NIOCORP DEVELOPMENTS LTD
For the period ended Jun 30, 2026. Filed Sep 25, 2026.
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FY2026 · Filed Sep 25, 2026
NB$2.90+7.2%Stored close · as of Nov 6, 2026
Contents
Select Mining Definitions
| 2022 S-K 1300 Elk Creek Technical Report Summary | A technical report summary for the Elk Creek Project that conforms to S-K 1300 reporting standards, with an effective date of June 30, 2022, originally filed as Exhibit 96.1 to the Company’s Annual Report on Form 10-K for the year ended June 30, 2022. |
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| 2026 NI 43-101 Elk Creek Technical Report | The CIM-compliant NI 43-101 technical report for the Elk Creek Project with an effective date of August 10, 2026. |
| 2026 S-K 1300 Elk Creek Technical Report Summary | A technical report summary for the Elk Creek Project that conforms to S-K 1300 reporting standards, with an effective date of June 30, 2026, filed as Exhibit 96.1 to this Annual Report on Form 10-K and incorporated by reference herein. |
| 2026 Elk Creek Study | A pre-feasibility study, completed in 2026, prepared by qualified persons for the Elk Creek Project. |
| carbonatite | A type of intrusive or extrusive igneous rock defined by mineralogic composition consisting of greater than 50% carbonate minerals. |
| CIM | Canadian Institute of Mining and Metallurgy. |
| cut-off grade | The grade (i.e., the concentration of metal or mineral in rock) that determines the destination of the material during mining. For purposes of establishing “prospects of economic extraction,” the cut-off grade is the grade that distinguishes material deemed to have no economic value (it will not be mined in underground mining or if mined in surface mining, its destination will be the waste dump) from material deemed to have economic value (its ultimate destination during mining will be a processing facility). Other terms used in similar fashion as cut-off grade include net smelter return, pay limit, and break-even stripping ratio. |
| deposit | A mineralized body which has been physically delineated by sufficient drilling, trenching, and/or underground work, and found to contain a sufficient average grade of metal or metals to warrant further exploration and/or development expenditures. Such a deposit does not qualify as a commercially mineable ore body or as containing reserves or ore, unless final legal, technical, and economic factors are resolved. |
| development stage issuer | An issuer that is engaged in the preparation of mineral reserves for extraction on at least one material property. |
| development stage property | A property that has mineral reserves disclosed, pursuant to Regulation S-K 1300, but no material extraction. |
| diamond drilling | A type of rotary drilling in which diamond bits are used as the rock-cutting tool to produce a recoverable drill core sample of rock for observation and analysis. |
| dysprosium or Dy | The element dysprosium (atomic number 66), a rare-earth element in the lanthanide series. |
| dysprosium oxide | The chemical compound composed of dysprosium and oxygen with the formula Dy2O3. |
| economically viable | When used in the context of mineral reserve determination, means that the qualified person has determined, using a discounted cash flow analysis, or has otherwise analytically determined, that extraction of the mineral reserve is economically viable under reasonable investment and market assumptions. |
| Elk Creek Project | The Company’s critical minerals project located near Elk Creek, Nebraska that is expected to produce niobium, scandium, titanium, and several rare earth products, including neodymium-praseodymium oxide, dysprosium oxide, terbium oxide, SEG carbonate, and heavy rare earth carbonate |
| feasibility study | A comprehensive technical and economic study of the selected development option for a mineral project, which includes detailed assessments of all applicable modifying factors, as defined under S-K 1300, together with any other relevant operational factors, and detailed financial analysis that are necessary to demonstrate, at the time of reporting, that extraction is economically viable. The results of the study may serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. |
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| (1)A feasibility study is more comprehensive, and with a higher degree of accuracy, than a pre-feasibility study. It must contain mining, infrastructure, and process designs completed with sufficient rigor to serve as the basis for an investment decision or to support project financing.(2)The confidence level in the results of a feasibility study is higher than the confidence level in the results of a pre-feasibility study. Terms such as full, final, comprehensive, bankable, or definitive feasibility study are equivalent to feasibility study. | |
| ferroniobium or FeNb | An iron-niobium alloy, with a niobium content of 60-70%. |
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| indicated mineral resource | That part of a mineral resource for which quantity and grade or quality are estimated on the basis of adequate geological evidence and sampling. The level of geological certainty associated with an indicated mineral resource is sufficient to allow a qualified person to apply modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Because an indicated mineral resource has a lower level of confidence than the level of confidence of a measured mineral resource, an indicated mineral resource may only be converted to a probable mineral reserve. |
| inferred mineral resource | That part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an inferred mineral resource has the lowest level of geological confidence of all mineral resources, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an inferred mineral resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve. |
