Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Shah Neal S.

2. Date of Event Requiring Statement (MM/DD/YYYY) 10/28/2016

3. Issuer Name and Ticker or Trading Symbol

NIOCORP DEVELOPMENTS LTD [NIOBF]

(Last) (First) (Middle)

C/O NIOCORP DEVELOPMENTS LTD., 7000 YOSEMITE STREET, SUITE 115

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director _____ 10% Owner
___ X ___ Officer (give title below) _____ Other (specify below)
Chief Financial Officer /

(Street)

CENTENNIAL, CO 80112

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	27250	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrants	11/10/2014	11/10/2016	Common Shares	27250	$0.5729 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	9/2/2014	9/1/2017	Common Shares	500000	$0.6957 ⁽²⁾	D
Employee Stock Option (Right to Buy)	12/22/2014	12/21/2017	Common Shares	200000	$0.6871 ⁽³⁾	D
Employee Stock Option (Right to Buy)	1/21/2016	1/20/2021	Common Shares	350000 ⁽⁴⁾	$0.4353 ⁽⁵⁾	D

Explanation of Responses:
( 1)	The warrants were initially purchased as part of a unit offering on 11/10/14. The warrants are governed by a Warrant Indenture dated November 10, 2014 as supplemented by a Supplemental Warrant Indenture on 5/17/16. The exercise price reported above was converted from the Canadian exercise price of $0.65 using an exchange rate of Cdn$1.1345=US$1.00 on 11/10/14.
( 2)	The exercise price reported above was converted from the Canadian exercise price of $0.76 using an exchange rate of Cdn$1.0925=US$1.00.
( 3)	The exercise price reported above was converted from the Canadian exercise price of $0.80 using an exchange rate of Cdn$1.1643=US$1.00.
( 4)	The options vest as follows: 50% on 7/21/16; 25% on 1/21/17; and the remaining balance on 7/21/17.
( 5)	The exercise price reported above was converted from the Canadian exercise price of $0.62 using an exchange rate of Cdn$1.4243=US$1.00.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Shah Neal S. C/O NIOCORP DEVELOPMENTS LTD. 7000 YOSEMITE STREET, SUITE 115 CENTENNIAL, CO 80112			Chief Financial Officer

Signatures
/s/ Neal S. Shah		10/28/2016
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.