VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 17, 2013) -
NioCorp Developments Ltd.
("NioCorp" or the "Company") (TSX
VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to provide the
following update:
Further to the Company's news release of September 26, 2013
NioCorp has signed a confidentiality agreement to engage SGS Canada
Inc., of Mississauga, Ontario, in order to proceed with
metallurgical development of the Elk Creek niobium deposit. SGS are
recognized world leaders in the handling and processing of niobium
ores. The Company anticipates finalizing scope of work parameters
in the next few days, and expects work will commence immediately
thereafter. Results of this work are necessary for the production
of a Preliminary Economic Analysis report, and following that, will
be utilized in preparation of a Feasibility Study.
NioCorp Director, Claude Dufresne, who's background includes
metallurgical work with Cambior (later acquired by Iamgold,
operators of the Niobec Mine), will oversee the metallurgical
activity.
"We are pleased to be able to enlist the services of SGS to
carry out extensive testing and optimization of metallurgical
processes for the Elk Creek project. We are very encouraged by the
reaction to our capital raising news of September 23, 2013,
providing the confidence level to enable entering into this
contract," stated NioCorp President, Peter Dickie.
About NioCorp: The Company is developing the
Elk Creek Carbonatite, the only primary niobium deposit known to be
under development in the U.S., and the highest grade known,
undeveloped niobium deposit in North America. The currently defined
significant size and grade of this strategic mineral deposit
(inferred mineral resource of 19.3 Million tonnes
grading 0.67% Indicated containing over 129,182 tonnes of
Nb2O5,
and 83.3 Mt grading 0.63% containing over 523,844 tonnes of
Nb2O5.
NI 43-101 compliant technical report: "Elk Creek Nb Project,
Nebraska, US Resource Estimate Update", April 23,
2012), is garnering the attention of a number of
significant domestic and international corporations.
ON BEHALF OF THE BOARD
Peter Dickie, President
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; the possibility that individuals
who have expressed their intention to subscribe under the Company's
previously announced private placement may not ultimately do so;
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.