Mr. Ian Graham reports

COMMERCE RESOURCES ANNOUNCES CHANGE IN MANAGEMENT

Ross Carroll has terminated his employment with Commerce Resources Corp. by mutual agreement, and will step down as president and chief executive officer, and as a member of the board of directors, effective immediately.

Jeremy Robinson, who is currently a non-executive director, will assume the role of interim president and CEO to complete the company's expected dual listing on the Australian Securities Exchange in the coming months and oversee the next phase of development of the world-class Ashram rare earths project.

Following completion of the ASX listing, the company expects to announce the appointment of a permanent president and CEO, who will be based in North America.

Commenting on the changes, Mr. Robinson said: "On behalf of the Commerce board, I would like to express my thanks to Ross for his leadership and diligence over the past six months, and wish him well in his future endeavours.

"The company is about to embark on an exciting period, and I look forward to keeping shareholders updated in the weeks and months ahead as we continue to advance the Ashram project towards development."

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 the Eldor property, in Northern Quebec, Canada. The Ashram deposit is characterized by simple rare earth (monazite, bastnaesite and xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (more than 30 to 45 per cent TREO) mineral concentrates at high recovery (more than 60 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 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.