill holes completed by previous operators of the Project were obtained pursuant to an agreement between the Company and CSD and were assayed for rare earth element content at Actlabs in Ancaster, Ontario. The assay results were subjected to a Quality Assurance and Quality Control program consistent with industry best practices. With the completion of this recent assay work, the rare earth assay database is considered complete for the purposes of calculating the potential rare earth content within the footprint of the previously announced niobium, scandium, and titanium Mineral Resource at the Elk Creek Project. If NioCorp is able to complete an update to its existing Mineral Resource and add information on rare earth content data, that update is expected to provide the average content (ore grade as expressed in parts-per-million, or PPM) and total contained tonnage of each individual rare earth element in the Mineral Resource. In addition to the work now being conducted by independent geologic consultants on a potential updated Mineral Resource with rare earth data added, NioCorp is aggressively pursuing a technical work plan that includes metallurgical testing, mineral resource and reserve calculations, and additional market studies focused on rare earths. The assay intervals noted do not constitute a Mineral Resource or a Mineral Reserve under any regulatory definition. Each drill hole is within the footprint of the 7,800-acre Elk Creek Carbonatite as well as being within the footprint of the existing niobium, scandium, and titanium mineral resource. Each drill hole noted above is located on land that the Company currently owns or is subject to an exclusive Option to Purchase agreement with the local landowner. The mineral resource is depicted on the map below using a 0.3% Nb2O5 grade shell, along with the drill holes noted in the table above.