2010

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NIOCAN FILES NI 43-101 TECHNICAL REPORT ON MINERAL RESOURCES FOR ITS OKA NIOBIUM PROPERTY

MONTREAL, QC, February 17, 2010 – Niocan Inc. (TSX:NIO) today announced its report on the mineral resources at its niobium property located in the Ste-Sophie range of Oka as per NI 43-101 and the CIM mineral resources classifications.

The report was prepared by Mr. Serge Lavoie, geological engineer and qualified person (QP) according to NI 43-101 rules. Mr. Lavoie was a geologist at the former St. Lawrence Columbium property in Oka when it was in operation.

Additional drilling of the main ore body at Oka, the S-60 deposit, was made by Niocan in 1995-1997 with 59 DDH, for a total of 21,976 meters. The steeply dipping cylindrical shaped deposit defined in the drilling campaign has an approximate dimension of 100m by 80m and extends 500 meters below surface. The deposit is still open at depth.

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