| LoM | Life of Mine, the period from the beginning of construction to the end of mine life. |
| measured mineral resource | That part of a mineral resource for which quantity and grade or quality are estimated on the basis of conclusive geological evidence and sampling. The level of geological certainty associated with a measured mineral resource is sufficient to allow a qualified person to apply modifying factors, as defined in this section, in sufficient detail to support detailed mine planning and final evaluation of the economic viability of the deposit. Because a measured mineral resource has a higher level of confidence than the level of confidence of either an indicated mineral resource or an inferred mineral resource, a measured mineral resource may be converted to a proven mineral reserve or to a probable mineral reserve. |
| mineral reserve | An estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. |
| mineral resource | A concentration or occurrence of material of economic interest in or on the Earth's crust in such form, grade or quality, and quantity that there are reasonable prospects for economic extraction. A mineral resource is a reasonable estimate of mineralization, taking into account relevant factors such as cut-off grade, likely mining dimensions, location or continuity, that, with the assumed and justifiable technical and economic conditions, is likely to, in whole or in part, become economically extractable. It is not merely an inventory of all mineralization drilled or sampled. |
| modifying factors | The factors that a qualified person must apply to indicated and measured mineral resources and then evaluate in order to establish the economic viability of mineral reserves. A qualified person must apply and evaluate modifying factors to convert measured and indicated mineral resources to proven and probable mineral reserves. These factors include, but are not restricted to: mining; processing; metallurgical; infrastructure; economic; marketing; legal; environmental compliance; plans, negotiations, or agreements with local individuals or groups; and governmental factors. The number, type and specific characteristics of the modifying factors applied will necessarily be a function of and depend upon the mineral, mine, property, or project. |
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| NI 43-101 | National Instrument 43-101 of the Canadian Securities Administrators entitled “Standards of Disclosure for Mineral Projects” |
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| niobium or Nb | The element niobium (atomic number 41), a transition metal primarily used in the production of high-strength, low-alloy steel |
| Nb2O5 | Niobium pentoxide, a commercial form of refined niobium |
| neodymium oxide | The chemical compound composed of neodymium and oxygen with the formula Nd2O3 |
| NSR | Net Smelter Return, the net revenue that the owner of a mining property receives from the sale of the mine's products less transportation and refining costs |
| praseodymium oxide | The chemical compound composed of praseodymium and oxygen with the formula Pr2O3 |
| preliminary feasibility study(or pre-feasibility study) | A comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a qualified person has determined (in the case of underground mining) a preferred mining method, or (in the case of surface mining) a pit configuration, and in all cases has determined an effective method of mineral processing and an effective plan to sell the product.(1)A pre-feasibility study includes a financial analysis based on reasonable assumptions, based on appropriate testing, about the modifying factors and the evaluation of any other relevant factors that are sufficient for a qualified person to determine if all or part of the indicated and measured mineral resources may be converted to mineral reserves at the time of reporting. The financial analysis must have the level of detail necessary to demonstrate, at the time of reporting, that extraction is economically viable.(2)A pre-feasibility study is less comprehensive and results in a lower confidence level than a feasibility study. A pre-feasibility study is more comprehensive and results in a higher confidence level than an initial assessment. |
| probable mineral reserve | The economically mineable part of an indicated and, in some cases, a measured mineral resource |
| production stage property | A property with material extraction of mineral reserves |
| proven mineral reserve | The economically mineable part of a measured mineral resource and can only result from conversion of a measured mineral resource |
| qualified person | An individual who is:(1)A mineral industry professional with at least five years of relevant experience in the type of mineralization and type of deposit under consideration and in the specific type of activity that person is undertaking on behalf of the registrant; and(2)An eligible member or licensee in good standing of a recognized professional organization at the time the technical report is prepared. For an organization to be a recognized professional organization, it must:(i)Be either:(A)An organization recognized within the mining industry as a reputable professional association; or(B)A board authorized by United States federal, state, or foreign statute to regulate professionals in the mining, geoscience, or related field;(ii)Admit eligible members primarily on the basis of their academic qualifications and experience;(iii)Establish and require compliance with professional standards of competence and ethics;(iv)Require or encourage continuing professional development;(v)Have and apply disciplinary powers, including the power to suspend or expel a member regardless of where the member practices or resides; and(vi)Provide a public list of members in good standing. |
