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CENTENNIAL, CO / ACCESS Newswire / July 13, 2026 / Mark A. Smith, Executive Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), will appear on CNBC's "Squawk Box Asia" program today at 8:30 p.m. ET, hosted by Chery Kang and Sri Jegarajah.

Mr. Smith was invited on the program to discuss the outlook for the U.S. critical minerals industry, including progress toward expanding domestic production, challenges facing supply chain and economic security, and NioCorp's priorities as it advances the Elk Creek Critical Minerals Project in Nebraska.

Mr. Smith's interview will be available for replay on CNBC's website following the broadcast.

Squawk Box Asia is CNBC Asia's flagship business news program, delivering live market coverage and analysis of the business stories shaping Asia and the global economy. The program features interviews with senior business leaders, policymakers, and market experts on the issues influencing global markets and international trade.

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FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight 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 critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense 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 (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements made during the CNBC program; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp 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 that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such 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 may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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 labor 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, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; 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 the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person 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 unanticipated events.

SOURCE: NioCorp Developments Ltd.

CENTENNIAL, CO / ACCESS Newswire / April 6, 2026 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) announced voting result details from the election of directors at its 2025 Annual General Meeting (the "AGM"), held on April 6, 2026 in Denver, CO.

At the AGM, the following six nominees were elected as Directors of the Company to serve until its next annual meeting of shareholders, or until their successors are elected or appointed: Tony Fulton, Nilsa Guerrero-Mahon, Dean Kehler, Michael Maselli, Peter Oliver and Mark A. Smith.

Shareholders also voted in favor of: (i) setting the number of directors at six; (ii) appointing Deloitte & Touche LLP as the Company's auditors for the ensuing year; (iii) approving, on a non-binding, advisory basis, the compensation of the Company's named executive officers; (iv) approving the amendment and restatement of the Company's Long Term Incentive Plan; and (v) approving the amendment and extension of the Company's Shareholder Rights Plan until its 2027 AGM.

# # #

FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight 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 critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense 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, NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp 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 that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including aluminum scandium alloy; and the stability of the financial and capital markets. Such 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 may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the SEC and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to consummate the Offering; NioCorp's ability to use the net proceeds of the Offering in a manner that will increase the value of shareholders' investment; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of Defense; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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 labor 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, development, or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; 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 the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person 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 unanticipated events.

SOURCE: NioCorp Developments Ltd.

NioCorp Developments Ltd. (NB - Free Report) closed the last trading session at $5.14, gaining 4.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $11.23 indicates an 118.5% upside potential.

The average comprises three short-term price targets ranging from a low of $8.70 to a high of $15.00, with a standard deviation of $3.33. While the lowest estimate indicates an increase of 69.3% from the current price level, the most optimistic estimate points to a 191.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.

However, an impressive consensus price target is not the only factor that indicates a potential upside in NB. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why NB Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 19.3% over the past month, as two estimates have gone higher compared to no negative revision.

Moreover, NB currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much NB could gain, the direction of price movement it implies does appear to be a good guide.

State to Provide ~$200 Million in Potential Tax Incentives for NioCorp Over First 10 Years of Operations Upon NioCorp Meeting the Program's Job Creation and Investment Requirements

Signing of Legislation Supports Elk Creek Project Delivering ~450 Permanent Jobs, ~$6.59 Billion in Operating Expenses Over Project Life, and Hundreds of Millions in New State and Local Tax Revenue to Nebraska

CENTENNIAL, CO / ACCESS Newswire / April 20, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, today announced that the State of Nebraska has enacted legislation designed to give NioCorp greater flexibility in qualifying for approximately $200 million over 10 years in state tax benefits in return for NioCorp investing hundreds of millions of dollars in Nebraska and creating approximately 450 full-time equivalent jobs in the state.

Nebraska Governor Jim Pillen signed the legislation into law on April 16 after the Nebraska legislature enacted it on April 10, 2026. The bill included a range of tax incentives for businesses and projects statewide. For NioCorp, the legislation extends the period during which companies like NioCorp must meet Tier 6 Nebraska Advantage Act employment and investment requirements.

