Elk Creek Project

NioCorp's 100%-owned critical-minerals project near Elk Creek in Johnson County, southeast Nebraska — a carbonatite deposit hosting niobium, scandium and titanium, with a rare earth oxide resource defined as an addition to the deposit. The project is supported by a 2022 feasibility study and an S-K 1300 Technical Report Summary (originally effective June 30, 2022), with reserve and resource estimates updated to an effective date of June 30, 2025. The planned operation is an underground mine producing ferroniobium (a 65% Nb / 35% Fe alloy), titanium dioxide and scandium trioxide at the mine gate, at a planned full-production rate of approximately 7,450 tonnes of ferroniobium per year (an elevated ~7,500 tpa in the initial five years). The mineral reserve uses an average cut-off grade of 0.679% Nb2O5 at an NSR of $180/tonne and carries an average life-of-mine NSR of $563.06/tonne. The Company is advancing toward a construction decision and project financing.