Niocorp Developments Ltd (NB)

[PutzMueler]

Keep it real,

Jim S. is real, and, Dr. Matheson is real. . . Your not!

"The pricing for the 99.9% pure Sc2O3 product we intend to make was estimated by an independent scandium market expert, Dr. Andrew Matheson, a leading authority on scandium alloys and scandium markets. Further, as an accomplished specialty alloy metallurgist who also works in conjunction the U.S. Department of Defense, Dr. Matheson is highly knowledgeable in scandium alloy development and in the specific applications that are likely to benefit most from the revolutionary advantages that Sc2O3 can deliver. Such knowledge is critical to accurately forecasting pricing. Dr. Matheson conducted a very detailed market assessment and supply/demand analysis to arrive at his pricing forecast. We had very little input into his analysis other than to disclose the product we intend to make and our production targets. The independent experts who wrote our Feasibility Study plugged in Dr. Matheson’s numbers for Sc2O3 pricing into their economic model."

note the words "knowledge" and "accurately"