VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2013) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce the addition of the Honorable Tony Fulton, P.E. to the Company's Advisory Board.
Mr. Fulton is a former State Senator in the State of Nebraska, having recently reached his term limit precluding a third term re-election. A lifelong resident from near the Elk Creek area, Mr. Fulton is a graduate of the University of Nebraska, and a Mechanical Engineer by profession. Mr. Fulton was recently a key figure affecting the Keystone XL pipeline, another Nebraska project by a Canadian company, pushing forth with a positive business position accompanied with sound environmental considerations. Fulton commented, "Folks in Southeast Nebraska have been talking about this project in Elk Creek for some time, and I enthusiastically offer my expertise and experience in bringing the project to fruition."
"We are very pleased to welcome Mr. Fulton to our team," stated Peter Dickie, President and CEO of Quantum. "Having been an active supporter of the project while serving in office, we look forward to his continued support and assistance in a more direct fashion, at both the local and state level as we strive to develop our large and unique Niobium deposit. With a local businessman of this caliber and experience involved, we aim to enhance our relationship with local and state residents, while providing the Company with tremendous support as we continue to build the development team for Elk Creek."
Quantum are developing the Elk Creek Carbonatite, the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America. With the significant size and grade of this strategic mineral deposit (NI43-101 resource of 19.3 Million tonnes grading 0.67% Indicated containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% containing over 523,844 tonnes of Nb2O5. Inferred) it is garnering the attention of a number of significant domestic and international corporations. Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs. Niobium is listed as a strategic metal, and is being considered for national stockpiling in the U.S., China, and several European countries.
Cautionary note: This news release contains forward looking statements. These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management's expectation that the results of these studies will confirm the potential of the Elk Creek Project. Specifically, any statements regarding the potential increase of the Company's inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward looking information. Resource estimates, unless specifically noted, are considered speculative. The Company has filed a National Instrument 43-101 report on the Elk Creek Project. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company's properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.
The business of exploring for minerals involves a high degree of risk.
Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
"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."