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Commerce Resources Announces Changes to its Board of Directors

Press Release

November 8, 2023 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) wishes to announce changes to its Board of Directors. Dr. Axel Hoppe has resigned as a director and Chairman of the Company, effective immediately. The Company would like to express its sincere gratitude to Dr. Hoppe for his invaluable contributions and dedicated service during his tenure. His insights and leadership have been instrumental in guiding the Company through various strategic decisions.

Additionally, Commerce Resources is pleased to announce the appointment of Mr. Jeremy Robinson as a new director. Mr. Robinson brings with him a wealth of experience in the mineral exploration industry and has held various leadership roles in prominent mining companies. His expertise and vision align well with Commerce’s goals, and the Company looks forward to benefiting from his guidance in the coming years.

Chris Grove, President of Commerce Resources., commented, “It has been an absolute pleasure to have Axel on our Board, and we look forward to a continued relationship with him on our other ventures. I would also like to welcome Jeremy to the Board, and he brings a wealth of experience in project financing and management to the Commerce team.”

Jeremy Robinson is an experienced resources executive having 20 years’ experience in the industry ranging from Business Development to Managing Director positions with a specific focus on critical minerals including rare earths. He is the principal and founder of Churchill Strategic Investments Group which has financed multiple junior explorers and developers across the ASX and TSX. He currently serves as a director of RareX Limited, Cosmos Exploration Limited, Ardiden Limited, Kincora Copper, and BBX Minerals.

Jeremy has stated, “I am excited to be both investing in and joining the board of Commerce Resources as it looks to deliver on the promise of this world-class critical minerals project in Canada.”

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.

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

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

“Chris Grove”
Chris Grove
CEO and President
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

IBF4

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