UPDATE REGARDING NIOCAN’S SHAREHOLDER RIGHTS PLAN

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Posted on January 24, 2011

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UPDATE REGARDING NIOCAN’S SHAREHOLDER RIGHTS PLAN

Toronto, Ontario, January 24, 2011: Niocan Inc. (“Niocan” or the “Company”) (TSX-NIO)
announces that it has been notified by the Toronto Stock Exchange (the “TSX”) that the TSX will
defer consideration of the acceptance of the shareholder rights plan of Niocan (the “Rights
Plan”) until such time as the TSX is satisfied that the appropriate securities commission will not
intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics. Pursuant to
TSX policies, the TSX automatically defers acceptance of shareholder rights plans adopted in
response to a specific take-over bid. Even though the TSX has deferred its review of the Rights
Plan, the Rights Plan remains in effect. A copy of the Rights Plan is available at
www.sedar.com.


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.


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