Quantum Rare Earth Developments Corp.

 

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 QUANTUM ANNOUNCES CHANGES IN DIRECTORS

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Quantum Rare Earth Developments Corp. has made changes to the board of directors. Joining the board is Claude Dufresne, who formerly sat on the company's technical advisory board.

Mr. Dufresne graduated with a bachelor's degree in mining engineering from Laval University in 1991. Following his graduation, Mr. Dufresne started working with Cambior as a metallurgist and then a mill superintendent, before being transferred to Cambior's largest operation located in South America. After spending 10 years on the operational side of the business, he became responsible for the worldwide sales and marketing of Cambior's ferro-nioibium and calcined bauxite. After Cambior's acquisition by Iamgold Corp., Mr. Dufresne collaborated with Iamgold's corporate development group while continuing with its sales and marketing activities. In January, 2008, Mr. Dufresne started Camet Metallurgy Inc., which was responsible for the worldwide sales and marketing of Iamgold's niobium until the end of October, 2012. Mr Dufresne is a member of the Ordre des Ingenieurs du Quebec, and the Tantalum and Niobium International Study Center (TIC).

"We are very pleased to welcome Mr. Dufresne as a director to assist in development of our Elk Creek niobium deposit. With the limited number of niobium experts available in the field, we are looking forward to utilizing Claude's extensive experience and business relationships in the niobium business to further our development plans," commented Peter Dickie, president and chief executive officer of Quantum.

Resigning from the board are James Allan and Jody Dahrouge. The board thanks them for their past contributions and wishes them well in their future endeavours.

Shareholders are advised that, in place of Mr. Dahrouge and Mr. Allan, Mr. Dufresne will be one of the management nominees for directors to be elected at the company's annual general meeting scheduled for Dec. 12, 2012. Management proxyholders intend to exercise the discretion granted in the proxies and vote in favour of the election of Mr. Dufresne as a director. If any shareholders have voted by proxy and wish to amend their vote, they should follow the instructions on the proxy and notice of meeting.

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