QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX
VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") CEO Peter
Dickie discussed the Company's plans on a recently aired GTX-TV financial news
network interview. See: http://www.youtube.com/glxwire


The U.S. imports 100% of the strategic metal, niobium, and while the U.S.
currently has no domestic source, the U.S. Geological Survey (USGS) has said
that in addition to rare earth elements (REEs), Quantum's 14-square-mile site in
Elk Creek, Nebraska may comprise the largest niobium resource in the nation.
Niobium is used as a steel hardener to produce lighter, stronger steel and due
to this weight advantage can create significant savings when used in
automobiles, natural gas pipelines, bridges and buildings. Niobium is also used
to produce super-alloys needed by the aerospace and defense industries. 


In the interview, the Quantum CEO said the next milestone for Quantum following
receipt of the current metallurgical testing and updated 43-101 resource
calculation will be an economic assessment report. He expressed confidence that
these reports would confirm the potential of the Elk Creek Niobium deposit.
These reports are part of the normal procedures necessary to establish an
economically viable operation at Elk Creek, which has the potential to provide
hundreds of jobs both direct and indirect, as well as a sought after domestic
supply of the strategic metal niobium. 


The U.S. has shown increasing interest in niobium and rare earth elements.
Niobium is subject to strategic stockpiling, along with rare earth elements,
under legislation in Congress. In addition, the USGS recently included Quantum's
Elk Creek site in a federally funded research project conducted by the
University of Colorado and the University of Nebraska-Lincoln on mineral
resources that are vital to the economy, national security, and land-use
decisions. 


Cautionary note: This news release contains forward looking statements. These
statements include, but are not limited to, statements with respect to the
completion of an updated resource estimate, the commencement of a preliminary
economic assessment study and management's expectation that the results of these
studies will confirm the potential of the Elk Creek Project. Specifically, any
statements regarding the potential increase of the Company's inferred resource
at the Elk Creek Project and the goals and objectives of the Company are by
their nature forward looking information. Resource estimates, unless
specifically noted, are considered speculative. The Company has filed a National
Instrument 43-101 report on the Elk Creek Project. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. By
their nature, forward looking statements involve known and unknown risks and
uncertainties because they relate to events and depend on factors that will or
may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Other factors may
cause the Company's actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the statements. 


Specific risk factors include risks associated with the ability obtain any
necessary approvals, waivers, consents and other requirements necessary or
desirable to permit or facilitate the development of the Company's properties,
risks associated with project development; the need for additional financing;
operational risks associated with exploration activities and results, mining and
mineral processing; environmental liability claims and insurance; reliance on
key personnel; tax consequences; and other risks and uncertainties. 


The business of exploring for minerals involves a high degree of risk. 

Cautionary Note to US investors: The U.S. Securities and Exchange Commission
specifically prohibits the use of certain terms, such as "reserves" unless such
figures are based upon actual production or formation tests and can be shown to
be economically and legally producible under existing economic and operating
conditions.

Niocorp Developments Ltd. (TSXV:QRE)
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