"Projects like Elk Creek don't come along often for rural Nebraska, and when they do, we need to make sure the state is doing everything it can to help them succeed," said Sen. Bob Hallstrom of Syracuse, NE. "Nebraska wants to be a place where companies invest and grow, and this legislation reinforces that commitment. For southeast Nebraska, that means hundreds of good-paying jobs and lasting economic growth for communities that have been waiting a long time for this kind of opportunity. I was proud to sponsor this provision and grateful to my colleagues and Governor Pillen for getting it across the finish line."

"If we want to grow our economy, create new high-paying, high-skill jobs, and attract the kinds of industries that generate multi-generational revenue and opportunities for our citizens, as NioCorp's Elk Creek Project promises, we need to be able to compete with other states that aggressively court these companies," said Nebraska State Senator Brad von Gillern, Chairman of the Nebraska Unicameral's Revenue Committee. "Getting a strong return on our investment from these state incentives programs is absolutely essential, and that has been my number one priority for these types of legislative initiatives. That is why I was pleased to support LB 1165 and the provisions aimed at providing more flexibility to NioCorp and other companies to grow their businesses in Nebraska."

"I want to thank Governor Pillen, Revenue Committee Chairman Brad von Gillern, Senator Hallstrom, and members of the Nebraska Unicameral for supporting this effort," said Mark A. Smith, Chairman and CEO of NioCorp. "Nebraska has stood behind the Elk Creek Project from the very beginning, and this is another clear demonstration of that commitment. The support we continue to receive from the state, from Nebraska's federal delegation, and from the communities of southeast Nebraska means a great deal to our team and strengthens our resolve to deliver on what this project promises: good-paying jobs, lasting economic growth for the region, and a reliable domestic supply of the critical minerals that American manufacturers and our national defense depend on."

Mr. Smith added: "Nebraska continues to invest its confidence in this project, and we are fully committed to delivering on that."

The signing of this legislation is the latest in a series of actions by Nebraska's state government in support of the Elk Creek Project, which is expected to create approximately ~450 permanent direct jobs in southeast Nebraska, generate significant new tax revenue for the state and its counties, and support an estimated 2,100 additional jobs throughout the broader Nebraska economy.

# # #

FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight 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 critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense 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 (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements regarding shifts in the policy environment, objectives, expectations and actions of the U.S. government; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp 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 that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such 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 may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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 labor 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, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; 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 the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person 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 unanticipated events.

Notes:

2022 Elk Creek Technical Report. Estimates account for tax benefits NioCorp expected to receive from the Nebraska Advantage program.

Additional jobs created or supported were estimated using the Economic Policy Institute's Employment Multiplier for Metal Ore Mining, https://www.epi.org/publication/updated-employment-multipliers-for-the-u-s-economy/

SOURCE: NioCorp Developments Ltd.

Key Takeaways USAR commissioned Phase 1a magnet line, targeting NdFeB output and 600 metric tons' capacity by 2026.NioCorp is advancing the Elk Creek Project, investing $44.6M and securing funding to move toward production.Both USAR and NB face rising costs, ongoing losses and dilution risks despite a strong demand outlook. USA Rare Earth, Inc. (USAR - Free Report) and NioCorp Developments Ltd. (NB - Free Report) are U.S.-based companies that are engaged in the exploration and mining of minerals and metals, primarily in North America. Both companies operate in the Zacks Mining - Miscellaneous industry.

Both companies operate in capital-intensive mining sectors with long development timelines, complex regulatory approvals and substantial investments in infrastructure and advanced technologies. However, rising demand for minerals critical to electric vehicles and renewable energy is strengthening their long-term growth outlook. Geopolitical tensions, including the Iran-Israel conflict, are further tightening global markets by disrupting supply chains and constraining oil availability.

The Case for USARUSAR has reached a key milestone with the commissioning of Phase 1a of its commercial magnet production line at its Stillwater, OK, facility. Backed by this development, the company will be able to begin fulfilling customer orders for sintered neodymium-iron-boron (NdFeB) permanent magnets starting in the second quarter of 2026.

The commissioning confirms the facility’s ability to operate a complex, multi-step manufacturing process at a commercial scale. The production process involves the transformation of rare earth and metallic elements into ultra-fine powder, refining it through jet milling in a controlled environment and then shaping, coating and magnetizing the material into NdFeB magnets. These high-performance magnets are used in defense, aerospace, automotive and other high-growth industries.

