QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") is pleased to announce the commencement of drilling operations at the Elk Creek Carbonatite Project, located in southeastern Nebraska.

The spring 2011 drill program will target both the Elk Creek Niobium Deposit and Rare Earth Element (REE) mineralization previously identified within the eastern part of the Elk Creek Carbonatite Complex. The Company has expanded upon the previously announced drilling plans, and now anticipates completing at least 5,000 m within several drill holes.

For the Elk Creek Niobium Deposit, the Company will test at least three locations; these holes are planned as "infill" holes to upgrade the resource category for the deposit, and to provide sufficient material for future metallurgical test-work.

The first drill hole is underway, and has targeted the eastern portion of the deposit below historic drill hole EC-11 (which returned values of 267m @ 0.71% Nb2O5); between vertical holes EC-27 (49m @ 0.57% Nb2O5) and EC-30 (150m @ 0.65% Nb2O5). Further details of these historic drill holes are available on the Company's news release dated February 22, 2011.

Subsequent drill holes will step out from the REE mineralization previously reported for Hole EC-93 (155.5m of 2.70% TREO).

All drill core will be split and sampled according to a rigorous QA/QC protocol, including the insertion of field duplicates, laboratory pulp duplicates, blanks and certified reference standards.

Neil McCallum, P.Geol., of Dahrouge Geological Consulting Ltd., is the qualified person responsible for the technical information in this news release.

Information on additional drill holes will be contained in future news releases.

On Behalf of the Board,

Peter Dickie, President

"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) 669-9330 www.QuantumRareEarth.com