QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX
VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) CEO, Peter Dickie, has provided an
update on Quantum's Elk Creek, Nebraska niobium project in an interview by GLX
Capitol Hill Report. The interview is available at
http://www.youtube.com/watch?v=Rg6CsSvqAdQ&feature=youtube.


Quantum acquired the Elk Creek site, a former Molycorp project, in 2010. Quantum
recently published a new resource estimate showing an Indicated Mineral Resource
of over 19 million tonnes grading 0.67% niobium (Nb2O5), containing over 129,000
tonnes of niobium (Nb2O5), and an Inferred Mineral Resources of over 83 million
tonnes grading 0.63% niobium (Nb2O5), containing over 523,000 tonnes of niobium
(Nb2O5), (using a 0.40% Nb2O5 cut-off grade).


There are only three primary niobium mines operating in the world today, none of
which are in the U.S., requiring the nation to import 100 percent of its needed
supply. The U.S. Geological Survey has termed Elk Creek "potentially one of the
largest sources of rare earth elements and niobium", and it is the only known
primary niobium deposit under development in the U.S.


The U.S. government has determined that rare earth elements and certain rare
metals, such as niobium, are a strategic security requirement. A key committee
of the U.S. House has recently passed legislation to accelerate the permitting
process for these rare earth and critical metals deposits in the U.S.


Dickie pointed out that niobium is essential for high-strength, low-alloy steels
in products which are expected to remain in high demand, including high-pressure
oil and natural gas pipelines, jet engines, and in applications where lighter,
stronger steel is needed. In addition to niobium needed for new pipeline
infrastructure, concerns that have arisen over the health of older pipelines
indicate that replacement may create further demand. In automotive use, niobium
strengthened steel can produce weight reductions of up to 5% in the vehicle,
yielding greater fuel savings.


Niobium is now used in approximately 10% of world steel and it is expected that
niobium use will grow to roughly 20% of world steel in coming years, Dickie
said. This includes increased intensity usage in countries such as China, who
also import 100% of their niobium, where stricter building codes are now being
implemented which will result in increased demand for high strength steel.


Cautionary note: This news release contains forward-looking statements. These
statements include, but are not limited to, statements with respect to the
completion of an updated resource estimate, the commencement of a preliminary
economic assessment study and management's expectation that the results of these
studies will confirm the potential of the Elk Creek Project. Specifically, any
statements regarding the potential increase of the Company's inferred resource
at the Elk Creek Project and the goals and objectives of the Company are by
their nature forward-looking information. 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 known and unknown risks 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. Other factors may
cause the Company's actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the statements.


Specific risk factors include risks associated with the ability obtain any
necessary approvals, waivers, consents and other requirements necessary or
desirable to permit or facilitate the development of the Company's properties,
risks associated with project development; the need for additional financing;
operational risks associated with exploration activities and results, mining and
mineral processing; environmental liability claims and insurance; reliance on
key personnel; tax consequences; and other risks and uncertainties.


The business of exploring for minerals involves a high degree of risk.

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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