Phase 1a is expected to ramp up to an annual run rate capacity of 600 metric tons by the end of 2026. In the quarters ahead, the addition of Phase 1b is expected to double the Stillwater facility’s total capacity to 1,200 metric tons per annum by the first quarter of 2027. Once fully operational, the Stillwater facility is expected to be one of the first large-scale NdFeB magnet plants in the United States, helping strengthen the country’s domestic rare earth supply chain.

USA Rare Earth also bolstered its balance sheet through PIPE financing and warrant exercises. It is worth noting that the company completed the $1.5 billion PIPE financing in January 2026. This funding is being used to make upgrades at the Stillwater plant, expand magnet-finishing capabilities and complete Line 1b to increase total NdFeB magnet-producing capacity.

In April 2026, USAR inked a deal with InfraVia to acquire approximately a 12.5% stake in a France-based rare earth processing company, Carester SAS. Also, in the same month, the company entered into an agreement to acquire Serra Verde Group, which is the owner of Brazil-based Pela Ema rare earth mine and processing facility. The deal adds an operational rare earth mine with significant output of critical heavy rare earths like dysprosium and terbium. The transaction is anticipated to be completed in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

In March 2026, USA Rare Earth inked a deal to acquire Texas Mineral Resources Corp. in an all-stock deal worth about $73 million. This will give the company full ownership and operational control of the Round Top Project. USAR expects commercial production at Round Top to begin in 2028, with a target to process around 40,000 metric tons of rare earth and critical mineral feedstock per day by 2030. Also, USAR completed the acquisition of Less Common Metals in November 2025, which will supply critical metal and alloy feedstock for the Stillwater plant. It is worth noting that in April 2026, USA Rare Earth achieved its first commercial production of high-purity yttrium metal through Less Common Metals, marking a key step in building a rare earth supply outside China.

However, since its inception, the company has remained in the exploration and research stages, incurring losses. Amid its project development phase, USAR has been grappling with rising operational expenses, adversely impacting its margins and profitability. In fourth-quarter 2025, its selling, general and administrative expenses increased to $18.5 million from $4.5 million in the year-ago quarter due to a rise in legal & consulting costs, higher headcount & recruiting fees and other costs.

Research and development expenses rose to $7.2 million compared with $1.4 million reported in the year-ago quarter due to an increase in employee-related expenses. Elevated expenses resulted in a loss of 19 cents per share in the fourth quarter.

The Case for NioCorpNioCorp is advancing its Elk Creek Project in Nebraska toward production, targeting the extraction of niobium, scandium, titanium and rare earth elements. These critical minerals are vital for applications in electric vehicles, clean energy systems and defense technologies. In February 2026, NB started constructing the main underground portal for its Elk Creek Project, marking a shift from planning to pre-construction. The company is investing about $44.6 million in this phase and has already raised around $500 million to advance the project.

In January 2026, NioCorp signed a non-binding term sheet with Traxys to market and sell minerals from its Elk Creek Project. If finalized, Traxys would act as NB’s global marketing partner, covering nearly all planned production for the first 10 years.

In November 2025, NioCorp acquired additional land in Johnson County, NE, related to the Elk Creek Project. With the acquisition, NB currently owns a square mile of land at the site, which will be used to host both its surface processing facility and underground critical minerals mine.

Niocorp’s deal with the U.S. Department of Defense will also support its engineering and drilling activities at the site. These initiatives will facilitate NioCorp in launching the Elk Creek Project and take it to the commercial operation phase.

However, NB raised about $100 million through public offerings in February 2026 to fund its progress. Although its long-term growth initiatives hold positive, selling shares might cause its dilution, potentially having an adverse impact on earnings per share.

How Does the Zacks Consensus Estimate Compare for USAR & NB?The Zacks Consensus Estimate for USAR’s 2026 bottom line is pegged at a loss of 71 cents per share. Also, the company’s consensus estimate for the 2027 bottom line is pegged at a loss of $1.31 per share.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NB’s fiscal 2026 bottom line is pegged at a loss of 57 cents per share. Also, the company’s consensus estimate for fiscal 2027 bottom line is pegged at a loss of 45 cents per share.

Image Source: Zacks Investment Research

Price Performance and Valuation of USAR & NBIn the past year, USAR’s shares have surged 110%, while NB stock has soared 137.5%.

Image Source: Zacks Investment Research

USA Rare Earth is trading at a forward 12-month price-to-earnings ratio of negative 23.31X, while NioCorp’s forward earnings multiple sits at negative 13.04X.

