NioCorp's Critical Minerals Project Continues to Advance in the U.S. Export-Import Bank Process

CENTENNIAL, CO / ACCESS Newswire / October 1, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) is pleased to announce that the Company took another step this week to advance its application for up to $800 million in potential debt financing to be supported by the Export-Import Bank of the U.S. ("EXIM" or the "Bank") to advance NioCorp's proposed critical minerals project in Southeast Nebraska (the "Elk Creek Project") after executing a professional services agreement with SLR Consulting ("SLR") to conduct an independent environmental and social ("E&S") review, an important part of EXIM's ongoing project due diligence.

In February 2025, EXIM engaged RPMGlobal USA, Inc., which was subsequently purchased by SLR, to conduct an independent technical review of the Elk Creek Project, which is ongoing. SLR will now conduct both the independent technical review and the E&S review on behalf of the Bank.

"We are very pleased to advance the due diligence for EXIM's review of our proposed debt financing by engaging SLR in the E&S review," said Mark A. Smith, Chairman and CEO of NioCorp. "The SLR team is an outstanding selection and they are very familiar with our project, given the technical review work they have been conducting since February of this year. Our team looks forward to engaging with them and EXIM as the due diligence process continues to advance."

NioCorp's application for EXIM funding of the Elk Creek Project passed EXIM's first level of due diligence, known as Transaction Review Committee-1 (TRC-1), in October 2023. In April 2024, EXIM provided NioCorp with a preliminary indicative term sheet for possible financing. NioCorp has engaged JPMorgan Chase Bank, N.A. to assist NioCorp in seeking debt financing supported by EXIM. There can be no assurances that the application will advance or be approved by the EXIM Board of Directors nor that debt financing from EXIM will be provided.

# # #

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

Alex Guthrie, Director of Investor Relations, NioCorp Developments Ltd., [phone], [e-mail]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP
NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy 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 magnets, which are used across a wide variety of defense and civilian applications.