QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments (TSX VENTURE: QRE)(PINK SHEETS: QREDF)(FRANKFURT: BR3), a junior exploration company with a focus on seeking out potentially economic deposits of niobium and rare earth elements in North America and elsewhere in the world, announced that CEO Peter Dickie was interviewed by CEOCFO, a weekly print and online publication that focuses on publicly traded companies. The interview is available at http://www.ceocfointerviews.com/interviews/QREDF-Quantum11.htm.

In the interview, it was noted that Quantum is involved in two key projects: the Elk Creek Carbonatite in Nebraska and the Archie Lake Rare Earth project in Saskatchewan, Canada, both of which Quantum has 100 percent ownership.

Elk Creek was previously explored by Molycorp, who worked on the site extensively in the 1970's and 1980's. Molycorp concluded after drilling in excess of 110 drill holes an historic resource of roughly 39 million tonnes of 0.82 pct niobium, which is considered high-grade (not an NI43-101 compliant resource). Niobium, which is used to harden steel, in green technology, and in MRI machines, is considered a strategic metal in the United States.

Quantum is currently re-analyzing available Elk Creek data and re-assaying available core, all of which will be incorporated into a new National Instrument 43-101 report expected before the end of Q1 of 2011.

Niobium is a strategic metal and is a necessary component in both the steel and aerospace industries. Niobium is a 100 percent imported commodity in the U.S.

On Behalf of the Board,

Peter Dickie, President

"Neither 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) 669-9330 (604) 669-9335 (FAX) www.QuantumRareEarth.com