Mr. Chris Grove reports

COMMERCE RESOURCES CORP. UPDATES DISCLOSURE ON CLOSED PRIVATE PLACEMENT

Further to the news release of June 26, 2020, that Commerce Resources Corp. had closed a non-brokered private placement of 6,686,939 units at a price of 18 cents per unit for gross proceeds of $1,203,649.02, it has provided the updated amount of finders' fees paid in connection with the offering to cash finders' fees of $53,076.80 and 290,067 finders' warrants.

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.