Quantum Rare Earth Developments Corp.

Quantum Rare Earth Developments Corp.

September 27, 2010 09:57 ET

Quantum Adds More Technical Expertise

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(PINK SHEETS:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce that Mr. Claude Dufresne, Ing. has agreed to join the recently establishment Technical Advisory Board to help oversee developments of the Company assets.

Mr. Dufresne graduated with a Bachelors degree in Mining Engineering from Laval University in 1991. Following his graduation, Mr. Dufresne started working with Cambior as a metallurgist. In 1996, he was transferred to Cambior's largest operation, Omai Gold Mines Ltd., located in Guyana, S.A before been promoted to Marketing Manager. After Cambior's acquisition by Iamgold Corp, Mr. Dufresne collaborated with Iamgold's Corporate Development group while continuing with its Sales & Marketing activities, which included niobium and bauxite. In January 2008, Mr. Dufresne started Camet Metallurgy Inc, a joint venture company with Iamgold, which is responsible for the worldwide Sales and Marketing of Iamgold's niobium from the Niobec mine. Mr Dufresne is a member of the Ordre des Ingenieurs du Quebec, and of the Tantalum & Niobium International Study Center (TIC).

"We are extremely pleased with the addition of Mr. Dufresne to the Company. We feel he will play an integral role in the guidance and development of the Elk Creek Niobium and Rare Earth property in Nebraska," stated Peter Dickie, President and CEO of Quantum. "We anticipate announcing additional members of this board in the coming weeks."

The Company has received conditional approval for the Elk Creek Carbonatite acquisition, with final approval subject to satisfaction of certain conditions (see NR Sept 21, 2010 for details), including successfully closing a private placement. Camet Metallurgy Inc. has agreed to participate in this private placement.

The Company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 100,000 common shares of the Company for a period of 2 years at a price of $0.35 per share, subject to approval of the TSX Venture Exchange.

On Behalf of the Board,

Peter Dickie, President

"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."

Contact Information

  • Quantum Rare Earth Developments Corp.
    Peter Dickie
    (604) 669-9330
    (604) 669-9335 (FAX)