Image Source: Zacks Investment Research

Final TakeUSAR recently commissioned Phase 1a of its commercial magnet production line at its Stillwater, OK, facility. The company has also strengthened its strategy through the acquisition of Less Common Metals and its planned purchase of Serra Verde Group and Texas Mineral Resources. However, despite these advances, USAR remains in an early commercial stage with rising operating and R&D expenses, which are expected to weigh on the near-term performance.

In contrast, NioCorp is advancing its Elk Creek Project with portal construction, land expansion and support from the government, moving closer to commercial production. The company has also signed a potential long-term marketing deal with Traxys North America LLC that could cover most of its output for the first 10 years.

Given these factors, NB seems a better pick for investors than USAR currently. While NioCorp sports a Zacks Rank #1 (Strong Buy) at present, USA Rare Earth has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank stocks here.

NioCorp Developments secures a 10-year non-binding offtake agreement with Traxys, validating Elk Creek's sales channel and supporting a Strong Buy rating. NB's vertically integrated, non-open-pit mining model targets six minerals, with rare earth elements and scandium purity offering significant revenue upside. NB's $419 million cash position and active $800 million EXIM debt application are pivotal for funding the $1.2 billion Elk Creek CAPEX, mitigating dilution risk.

Issued on behalf of Western Star Resources Inc.

A six-week sequence — DIBC application, Plutus mandate, CMETC-eligible flow-through financing — drops under eight months before the U.S. defense procurement cliff for Chinese tungsten

, /PRNewswire/ -- American News Group News Commentary — The tungsten market has stopped trading like a niche industrial input. Rotterdam ammonium paratungstate (APT) — the benchmark intermediate — is changing hands near US$3,185 per metric tonne unit, up roughly 350% year-to-date and approximately 900% over the trailing twelve months.[1] China still controls roughly 80% of global tungsten supply, and the U.S. Department of War's tungsten procurement cliff — codified in DFARS 252.225-7052 and effective January 1, 2027 — prohibits Chinese, Russian, Iranian, and North Korean tungsten from defense supply chains. Either new Western tungsten mines come online, or the entire downstream Western tungsten market contracts. There is no third option.

Inside that structural setup, Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) has, over a roughly six-week stretch, executed a sequence that reads less like a junior explorer's standing news flow and more like a deliberate effort to price into the reshoring trade through both U.S. defense procurement channels and the Canadian tax and listing infrastructure: a U.S. Defense Industrial Base Consortium (DIBC) application targeting tungsten, a twelve-month European investor relations mandate with Plutus Invest & Consulting GmbH commencing May 1, 2026, and a non-brokered flow-through financing eligible for the Canadian Critical Mineral Exploration Tax Credit (CMETC).[2]

The DIBC Submission, And Why Past-Producing Status Matters

On May 1, 2026, Western Star Resources announced that it had submitted its application in response to a solicitation from the U.S. Defense Industrial Base Consortium to provide the United States a reliable supply of critical minerals, focusing on tungsten (WO₃).[3]

In February 2026, the DIBC issued a new request for project proposal (RPP) focused on strategic critical minerals. The DIBC is managed by Advanced Technology International (ATI) on behalf of the U.S. Department of War (DoW), and aims to expand and diversify the defense industrial base in the U.S., enabling private-sector businesses to work in partnership with the U.S. government.[3]

The DoW has prioritized identification of supply chain alternatives for defense-critical minerals used in the production of aircraft, missiles, semiconductors, and other defense technologies.[3] Western Star's submission focuses on tungsten and is anchored to the past-producing Rowland property in the Jarbidge mining district of Nevada — a U.S. asset with documented historical production that fits the geographic profile the DoW is now actively underwriting.[2]

Past-producing status matters in the current procurement context. Brownfield assets with documented historical production face materially lower permitting complexity and shorter pathways to production than greenfield development projects. The Company has indicated that extensive historical workings are expected to classify the project as previously disturbed, which is expected to streamline the permitting process.[2] CEO and President Blake Morgan put it directly in the May 1 release: "Western Star Resources is pleased to support DIBC initiatives focusing on strategic critical minerals. Our team will be traveling to Washington in May for meetings to discuss our past-producing tungsten asset. We believe this asset offers significant upside and look forward to demonstrating its potential as we approach our maiden drill program in 2026."[3]

