NioCorp Purchases Final Land Parcels Necessary to Support a Construction Launch of the Elk Creek Critical Minerals Project

Rhea-AI Summary

NioCorp (Nasdaq: NB) announced on October 6, 2025 that it purchased an additional 325.77 acres tied to the Elk Creek Critical Minerals Project in Nebraska.

The acquisition gives NioCorp ownership of all land hosting the project’s Mineral Resource and Mineral Reserve plus the surface and mineral rights needed to begin construction once project financing is obtained. The company also holds options on adjacent parcels and says the land position can support planned commercial operations and could allow expansion beyond the current 38-year estimated mine life.

Positive

• Acquired 325.77 acres on October 6, 2025
• Ownership includes all surface and mineral rights for the Elk Creek resource
• Land position sufficient to support planned commercial operations
• Options on adjacent lands could extend beyond 38-year estimated mine life

Negative

• Construction remains contingent on obtaining project financing
• No purchase price or financing timeline disclosed in announcement

Insights

Mining project development analyst

NioCorp completed purchase of all land hosting the Elk Creek resource, removing a key site-control hurdle before construction finance.

NioCorp now owns the surface and mineral rights for the Elk Creek Project and the land needed to begin construction once project financing is secured. Clear site control removes a common execution hurdle and aligns physical permitting and construction planning with the stated mine life of 38 years.

The primary dependency remains obtaining project financing; land ownership alone does not start construction. Regulatory, financing, and engineering milestones must still be met before ground break. Local stakeholder support noted by management reduces one execution risk but does not replace formal permits or financing.

Watch for concrete financing milestones, permitting approvals, and any announced construction schedule; near-term items to monitor include binding financing agreements and permit issuance over the next 12–24 months. Oct 6, 2025 is the announced date for this land completion.

CENTENNIAL, CO / ACCESS Newswire / October 6, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (Nasdaq:NB), announced today that it has finalized the purchase of an additional 325.77 acres of land associated with its Elk Creek Critical Minerals Project (the "Elk Creek Project") in Nebraska. The acquisition provides NioCorp with ownership of all land that hosts the Elk Creek Project's Mineral Resource and Mineral Reserve and all acreage necessary to commence construction once project financing is obtained. This ownership position includes all necessary surface and mineral rights.

"This land purchase positions NioCorp to get out of the blocks quickly once we complete project financing and get the Elk Creek Project under construction and into commercial operations," said Mark A. Smith, NioCorp CEO and Executive Chairman. "The local landowners are a core component of this Project's success, and I cannot thank the people of southeast Nebraska enough for their continuing support and partnership in this historic, job-creating project."

Through its land ownership position along with options to purchase additional lands adjacent to that position, the Company has enough land to support planned commercial operations and potentially expand its current Mineral Resource and Reserve beyond the current 38 years of estimated mine life.

Qualified Persons: Scott Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

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FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (720) 334-7066, aguthrie@niocorp.com

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

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska (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.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements herein include, but are not limited to: statements regarding the expected impact of the recently acquired land parcel on the Elk Creek Project; the Company's ability to secure project financing on acceptable terms or at all; the anticipated commencement of construction activities; the timing of moving the Elk Creek Project into commercial operations; and the potential to extend mine life or expand Mineral Resources and Mineral Reserves through additional land acquisitions. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; the future price of metals; the stability of the financial and capital markets; NioCorp's ability to service debt and meet the payment obligations thereunder; and current estimates and assumptions regarding the business combination with GX Acquisition Corp. II (the "Business Combination") and the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement" and, together with the Business Combination, the "Transactions") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, and their benefits. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the U.S. Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States on an acceptable timeline, on acceptable terms, or at all; NioCorp's ability to recognize the anticipated benefits of the Transactions, including NioCorp's ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet the listing standards of Nasdaq; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness or the Yorkville Equity Facility Financing Agreement may impair NioCorp's ability to obtain additional financing; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the Transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

View the original press release on ACCESS Newswire

FAQ

How many acres did NioCorp (NB) acquire for the Elk Creek Project on October 6, 2025?

NioCorp acquired 325.77 acres associated with the Elk Creek Project.

Does the NioCorp land purchase include mineral rights for Elk Creek (NB)?

Yes, the purchase includes ownership of all surface and mineral rights hosting the project’s resource and reserve.

Will the Elk Creek Project (NB) start construction immediately after the land purchase?

Not immediately; construction is planned once project financing is obtained.

Does NioCorp (NB) now have enough land to operate Elk Creek commercially?

The company says its land position is enough to support planned commercial operations and potential expansion.

Can the Elk Creek acquisition extend the mine life for NioCorp (NB)?

NioCorp states options on adjacent lands could allow expansion beyond the current 38-year estimated mine life.

Who reviewed and approved the technical information in the NioCorp land announcement (NB)?

Scott Honan, M.Sc., SME-RM, COO of NioCorp, is the Qualified Person who reviewed and approved the technical information.