Second Completed Diamond Drill Hole Of Elk Creek Program

CENTENNIAL, CO – NioCorp Developments Ltd. reported on the second diamond drill hole completed as part of the Company’s drilling program at its critical minerals project in Southeast Nebraska (Elk Creek Project).
The second drill hole was completed to a total depth of 928.42 meters (“m”) with a total drill hole length within the carbonatite of 733.42 m and intersected the targeted lithologies over its entire length. Extended intervals of mineralization were observed throughout the entire length of the drill hole, returning several long intervals that are consistent with the existing Mineral Resource model for the Elk Creek deposit.
“Results from this second drill hole are consistent with our current geological model and provide additional confirmation of the continuity and grade distribution within the deposit,” said Mark A. Smith, CEO and Chairman. “Several intervals returned higher-than-expected assay grades. While we do not draw conclusions from individual drill holes, the overall results to date are encouraging. All work is being conducted in accordance with the highest technical standards and in compliance with the Securities and Exchange Commission’s S-K 1300 and Canada’s NI 43-101 reporting requirements. These results reflect that level of rigor and further support our understanding of the deposit.”
This drilling program and associated technical work was designed to support the conversion of a portion of the Elk Creek Project’s Indicated Mineral Resources into Measured Mineral Resources and the subsequent conversion of a portion of its Probable Mineral Reserves into Proven Mineral Reserves. Assays from the remaining drill holes are being processed by two independent laboratories. Additional results are expected to be released in the next several weeks and final results are anticipated by year-end 2025.