2 nd Quarter Update 2015 April 22, 2015 TSX: NB ; OTCQX: NIOBF - PowerPoint PPT Presentation

Strengthening our World 2 nd Quarter Update 2015 April 22, 2015 TSX: NB ; OTCQX: NIOBF & FSE: BR3

Disclaimer This presentation contains forward looking statements. These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project. Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward looking information. Resource estimates, unless specifically noted, are considered speculative. The Company has filed a National Instrument 43‐101 report on the Elk Creek Project. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, including but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements Specific risk factors include risks associated with the ability to obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties. The business of exploring for minerals involves a high degree of risk. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

Agenda Executive Summary Resource Overview Resource Development Path for Growth Investment Thesis 2

Agenda Executive Summary Resource Overview Resource Development Path for Growth Investment Thesis 3

NioCorp at a Glance Company Description Enterprise Value Calculation  (CAD$, figures in 000’s, except per share data) TSX mineral exploration and development company Share Price as of 14‐Aug‐2015 $0.82  Focused on the Elk Creek Nb/Sc/Ti project (“Elk Creek”) Basic Shares Outstanding 157,920 in southeastern Nebraska Equity Value $129,494  In August 2015 NioCorp announced the completion of Cash and Equivalents (1) $939 a Second Preliminary Economic Assessment (“PEA2”): Total Debt (1) $1,846 - 2,700 tonne per day mine production rate Enterprise Value (2) $130, 401 - 32-year operating life (1) Pro forma for loan from Mark Smith on 17-Jun-2015 - Grades of 0.80% Nb 2 O 5 , 73ppm Sc and 2.84% TiO 2 (2) Enterprise Value refers to equity value less cash plus total debt - Pre-tax NPV of US$3.07 billion One Year Share Price Performance  Share Performance in 2014: - #1 for overall market cap growth among all TSX.V mining firms (>$5M market cap) – 547% increase - #1 in share price performance among TSX.V mining firms (>$30M market cap at year end) – 420% increase - #1 in stock performance post transaction for all brokered TSX.V mining transactions – 42% increase (< $100M market cap, excludes transactions under $2.5M) Elk Creek is the highest grade Niobium resource in North America and would prospectively be the largest Scandium producer in the world 5

We’ve Assembled a Strong Management Team Mark A. Smith – Executive Chairman, President and Chief Executive Officer  Former President and CEO of Molycorp and Chevron Mining Inc.  Served on the board of Companhia Brasileira de Metalurgia e Mineracao Ltda. (“CBMM”), the largest niobium producer in the world  Currently serves as President and Chief Executive Officer of Largo Resources Ltd., along with his role at NioCorp  34 years of experience as a mining executive Neal Shah – Interim Chief Financial Officer  20 years of experience with Molycorp, Intel, Boeing and IBM  Previously served as Senior Manager of Corporate Development and M&A and Director of Strategy and Business Planning at Molycorp John F. Ashburn, Jr. – Vice President, General Counsel and Corporate Secretary  Former Executive Vice President and General Counsel of Molycorp with prior senior legal positions at Chevron and Unocal  35 years of legal experience (25 years for companies in extractive industries) Scott Honan – Vice President of Business Development  22 years of experience in base metals, gold, niobium, and rare earth mining projects  13 years with Molycorp as General Manager and Environmental Manager at the Mountain Pass, CA facility, as well as Vice President of Health, Environment, Safety and Sustainability 6

We Have a Compelling Investment Thesis Elk Creek is the  Elk Creek is the highest grade primary niobium resource in North America, one of the largest in the Premier world, and the only niobium deposit under development in the U.S.  The project includes valuable co‐product scandium trioxide and by‐product titanium dioxide Niobium Project  Approximately 85% of global supply is produced by one company leading to stable pricing at an Stable Niobium attractive level Pricing  Prices are negotiated between buyers and sellers (no spot pricing or speculation)  Niobium has a US$2‐US$3 billion per year market, growing at a 4%‐6% compound annual growth Strong Global rate Demand  Demand from a diverse array of end‐users reduces exposure to downturns in any specific sector for Niobium  Chinese demand continues to grow  Favorable Competitive Currently only three producers of niobium worldwide  No new producers since 1976 Dynamics  Elk Creek is located on privately owned lands with extensive nearby infrastructure (roads, rail, Strong Infrastructure water supply, electricity and natural gas) and Local Support  The project has strong community support as well as state and local government support  CEO Mark Smith led the development of a US$1.6 billion rare earths company in a difficult Proven jurisdiction and volatile market. Management Team  NioCorp is led by an experienced group of individuals from the mining and resources sectors as and Board well as those with local Nebraska connections 7

Agenda Executive Summary Resource Overview Resource Development Path for Growth Investment Thesis 8

Niobium Makes Steel Stronger & Lighter High Strength Low Alloy Steel (“HSLA”)  HSLA steel is stronger than traditionally manufactured steel, resulting in the same strength for a lower weight  Ferro‐vanadium is the closest potential substitute, but requires double the amount for the same strength performance and does not provide the other positive properties that ferro‐niobium does. Construction and Steel Mega Projects: 45%  HSLA for lightweight structures that require additional strength and corrosion resistance  High strength reinforcing bars require high yield strength and weldability  Significant weight savings in volume of steel needed for megaprojects. Reduced weight means reduced shipping and related costs Automotive Industry: 23% The Millau Viaduct in France was built using steel with .025% niobium. This reduced the  Stronger and lighter – improved fuel efficiency due to weight weight of the steel and concrete by 60% reductions and improved safety for passengers Source: CBMM. 9

Niobium Makes Steel Stronger & Lighter Oil and Gas Pipelines: 16%  Superior ability to withstand increased pressure and volumes over greater distances Shipbuilding: 6%  HSLA allows for lighter ships with lower fuel consumption  Adds strength and weldability Stainless Steel: 3%  Niobium reduces corrosion and improves high temperature behavior Superalloys and High Strength Q&T plate: 3%  Niobium containing alloys make up 35% of the weight of typical jet engine  MRI machines contain superconducting niobium‐titanium magnets 10

NioCorp Will Increase the Diversity of Global Niobium Supply CBMM Niobium Market Share by Producer  70% privately held company / 30% owned by various investors via purchases in 2012 6%  US$13.3 billion implied enterprise value in 2012 8% Niobec Inc. (“Niobec”) CBMM  Reported mine production of 5,200 tonnes in 2013 Niobec  Acquired by private equity‐backed Magris in early‐2015 for US$530 million Anglo Brazil 85% Anglo American Brasil Ltda (“Anglo Brazil”)  Six years of production remaining at current deposit  Capital committed to expand production to new deposit 11

Ferroniobium Product Pricing is Stable In early 2012, 30% Interest in CBMM sold in 2 transactions to Japanese/South Korean and Chinese consortiums for a combined sale price of USD $3.95 billion. Market prices for FeNb have been stable since that time. 12