Rowland: Historical Grades, Skarn Geology, And A 2026 Maiden Drill Program

The Rowland property is the flagship of Western Star's portfolio — a past-producing tungsten asset located approximately 6 miles southwest of Jarbidge, Nevada. Historical Rowland production, as reported in Western Star's news releases dated November 5, 2025 and April 9, 2026, consists of 4.5 tons of ore at 3.38% WO₃ shipped in 1943, and approximately 1,000 tons of ore at 0.5–1.0% WO₃ produced from 1954–56.[2] A LiDAR review has identified over 17 historical open pits, trenches, shafts, and adits across the property.[2] The Rowland property is road accessible, and tungsten mineralization has been traced over 2 kilometres — the full length of the existing property package.[2]

Mineralization at Rowland is hosted in skarn zones up to 100 feet wide, developed along intrusive contacts, with scheelite as the primary tungsten mineral alongside molybdenite, powellite, chalcopyrite, and pyrite within a garnet-epidote skarn system.[2] On March 23, 2026, Western Star disclosed preparations to mobilize for the first modern exploration program at the past-producing Rowland Tungsten Property.[2]

The 2026 spring work program is designed to advance the project toward drill targeting and includes rock sampling of all historically disturbed areas identified through LiDAR analysis to verify historical grades and define mineralized zones.

Morgan framed the timing directly on March 23: "With the start of the spring field season coinciding with strong tungsten prices, we are ideally positioned to initiate the maiden exploration program at Rowland."[2] The Company has noted that since acquiring the project, tungsten prices have moved materially higher — a tailwind that improves both the after-tax economics of the exploration program and the institutional appetite for funding tungsten exploration capital.

The European Channel: Plutus, And A €200,000 Mandate Into Q1 2027

Alongside the DIBC submission, Western Star announced on May 1, 2026 that it had entered into a twelve-month investor relations and marketing services agreement with Plutus Invest & Consulting GmbH of Bremen, Germany, dated April 28, 2026 and commencing May 1, 2026.[3]

The services to be provided by Plutus include consultation regarding advertorial marketing and public relations strategies, and designing and implementing an advertisement-based investor awareness campaign focused on the European investment market across financial-news portals, investor newsletters, social-media platforms, paid digital advertising networks, and sponsored articles and video interviews on investor-relations portals.[3]

The Company has agreed to pay Plutus a fee of €200,000 payable on the commencement of services. The Plutus Agreement was negotiated through arm's length negotiations and terminates April 30, 2027.[3]

The European channel is a deliberate piece of the architecture. Tungsten reshoring is a U.S. policy story but the metal's industrial customer base spans Europe heavily — and the European procurement context around critical minerals supply security has moved aggressively in parallel with the U.S. policy track. The Plutus mandate positions the Company for European market awareness during the back half of 2026 and through Q1 2027 — precisely the window during which the January 1, 2027 U.S. federal procurement rule will be taking effect and Western Star's maiden drill program will be generating its first modern technical results from Rowland.[2]

CMETC Eligibility: How The Canadian Tax Architecture Subsidizes The Trade

The financing component of Western Star's recent sequence is structurally interesting. CMETC eligibility broadens the pool of Canadian investors willing to fund critical-mineral exploration by attaching enhanced after-tax economics — a 30% non-refundable tax credit on top of the standard 100% Canadian Exploration Expense (CEE) deduction — to the subscription.

The timing of WSR's financing aligns it with a recent, specific policy change: tungsten was added to the CMETC's list of eligible critical minerals on November 4, 2025 (Budget Day 25), with the expansion enacted into law when Bill C-15 (the Budget 2025 Implementation Act, No. 1) received Royal Assent on March 26, 2026.[2] The expanded list — which also added bismuth, cesium, chromium, fluorspar, germanium, indium, manganese, molybdenum, niobium, tantalum, and tin — applies to flow-through share agreements entered into after Budget Day 25 and on or before March 31, 2027.[2] Western Star's flow-through agreement, entered into in the run-up to its May 1, 2026 announcement, sits squarely inside that window.

The combination matters because it stacks three independent capital and procurement tailwinds onto the same project: U.S. defense procurement engagement through the DIBC submission, European market awareness through the Plutus mandate, and Canadian after-tax economics through the CMETC-eligible flow-through financing. Few junior tungsten explorers in 2026 are positioned across all three channels simultaneously.

