Niocorp Developments Ltd (NB)

[GrowthMindset]

NioCorp Completes Pentagon-Funded Drilling Campaign at Elk Creek Critical Minerals Project


CENTENNIAL, Colo. (September 8, 2025) – NioCorp Developments Ltd. (“” or the “”) (), a leading U.S. critical minerals developer, is pleased to announce that a Pentagon-funded exploratory drilling program at the Company’s Elk Creek Critical Minerals Project (“”) in southeast Nebraska has been completed. 

The resource drilling program, funded by the Pentagon, was designed to support converting a portion of the Company’s current Indicated Resources into Measured Resources and the subsequent conversion of a portion of its current Probable Mineral Reserves into Proven Mineral Reserves.  The effort was designed to meet Mineral Reserve requirements of the Export-Import Bank of the U.S. as it processes a proposed debt financing package of up to $800 million for the Elk Creek Project.

Phase I of the resource drilling program, which was completed in August, involved 11 HQ diamond drill holes, totaling approximately 7,336 meters of drilling. Phase 2 of the resource drilling program involved four HQ diamond drill holes totaling approximately 2,235 meters of drilling.  Drill core processing and analysis is currently underway.  Results are expected to be released shortly.

Two additional HQ diamond drill holes are currently underway and are being drilled for geomechanical purposes in the areas where the Company plans to locate underground mine access ramps/declines.  Total meterage associated with the geomechanical drilling is an additional 1,950 meters.

“We want to thank the Trump Administration and the Pentagon for funding these programs, which are designed to support the U.S. Export-Import Bank’s ongoing processing of NioCorp’s proposed debt financing for the Project,” said NioCorp CEO and Chairman Mark A. Smith.  “It is gratifying to see multiple federal agencies working hand-in-glove under President Trump to continue to advance the ball toward reducing America’s dangerous dependence on imports of critical minerals such as niobium, scandium, titanium, and rare earths.”

“We will examine the final assays and analyses of the drill core sampling program, but at this stage, I am confident that we will achieve the goals we set for this drilling campaign,” Mr. Smith added. “This will help move our debt financing process forward with the EXIM Bank.”