VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) (http://www.quantumrareearth.com/) has voiced its strong support for a provision in the Fiscal Year 2012 U.S. defense authorization bill (H.R. 1540) that directs the Department of Defense to set up an inventory of rare earth oxides, metals, alloys, and magnets for defense purposes.
Peter Dickie, Quantum President and CEO, said, "The recent action by the U.S. House committee is an important step to break the dependence on foreign sources of rare earth oxides, metals, alloys and magnets, which are vital to strategic industries including defense. Niobium, which Quantum is currently developing in Nebraska, is used as a steel hardener for high- strength, low-alloy steel, including 'super alloys' for aerospace and defense industries, and as a steel hardener in natural gas pipelines. The U.S. government considers niobium to be a strategic metal," Mr. Dickie added.
Quantum is currently conducting drilling operations in southeastern Nebraska at the Elk Creek project to further determine the extent of the known niobium deposit, and to test the metallurgical properties of the deposit. Current drilling operations are proceeding on schedule, with assay results expected over the coming weeks. Recent testing, compiled with historic drill data on the property, has shown that a large deposit of niobium exists in the area. The historic data also indicates strong results for rare earth elements to be hosted on site.
Quantum Rare Earth Developments Corp., based in Vancouver, British Columbia, is a junior exploration and development company with a focus on seeking out potentially economic deposits of niobium and rare earth elements (REE) in North America and elsewhere in the world.
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."