Quest Obtains a Second Extension of the Delay to File a Proposal Under The Bankruptcy and Insolvency Act

Quest Rare Minerals (the “Company” or “Quest”) announced that on September 15^th, 2017, the Superior Court of Québec granted Quest Rare Minerals’ motion for an extension of the delay to file a proposal pursuant to the provisions of Part III of the Bankruptcy and Insolvency Act, thereby extending the delay to file such proposal by an additional 45 days, up to and including November 2^nd, 2017.  This is the second extension granted to Quest in the context of the Notice of Intention (NOI) to File a Proposal filed by Quest on July 5, 2017.

The additional NOI period will allow Quest to pursue its restructuring efforts and discussions with potential investors with the aim to emerge from insolvency protection for the benefit of all of its stakeholders, including its shareholders.

The Company works closely with its trustee PricewaterhouseCoopers (PWC) to evaluate all available recourses and financial alternatives that may allow the Company to resume activities.

There can be no guarantee that the Company will be successful in securing financing or achieving its restructuring objectives. Failure by the Company to achieve its financing and restructuring goals will likely result in the Company becoming bankrupt.

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