QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX
VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3)(www.QuantumRareEarth.com) CEO Peter
Dickie said the company is extremely pleased that the U.S. Geological Survey
(USGS) has included Quantum's Elk Creek, Nebraska rare earth elements (REE) site
in a federally funded research project on mineral resources that are important
to the economy, national security, and land-use decisions.


"USGS has stated that in addition to REEs at Elk Creek, the site may contain the
largest niobium resource in the U.S.," Dickie said. "It's an honor for Elk Creek
to have been selected as the subject of one of five research grants from USGS
under the 2012 USGS Mineral Resources External Research Program (MRERP)." 


Quantum looks forward to cooperating with the grant recipients. Quantum has been
testing historic and recent core samples at Elk Creek, including historic
samples that were stored at the University of Nebraska-Lincoln. The principal
scientists for the research will be Lang Farmer of the University of Colorado
and Matt Joeckel and Richard Kettler of the University of Nebraska-Lincoln. They
were selected from among other applicants for MRERP funding from academia, state
agencies, private sector organizations and other scientists. 


The USGS grant announcement stated, "The University of Colorado and the
University of Nebraska-Lincoln will conduct a collaborative research project to
examine the age and origin of the REE resources of the Elk Creek deposit in
southeastern Nebraska by investigating previously collected drilling core. The
Elk Creek REE deposit is found in a rare carbonate-rich igneous rock known as
carbonatite. In addition to REEs, the Elk Creek carbonatite may comprise the
largest niobium resource in the United States. Niobium is primarily used as an
alloying element in steels and superalloys, such as materials used in high
performance aircraft. This research is expected to yield data and information
that will advance exploration and assessment models for similar REE deposits."


The total amount of the five MRERP grants from USGS is more than $260,000. For
additional details, see http://www.usgs.gov/newsroom/article.asp?ID=3082


"Although the US is currently dependent on foreign imports for our supply of
rare earths and other critical elements that are essential for the high tech
industry, our nation is actually rich in deposits of these valuable minerals,"
explained USGS Director Marcia McNutt. "The Mineral Research Grants help provide
the basic research foundation to better develop our domestic resources and thus
become less dependent on foreign imports."


On Behalf of the Board,

Peter Dickie, President

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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