Mr. Chris Grove reports

COMMERCE RESOURCES COMPLETES SALE OF BLUE RIVER PROPERTY

Further to the news release dated May 21, 2024, Commerce Resources Corp. has completed the sale of its interest in certain mineral claims comprising the Blue River property, located near Blue River, B.C., and certain real property owned by the company also located in Blue River, B.C., to an arm's-length private company pursuant to a property purchase agreement entered into between the company and the purchaser.

Pursuant to the purchase agreement, as consideration for the Blue River assets, the company received 20 million shares in the capital of the purchaser at a deemed price of five cents per share. It is the company's current intention to distribute the Blue River shares to its shareholders on a pro rata basis at a later date. Any disposition of the Blue River shares will, if undertaken, be conducted in compliance with applicable corporate and securities laws, and the policies of the TSX Venture Exchange.

For additional information regarding this transaction, please see the company's news release dated May 21, 2024, as filed under the company's profile on SEDAR+.

About Commerce Resources Corp.

Commerce Resources 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 and xenotime) and gangue (carbonates) mineralogy and a large-tonnage resource at favourable grade, and has demonstrated the production of high-grade (greater than 45 per cent rare earth oxides) mineral concentrates at high recovery (greater than 70 per cent) 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.

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