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Commerce Resources Files NI 43-101 Technical Report for the Ashram Rare Earth Element & Fluorspar Deposit, Eldor Property, Quebec, Canada

Press Release

July 8, 2024 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) announces that is has filed on SEDAR+ a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) titled “Mineral Resource Estimate for the Ashram Rare Earth Element and Fluorspar Deposit, Nunavik, Québec, Canada”. This filing follows the May 22, 2024 announcement of an updated mineral resource estimate for the Ashram Rare Earth Element and Fluorspar Deposit (the “Ashram Deposit” or “Ashram”) with 73.2 Mt at 1.89% TREOǂand 6.6% CaF2 indicated, and 131.1 Mt at 1.91% TREO and 4.0% CaF2 inferred1.

The technical Report has been prepared by BBA Inc., with contributions from PLR Resources, DRA Global Limited and L3 Process Development, all consulting groups independent of the Company, in accordance with NI 43-101. The report is available on SEDAR+ and will shortly be available on the Company’s website.

ǂ TREO = sum of all lanthanide oxides + yttrium oxide1Ashram mineral resource estimate is reported at a cut-off of CAD 287 Net Metal Return (NMR) per tonne with an effective date of April 4, 2024. Mineral resources are not mineral reserves as they do not have demonstrated economic viability

NI 43-101 Disclosure

Patrik T. Schmidt, 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.

For more information, please visit the corporate website at   or email

On Behalf of the Board of Directors

“Chris Grove”
Chris Grove
CEO and President
Tel: 604.484.2700



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