QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") announces that the Company has been profiled in the April issue of the KonLin Letter, an independent New York-based investment newsletter published by KonLin Research & Analysis. The investment letter cited the demand for REEs, a group of 17 elements with properties that make them extremely attractive for use in a vast range of high tech applications and how Quantum is in the process of exploring its mineral properties in mining-friendly locations in the U.S., Canada and Australia. (A copy of the profile can be obtained by emailing: newsletter@konlin.com; or by calling 631-744-8536.)

The KonLin Letter recognized that today China produces over 97% of the world's REEs needs, consumes about 60%, and increasingly dominates the manufacture of green technology. With Quantum's acquisition of the Elk Creek Carbonatite in southeastern Nebraska, the Company now owns one of the largest known carbonatites (approximately 7 kilometers in diameter), which "... has the potential to be one of the largest global resources of niobium and REEs mineralization," according to the U.S. Geological Survey.

The profile comments on Quantum's ability to accelerate its projects both in Saskatchewan and Elk Creek with available funds. Further, the newsletter discusses the extensive work already performed by Quantum on core and data from Molycorp's historic work at Elk Creek, which has produced a new resource report with an inferred resource in excess of 80 million tonnes at 0.62% Nb205. In addition, the work also produced significant results for REE's, substantiating the need for follow-up drilling with the intent of defining a resource of REEs.

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 and CEO (604) 568-7365 (604) 568-7506 (FAX) www.QuantumRareEarth.com