CENTENNIAL, Colo., April 23, 2021 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the
"Company") (TSX:NB) (OTCQX:NIOBF) is pleased to
announce that it has formally closed on the purchase of a key land
parcel associated with the Company's Elk Creek Superalloy Materials
Project. With this acquisition, NioCorp now owns the surface
land on which the Project's mine infrastructure and supporting
operations will be located once sufficient project financing is
obtained to allow the Project to proceed. Ownership of the
land also gives NioCorp ownership of the mineral rights to more
than 90% of the Project's Mineral Resource and Mineral
Reserve. The purchase price was approximately $6.2 million.
"We are thrilled to have accomplished this major milestone in
the Elk Creek Project and to now be an owner of this valuable land
instead of a renter," said Mark A.
Smith, NioCorp CEO and Executive Chairman. "This
acquisition moves the Project another step forward on our path to
project financing and the start of construction."
Qualified Persons: Scott
Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a
Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the technical information contained in the
news release.
@NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek #Nebraska
For More Information
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., 720-639-4650,
jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in
Southeast Nebraska that will
produce Niobium, Scandium, and Titanium. Niobium is used to produce
superalloys as well as High Strength, Low Alloy ("HSLA") steel,
which is a lighter, stronger steel used in automotive, structural,
and pipeline applications. Scandium is a superalloy material that
can be combined with Aluminum to make alloys with increased
strength and improved corrosion resistance. Scandium is also a
critical component of advanced solid oxide fuel cells. Titanium is
used in various superalloys and is a key component of pigments used
in paper, paint and plastics and is also used for aerospace
applications, armor and medical implants.
Forward-Looking Statements Disclaimers
Certain statements contained in this document may constitute
forward-looking statements, including statements regarding
NioCorp's expectation that it will obtain sufficient financing to
allow the Project to proceed. 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
risks related to the Company's ability to operate as a going
concern; risks related to the Company's requirement of significant
additional capital; changes in demand for and price of commodities
(such as fuel and electricity) and currencies; changes in economic
valuations of the Project, such as Net Present Value calculations,
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
labor 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 and the risks set
forth in the Company's filings with Canadian securities regulators
at www.sedar.com and the SEC at www.sec.gov. 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.
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SOURCE NioCorp Developments Ltd.