<SEC-DOCUMENT>0001539497-22-001714.txt : 20221028
<SEC-HEADER>0001539497-22-001714.hdr.sgml : 20221028
<ACCEPTANCE-DATETIME>20221028160104
ACCESSION NUMBER:		0001539497-22-001714
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20221028
DATE AS OF CHANGE:		20221028

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NIOCORP DEVELOPMENTS LTD
		CENTRAL INDEX KEY:			0001512228
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55710
		FILM NUMBER:		221341793

	BUSINESS ADDRESS:	
		STREET 1:		7000 S. YOSEMITE STREET
		STREET 2:		STE. 115
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		720-639-4647

	MAIL ADDRESS:	
		STREET 1:		7000 S. YOSEMITE STREET
		STREET 2:		STE. 115
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	QUANTUM RARE EARTH DEVELOPMENTS CORP.
		DATE OF NAME CHANGE:	20110204
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>n2574_x59-defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Washington,
DC 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SCHEDULE
14A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proxy
Statement Pursuant to Section 14(a)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">of
the Securities Exchange Act of 1934 (Amendment No. ___)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filed
by the Registrant &#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filed
by a Party other than the Registrant &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Check
the appropriate box:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Preliminary
Proxy Statement</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">&#9744;</TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Definitive
Proxy Statement</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">&#9746;</TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Definitive
Additional Materials</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting
Material under &sect;240.14a-12</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NIOCORP
DEVELOPMENTS LTD.</B><BR>
(Name of Registrant As Specified In Its Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable.</B><BR>
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Payment of Filing Fee (Check the appropriate
box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0.5in">&#9746;</TD>
    <TD STYLE="text-align: justify">No
fee required.</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&#9744;</TD>
    <TD STYLE="text-align: justify">Fee
paid previously with preliminary materials.</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&#9744;</TD>
    <TD STYLE="text-align: justify">Fee
computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