Where WSR Sits Inside The Tungsten And Critical Minerals Reshoring Universe

Group 6 Metals Limited (ASX: G6M) owns and operates the Dolphin Tungsten Mine on King Island, Tasmania — described as the highest-grade tungsten deposit of significant size in the Western world, with a JORC 2012 compliant Mineral Reserve of 4.43Mt at a grade of 0.92% WO₃ and total resources of 9.6 Mt at 0.90% WO₃.[4] Group 6 has recently signed a binding three-year underground mining contract with HMR Drilling Services valued at approximately A$110–120 million for Dolphin development and production services.[5]

Group 6 also turned profitable for the first half of FY26 and announced a long-term Traxys offtake agreement promising 10,000 tonnes of WO₃ in scheelite concentrate deliveries worth a minimum US$1.75 billion over six to eight years at current APT spot prices.[6] Group 6 represents the producer-end comparable for a past-producing Western tungsten asset that has successfully redeveloped into commercial production — the precedent path Western Star's Rowland asset is now positioned to evaluate.

EQ Resources Ltd. (ASX: EQR) owns the Barruecopardo tungsten mine in Spain and the Mt Carbine tungsten mine in Northern Queensland — the largest producing tungsten mine in Australia. The Company has grown approximately 500% over the past year and trades at a valuation near A$1.5 billion as the broader tungsten reshoring trade has repriced the Western producer base aggressively.[6] EQ's management has publicly observed that current tungsten prices are not sustainable, but has indicated they expect elevated prices for three to five years given the absence of immediate major new Western supply sources.[6] EQ Resources represents the producer comparable that frames the institutional repricing of Western tungsten production capacity that is now actively underway.

NioCorp Developments Ltd. (NASDAQ: NB) is advancing the Elk Creek niobium-scandium-titanium critical minerals project in Nebraska, and represents one of the cleanest North American critical-minerals-reshoring comparables for Western Star's positioning. NioCorp priced a US$100 million public offering at US$5.00 per share on February 24, 2026, closing the offering on February 25, 2026, with Maxim Group as lead bookrunner.[7] The Company has begun excavation of its Mine Portal ($44.6 million), announced a non-binding ten-year offtake agreement with Traxys on April 9, 2026, and has a $780 million Export-Import Bank financing under consideration. NioCorp offers the broader U.S. critical minerals reshoring comparable for a small-cap, single-project exposure to a structurally undersupplied critical mineral inside the U.S. supply security framework — the same broader thesis Western Star is positioned inside on tungsten.

MP Materials Corp. (NYSE: MP) operates the Mountain Pass rare earth mine in California — the only large-scale operating rare earth mine in the Western Hemisphere — and is the highest-profile public-market expression of the broader U.S. critical-minerals-reshoring investment thesis. MP Materials has been one of the central public-market beneficiaries of the structural U.S. policy push to bring critical minerals supply chains back inside Western jurisdictions, with a market capitalization that reflects the institutional view that strategically essential critical-minerals producers operating inside U.S. borders carry a procurement and security premium that did not exist five years ago. MP Materials provides the broadest reshoring comparable for the strategic-minerals-procurement framework Western Star's Rowland program is positioned inside.

Across all four comparables, the recurring pattern is unmistakable: critical-minerals capacity inside Western jurisdictions has been repriced aggressively across 2025 and 2026, with the producers and near-producers experiencing the cleanest re-ratings, and the developers next in the queue carrying the next layer of asymmetric exposure as the procurement cliff and the tax architecture both tighten in the same direction. Western Star sits at the developer end of that spectrum with a past-producing U.S. asset, an active DIBC engagement, a European IR mandate, and a CMETC-eligible flow-through financing — all dropping inside the same eight-month window before the procurement cliff takes force.

The Window Ahead

Western Star's near-term catalyst window is well-defined. The 2026 spring field season is now in motion at Rowland, with rock sampling of historically disturbed areas underway and a maiden modern exploration program designed to advance the project toward drill targeting.[2]

The DIBC application has been filed, with Washington meetings scheduled in May to discuss the past-producing tungsten asset.[3] The Plutus mandate is live through April 30, 2027 — covering exactly the window during which the January 1, 2027 procurement rule takes effect and the first modern Rowland technical results are expected to land. The CMETC-eligible flow-through financing structure sits inside the agreement window through March 31, 2027.[2]

For investors who have read the procurement cliff, the tax architecture, the European procurement context, and the trajectory of APT prices across the past twelve months, Western Star Resources offers a small-cap exposure to a past-producing U.S. tungsten asset operating with explicit U.S. defense procurement engagement, European investor outreach, and Canadian flow-through subscription economics — all in the same window. The macro is now structural. The procurement is now compulsory by federal regulation. The capital-markets architecture is now subsidized. The question for Western Star is execution of the maiden modern drill program — and the next reads on that question arrive across the back half of 2026.

