QUANTUM GRANTS OPTIONS

May 5, 2010  – Vancouver, B.C.:  Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3) (“Quantum”, the “Company”) 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 550,000 common shares of the Company for a period of 2 years at a price of $0.53 per share.

On Behalf of the Board,

“Peter Dickie”
Peter Dickie, President

For further information, contact Peter Dickie, President and CEO of the Company at (604) 669-9330.  

“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."