NioCorp Developments Ltd. reported that the final assay analysis of its 2025 drilling program at the Elk Creek Critical Minerals Project in southeastern Nebraska is complete. The results confirm high‑grade mineralization of niobium, scandium, titanium, and rare‑earth elements across more than 7,000 core samples, validating the company’s long‑term resource model.
The assay data show consistent grades that support the company’s resource and reserve uplift efforts. By converting inferred resources into proven reserves, NioCorp moves closer to a definitive mine plan and a feasibility study that can be presented to lenders. The high‑grade results also provide the technical evidence needed to satisfy the Export‑Import Bank’s due‑diligence requirements for the $800 million debt package under consideration.
The $800 million EXIM loan is a critical financing milestone that would fund construction and bring the Elk Creek project into production. The drilling program was funded by the Department of Defense, underscoring the national‑security importance of domestic niobium and scandium supply. Securing the loan would reduce U.S. reliance on foreign imports and position NioCorp as the first domestic producer of these critical minerals.
NioCorp has maintained a record cash balance of $307 million as of December 31 2025 while reporting net losses for the three‑ and six‑month periods ending that date, reflecting heavy investment in drilling and feasibility work. The company’s commitment to SEC SK 1300 and Canada’s NI 43‑101 reporting standards, along with its vertically integrated scandium supply chain—including recent acquisition of FEA Materials—demonstrates a rigorous approach that lowers risk for investors and lenders.
Management emphasized the significance of the results: President and COO Scott Honan said the data “reflect an excellent job by our colleagues at Dahrouge in targeting the drillholes to intercept the correct geologic units in the ore zone.” CEO Mark A. Smith added that the results “are very encouraging” and that the company is “working diligently to incorporate these results into an updated mineral resource and reserve and mine plan, a key component of the updated Feasibility Study that will help the Export‑Import Bank complete its diligence.”
The assay results, combined with the company’s strategic focus on a vertically integrated supply chain and strong regulatory compliance, position NioCorp to secure the EXIM financing and advance the Elk Creek project toward construction, potentially unlocking new revenue streams and establishing the U.S. as a leading producer of niobium, scandium, titanium, and rare‑earth elements.
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