Ms. Julie Masse reports

QUEST TO APPLY FOR LISTING ON THE TSX VENTURE EXCHANGE

Quest Rare Minerals Ltd., as a cost-saving measure, will apply for listing on the TSX Venture Exchange and for voluntary delisting from the Toronto Stock Exchange. Quest expects that the transition from the TSX to the TSX-V will be completed within the next 60 days in a seamless manner, in accordance with the streamlined listing procedures of the TSX-V for companies transferring from the TSX, and that there will be no interruption in the ability of shareholders and investors to trade shares of Quest. Quest will issue a subsequent news release in advance of its expected listing on the TSX-V and concurrent delisting from the TSX.

About Quest Rare Minerals Ltd.

Quest is a Canadian-based company focused on becoming an integrated producer of rare earth metal oxides and a significant participant in the rare earth elements (REE) material supply chain. Quest is led by a management team with in-depth experience in chemical and metallurgical processing. Quest's objective is the establishment of major hydrometallurgical and refining facilities in Becancour, Que., to separate and produce strategically critical rare earth metal oxides.