NioCorp's Scott Honan Promoted to Chief Operating Officer

CENTENNIAL, July 2, 2020 - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce the promotion of Scott Honan to Chief Operating Officer ("COO") of NioCorp, a new position. The promotion is effective immediately.

"This is a well-deserved promotion for a friend and colleague who maintains the highest standards of honesty, integrity, and dedication," said NioCorp's CEO and Executive Chairman Mark A. Smith. "Scott was instrumental in the characterization of the Elk Creek Project's significant reserve and resource assets, as well as the design of the Project's proposed underground mine and surface processing facility. Under Scott's leadership, the Project has evolved into a highly efficient, environmentally sound, and compelling critical minerals project."

Mr. Honan joined the Company in 2014 as NioCorp's Vice President of Business Development. In addition to his role as NioCorp's new COO, Mr. Honan will remain President of Elk Creek Resources Corporation, NioCorp's operating subsidiary.

Mr. Honan has more than 25 years of experience in base metals, gold, niobium, and rare earth mining and processing. He served as General Manager and Environmental Manager at the Mountain Pass, CA rare earth facility and as Vice President of Health, Environment, Safety and Sustainability at Molycorp.

Mr. Honan is a graduate of Queen's University in Mining Engineering in both Mineral Processing (B.Sc. Honors) and Environmental Management (M.Sc.) disciplines. He is a Registered Member (No. 04231597) of the Society for Mining, Metallurgy & Exploration (SME).

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For More Information:

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys 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 superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this document may constitute forward-looking statements, including statements related to the Company's belief that the Elk Creek Project, and its reserve and resource is world-class and is one of the most efficient, environmentally sound, and compelling critical minerals projects in the world today. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company's filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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SOURCE NioCorp Developments Ltd.