NioCorp Closes Second Tranche of Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES

NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX
VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) announces it has closed the second and
final tranche of its brokered private placement financing, previously announced
on September 23, 2013 (the "Second Tranche"), for gross proceeds of US$725,550,
bringing the total raised in both tranches to US$1,653,542. 


The Second Tranche consisted of the issuance of 4,837,000 common shares (the
"Shares") at a price of US$0.15 per Share.


Mark Smith, CEO and Director of the Company, subscribed for a total of 3,400,000
Shares in the Second Tranche, for gross proceeds of US$510,000. Peter Dickie,
President, Corporate Secretary and Director of the Company subscribed for a
total of 350,000 Shares in the Second Tranche, for gross proceeds of US$52,500.


All securities issued pursuant to the Second Tranche are subject to a hold
period expiring on April 24, 2014, being four months and one day after closing
of the Second Tranche. The proceeds from the Second Tranche will be used for
work on the Company's Elk Creek Carbonatite property and for general working
capital.


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