QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 325,000 common shares of the Company for a period of 3 years at a price of $0.30 per share.

Quantum Rare Earth Developments Corp., based in Vancouver, British Columbia, is an exploration company with a focus on seeking out potential economic deposits of niobium and rare earth elements in North America and elsewhere in the world.

On Behalf of the Board,

Peter Dickie, President, CEO

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contacts: Quantum Rare Earth Developments Corp. Peter Dickie President and CEO (604) 568-7365 (604) 568-7506 (FAX) www.QuantumRareEarth.com