NioCorp Closes Private Placement

NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX VENTURE:NB)
(OTCQX:NIOBF) (FRANKFURT:BR3) is pleased to announce the final closing of its
non-brokered private placement, (see news release January 15, 2014 and March 3,
2014). The Final Tranche closing consisted of the issuance of a total of
5,856,608 common shares at a price of $0.20 per common share to 15 placees, for
gross proceeds of $1,171,321. Together with the first tranche closing, the
Company issued a total of 18,860,668 shares, for gross proceeds of $3,772,133.


Insider Group participation in the Final Tranche included three subscribers for
a total of 3,432,483 common shares, including Mark A. Smith, CEO, who subscribed
for a total of 2,882,483 shares, increasing his share holdings to a total of
9.46% of the issued and outstanding shares of the Company. Also participating
were Casey Forward, CFO, for 300,000 shares, and Peter Dickie, President, for
250,000 shares. In connection with the closing of the Final Tranche, the Company
will pay finder's fees totalling $11,550. 


All securities issued under the Final Tranche are subject to a hold period
expiring, July 20, 2014, being four months and one day from the date of
issuance. The proceeds of the Private Placement will be used to conduct
additional resource definition and technical studies to further develop the
Company's Elk Creek Niobium project and for general working capital.


Together with the funds raised in late 2013, the company has now raised in
excess of $5.5 million, providing adequate capital to allow for implementation
of the Company's development plans at Elk Creek. A further news release will be
issued in the coming days detailing various aspects of the planned work
programs.


"We are very pleased to have raised this capital in otherwise difficult market
conditions. This funding will allow for a dramatic increase in the technical
work necessary to advance the Elk Creek niobium deposit," said Mark Smith, CEO.
"We look forward to announcing the results of ongoing corporate planning,
including scheduled work programs and start dates in the near future."


About the Company: NioCorp are developing the only primary niobium deposit known
to be under development in the U.S., and the highest grade undeveloped niobium
deposit in North America, located near Elk Creek, Nebraska. The Company has
published an NI 43-101 resource of 19.3 Million tonnes grading 0.67% Indicated,
containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% Inferred,
containing over 523,844 tonnes of Nb2O5). Niobium is mainly used in the form of
Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce
lighter, stronger steel for use in automotive, structural and pipeline
industries. The U.S. imports 100% of its niobium needs.  


ON BEHALF OF THE BOARD

Peter Dickie, Director, President and Corporate Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Certain statements contained in this press release may constitute
forward-looking statements. Such forward-looking statements are based upon
NioCorp's reasonable expectations and business plan at the date hereof, which
are subject to change depending on economic, political and competitive
circumstances and contingencies. 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 changes in demand for and price of
commodities (such as fuel and electricity) and currencies; 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
labour 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. 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.


This press release is not for distribution or dissemination in the United States
and accordingly, shall not constitute an offer of securities in the United
States. The securities that may be issued pursuant to this press release are not
currently qualified by prospectus or registered under the U.S. Securities Act of
1933, as amended (the "Securities Act"), or the laws of any state, and may not
be offered or sold in the United States, or to, or for the account or benefit of
United States persons (as defined in Regulation S under the Securities Act) or
persons in the United States absent registration or an applicable exemption from
the registration requirements. The securities are subject to resale restrictions
under applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
NioCorp Developments Ltd.
[phone]
www.NioCorp.com