QRE Niocorp Developments Ltd.

The Risk List 2011, a new report by the British Geological Survey, is being cited by Quantum Rare Earth Developments Corp. CEO Peter Dickie (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) as further evidence that the world needs more sources of rare earth and strategic metals in secure locations. The Risk List 2011 demonstrates that the concentration of elements and production which are vital to key industries is present in a small number of countries, including China.

"Once again, a major governmental authority is sounding an alarm that the supply is not secure for the materials required to sustain the economies, security, and lifestyle of modern, industrial societies," Dickie said. "The Risk List affirms warnings on rare earths and strategic metals, like Niobium, that have been sounded in the U.S. We need to develop and stockpile these materials as soon as possible to avoid the potential risk of supply disruptions or price hikes that are inherent in single supply, or limited supply sourcing."

The Risk List 2011 takes into account not only "the abundance of elements in the Earth's crust", but also, "the location of current production and reserves, and the political stability of those locations. The restricted supply base combined with the relatively low political stability ratings for some major producing countries, significantly increase risk to supply," the Risk List concludes.

Near the top of the Risk List 2011, ranked equally with rare earth elements, is the vital strategic metal Niobium. Currently, over 90% of world production of Niobium is limited to Brazil. Niobium has a range of strategic industrial uses, including high-strength alloys in fighter planes and natural gas pipelines. Quantum has determined a large inferred resource of Niobium located at Elk Creek, Nebraska. Quantum has also drilled substantial intercepts of four primary rare earth elements elsewhere on its 14-square mile site at Elk Creek, including lanthanum, cerium, praseodymium and neodymium.

The Risk List 2011 is available at http://www.bgs.ac.uk/mineralsuk/statistics/riskList.html. The British Geological Survey is responsible for advising the UK government on all aspects of geoscience as well as providing impartial geological advice to industry, academia and the public.

On Behalf of the Board,

Peter Dickie, President, CEO

Cautionary note: This report may contain forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Archie Lake property, on the Elk Creek Carbonatite property, and intends to file additional NI 43-101 reports on additional properties as soon as the information is available. 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.

"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. (604) 568-7365www.QuantumRareEarth.com

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