NioCorp Developments Ltd. announced that elemental analysis of historic drill core samples from the Elk Creek Superalloy Materials Project (the "Project") to ascertain concentrations of rare earth elements ("REEs") and other elements has commenced at Activation Laboratories Ltd.'s ('ActLab') facility in Ancaster, Ontario. ActLab will conduct assay analysis of more than 1,000 samples to determine the content of rare earths and other elements. Results from this analysis, along with previous assays, are expected tbo compile data sufficient to support an update to the Project's Mineral Resource to include individual rare earth elements grades and tonnage. Updating the Project's Mineral Resource is a significant step forward in the Company's examination of the technical and economic feasibility of adding several REEs as byproducts to its current planned product suite, which includes the critical minerals niobium, scandium, and titanium. As previously reported, NioCorp is conducting extensive metallurgical testing at the pilot /demonstration plant level to quantify, among other things, the potential extraction and recovery of REEs from the Project site, subject to receipt of necessary project funding. As part of this process, Salt Lake City-based L3 Process Development ("L3") is constructing and will operate a demonstration plant to process approximately 3,000 kilograms of crushed Project drill core in order to quantify the metallurgical performance of REEs and to address recommendations related to NioCorp's 2019 Feasibility Study for the Project.