Quantum CEO Renews Calls for U.S. Rare Earths Stockpile; Trade Actions Underscore Need for Strategic Program

While applauding President Obama's announcement that the U.S. is launching a
trade action against China on access to rare earth materials, Quantum Rare Earth
Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3)
(www.QuantumRareEarth.com) CEO Peter Dickie said a long-term, strategic plan
must be developed to ensure supplies of all vital strategic materials.


"The U.S. action and similar moves by the European Union and Japan are only
first steps in a lengthy World Trade Organization process," Dickie said. "Rather
than wait for an international bureaucracy, strategic action is needed now by
the U.S. to develop domestic stockpiles of rare earths and other vital
materials, just as China is reportedly doing to ensure its own economic
stability."


While China has been curtailing exports of rare earth elements, they have
recently discussed creating large stockpiles of niobium, and Chinese companies
have made investments in the largest niobium producer company in Brazil.


Among the top six items on the Materials Risk List 2011 by the British
Geological Survey, equally ranked are rare earth elements, and the strategic
metal niobium. Quantum's Elk Creek, Nebraska project is host to what the U.S.
Geological Survey has repeatedly referred to as "potentially one the largest
sources of rare earth elements and niobium", and is the only known primary
niobium deposit under development in the U.S.


Currently, worldwide production of niobium is limited to three producers
requiring the U.S. to import 100% of its needed supply. Niobium is primarily
used to produce high strength, low alloy steel, but also has irreplaceable uses,
including high-strength alloys in fighter planes, to create the steel needed for
natural gas pipelines, and in the magnets needed for MRI machines.


Quantum's Elk Creek site includes an inferred resource of 80 million tons of
0.62% niobium which equates to approximately 500 million kilograms of niobium.
Recent pricing for ferro-niobium is in the range of US$43 per kilogram, slightly
below the 2011 peak of US$46 a kilogram. Overall, the world market has been
growing in excess of 10% per year for the past decade.


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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