QRE Niocorp Developments Ltd.

Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") wishes to announce the receipt of an updated research report, issued by from Fundamental Research Corp. The update and the full report are available on the Company's website.

About Fundamental Research: Since 2003, Fundamental Research Corp. has been providing the highest institutional quality equity research coverage on small and micro cap companies through their extensive distribution network. In 2009, they also started issuing reports on exempt market securities. In 2010, their Top Picks earned them the #3 highest ranked analyst firm on First Coverage with a return of 20.75%, and #1 in the Basic Materials Sector (which includes mining) with a return of 29.07%. First Coverage tracks 700+ analysts globally. Their goal from the beginning was to provide high quality research to a broad audience, while adhering to high ethical standards and a strong foundation of integrity.

Quantum Rare Earth Developments Corp., based in Vancouver, British Columbia, is an exploration company with a focus on seeking out potentially economic deposits of niobium and rare earth elements in North America and elsewhere in the world.

The Company also announces the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 1,100,000 common shares of the Company for a period of 3 years at a price of $0.30 per share.

On Behalf of the Board,

Peter Dickie, President, CEO

"Neither the 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