Quantum Rare Earth Developments Welcomes Former Molycorp CEO To Its Advisory Board; Announces Name Change

- February 25th, 2013

Quantum Rare Earth Developments Corp. (TSXV:QRE,OTCQX:QREDF,FWB:BR3) welcomes Mark A. Smith to its Advisory Board. Mr. Smith recently served as CEO and Director of Molycorp, Inc., where he was involved in taking that from a private company to a publicly traded producing mine. The Company also announced that to better reflect development plans at the Elk Creek Niobium project in Nebraska, the name of the Company will be changed to NioCorp Developments Ltd. shortly, following which the company will begin trading under a new symbol.

Quantum Rare Earth Developments Corp. (TSXV:QRE,OTCQX:QREDF,FWB:BR3) welcomes Mark A. Smith to its Advisory Board. Mr. Smith recently served as CEO and Director of Molycorp, Inc., where he was involved in taking that from a private company to a publicly traded producing mine. The Company also announced that to better reflect development plans at the Elk Creek Niobium project in Nebraska, the name of the Company will be changed to NioCorp Developments Ltd. shortly, following which the company will begin trading under a new symbol.

As quoted in the press release:

Mr. Smith is well recognized in the mining community, having recently served as CEO and Director of Molycorp, Inc., where he was instrumentally involved in taking that from a private company to a publicly traded producing mine. Prior to that, Mr. Smith was the President and Chief Executive Officer of Chevron Mining Inc. and managed the real estate, remediation, mining and carbon divisions of Unocal Corporation for over 22 years.

Quantum Rare Earth CEO Peter Dickie said:

We are extremely pleased to welcome Mark to our team. We believe the addition of an individual such as Mark, with his experience and business contacts with Niobium producers, is a tremendous vote of confidence and will greatly assist us in financing and developing our large and unique Niobium project.

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