Mr. Anil Singh reports

QUEST RARE MINERALS COMPLETES PRIVATE PLACEMENT WITH RESSOURCES QUEBEC

Quest Rare Minerals Ltd. has completed a previously announced private placement with Ressources Quebec Inc. by issuing 4,579,815 units at a price of 13 cents per unit, for proceeds to Quest of approximately $595,000. Each unit comprises one common share and one common share purchase warrant, each of which entitles the holder to acquire one additional common share of Quest at a price of 15 cents for four years.

Ressources Quebec Inc. is a wholly owned subsidiary of Investissement Quebec.

The proceeds from the private placement will be used by Quest for working capital. Following the private placement, there are 83,409,011 common shares of Quest issued and outstanding.