Mr. Chris Grove reports

COMMERCE RESOURCES CORP. ANNOUNCES METALLURGICAL COLLABORATION WITH CANMETMINING FOR THE ASHRAM DEPOSIT, QUEBEC

Commerce Resources Corp. is collaborating with CanmetMining, focusing on beneficiation testwork for the Ashram rare earth and fluorspar deposit. The primary objective of CanmetMining's work on the Ashram deposit is to identify a key approach to further enhance beneficiation performance by exploring and testing a range of potentially applicable process methods at varying test conditions. These methods are expected to include flotation, gravity separation, magnetic separation and ore sorting, in addition to several other physical separation approaches.

Preliminary flotation results by CanmetMining have been very encouraging with similar results (less-than-25-per-cent mass pull and greater-than-80-per-cent recovery) to the base case flowsheet achieved while using a modified reagent scheme and test conditions that provide a cost advantage. These results continue to illustrate the versatility and optimization potential of the Ashram deposit's flowsheet. Flotation testwork is continuing, including further reagent screening, mixed collector studies, and preliminary locked cycle and reverse conditioning tests. Test programs for gravity separation and ore sorting are also being advanced through CanmetMining.

In addition to these test programs, the company is pleased to announce that a joint abstract by the company and CanmetMining titled "Mineral Processing Flowsheet Options for the Ashram Rare Earth and Fluorspar Deposit" has been accepted for presentation at the 2020 Conference of Metallurgists (COM2020) to be held Aug. 24 to Aug. 27 in Toronto, Ont. The abstract will also be expanded upon in a paper to be presented at the show.

The funding for the testwork is provided by Natural Resources Canada (NRCan) through CanmetMining's six-year rare earth element (REE) and chromite program, (announced in January, 2015), focused on developing new extraction technologies, addressing Canadian regulations, and improving the knowledge of Canadian deposits. The company's contribution to the collaboration is a supply of REE mineralized material from the Ashram deposit, in which several tonnes remain readily available from a bulk sample completed in 2012.

The Ashram deposit outcrops at surface, allowing for cost-effective collection of material for testwork. As such, the company is actively engaging with various research and academic institutions to support the advancement of the REE industry in Canada, and in Quebec specifically.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeo, Dahrouge Geological Consulting Ltd., a permit holder with the Ordre des Geologues du Quebec 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 is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The company is focused on the development of its Ashram rare earth element deposit in Quebec and the Upper Fir tantalum-niobium deposit in British Columbia.

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