Quantum CEO Highlights Significant Update to Niobium Site in Nebraska Deposit Could Cut U.S. Reliance on Imports

Quantum Rare Earth Developments Corp. (TSX
VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") CEO Peter
Dickie noted in an interview with the CEONews.Tv financial news network that
Quantum's Elk Creek, Nebraska niobium project could cut U.S. dependence on
imports of the vital strategic material, based on an updated resource estimate
at the site. The interview is available at http://www.ceonews.tv/qredf/.

Dickie noted Quantum's Elk Creek niobium and rare earth elements project
contains one of North Americas' largest undeveloped niobium deposit in terms of
grade and tonnage, and the only primary niobium deposit under development in the
U.S. The updated resource shows a resource containing over 129,000 tonnes of
niobium (Nb2O5) in the Indicated category, and over 524,000 tonnes of niobium
(Nb2O5) in the Inferred category, with the deposit open in three directions.

International demand for niobium is approximately 100,000 tonnes per year,
produced exclusively from mines in Brazil and one in Canada. The U.S. imports
100% of its annual consumption of approximately 10,000 tonnes, which has led the
U.S. government to move toward establishing a strategic materials stockpile to
protect against potential supply disruptions.

Dickie emphasized the green technology uses for niobium, including production of
high-strength low-alloy (HSLA) steel, and a variety of other applications. In
addition, niobium alloys are required by the aerospace industry for
high-performance jet engines. He noted that the addition of small amounts of
niobium produces harder, lighter steel, resulting in reduced shipping costs
(through weight savings) for major infrastructure projects such as bridges and
buildings. Niobium hardened steel also cuts the weight of steel used in
automobiles, resulting in fuel economy savings. Niobium is also vital for
certain applications where it cannot be readily replaced, such as in
high-pressure natural gas and oil pipelines. In the medical field, niobium is
required in the magnets used in MRI machines.

Quantum is continuing development of the niobium deposit in Nebraska through
ongoing metallurgical testing. The Company anticipates the possibility of a
larger partner coming on board to help develop the project and perform the
material studies necessary for a final production decision that could advance
the project at a relatively rapid pace.

On April 2, 2012, Quantum announced an updated National Instrument 43-101
compliant resource estimate for the Elk Creek Niobium - REE Project, located in
southeastern Nebraska. The updated Mineral Resource Estimate, prepared by Tetra
Tech Wardrop (Tetra Tech) of Toronto, Ontario will soon be available on SEDAR
and the Company's website. For details, see
http://www.quantumrareearth.com/component/content/article/15-press-releases/151-quantum-rare-earth-developments-corp-reports-significant-update-to-resource-estimate-at-the-elk-creek.

For further information, contact the Company at (604) 568-7365, TF at (877)
385-0345 or visit www.QuantumRareEarth.com.

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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