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 2012 Stock Option Plan, for the purchase of
up to 1,250,000 common shares of the Company for a period of 3 years at a price
of $0.20 per share.


On Behalf of the Board,

Peter Dickie, President, CEO

Cautionary note: This report contains forward looking statements. 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 risk 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. 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.

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