Transcript of "Quantum Rare Earth Developments Corp.: Review of 2011"
QRE – TSX.V BR3 – FSE QREDF – OTCQX Quantum Cites 2011 Niobium Drill Results in Nebraska as Key Milestone and Announces Preliminary Niobium Economic Assessment Planned for 2012December 20, 2011 – Vancouver, B.C. Quantum Rare Earth Developments Corp. (the“Company” or “Quantum”) (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) President and ChiefExecutive Officer, Peter Dickie, recapped the Company’s 2011 activities at its Annual GeneralMeeting held on Monday, December 12, 2011.This news release provides a summary of Mr. Dickie’s overview of the Company’s activitiesduring the 2011 year.Key MilestoneDuring the 2011 year, the Company released data showing a large, indicated resource at its 14-square mile site at Elk Creek, Nebraska (the “Elk Creek Project”) of 80.1 million tonnes ofniobium grading 0.62% Nb2O5 (see news release dated April 28, 2011 for more information).Quantum aims to be the solution for America’s strategic and critical niobium needs for thedomestic steel and aviation industry by developing one of the richest niobium deposits in theworld and the only significant deposit in America. Niobium is crucial in jet thrusters, steel forbridges, buildings, oil and gas pipelines, stainless steel, and MRI machines.2011 HighlightsMarch 2011 Release of a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) resource report on the Elk Creek Project, showing an inferred resource of 80.1 million tonnes grading 0.62% Nb2O5 (containing an estimated 493 million kilograms of Nb2O5. (See news release dated April 28, 2011 for more information)April 2011 Commencement of first drill program at Elk Creek Project in over 25 yearsJuly 2011 Announcement of Niobium zone drill results, with NEC11-01 targeting an infill zone where the NI 43-101 report on the Elk Creek Project previously did not have any credits toward the total resource. Grades reported were 235 meters of 0.73% Nb2O5, including 54 meters grading 1.17% Nb2O5 (see news release of July 27, 2011 for more information) Suite 1510 – 1050 West Pender St. Vancouver, B.C., Canada V6E 3S7 Tel: 604-568-7365 Fax: 604-688-4215 www.QuantumRareEarth.com
QRE – TSX.V BR3 – FSE QREDF – OTCQXAugust 2011 Announcement of additional niobium zone drill results, including NEC 11-002 which graded 179 meters of 0.87% Nb2O5, including 131 meters grading 1.02% Nb2O5 (See news release dated August 16, 2011 for more information); and Signing of metallurgical testing agreement with Hazen Research Inc. (“Hazen”) to test niobium recoveries from recently drilled coreSeptember 2011 Announcement of drill results from Rare Earth zone (located 2.5 kilometers east of niobium zone at Elk Creek Project), including NEC 11-004 returning 236 meters grading 2.1% TREO*, including 68 meters grading 3.32% *TREO (See news release dated September 20, 2011 for more information)November 2011 Completion of option agreements divesting Australian and Ontario properties, furthering the Company’s ability to concentrate on Elk Creek ProjectDecember 2011 Successful completion of $750,000 financing for advancement of the Elk Creek ProjectAlso in June 2011, Quantum made significant additions to its board of directors and advisoryboard, through the additions of David Beling, P.E., Jim Reynolds, Chemical Engineer and DavidShoemaker, Mining Engineer.Looking forward to 2012, Mr. Dickie advised shareholders of several key milestones theCompany is aiming to complete, including: receipt of metallurgical testing results from Hazen; engagement of an outside engineering firm to complete an updated resource calculation and preliminary economic assessment work on the niobium deposit; additional infill drilling to elevate the deposit towards the indicated and measured category; further discussions with potential off-take or strategic partners to accelerate development of the Elk Creek Project; and enhancement of the technical management team overseeing the Elk Creek Project.In closing, Mr. Dickie added, “We are particularly proud of the accomplishments made by ourdevelopment team this year on the Elk Creek deposit. We are well-positioned to reach the nextlevel of development of our large niobium resource, and our dedicated development teamcontinues to work hard towards achieving these goals.” Suite 1510 – 1050 West Pender St. Vancouver, B.C., Canada V6E 3S7 Tel: 604-568-7365 Fax: 604-688-4215 www.QuantumRareEarth.com
QRE – TSX.V BR3 – FSE QREDF – OTCQX*Total Rare Earth Oxides (TREO) include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3,Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3 and Y2O3.Qualified Persons: Mr. Neil McCallum, P.Geol. is the qualified person responsible for the ElkCreek Project and has read and approved the technical disclosure contained in this newsrelease.On Behalf of the Board,“Peter Dickie”Peter Dickie, President, CEOFor further information, contact the Company at (604) 568-7365.“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."Cautionary note: This report contains forward looking statement. Resource estimates, unless specifically noted, areconsidered speculative. The Company has filed a National Instrument 43-101 report on the Elk Creek Project. Anyand 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 thatwill 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 ofcertain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can beshown to be economically and legally producible under existing economic and operating conditions. Suite 1510 – 1050 West Pender St. Vancouver, B.C., Canada V6E 3S7 Tel: 604-568-7365 Fax: 604-688-4215 www.QuantumRareEarth.com