Niocorp Developments Ltd (NB)

[HoppaJohn]

NioCorp Reports Highlights of 1st Quarter Fiscal 2017 Financial Results

CENTENNIAL, Colo. (January 29, 2016) – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB; OTCQX: NIOBF; and FSE: BR3) today released highlights of its financial results for the quarter ending September 30, 2016. The Company concluded the quarterly period with a cash balance of US$1.7 million, compared to US$4.4 million at June 30, 2016.

The Company is releasing highlights of its first quarter 2017 results, shown below, and expects to file Form 10-Q detailing its full financial results for the quarter prior to the regulatory deadline of November 14th with the U. S. Securities and Exchange Commission (“SEC”) at http://www.sec.gov, as well as on SEDAR at http://www.sedar.com and on NioCorp’s website at http://www.niocorp.com.

NioCorp’s financial results for the first quarter of fiscal 2017 include the following:
Cash and cash equivalents at September 30, 2016 totaled US$1.7 million.

A net loss of US$2.8 million, or US$0.02 per common share, for the three-month periods ended September 30, 2016 and 2015.

Exploration expenditures at the Company’s Elk Creek Project totaled US$2.0 million, as noted below.
For the three months ended September 30, (US$000’s)

2016 2015
Technical studies and engineering $519 $1,416
Field management and other 234 168
Drilling - 281
Metallurgical Development 1,190 85
Geologists and field staff 27 14
TOTAL $1,970 $1,964
As of September 30, 2016, the Company had total assets of US$13.0 million, total liabilities of US$9.3 million, and a working capital deficiency of US$0.4 million. These figures compare to total assets of US$15.2 million, total liabilities of US$9.1 million and working capital of US$2.3 million at June 30, 2016. These changes resulted from the Company’s continued work and focus on completion of a feasibility study for the Elk Creek Project, and the overall timing of financing inflows.

On Behalf of the Board of Directors:

“Mark Smith”