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<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="defa14a-img_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">NOTICE-AND-ACCESS NOTIFICATION</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">Important Notice Regarding the Availability
of Proxy Materials for the Annual General Meeting of Shareholders to Be Held on December 15, 2022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 1pt 12pt; text-align: left; text-indent: 0in; background-color: transparent"><FONT STYLE="background-color: white">Dear
Shareholder:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 1pt 12pt; text-align: justify; text-indent: 0in; background-color: transparent"><FONT STYLE="background-color: white">You
are receiving this Notice-and-Access Notification because NioCorp Developments Ltd. (the &quot;Company&quot;) has decided to use the notice-and-access
model for delivery of meeting materials for its 2022 Annual General Meeting (the &quot;Meeting&quot;) to its registered shareholders and
Canadian and United States beneficial shareholders. This Notice-and-Access Notification regarding the Meeting is prepared pursuant to
the notice-and-</FONT>access rules that came into effect on February 11, 2013 under National Instrument 54-101 - <FONT STYLE="font-variant: normal; font-weight: normal; letter-spacing: 0pt; background-color: white"><I>Communication
with Beneficial Owners of Securities of a Reporting Issuer,</I></FONT> <FONT STYLE="background-color: white">National Instrument 51-102
- <FONT STYLE="font-variant: normal; font-weight: normal; letter-spacing: 0pt"><I>Continuous Disclosure Obligations</I></FONT> and Rule
14a-16 under the United States Securities Exchange Act of 1934, as amended. Under the notice-and-access method of distribution, instead
of paper copies of the Notice of Meeting, Management Information and Proxy Circular (the &quot;Information Circular&quot;), 2022 Annual
Report and form of proxy (the &ldquo;Proxy&rdquo; and, together with the Notice of Meeting, the Information Circular and the 2022 Annual
Report, the &quot;Meeting Materials&quot;), shareholders receive this Notice-and-Access Notification with information on how they may
access such materials electronically. The use of this alternative means of delivery is more environmentally responsible as it will help
reduce paper use and the cost of printing and mailing materials to shareholders. This communication is not a form for voting and presents
only an overview of the more complete information in the Meeting Materials, which contain important information and can be accessed online
or requested by mail as provided below. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 1pt 12pt; text-align: justify; text-indent: 0in; background-color: transparent"><FONT STYLE="background-color: white">The
Company has elected not to use the procedure known as &quot;stratification&quot; in relation to its use of the notice-and-access rules.
Stratification occurs when a reporting issuer using the notice-and-access rules provides a paper copy of proxy-related materials to some,
but not all, of its shareholders.</FONT></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 4.5pt">MEETING DATE AND LOCATION</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-left: 0.75in; font-size: 10pt; text-indent: -0.75in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">WHEN:&#9;</FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Thursday, December 15, 2022<BR>
10:00 a.m. Mountain Time</FONT></TD>
    <TD STYLE="text-align: left; width: 10%; padding-bottom: 12pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">WHERE:</FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7000 S. Yosemite Street<BR>
Lower Level Conference Room<BR>
 Centennial, Colorado, 80112</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.8pt 12pt 7.75pt; text-align: justify; text-indent: 0.05pt"><BR STYLE="clear: both">
Only shareholders who own common shares of the Company at the close of business on the record date of October 20, 2022 may vote at the
Meeting or any adjournment or postponement of the Meeting. The purposes of the Meeting are:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Financial Statements</B>: Shareholders will receive and consider the audited
financial statements of the Company for the year ended June 30, 2022, together with the auditor&rsquo;s report thereon. Information can
be found in the &ldquo;Financial Statements&rdquo; section of the Information Circular.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Fixing Number of Directors:</B> Shareholders will be asked to set the number
of directors of the Company at seven (7). Information can be found in the &ldquo;Particulars of Matters to Be Acted Upon &ndash; I and
II &ndash; Number and Election of Directors&quot; section of the Information Circular. <B>The Company&rsquo;s management recommends a
vote &ldquo;FOR&rdquo; fixing the number of directors of the Company at seven (7).</B></TD></TR></TABLE>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center"><B>NioCorp Developments Ltd. </B>(TSX: NB | OTCQX: NIOBF | FSE: BR3)</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center">7000 South Yosemite, Suite 115, Centennial, Colorado 80112 USA Tel: 720-639-4650</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notice-and-access notification to shareholders for NioCorp&rsquo;s</FONT></TD><TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual General Meeting of Shareholders on December 15, 2022</FONT></TD><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Election of Directors:</B> Shareholders will be asked to elect seven (7) directors
for the ensuing year. Information can be found in the &ldquo;Particulars of Matters to Be Acted Upon &ndash; I and II&ndash; Number and
Election of Directors&quot; section of the Information Circular. <B>The Company&rsquo;s management recommends a vote &ldquo;FOR&rdquo;
each of the nominees for director named in the Proxy.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Appointment of Independent Auditors:</B> Shareholders will be asked to appoint
BDO USA, LLP as auditors of the Company to hold office until the next annual general meeting and to authorize the Board of Directors to
fix their remuneration through the Audit Committee. Information can be found in the &ldquo;Particulars of Matters to Be Acted Upon &ndash;
III &ndash; Appointment of Auditors&rdquo; section of the Information Circular. <B>The Company&rsquo;s management recommends a vote &ldquo;FOR&rdquo;
(i) the appointment of BDO USA, LLP as the auditors of the Company and (ii) the authorization of the Board to fix their remuneration through
the Audit Committee.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Say-on-Pay:</B> Shareholders will be asked to approve, on a nonbinding, advisory
basis, the compensation of the Company&rsquo;s named executive officers. Information can be found in the &ldquo;Particulars of Matters
to Be Acted Upon &ndash; IV &ndash; Advisory Vote to Approve Named Executive Officer Compensation (&lsquo;Say-on-Pay Proposal&rsquo;)&rdquo;
section of the Information Circular. <B>The Company&rsquo;s Board of Directors recommends a vote &ldquo;FOR&rdquo; the resolution approving
