NIOCAN UPDATES THE OKA NIOBIUM MINE PROJECT STATUS

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Posted on August 17, 2009

MONTREAL, QC, August 17, 2009 – Niocan Inc. (TSX:NIO) today announced an update to its shareholders regarding its Oka Niobium Mine project.

Niocan continues to await the issuance of the Certificate of Authorization (“CA”) from governmental authorities to build its Niobium mine in Oka, Quebec. Niocan considers it has provided all necessary information and documentation to the authorities to receive the CA from the Ministry of Sustainable Development, Environment and Parks (“MSDEP”) of the Quebec Government. The Company last provided documents to the MSDEP in June 2008, when final documents for the review of the design and drawings of the mine complex were provided upon request from the MSDEP. In spite of the Company’s repeated attempts over the past months and years to obtain an indication from the MSDEP relative to its intent on the issuance of the CA, the Company has yet to receive conclusive information in this respect.

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Published in 2009