NioCorp will hold its Annual General Meeting on December 15, 2022

CENTENARY, Colo., October 28, 2022 /CNW/ — NioCorp Developments Ltd. (“NioCorp“or the”Company“) (TSX: NB) (OTCQX: NIOBF) is pleased to announce that it will be holding its 2022 Annual General Meeting (“AGM”) at 10:00 a.m. mountain time on Thursday, December 15, 2022at 7000 S. Yosemite St., Lower level conference room, Centennial, Colorado80112.

Shareholders registered in October 20, 2022, can vote their shares on the proposals to be considered at the general meeting either by proxy before the meeting or during the meeting. The proxy or voting instructions must be received in each case no later than 10:00 a.m. Mountain Timeon December 13, 2022, or at the latest 48 hours before the resumption of the General Meeting following any adjournment or postponement. The Notice of Meeting, Management Information and Proxy Circular and Form of Proxy relating to the AGM and the Company’s 2022 Annual Report will be made public no later than October 28, 2022.

No action is expected to be taken by the shareholders of the Company at the AGM with respect to the proposed transactions contemplated by the recently announced Business Combination Agreement, dated September 25, 2022among the Company, GX Acquisition Corp. II, and Big Red Merger Sub Ltd (collectively, the “Transaction“), or the approval of any element of the proposed transaction. A separate special meeting of shareholders of the Company is expected to be held to consider the elements of the proposed transaction.

For more information:

Jim SimsCorporate Communications Officer, NioCorp Developments Ltd.720-639-4650, [email protected]

@NioCorp $NB.TO $NIOBF $BR3 #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek #EV #electricvehicle

About NioCorp

NioCorp is developing a critical minerals project in Southeast Nebraska which will produce niobium, scandium and titanium. The Company is also evaluating the production potential of several rare earths from the Project. Niobium is used to produce specialty alloys 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 special metal that can be combined with aluminum to make alloys with increased strength and better corrosion resistance. Scandium is also an essential component of advanced solid oxide fuel cells. Titanium is used in various light alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium, are essential to the manufacture of neodymium-iron-boron (“NdFeB”) magnets, which are used in a wide variety of military and civilian applications .

Forward-looking statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements about NioCorp’s expectations regarding actions to be taken at the AGM. Forward-looking statements are generally identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, “expect”, “project”, “continue”, “could”, “may”, “might”, “possible”, “potential”, “plans”, “should”, “would” and other similar words and expressions, but the absence of such words does not mean that a statement is not forward-looking.

Forward-looking statements are based on the current expectations of NioCorp’s management and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions regarding: proposals to be considered at the AGM. These expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that could cause actual results or performance to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings by NioCorp with the SECOND and with applicable Canadian securities regulators and the following: NioCorp’s ability to operate as a going concern; NioCorp’s requirement for significant additional capital; NioCorp’s limited operating history; NioCorp’s loss history; cost increases for NioCorp’s exploration and, if warranted, development projects; disruption or failure of NioCorp’s information technology systems, including those related to cybersecurity; shortages of equipment and supplies; current and future offtake agreements, joint ventures and partnerships; NioCorp’s ability to attract qualified executives; the effects of the COVID-19 pandemic or other global health crises on NioCorp’s business plans, financial condition and liquidity; mineral resource and reserve estimates; mining exploration and production activities; the results of the feasibility study; 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 to comply with laws and regulations and other regulatory requirements; the possibility that actual results of the work may differ from projections/expectations or fail to realize the perceived potential of NioCorp’s projects; risks of accidents, equipment failures and labor disputes or other unforeseen difficulties or disruptions; the possibility of cost overruns or unforeseen expenses in development programs; operational or technical difficulties related to exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of reserve and resource grades; claims to title to NioCorp properties; potential future litigation; and NioCorp’s lack of insurance covering all of NioCorp’s operations.

Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by NioCorp’s management prove incorrect, actual results may differ materially from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements regarding the matters discussed herein and attributable to NioCorp or anyone acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unforeseen events.

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