Vancouver, British Columbia – March 30, 2015 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB, OTCQX: NIOBF, FSE: BR3) wishes to provide an update concerning the delivery of a Preliminary Economic Assessment (“PEA”) report.
As reported in an interview conducted on March 11, 2015, it was stated that a PEA report was scheduled for release during the week of March 16th. However, due to the recent additions of Scandium and Titanium to the NI43-101 resource report, potential changes to parameters regarding estimated mining volumes geared toward maximizing mining efficiency and processes resulting from recent metallurgical testing improvements, as well as the recent initiation of additional hydrologic testing at the site to better refine parameters around water management requirements when the mine is developed, the Company has decided to delay the report until these matters can be more fully addressed in the PEA report.
The Company’s CEO, Mark A. Smith stated “Certain aspects of our plans for the development of the Elk Creek mine are necessarily dynamic at this point due to the rapid pace at which additional information about the resource and mining conditions at the site are being developed. It is our desire to insure that our shareholders and the investing public receive the most current and reliable information we can provide, so we have decided to delay the PEA until it can be better refined to more fully reflect recent and developing information.” It is now anticipated the PEA report will be released in the next 2 – 3 weeks.
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
“Peter Dickie”
Director, President and Corporate Secretary
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
