NioCorp Applies for Debt Financing From the US Export-Import Bank

CENTENNIAL, CO / ACCESSWIRE / June 6, 2023 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB)(TSX:NB) announces today that it has submitted an application to the Export-Import Bank of the United States ("EXIM") for debt financing (the "Debt Financing") to fund the project costs for the Company's proposed Elk Creek Critical Minerals Project (the "Elk Creek Project"), located in southeast Nebraska, under EXIM's "Make More in America" initiative.

The Company submitted its Phase I application following receipt of a Letter of Interest from EXIM in February 2023, as announced on March 6, 2023, with regard to EXIM's potential interest in helping to finance the construction and development of the Elk Creek Project.

According to EXIM, the process from submission of a Phase I application to a final commitment of financing by EXIM, if any, is expected to take approximately six to nine months and is subject to a number of risks and uncertainties. See "About NioCorp's Application Process" and "Forward-Looking Statements" below for additional information.

The Debt Financing is subject to, among other matters, the satisfactory completion of due diligence, the negotiation and settlement of final terms, and the negotiation of definitive documentation. There can be no assurance that the Debt Financing will be completed on the terms described herein or at all.

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FOR MORE INFORMATION:
Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., 720-334-7066, [e-mail]

@NioCorp @EXIM $NB $NB.TO #niobium #scandium #titanium #rareearths #neodymium #praseodymium #dysprosium #terbium

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron ("NdFeB") magnets, which are used across a wide variety of defense and civilian applications.