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Commerce Resources Corp (2)
Symbol CCE
Shares Issued 73,731,378
Close 2021-03-05 C$ 0.38
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Commerce Resources donates Ashram samples to museum

2021-03-05 15:10 ET - News Release

Mr. Chris Grove reports

COMMERCE RESOURCES CORP. DONATES SAMPLES FROM THE ASHRAM RARE EARTH AND FLUORSPAR DEPOSIT TO THE CANADIAN MUSEUM OF NATURE AND ANNOUNCES GRANT OF STOCK OPTIONS

Commerce Resources Corp. has donated five whole-rock hand samples from the Ashram rare earth and fluorspar deposit to the Canadian Museum of Nature in Ottawa, Ont.

The donation is in response to a request by the Canadian Museum of Nature, which is developing a display/educational kit that will be used at various schools, launching in September, 2021. The focus of the educational kit is minerals and natural resources in people's daily lives. This includes the mining of rare earth elements (REEs) and, specifically, an illustration of the key components of the REE value chain. The overarching objective is to show students how raw materials in the ground are extracted, processed and end up being used in everyday technologies such as cellphones, tablets and headphones.

Chris Grove, president of Commerce Resources, commented: "We are very happy to support REE education initiatives such as those being advanced by the Canadian Museum of Nature. The criticality of REEs is often overlooked due to their use in relatively small amounts per application; however, they are indispensable to our everyday way of life through their uses in high-tech and clean technologies. Education is a principal way to bridge this gap in understanding and provides the opportunity to further highlight the complexity in the relationships of industry supply chains and the products we rely on every day."

The company continues to collaborate with the Canadian Museum of Nature to offer its expertise on the REE industry and looks forward to any further support it can provide to the institution's education initiatives. The donation to the museum follows similar donations of rocks samples by the company to the University of Alberta in 2010 and the Royal Ontario Museum in 2009, which were collected from the Blue River tantalum and niobium project's Upper Fir deposit located in British Columbia.

The company has granted an aggregate of 1.8 million stock options to certain directors, officers, employees and consultants of the company for the purchase of up to 1.8 million common shares of the company pursuant to its stock option plan. Each option is exercisable for a period of two years at a price of 38 cents per common share. Of these options, 200,000 are being granted to persons providing investor relations to the company and, pursuant to the policies of the TSX Venture Exchange, must vest over 12 months from the issuance date, with 25 per cent vesting in each three-month period after the grant of the options.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeo, of Dahrouge Geological Consulting Ltd., a permit holder with the Ordre des Geologues du Quebec and a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this news release.

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 (neodymium/praseodymium) 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 it has demonstrated the production of high-grade (greater than 45 per cent rare earth oxide) 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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