VANCOUVER,
Feb. 11, 2015 /CNW/ - NioCorp
Developments Ltd. ("NioCorp" or the "Company")
[TSX-V: NB; OTCQX: NIOBF; and FSE: BR3] is
pleased to announce it has been named in the 2015 TSX Venture 50®
as the mining sector's top performing company.
The TSX Venture 50® are the top 10 companies
listed on the TSX Venture Exchange in each of the five major
industry sectors - mining, oil & gas, technology & life
sciences, diversified industries and clean technology - selected
based on four equally weighted criteria: market capitalization
growth, share price appreciation, trading volume and analyst
coverage.
Not only was NioCorp's overall ranking highest
among mining companies, but NioCorp's 420% price increase was also
the largest percentage price increase of any TSX Venture 50®
company - over all five industry sectors.
"We are honoured to be included in this
prestigious ranking. To be the TSX Venture 50's #1 mining company
is further validation of our current growth and success. We thank
our valued employees, shareholders, board members and partners for
their important support and contributions over the past year," said
Mark Smith, Executive Chairman.
The Company is also pleased to announce it has
received conditional approval from the Toronto Stock Exchange (the
"TSX") to graduate from the TSX Venture Exchange and list
its common shares (the "Common Shares") on the
TSX.
"Over the past year, NioCorp has made
significant progress in advancing our resource estimate, and
driving the Elk Creek project
towards becoming the world's next producing Niobium mine. We just
issued a news release (February 9,
2015) updating our resource on the Elk Creek Niobium deposit. In the past three
months the Indicated tonnage has increased from 28.2 million tonnes
to 81.2 million tonnes and the indicated grade has increased from
0.63% Nb2O5 to 0.71%
Nb2O5 when compared to the September 9, 2014 Mineral Resource
estimate. Consequently, the contained
Nb2O5 in the Indicated Mineral Resource has
increased from 177 million kilograms to 578 million kilograms, an
increase of 401 million kilograms over the September 9, 2014 Mineral Resource estimate. This
represents a 187% increase in Indicated resource tonnage and a 226%
increase in Nb205," said Mr. Smith. "Our graduation to the TSX is
an important step as we broaden our investor audiences both in
Canada and abroad."
Final approval of the TSX listing is subject to
NioCorp meeting certain standard requirements of the TSX, and
raising an additional $1M in capital.
NioCorp expects to satisfy all of the requirements and will make a
further announcement once the TSX has issued a bulletin confirming
the date on which trading on the TSX will commence.
About the Company: NioCorp is
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 is announcing an NI4-101 compliant resource with an
effective date of February 6, 2015
reporting an Indicated Resource of 81.2 million tonnes grading
0.71% Nb2O5, containing 578.2 million kilograms of Nb2O5 and an
Inferred Resource of 99.8 million tonnes grading 0.56% Nb2O5,
containing 557.5 million kilograms of Nb2O5 (at a 0.3% Nb2O5
cutoff grade). 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
"Mark Smith"
________________________________
Mark Smith
Executive Chairman
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.
SOURCE Niocorp Developments Ltd.