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 arranged, subject to regulatory approval, a non-brokered
private placement consisting of up to 10,000,000 units (the "Units") at a price
of $0.15 per Unit for gross proceeds of up to $1,500,000.


Each Unit will consist of one common share and one-half of one common share
purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one
common share at a price of $0.25 per common share for a period of 24 months from
the Closing Date.


Proceeds of the private placement will be used to advance the Elk Creek
Carbonatite project and for general working capital.


Finders' fees may be pay able in cash, shares or warrants with respect to
certain private placement subscribers and in accordance with the policies of the
TSX Venture Exchange.


On Behalf of the Board,

Peter Dickie, President, CEO

Niocorp Developments Ltd. (TSXV:QRE)
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