NioCorp Adds VP, Business Development

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2014) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX-VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce the appointment of Scott Honan to the position of Vice President, Business Development.

Scott is a graduate of Queen's University in Mining Engineering in both Mineral Processing (B.Sc. Honors) and Environmental Management (M.Sc.) disciplines. With over 20 years of experience in the gold and rare earth industries, his background includes the positions of General Manager and Environmental Manager at Molycorp's Mountain Pass, CA facility, and more recently, Vice President Health, Environment, Safety and Sustainability at Molycorp's corporate office in Greenwood Village, CO.

Included in Scott's duties will be complete oversight of all activities related to the Company's Elk Creek Niobium project. These duties will include coordination of work being performed by consultants such as SRK Consulting, SGS Canada Inc., Hazen Research Inc. and Dahrouge Geological, in order to rapidly propel the project in line with NioCorp's corporate planning.

"We believe Scott is the ideal candidate to enable the rapid ramp-up of development work being implemented at the Elk Creek Niobium project, as we carry out the necessary studies required to accelerate the Company through the project development stage," stated Mark Smith, CEO

The Company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 500,000 common shares of the Company for a period of 3 years at a price of $0.50 per share.

The Company is reviewing potential candidates to enhance and augment the Board of Directors in light of the stage of corporate growth we are entering into, following acceptance of the resignation of Claude Dufresne due to a potentially conflicting personal situation. Claude has been a valuable contributor to the Company, and is thanked for his past services.

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.

NioCorp Developments Ltd.(604) 568-7365www.NioCorp.com

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