Update on Niocan’s Private Placement Financing with Nio-Metals Holdings LLC

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Posted on August 05, 2011

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Update on Niocan’s Private Placement Financing with Nio-Metals Holdings LLC

Toronto, Ontario, August 5, 2011: On June 29, 2011, Niocan Inc. (“Niocan” or the
“Company”) (TSX-NIO) announced that the Company had entered into a binding term sheet
with Nio-Metals Holdings LLC (“Nio-Metals”) pursuant to which Nio-Metals has agreed to
purchase by way of private placement a minimum of 2,000 units (each, a “Unit”) and a
maximum of 4,000 Units at an issue price of $1,000 per Unit, representing aggregate gross
proceeds to the Company of a minimum of $2 million and a maximum of $4 million (the “Private
Placement”). In order to finalize transaction documentation and obtain regulatory approval, the
Company and Nio-Metals have agreed to extend the closing date to no later than August 19,
2011. The Company expects to complete the Private Placement on or before this date.

About Niocan
Niocan’s mission is to become a ferroniobium producer as soon as possible, following the
issuance of a Certificate of Authorization from the Ministry of Sustainable Development,
Environment and Parks for its Oka niobium property. Mining assets include mining rights in two
(2) properties: 48 claims covering 1604 acres as well as surface rights on 231 acres at Oka and
the Hudson Bay Great Whale Iron property covering 17,098 acres.
2000 rue Peel, bureau 760
Montréal (Québec) H3A 2W5
Tél: (514) 288-8506
Fax: (514) 843-4809

On behalf of the Board of Directors
For more information, please contact
Hubert Marleau
Interim Chairman of the Board and CEO
514-288-8506
514-843-4809 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.

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Published in 2011