VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 08/16/11 — Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) („Quantum“, the „Company“) is pleased to announce results for two additional holes of the first of five drill holes from the spring/summer 2011 exploration program at the Elk Creek Niobium – REE Project, located in southeastern Nebraska, USA. Drill holes NEC11-002 and NEC11-003 are the remaining two of three holes which were completed to test the Elk Creek Niobium Deposit.
Highlights from the current exploration include:
Management of Quantum are very pleased with the results as they provide additional information on areas of the deposit at depth where limited information was previously available, but also confirm the strong grade and size potential of the Niobium structure indicated by previous drilling by Molycorp.
Drill hole NEC11-002 was drilled at a -55 degrees inclination at a direction of 035 degrees to a depth of 908.61 metres (a drill plan and cross-section are available on the company-s website at ). The hole was drilled in the northwestern portion of the deposit at depth. A significant zone of Middle and Heavy Rare Earth (MHREO(i)) mineralization of between 28% to 43% MHREO, with notable enrichment in Europium, Gadolinium, Terbium and Dysprosium was encountered in this hole, similar to the MHREO enrichment found in hole NEC11-001.
Drill hole NEC11-003 was drilled at a -65 inclination at a direction of 035 degrees to a depth of 508.71 metres. The hole was drilled in the southeastern portion of the deposit.
Exploration at the Elk Creek Niobium Deposit was designed to accomplish several objectives:
Results of niobium and the rare earth elements and their ratios for these two holes are as follows:
Results of drill hole NEC11-001 were announced in a July 27th 2011 News Release; and include 235.22 m of 0.73% Nb2O5 including 54.13 m of 1.17% Nb2O5. For the remaining two drill holes, results will be released upon their receipt.
Based on the deposits geometry, the drilled thickness is currently estimated at 60 per cent of the true thickness.
Qualified Persons: Mr. Neil McCallum, P.Geol. is the qualified persons responsible for the Elk Creek Carbonatite Project and has read and approved the technical disclosure contained in this news release.
On Behalf of the Board,
Peter Dickie, President
Cautionary note: This report may contain forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Archie Lake property, on the Elk Creek Carbonatite property, and intends to file additional NI 43-101 reports on additional properties as soon as the information is available. 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 risk 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. 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 the 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.“
Contacts: Quantum Rare Earth Developments Corp. Peter Dickie President (604) 568-7365 (604) 568-7506 (FAX)
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