Mr. Ross Carroll reports

CHANGE TO THE BOARD OF DIRECTORS

Commerce Resources Corp. has made a change to its board of directors.

Jody Dahrouge resigned as a director of the Commerce Resources board, effective Dec. 20, 2024. Mr. Dahrouge has been a director since January, 2000. The board and everyone involved with Commerce wish to express their gratitude to Mr. Dahrouge for his exceptional commitment and invaluable contributions during his tenure as a director.

Mr. Dahrouge played a pivotal role in the discovery of the Ashram rare earth and fluorspar project, and the company's recent niobium exploration success. It was his team that discovered Ashram in 2008, and he has been instrumental in guiding the company's exploration and development programs.

"Jody has made an exceptional contribution both to the positioning of Commerce Resources and the development of the Ashram REE project based in Quebec, Canada," said Ross Carroll, chief executive officer of Commerce Resources. The board of directors would like to thank Jody for his contribution to the company and wish him well in his future endeavours.

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 within its Eldor property in Northern Quebec, Canada. 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 (more than 30 per cent to 45 per cent TREO (total rare earth oxides)) mineral concentrates at high recovery (more than 60 per cent to 75 per cent) in line with active global producers.

The Ashram deposit also has a fluorspar component, which makes it one of the largest potential sources of fluorspar in the world, and could be a long-term supplier to the met-spar and acid-spar markets. 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 (praseodymium-neodymium) oxide to the global market.

Additionally, Commerce is committed to exploring the potential of other high-value commodities on the property, such as niobium and phosphate minerals, which may help advance Ashram by reducing costs through shared development.

We seek Safe Harbor.