NioCorp Investor Presentation Deck
Class
Indicated
Class
Inferred
Elk Creek 2022 In Situ Mineral Resource Estimate (rare earth oxides) excluding reserves
Tonnage (Mt)
La203 (%)
0.0766
Nd₂03 (%)
0.0511
Gd203 (%)
0.0096
Ho203 (%)
0.0006
Yb203 (%)
0.0010
LREO (%)
0.2737
La203 (kt)
116.2
Nd₂O3 (kt)
77.5
Gd203 (kt)
14.6
Ho203 (kt)
1.0
Yb203 (kt)
1.5
LREO (kt)
415.2
Ce203 (%)
0.1320
Sm₂03 (%)
0.0116
Tb203 (%)
0.0011
Er203 (%)
0.0015
Lu203 (%)
0.0001
HREO (%)
0.0528
Pr203 (%)
0.0140
Eu₂O3 (%)
0.0040
Dy203 (%)
0.0044
Tm203(%)
0.0002
Y203 (%)
0.0187
TREO (%)
0.3265
NSR Cut-off
180
NSR Cut-off
180
151.7
NioCorp
Critical Mineral Security
Tonnage (Mt)
108.3
Elk Creek S-K 1300 REE Mineral Resource¹
(MINERAL RESOURCE AS OF JUNE 30, 2022)
La203 (%)
0.0943
Nd₂03 (%)
0.0575
Gd203 (%)
0.0090
Ho203 (%)
0.0006
Yb203 (%)
0.0010
LREO (%)
0.3257
La203 (kt)
102.1
Nd₂O3 (kt)
62.2
Gd203 (kt)
9.8
Ho203 (kt)
0.7
Yb203 (kt)
1.1
LREO (kt)
352.6
Ce203 (%)
0.1576
Sm₂03 (%)
0.0116
Tb203 (%)
0.0010
Er203 (%)
0.0014
Lu203 (%)
0.0001
HREO (%)
0.0512
Ce203 (kt)
200.2
Sm₂03 (kt)
17.6
Tb203 (kt)
1.6
Er203 (kt)
2.2
Lu203 (kt)
0.2
HREO (kt)
80.0
Ce203 (kt)
170.6
Sm₂O3 (kt)
12.6
Tb203 (kt)
1.1
Er203 (kt)
1.5
Lu203 (kt)
0.1
HREO (kt)
55.5
Pr203 (%)
0.0163
Eu₂O3(%)
0.0038
Dy203 (%)
0.0042
Tm203(%)
0.0002
Y203 (%)
0.0182
TREO (%)
0.3769
Pr203 (kt)
21.3
Eu₂O3 (kt)
6.0
Dy203 (kt)
6.7
Tm203 (kt)
0.3
Y203 (kt)
28.4
TREO (kt)
495.2
Pr203 (kt)
17.7
Eu₂O3 (kt)
4.1
Dy203 (kt)
4.6
Tm203 (kt)
0.2
Y203 (kt)
19.7
TREO (kt)
408.1
NOTE: The Qualified Person for the Mineral Resource estimate is Understood Mineral Resources Ltd. The estimate has an effective date
of June 30, 2022.
Notes:
a. Classification of Mineral Resources in the above tables is in accordance with the S-K 1300
classification system. Mineral Resources in this table are reported exclusive of Mineral
Reserves
b. Mineral Resources that are not Mineral Reserves do not have demonstrated economic
viability.
C. The Mineral Resources are reported at a Diluted Net Smelter Return (NSR) Cut-off of US
$180/tonne.
d. The diluted NSR is defined as:
e.
f.
g.
h.
j.
●
k.
Diluted NSR (U.S. $) =
Revenue per block Nb₂05 (diluted) + Revenue per block Tio2 (diluted) + Revenue per block Sc (diluted)
Diluted tonnes per block
The diluted revenue from Nb₂O5, TiO2, and Sc per block used the following factors:
Nb₂O5 Revenue: a 94% grade recovery, a 0.696 factor to convert Nb₂05 to Nb,
82.36% assumption for plant recovery, and a US$ 39.60 selling price per kg of
ferroniobium as of June 30, 2022.
●
i. The stated Heavy Rare Earth Oxides (HREO) grade (%) is the summation of Sm₂03 (%),
Eu 203 (%), Gd₂03 (%), Tb₂O3 (%) , Dy2O3 (%) , Ho₂O3 (%), Er₂O3 (%), Tm₂O3 (%), Yb2O3 (%),
Lu₂03 (%), and Y₂O3 (%) estimates.
• TiO₂ Revenue: a 94% grade recovery, a 40.31% assumption for plant recovery,
and a US$ 0.88 selling price per kg of titanium oxide as of June 30, 2022.
Sc Revenue: a 94% grade recovery, a 1.534 factor to convert Sc to Sc₂O3,
93.14% assumption for plant recovery, and a US$ 3,675 kg selling price per kg
of scandium oxide as of June 30, 2022.
The diluted tonnes are a 6% increase in the total tonnes of the block.
Price assumptions for FeNb, Sc₂O3, and TiO₂ are based upon independent market
analyses for each product.
Numbers may not sum due to rounding. The rounding is not considered to be material.
Rare Earth Oxides (REO) were evaluated as a potential by-product to mining of
niobium, titanium, and scandium; thus the estimated values of the REOS are reported using
the previously determined diluted NSR as derived from the Nb₂O5, TiO2, and Sc Mineral
Resources and are assigned a price of $0.
The stated Light Rare Earth Oxides (LREO) grade (%) is the summation of La₂O3 (%) , Ce₂O3
(%), Pr₂O3 (%), and Nd₂O3 (%) estimates.
The stated Total Rare Earth Oxide (TREO) grade (%) is the summation of LREO (%) and
HREO (%)
The effective date of the Mineral Resource, including by-products, is June 30, 2022
Based on the S-K 1300 Elk Creek Technical Report Summary. See "Mineral Reserves and Resources" in the Disclaimers & Technical Disclosures at the beginning of this presentation.
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