QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") is pleased to announce that it has retained the services of Florida-based National Media Associates ("NMA"), and German-based Sigorex Management GmbH ("Sigorex") as a consultants to promote investor relations in the U.S. and Europe respectively.

About National Media Associates: Headed by Mr. George Duggan, NMA is a long-term media-relations specialist in the natural resource exploration sector. The Company will pay NMA a monthly fee of US$8,000 for the one-year term of the Agreement, but has the right to cancel the agreement after the first six months of service, and/or extend it beyond the initial term.

About Sigorex: Sigorex is a German-based investor relations company, whose Managing Director is Markus Kaempf. Sigorex's engagement is for a one-year term. In consideration for Sigorex's services, Quantum has agreed to pay an initial setup fee of EU 15,000 and a monthly fee of EU 5,000. Sigorex will assist in developing communications packages, organizing and making presentations, representing the Company at trade shows, liaising with the investment community, introducing the management of the Company to investors, and assisting in the presentation of information to those potential investors.

The Company also announces the granting of incentive stock options to the above noted parties, as well as its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 1,000,000 common shares of the Company for a period of 3 years at a price of $0.50 per share.

"With the growing appetite for quality Niobium and Rare Earth Element projects, we feel strongly that the addition of these two quality organizations will help enhance the image and awareness of Quantum within the European and U.S. capital markets," states Peter Dickie, President and CEO of Quantum.

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