March 5, 2021 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce a donation of five (5) whole rock hand samples from the Ashram Rare Earth and Fluorspar Deposit to the Canadian Museum of Nature in Ottawa, ON.
The donation is in response to a request by the Canadian Museum of Nature who are developing a display/edukit that will be used at various schools, launching in September 2021. The focus of the edukit is minerals and natural resources in our daily lives. This includes the mining of rare earth elements (“REEs”) and specifically, an illustration of the key components of the REE value chain. The overarching objective is show students how raw materials in the ground are extracted, processed, and end up being used in everyday technologies such as cell phones, tablets, headphones, etc.
Company President Chris Grove comments, “We are very happy to support REE education initiatives such as those being advanced by the Canadian Museum of Nature. The criticality of REEs is often overlooked due to their use in relatively small amounts per application; however, they are indispensable to our everyday way of life through their uses in high-tech and clean technologies. Education is a principal way to bridge this gap in understanding and provides the opportunity to further highlight the complexity in the relationships of industry supply chains and the products we rely on every day.”
The Company continues to collaborate with the Canadian Museum of Nature to offer its expertise on the REE industry and looks forward to any further support it can provide to the institution’s education initiatives. The donation to the Museum follows similar donations of rocks samples by the Company to the University of Alberta in 2010 and the Royal Ontario Museum in 2009, which were collected from the Blue River Tantalum and Niobium Project’s Upper Fir Deposit located in British Columbia.
The Company also announces that it has granted an aggregate of 1,800,000 stock options (each, an “Option”) to certain directors, officers, employees, and consultants of the Company for the purchase of up to 1,800,000 common shares of the Company pursuant to its Stock Option Plan. Each Option is exercisable for a period of two (2) years at a price of $0.38 per common share. Of these Options, 200,000 are being granted to persons providing investor relations to the Company and, pursuant to the policies of the TSX Venture Exchange, must vest over 12 months from the issuance date, with 25% vesting in each three (3) month period after the grant of the Options.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include that Ashram has the potential to be a long-term supplier to the met-spar and acid-spar markets. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed don’t work as well as expected, the leach residue may not be usable, we may experience difficulties producing concentrate or achieving an upgrade to the concentrate; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.