Quantum CEO is Interviewed on CDTV.net
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/31/11 -- Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ('Quantum', the 'Company') has announced that CEO, Peter Dickie, has been interviewed on CDTV, a financial television news network. The interview is available at http://www.cdtv.net/users/content/quantum-rare-earth-development-corp-ceo-and-president-peter-dickie.
In the interview, Dickie noted that a recent resource report on Quantum's property at Elk Creek, Nebraska, has a 43-101 inferred resource of about 500 million kilograms of niobium. The current market price for niobium is over $40 per kilogram, Dickie said. Niobium has a range of strategic industrial uses, including high-strength alloys in high-performance aircraft and as a steel hardener in natural gas pipelines. Quantum has determined that its 14-square mile site at Elk Creek also contains four primary rare earth elements: lanthanum, cerium, praseodymium and neodymium.
At present, a privately held mine in Brazil produces 80 to 85 percent of the world's niobium. The current worldwide market for niobium is 100,000 tons per year. Recent news reports concerning niobium and rare earth elements have centered on the 2011 British Geological Society Risk List, which gives equal risk assessments to the supplies of rare earth elements and niobium, in large part because of the supply control exhibited by China over rare earth elements, and with respect to niobium, due to the large portion of the world market supplied by a single mine.
On Behalf of the Board,
Peter Dickie, President, CEO
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 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.
(604) 568-7365
(604) 568-7506 (FAX)
www.QuantumRareEarth.com