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| rare earth elements, rare earths or REEs | A group of 17 elements, primarily the 15 lanthanide elements. Lanthanum, cerium, praseodymium, neodymium and promethium are considered “light” REE; samarium, europium and gadolinium are often referred to as “medium” REE; while terbium, dysprosium, holmium, erbium, thulium, ytterbium and lutetium are considered “heavy” REE (“HREE”). Two additional elements, yttrium and scandium, are often classified as HREE although they are not lanthanides. Yttrium and scandium are also included in this categorization because they exhibit similar properties to the lanthanides and are found in the same ore bodies. Individual mineral deposits may not contain all REEs in economically recoverable quantities. |
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| rare earth products | Commercial rare earth products currently being examined for production by the Company, including neodymium-praseodymium oxide (sometimes referred to as didymium oxide), dysprosium oxide, and terbium oxide. These are the primary rare earths compounds used to manufacture the world’s most powerful permanent magnets. |
| relevant experience | For purposes of determining whether a party is a qualified person, that the party has experience in the specific type of activity that the person is undertaking on behalf of the registrant. If the qualified person is preparing or supervising the preparation of a technical report concerning exploration results, the relevant experience must be in exploration. If the qualified person is estimating, or supervising the estimation of mineral resources, the relevant experience must be in the estimation, assessment and evaluation of mineral resources and associated technical and economic factors likely to influence the prospect of economic extraction. If the qualified person is estimating, or supervising the estimation of mineral reserves, the relevant experience must be in engineering and other disciplines required for the estimation, assessment, evaluation, and economic extraction of mineral reserves.(1)Relevant experience also means, for purposes of determining whether a party is a qualified person, that the party has experience evaluating the specific type of mineral deposit under consideration (e.g., coal, metal, base metal, industrial mineral, or mineral brine). The type of experience necessary to qualify as relevant is a facts and circumstances determination. For example, experience in a high-nugget, vein-type mineralization such as tin or tungsten would likely be relevant experience for estimating mineral resources for vein-gold mineralization, whereas experience in a low grade disseminated gold deposit likely would not be relevant.Note 1 to Paragraph (1) of the Definition of Relevant Experience: It is not always necessary for a person to have five years' experience in each and every type of deposit in order to be an eligible qualified person if that person has relevant experience in similar deposit types. For example, a person with 20 years' experience in estimating mineral resources for a variety of metalliferous hard-rock deposit types may not require as much as five years of specific experience in porphyry-copper deposits to act as a qualified person. Relevant experience in the other deposit types could count towards the experience in relation to porphyry-copper deposits.(2)For a qualified person providing a technical report for exploration results or mineral resource estimates, relevant experience also requires, in addition to experience in the type of mineralization, sufficient experience with the sampling and analytical techniques, as well as extraction and processing techniques, relevant to the mineral deposit under consideration. Sufficient experience means that level of experience necessary to be able to identify, with substantial confidence, problems that could affect the reliability of data and issues associated with processing.(3)For a qualified person applying the modifying factors, as defined by this section, to convert mineral resources to mineral reserves, relevant experience also requires:(i)Sufficient knowledge and experience in the application of these factors to the mineral deposit under consideration; and(ii)Experience with the geology, geostatistics, mining, extraction, and processing that is applicable to the type of mineral and mining under consideration. |
| S-K 1300 | Subpart 1300 of Regulation S-K promulgated by the United States Securities and Exchange Commission |
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| scandium or Sc | The element scandium (atomic number 21), a transition metal used as an alloying agent with aluminum that provides high strength and lower weight for aerospace industry components and other applications that need lightweight metals. It also is used in the electrolyte layer of solid oxide fuel cells. |
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| Sc2O3 | Scandium trioxide, the primary form of refined scandium |
| SEG carbonate | Samarium-europium-gadolinium carbonate |
| terbium oxide | The chemical compound composed of terbium and oxygen with the formula Tb2O3 |
| titanium or Ti | The element titanium (atomic number 22), a transition metal which in its oxide form is a common pigment in paper, paint, and plastic. In its metallic form, titanium is used in aerospace applications, armor, chemical processing applications, marine hardware applications, medical implants, power generation, and in sporting goods. |
| TiCl4 | Titanium tetrachloride, an input for the production of high-purity titanium oxides and compounds |
| TiO2 | Titanium dioxide, a commercial form of refined titanium |
| TREO | Total Rare Earth Oxides, the sum of all rare earth element oxides in a mineral deposit |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.