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

"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, CEO 604-568-7365www.QuantumRareEarth.com

Niocorp Developments Ltd. (TSXV:QRE)
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