Vancouver, British Columbia – April 2, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB, OTCQX: NIOBF, FSE: BR3) is pleased to announce an update concerning senior management.
Effective immediately, Mr. Neal Shah has been appointed to the position of Interim Chief Financial Officer. Neal is a graduate of the University of Colorado’s Mechanical Engineering program (BSME) and Purdue University’s Krannert School of Management (MBA). With nearly 20 years of experience in various industries as diverse as high-tech to rare earths, his recent experience includes the positions of Senior Manager of Corporate Development and M&A and more recently the Director of Strategy and Business Planning at Molycorp’s corporate offices in Greenwood Village, CO. Neal has been with NioCorp since September 2014, fulfilling the role of Vice President of Finance.
In addition, Mr. John Ashburn has been appointed Vice President, General Counsel and Corporate Secretary. Mr. Ashburn is an attorney with 35 years of experience, including 25 years in extractive industries. Most recently, Mr. Ashburn acted as Vice President, Chief Legal Officer and a member of the Board of Directors of Simbol, Inc., a privately held development stage Lithium production company. He previously served as Executive Vice President and General Counsel of Molycorp, Inc. and prior to that held senior legal positions with Chevron and Unocal Corporation. Mr. Ashburn holds a Juris Doctorate from Northern Illinois University, School of Law.
“With his educational background, diverse historical experience and recent time spent at NioCorp, Neal is an excellent person to take over the role of Interim CFO and help guide the Company forward as we work diligently towards feasibility,” stated Mark Smith, Executive Chairman. “As another key addition to the team, John’s business acumen, “can do” attitude and legal experience will ensure our ability to move forward in developing the Elk Creek project and optimizing shareholder value.”
In order to accommodate these changes, the Company has accepted the resignation of Mr. Casey Forward, who is stepping down as CFO after many years of service to the Company. Casey will remain with the Company during a transition period. Niocorp recognizes Casey’s valuable contributions and wishes him well in his future endeavors. In addition, Mr. Peter Dickie has resigned his role as Corporate Secretary, which the board has accepted. He remains in the position of President.
About the Company: NioCorp is 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 is announcing an NI43-101 compliant resource with an effective date of February 20, 2015 reporting an Indicated Resource of 80.5 million tonnes grading 0.71% Nb2O5, 2.68% TiO2 and 72 ppm Sc and an Inferred Resource of 99.6 million tonnes grading 0.56% Nb2O5, 2.31% TiO2 and 63 ppm Sc (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, which is a lighter, stronger steel used in automotive, structural and pipeline applications. The U.S. imports 100% of its niobium needs. Titanium in the form of an oxide is used extensively as a pigment in paints, plastics and papers. As a metal, titanium is used in aerospace applications, armor, chemical processing applications, marine hardware applications, medical implants, power generation and in sporting goods. Scandium is used in solid oxide fuel cells (SOFCs) and aluminum-scandium alloys, as well as in ceramics, electronics, lasers and lighting applications.
For further information, contact the Company at (604) 568-7365 or at www.NioCorp.com
ON BEHALF OF THE BOARD
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