the compensation of the Company&rsquo;s named executive officers.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Say-on-Frequency: </B>Shareholders will be asked approve, on a nonbinding, advisory
basis, the frequency of future shareholder advisory votes to approve the compensation of the Company&rsquo;s named executive officers.
Information can be found in the &ldquo;Particulars of Matters to Be Acted Upon &ndash; V &ndash; Advisory Vote to Approve the Frequency
of Shareholder Advisory Votes to Approve Named Executive Officer Compensation (&lsquo;Say-on-Frequency Proposal&rsquo;)&rdquo; section
of the Information Circular. <B>The Company&rsquo;s Board of Directors recommends a vote in favor of the option &ldquo;EVERY YEAR&rdquo;
as the preferred frequency with which the Company should conduct future shareholder advisory votes to approve named executive officer
compensation.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt"><B>Other Business:</B> Shareholders may be asked to consider other items of business
that may be properly brought before the Meeting. Information respecting the use of discretionary authority to vote on any such other business
can be found in the &quot;Information About Proxies&quot; section of the Information Circular.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">SHAREHOLDERS ARE REMINDED TO ACCESS AND REVIEW THE MEETING MATERIALS
PRIOR TO VOTING</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.85pt 12pt 0; text-align: justify">The Meeting Materials can be viewed
online under the Company&rsquo;s SEDAR profile at <FONT STYLE="color: blue"><U>www.sedar.com</U></FONT>, or on the Company&rsquo;s website
at <FONT STYLE="color: blue"><U>https://www.niocorp.com/investor-center/annual-meetings/</U></FONT> for up to one year from the date
of this Notice-and-Access Notification.</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center"><B>NioCorp Developments Ltd. </B>(TSX: NB | OTCQX: NIOBF | FSE: BR3)</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center">7000 South Yosemite, Suite 115, Centennial, Colorado 80112 USA Tel: 720-639-4650</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notice-and-access notification to shareholders for NioCorp&rsquo;s</FONT></TD><TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual General Meeting of Shareholders on December 15, 2022</FONT></TD><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">HOW TO OBTAIN PAPER COPIES OF THE MEETING MATERIALS</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">You can obtain a paper copy of the Meeting Materials, free of charge,
by providing your name and mailing address to the Company in one of the following manners:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify; padding-right: 0.1in">Calling the Company toll free at (855) 264-6267;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.1in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Contacting
the Company via email at <FONT STYLE="color: blue"><U>IR@NioCorp.com</U></FONT>; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 18pt">3.</TD><TD STYLE="text-align: justify; padding-right: 0.1in">Sending a request to the Company&rsquo;s headquarters at: NioCorp Developments Ltd.,
7000 South Yosemite Street, Suite 115, Centennial, CO 80112, ATTN: Corporate Secretary.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.8pt 12pt 0; text-align: justify">Requests may be made up to one (1) year
from the date the Information Circular was filed on SEDAR, but requests should be received by the Company at least five (5) business days
in advance of December 13, 2022, being the proxy cut-off date for voting at the Meeting, in order to receive the Meeting Materials in
advance of the proxy cut-off date for the Meeting. If you do not request paper copies of the Meeting Materials, they will not otherwise
be provided to you.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.8pt 12pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If
interested, you may attend the Meeting in person. Directions to attend the Meeting where registered shareholders may vote in person can
be found on our website at </FONT><FONT STYLE="color: blue"><U>https://www.niocorp.com/investor-center/annual-meetings/</U></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">.
</FONT></P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center"><B>NioCorp Developments Ltd. </B>(TSX: NB | OTCQX: NIOBF | FSE: BR3)</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center">7000 South Yosemite, Suite 115, Centennial, Colorado 80112 USA Tel: 720-639-4650</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notice-and-access notification to shareholders for NioCorp&rsquo;s</FONT></TD><TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual General Meeting of Shareholders on December 15, 2022</FONT></TD><TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">VOTING</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.8pt 12pt 0; text-align: justify">PLEASE NOTE &ndash; YOU CANNOT VOTE BY
RETURNING THIS NOTICE-AND-ACCESS NOTIFICATION. To vote your securities, you are asked to return your proxy using one of the following
methods not later than 10:00 a.m. Mountain Time, on December 13, 2022, being the proxy cut-off date for the Meeting:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.65pt 12pt 0.5in; text-align: justify"><B><U>REGISTERED HOLDERS</U></B>
are asked to return their proxy using the following methods by the proxy deposit date noted on your proxy:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 76.5pt"></TD><TD STYLE="width: 80pt">INTERNET:</TD><TD STYLE="padding-right: 0.25in">&#9;<FONT STYLE="color: blue"><U>www.investorvote.com</U></FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 76.5pt"></TD><TD STYLE="width: 80pt">TELEPHONE:</TD><TD STYLE="padding-right: 0.25in">1-866-732-VOTE (8683), toll free within North America, or<BR>
1-312-588-4290, Direct Dial &ndash; International</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 76.5pt"></TD><TD STYLE="width: 80pt">MAIL:</TD><TD STYLE="padding-right: 0.25in">Computershare Investor Services Inc., Proxy Dept

<BR>
100 University Avenue, 8th Floor

<BR>
Toronto, Ontario, CANADA M5Y 2Y1</TD></TR>
</TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 156.95pt 0 77.05pt; text-indent: -1.2in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 6.95pt 12pt 0.5in; text-align: justify"><B><U>ALL NON-REGISTERED HOLDERS</U></B>
should follow the instructions on the Voting Instruction Form that was sent to you.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">QUESTIONS</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Shareholders with questions about notice-and-access
can contact the Company (from the U.S. or Canada) through its toll-free number at (855) 264-6267, or (from other countries) at (720) 639-4647,
or via <FONT STYLE="background-color: white">email at </FONT><FONT STYLE="color: blue"><U>IR@niocorp.com</U></FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center"><B>NioCorp Developments Ltd. </B>(TSX: NB | OTCQX: NIOBF | FSE: BR3)</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: center">7000 South Yosemite, Suite 115, Centennial, Colorado 80112 USA Tel: 720-639-4650</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
