NioCorp Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2015) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) today announced changes to its management team and an update on its corporate headquarters.

After six and a half years of service, Mr. Peter Dickie has elected to retire from the Company and will be stepping down from his roles as President and Board member of NioCorp, effective May 31, 2015. The Company's remaining Board of Directors, management team, and employees would like to thank Mr. Dickie for his dedicated service to the Company and for the invaluable role he has played. Mr. Dickie has agreed to provide consulting services to the Company on an as needed basis, in order to ensure a smooth transition. In light of Mr. Dickie's retirement, the Board has appointed Mark A. Smith to assume the additional role of President, effective June 1, 2015.

In conjunction with Mr. Dickie's retirement, the Company also announced that, effective immediately, NioCorp's headquarters is being relocated from Vancouver, BC, Canada to Denver, Colorado, USA, where its senior management team is now based. This move will facilitate more efficient management of day-to-day development operations at the Company's Elk Creek, Nebraska mine site.

Effective May 26, 2015, Mrs. Teresa McGowan has been appointed to the role of Senior Manager of Investor Relations. Mrs. McGowan brings significant buy-side and sell-side experience to the role, and most recently served as the Senior IR Specialist at DigitalGlobe Inc., an NYSE listed company.

"On behalf of NioCorp's board of directors and its shareholders, we thank Peter for his tremendous efforts and contributions to the Company, and the key role he played in bringing the Company and the Elk Creek niobium resource to this key juncture," said Mark A. Smith, CEO of NioCorp. "Peter was instrumental in obtaining purchase options for mineral rights and the early development of the Elk Creek Project. Thanks to his efforts, following completion of the Feasibility Study and funding efforts, the Company expects to move into the construction phase of the Elk Creek mine development in 2016."