U.S. Export-Import Bank Features NioCorp's Elk Creek Critical Minerals Project in EXIM's Factory Floor Fridays Initiative

Rhea-AI Summary

NioCorp Developments (NASDAQ:NB) announced that EXIM featured its Elk Creek Critical Minerals Project in Nebraska in its Factory Floor Fridays initiative.

The feature includes footage of EXIM Chairman John Jovanovic's October 14, 2026 visit. During that visit, EXIM and NioCorp signed a Letter of Support reiterating EXIM's target to provide debt financing equivalent to approximately 65% of upfront project capital expenditures. Financing remains subject to applicable requirements, satisfactory due diligence and EXIM approval. EXIM expects to advance due diligence toward further internal review through its Transaction Review Committee. NioCorp said its focus remains on completing financing and bringing the project into production.

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Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.EXIM's Letter of Support reiterates targeted debt financing equivalent to approximately 65% of upfront project capital expenditures.

Negative

• Moderate pointTargeted EXIM financing remains subject to applicable financing requirements, satisfactory due diligence and approval processes.

Key Figures

Target debt financing: approximately 65%

Target debt financing

approximately 65%

Share of the project's upfront capital expenditures; subject to financing requirements, due diligence, and approval

Historical Context

1 past event · Latest: Oct 15

1 event

1. Oct 15

   EXIM financing target

   24h Move

   -4.1%

   EXIM reiterated a conditional target to finance approximately 65% of Elk Creek upfront project costs.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CENTENNIAL, CO / ACCESS Newswire / November 13, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, is pleased to announce that the Export-Import Bank of the United States ("EXIM") has featured the Company's Elk Creek Critical Minerals Project (the "Elk Creek Project") in southeast Nebraska as part of EXIM's Factory Floor Fridays initiative, highlighting the pivotal role Elk Creek will prospectively play in strengthening domestic critical mineral supply chains and supporting American manufacturing.

Through its Factory Floor Fridays initiative, EXIM showcases American companies and workers contributing to the next generation of U.S. industry, including projects aimed at strengthening domestic production, supporting American jobs, and improving the competitiveness of U.S. manufacturers.

"EXIM is proud to support projects like NioCorp's Elk Creek mine that will unlock domestic mineral resources, create well-paying jobs, and provide an important boost to reindustrializing America," said John Jovanovic, EXIM Chairman.

"The decision by EXIM to showcase the Elk Creek Project speaks to the growing recognition that America needs to develop its own sources of the critical minerals essential to our economy and national security," said Mark A. Smith, NioCorp Executive Chairman and CEO. "Chairman Jovanovic and his team understand what it takes to bring projects of this scale into production, and we greatly appreciate their continued support. Our focus remains on completing the financing process and bringing this important source of American critical minerals into production as quickly as possible."

The feature includes a video highlighting EXIM Chairman and President John Jovanovic's October 14, 2026 visit to the Elk Creek Project, where he was joined by U.S. Secretary of Energy Chris Wright, Nebraska Governor Jim Pillen, U.S. Senators Deb Fischer and Pete Ricketts, U.S. Representative Adrian Smith, Nebraska Senator Bob Hallstrom, other state and local leaders, and NioCorp leadership.

During the visit, Chairman Jovanovic and NioCorp Executive Chairman and CEO Mark A. Smith signed a Letter of Support (the "Letter") in which EXIM reiterated its target of providing debt financing equivalent to approximately 65% of the Project's upfront capital expenditures, subject to applicable financing requirements and satisfactory completion of EXIM's due diligence and approval processes. The Letter also indicated that EXIM expects to continue advancing its due diligence efforts toward further internal review through its Transaction Review Committee process as expeditiously as practicable.

The Elk Creek Project is designed to produce niobium, scandium, titanium and several rare earth products from a single ore body in southeast Nebraska. These materials are critical to U.S. defense, aerospace, automotive, energy security and advanced manufacturing supply chains, with the United States currently heavily reliant on imports for almost all of these minerals.

EXIM's Factory Floor Fridays feature, including video footage from Chairman Jovanovic's visit to the Elk Creek Project, is available here: https://www.youtube.com/watch?v=51AUHDZCQp0.

# # #

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., (647) 999-0527, aguthrie@niocorp.com

@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, titanium and several rare earth products, including neodymium-praseodymium oxide, dysprosium oxide, terbium oxide, samarium-europium-gadolinium ("SEG") carbonate, and heavy rare earth carbonate. 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 may include, but are not limited to, statements regarding the Company's debt financing application process with EXIM, including EXIM's target of providing debt financing equivalent to approximately 65% of the Elk Creek Project's upfront CAPEX requirements; the expectation that EXIM continues advancing its due diligence efforts and anticipates presenting the transaction for further internal review through EXIM's TRC process as expeditiously as practicable; statements related to the estimated total upfront CAPEX of the Elk Creek Project; statements related to the potential jobs and opportunities for American workers, including the potential for the Elk Creek Project to support thousands of jobs and generate long-term economic growth in Nebraska and the surrounding region; the expected role of the Elk Creek Project in strengthening U.S. critical mineral supply chains and national security, including as a reliable domestic source of critical minerals; and NioCorp's expectation of producing niobium, scandium, titanium and several rare earth products, including neodymium-praseodymium oxide, dysprosium oxide, terbium oxide, SEG carbonate, and heavy rare earth carbonate at the Elk Creek Project. 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 and demand for metals, including Al-Sc alloy; the impact that Chinese restrictions have on pricing and demand including the existence of a bifurcated market between China and the rest of the world; and the stability of the financial and capital markets. 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 Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: 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 achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; 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, if any, or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; NioCorp's limited operating history; NioCorp's history of losses; the material weakness in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weakness 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 business combination with GX Acquisition Corp. II and other related 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; changes in tax laws and regulations; 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, including, without limitation, a reduction of demand for scandium from a downturn in capital spending for AI; impacts on the markets and pricing for scandium and rare earth products from the Chinese-based markets, including any future changes to export restrictions; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to negotiate definitive agreements for existing non-binding memoranda of understanding and non-binding term sheets; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; technical and economic study results; the results of metallurgical testing; the results of technological research; unexpected variations in the quantity of ore, grade or recovery rates, or the presence of deleterious elements that would affect the process plant or waste removal; unexpected geotechnical and hydrogeological conditions from what was assumed in the mine designs; 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 and scandium alloy industries; trade policies and tensions, including tariffs and other export controls; 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; changes in other environmental and social factors; 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, development or scandium alloy production 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 or grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; NioCorp's lack of insurance covering all of NioCorp's operations; and changes in operating and capital costs, exchange rates, metallurgical performance, labor availability and other risks associated with the mining industry.

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

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How much financing is EXIM targeting for NioCorp's Elk Creek Project?

EXIM is targeting debt financing equivalent to approximately 65% of the Elk Creek Project's upfront capital expenditures. The Letter of Support signed on October 14, 2026 reiterates that target; financing remains subject to applicable financing requirements and satisfactory completion of EXIM's due diligence and approval processes.