Niocan Provides Update on Developments in Employment Litigation Case

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Posted on May 31, 2011

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Niocan Provides Update on Developments in Employment Litigation Case

Montreal, Quebec, May 31, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO)
announces today that it has been informed of a decision of the Quebec Court of Appeal in
favour of the appellant, a former consultant of the Company, for damages against the Company
in the amount of $172,000 plus interest, an additional indemnity and costs, for the termination of
an employment contract. The decision of the Court of Appeal reverses a judgment previously
rendered by the Superior Court of Quebec rejecting the consultant’s claim with costs. As a
result of this decision, the total exposure to the Company is estimated to be approximately
$225,000. The Company is currently assessing its appeal options.

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
514-843-4809 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.

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Published in 2011