Contact
American News Group
[email protected]
604-265-2873

Article Sources

[1] https://www.globenewswire.com/news-release/2026/05/04/3286787/0/en/Western-Star-Files-Application-With-U-S-Defense-Industrial-Base-Consortium-as-Tungsten-Prices-Rip-and-the-West-Scrambles-for-Non-China-Supply.html
[2] https://www.globenewswire.com/news-release/2026/05/13/3294215/0/en/Tungsten-Is-the-Critical-Mineral-Canada-Owns-and-One-Junior-Just-Financed-Its-Way-Into-the-Reshoring-Trade.html
[3] https://finance.yahoo.com/sectors/energy/articles/western-star-resources-submits-application-114500091.html
[4] https://g6m.com.au/
[5] https://www.theglobeandmail.com/investing/markets/markets-news/Tipranks/1462788/group-6-metals-secures-110m-underground-mining-deal-for-dolphin-tungsten-project/
[6] https://stockhead.com.au/resources/tungsten-has-gone-exponential-heres-how-australian-explorers-are-taking-advantage/
[7] https://www.globenewswire.com/news-release/2026/05/04/3286787/0/en/Western-Star-Files-Application-With-U-S-Defense-Industrial-Base-Consortium-as-Tungsten-Prices-Rip-and-the-West-Scrambles-for-Non-China-Supply.html

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SOURCE Equity Insider

Beijing's Current Heavy Rare Earth Restrictions Are a Permanent Strategic Shift, Not a Temporary Bargaining Tactic, Smith Warns

Trump Administration is Moving Aggressively to Accelerate the Build-Out of Domestic Mine-to-Manufacturer Supply Chains

Industry and the Pentagon Still Face Dangerous Shortages Until the US Production Comes Online, Including NioCorp's Elk Creek Project in Nebraska

CENTENNIAL, CO / ACCESS Newswire / June 1, 2026 / FoxNews.com today published an opinion-editorial by Mark A. Smith, Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), warning that China's current export restrictions on heavy rare earth exports are not a temporary negotiating tactic but a permanent strategic decision. U.S. companies and the Pentagon face severe shortages that will not be addressed until U.S. production comes online.

The op-ed can be seen here: https://www.foxnews.com/opinion/west-still-doesnt-grasp-danger-chinas-rare-earth-endgame.

In the op-ed, Mr. Smith argues that Western leaders are misreading Beijing's intentions when they treat each new export restriction as leverage to be traded away at the next summit.

"Some Western leaders keep treating each new Chinese export restriction as a bargaining chip," Mr. Smith writes. "That is the wrong way to read what is happening. China is methodically executing a long-term economic and military plan to stop shipping these materials abroad altogether."

Heavy rare earths such as dysprosium and terbium are essential to high-performance permanent magnets that power modern jet aircraft, advanced weapons systems, and hybrid and electric vehicles. A small fraction of these elements by weight allows magnets to withstand intense heat without losing strength. These magnets, along with samarium-cobalt rare earth permanent magnets, help steer cruise missiles, point fighter-jet radars, and drive the silent propulsion in America's submarines. For more than a decade, China has been the world's near-sole supplier but Beijing effectively shut that door to Western defense companies in April of last year.

"A kilogram of dysprosium shipped abroad as a powder earns China a few hundred dollars and employs a handful of miners," Mr. Smith writes. "The same kilogram, tucked inside the motor of an electric car, helps roll a $40,000 vehicle off a Chinese assembly line." Multiplied across the millions of vehicles, wind turbines, drones, and industrial robots China exports each year, the incentive to keep the entire mine-to-magnet-to-manufacturer chain inside its borders becomes overwhelming, a strategy Beijing laid out in its Made in China 2025 blueprint.

Against that backdrop, Mr. Smith credits the Trump Administration with moving decisively to build domestic alternatives. "President Trump clearly sees where this is headed," he writes. "His Administration is working furiously to develop mine-to-manufacturer supply chains in the U.S., including the Pentagon's early investments in the domestic scandium supply chain."

