Niocan Raises $1,080,000 by Private Placement

MONTREAL, QUEBEC, Jun 06 (MARKET WIRE) --
The board of directors of Niocan inc. (TSX: NIO) is pleased to announce
that a private placement of its shares for $1,080,000 was fully
subscribed. The transaction is subjected to, and will close two business
days following approval by the TSX.

Niocan, for this private placement, has issued 1,800,000 common shares
from its treasury, at a price of $0.60 per share. The price is a 13
percent premium from Niocan's closing share price on June 5 of 53 cents
on the TSX.

These proceeds will be added to the company's cash position and for its
future working capital needs.

Niocan is focused to obtain the Certificate of Authorization (CA) from
the Quebec Ministry of Sustainable Development, Environment and Parks
(MSDEP) for its Oka niobium mine project. Niocan's other asset is the
Great Whale iron property located 125 km North of Radisson on Inuit
territory class III and the company is actively exploring alternatives to
enhance the project and its shareholders value.

Certain information discussed in this release may constitute
forward-looking statements within the meaning of the federal securities
law. Although NIOCAN believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, these
statements are not guarantees of future performance and involve certain
risks and uncertainties, which are difficult to predict and could cause
actual results to differ materially from those projected. We do not
expect to update forward-looking statements continually as conditions
change and you are referred to the full discussion of the Company's
business contained in the Company's annual report.

Contacts:
Niocan Inc.
Hubert Marleau
Chairman of the Board of Directors
514-288-8506
514-843-4809 (FAX)
info@niocan.com

Niocan Inc.
Bernard Coulombe, P. Eng.
President, CEO
514-288-8506
514-843-4809 (FAX)
bcoulombe@niocan.com

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