NB News & Events

Congressman Adrian Smith officially launched excavation last week of the Elk Creek Critical Minerals Project mine portal during a tour and briefing on the project with county and local Nebraska officials. Congressman Smith is the senior member of the powerful U.S. House Ways and Means Committee, which has jurisdiction over federal tax and trade policy, has been a longstanding supporter of efforts aimed at strengthening domestic critical mineral supply chains and has introduced legislation to provide tax benefits to U.S. producers of rare earth elements and scandium, which NioCorp Developments Ltd. intends to produce at the project. Congressman Smith and local officials were briefed on the project's pre-construction work last week by senior NioCorp management. During a tour, Congressman Smith operated a 117-ton excavator to start the first official excavation of the mine's portal, which will establish the primary access point to the planned underground mine. Nebraska-based Gana Trucking and Excavating is performing the mine portal construction. "I appreciated the opportunity to visit the Elk Creek Project," said Congressman Smith. "Projected to create over 400 jobs and generate more than $600 million in state and local tax revenue, this project will provide long-term economic opportunity while cementing Nebraska's role in securing a reliable domestic supply of critical minerals. In Congress, I will continue to support efforts like this to ensure that Nebraska remains a leader."

NioCorp Developments announced that construction of the main access to the underground portion of the Company's Elk Creek Critical Minerals Project in southeast Nebraska has now begun. With detailed engineering well underway and construction equipment mobilized to the project site near Elk Creek, Nebraska, NioCorp has launched an approximately $44.6 million effort to construct the mine's main entrance, known as a "portal," that will serve as the primary access point for personnel, equipment, and materials. The portal will also be used to deliver ore from the underground mine to the surface production plant. The Company also filed a formal "Notice of Commencement" with the Mine Safety and Health Administration in conjunction with this effort.

NioCorp Developments announced the pricing of its public offering in the United States. The Offering is expected to consist of up to 20,000,000 common shares at a public offering price of $5.00 per common share, for gross proceeds that are expected to be approximately $100.0 million before deducting placement agent fees and offering expenses. Maxim Group is acting as sole placement agent for the Offering. The Offering is expected to close on or about February 25, 2026, subject to the satisfaction of customary closing conditions.