Go here to see Mr. Smith's op-ed: https://www.foxnews.com/opinion/west-still-doesnt-grasp-danger-chinas-rare-earth-endgame

For more information on NioCorp and the Elk Creek Project, please visit: https://www.niocorp.com.

# # #

FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight 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 critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense 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 (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp 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 that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such 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 may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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 labor 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, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; 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 the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person 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 unanticipated events.

SOURCE: NioCorp Developments Ltd.

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

St Peter Port, Guernsey   11 June 2026

NB Private Equity Partners Limited (the “Company”) is pleased to announce that at the Annual General Meeting of its Class A Shareholders held at 2.00 p.m. on 11 June 2026, each of the Resolutions tabled were duly passed without amendment.

All resolutions as set out in the Notice of AGM, of which resolutions 1-12 were proposed as ordinary resolutions and resolutions 13-15 were proposed as special resolutions, were voted on by way of a poll and the results were as follows:

ResolutionVotes For% votes castVotes Against% votes castVotes Withheld*1. To receive the Audited Financial Statements and Directors Report for the year ended 31 December 2025.27,744,24399.984,9180.026912. To approve the Directors Remuneration Report as set out in the Annual Report for the year ended 31 December 2025.27,720,61799.9126,0060.093,2293. That the Directors’ Remuneration Policy as set out in the Notice be re-approved.27,719,66699.9028,9110.101,2754. To re-elect William Maltby as a Director of the Company.25,714,63999.7758,5990.231,976,6145. To re-elect Pawan Dhir as a Director of the Company27,735,93499.9610,7440.043,1746. To re-elect Wilken von Hodenberg as a Director of the Company.25,714,63999.7758,5990.231,976,6147. To re-elect Louisa Symington-Mills as a Director of the Company.27,739,39499.977,8110.032,6478. To elect Caroline Chan as a Director of the Company.27,740,17499.986,1500.023,5289. That KPMG Channel Islands Limited be re-appointed as auditor of the Company.27,740,49899.978,3430.031,01110. That the Directors may determine the remuneration of the auditors.27,743,18799.985,9410.0272411. That the interim dividend paid on 27 February 2026 of $0.47 per share be approved and ratified.27,581,90699.40166,1790.601,76712. That the limit on the aggregate amount paid to each Director by way of fees be increased to £550,000.0025,442,59491.692,304,9648.312,29413. That the Company be authorised in accordance with Section 315 of the Companies (Guernsey) Law, 2008 (as amended) to make market acquisitions of its ordinary shares in accordance with the terms set out in the Notice of Annual General Meeting.27,742,38599.986,2880.021,17914. That the Directors be authorised to allot and issue (or sell from treasury) equity securities for cash, up to an aggregate amount not exceeding 9.99% of the Ordinary Shares in issue.27,195,30298.01552,4791.992,07115. The name of the Company be changed to “Neuberger Private Equity Partners Limited” and the existing Memorandum and Articles of Incorporation of the Company be amended to replace all references to “NB Private Equity Partners Limited” with “Neuberger Private Equity Partners Limited”27,732,03399.9612,4320.045,387       * A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.

Ms. Trudi Clark retired from the Board upon the conclusion of the Annual General Meeting, and Ms. Chan takes the role of the Nomination and Remuneration Committee Chair and Management Engagement Committee Chair.

Change of Company Name Update

Following the passing of Resolution 15, the Company will seek to obtain the necessary regulatory approvals for the proposed change and will confirm the effective date for the change of name in due course.

For further information, please contact:

NBPE Investor Relations        +44 20 3214 9002
Luke Mason        [email protected]

Teneo        +44 (0)20 7260 2700

Tom Murray        [email protected]
Rob Yates
Jessica Pine

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger
Neuberger is an employee-owned, private, independent investment manager founded in 1939 with approximately 3000 employees across 27 countries. The firm manages $563 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm is proud to be recognized for its commitment to its two constituents, clients and employees. Again in 2025, Neuberger was named Best Asset Manager for Institutional Investors in the US (Crisil Coalition Greenwich) and the #1 Best Place to Work in Money Management (Pensions & Investments, firms with more than 1,000 employees). Neuberger has no corporate parent or unaffiliated external shareholders. Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of 31 December 2025.

This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE's investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains "forward-looking statements." Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.