Ashram Perfectly placed to Capitalise on Canada’s Promise to Increase Spending on Critical Minerals

Press Release

MONTREAL, July 2, 2025 — Commerce Resources Corp. (TSXV: CCE, FSE: D7H0, OTCQX: CMRZF) is pleased to note recent reports which state that the Canadian Government has committed to increase spending on critical minerals projects as part of meeting its NATO expenditure targets.

The commitment could deliver substantial benefits to Commerce’s Ashram rare earths project, which is the biggest undeveloped rare earths deposit in North America.

Commerce CEO & President, Nicholas Holthouse, said:

“This important announcement from Canadian Prime Minister Mark Carney bodes extremely well for Canada’s world class array of critical minerals projects and in particular Commerce Resources’ Ashram project in northern Quebec.

“Commerce will continue to work closely with Indigenous Leaders, Industry and Government agencies to explore the appropriate shared Infrastructure options to enable the Ashram project’s high value RE elements to be extracted and value added within Quebec, North America and European down stream industries”.

Highlights from the reports include

• Canada expects to meet its NATO commitment, under which it will spend equal to 5% of its annual GDP on military expenditure, in part by developing – critical mineral mining and processing.
• Critical minerals are changing the face of warfare and rare earth mines may assist Canada with meeting its US$109 billion military commitment.
• Canadian Prime Minister Mark Carney said five per cent of Canada’s GDP would amount to about C$150 billion per year and Canada will reach the target in part by developing deposits of critical minerals.
• Canada’s pledge to increase military expenditure to 5% GDP will be a significant lift from its previous commitment of 2% GDP.
• NATO’s proposed military spending target of 5% GDP highlights the changing nature of warfare with critical minerals now essential in technology such as drones, satellites, tracking systems and cybersecurity.

Pursuant to the announcement on 10th April 2025, the transaction with Mont Royal Resources (ASX.MRZ) is making solid progress, with both companies working diligently to achieve all documentation and statutory requirements to reach completion.

We look forward to keeping shareholders updated in the coming weeks with further updates on key documentation and timing of the admission to trading on the ASX.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

COMMERCE RESOURCES CORP.
Nicholas Holthouse
President and CEO
Phone: + 61 428 964 276
Email: info@commmerceresources.com

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