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VANCOUVER, BC / ACCESS CABLE / Jul 22, 2022 / Commerce Resources Corp. (TSXV:CCE), (FSE:D7H0), (OTCQX:CMRZF) (the “Company” or “Merchant”) is pleased to announce that it has delivered an initial shipment of 2 kg of Ashram Deposit whole rock crushed material to a Rare Earth Element (“REE”) Emerging Processor upon your request. This follows on the heels of the recently delivered sample of Mixed Rare Earth Carbonate Concentrate (“Mixed REC”) to satisfy a request from a major global producer (see press release dated July 15, 2022).

The 2kg sample of crushed whole rock material from the Ashram Deposit will be used by REE’s processor to assess processing in its internal laboratories and is expected to be followed shortly by an additional 200kg shipment of crushed whole rock. The processor has also expressed interest in receiving a sample of mixed REC concentrate produced at the Ashram Deposit, for which the Company has demonstrated strong NdPr distributions (% Nd+Pr oxide of total rare earth oxide (“REO”) ) – from 21.6 to 24.2%.

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The company continues to receive a marked increase in industry interest in providing samples for third-party evaluation following the announcement that it had produced mixed REC to Ashram Deposit material specifications (see press release March 23). of 2022). This interest includes raw whole rock samples, high-grade monazite concentrate (>40% REO), and high-NdPr mixed REC concentrate produced at the Ashram deposit of rare earths and fluorspar. The Company is working diligently to provide samples to satisfy all third party requests and is well advanced in its Ashram Project component studies which will culminate in a Pre-Feasibility Study on the Ashram Project expected in the first half of 2023.

About the Deposit Ashram

The Ashram deposit is classified as one of the largest REE (and fluorspar) deposits in the world, and consists of a single monazite-dominated orebody outcrop at surface, and has a footprint of approximately 600m along the course, more than 300 m wide and 600 m deep. being open in several directions. The deposit hosts a measured resource of 1.6 million tonnes (Mt) grading 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt grading 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt grading 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (effective date July 5, 2012) . Please note that mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or part of the mineral resources will become mineral reserves.

NI 43-101 Disclosure

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Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a permit holder with the Ordre des Géologues du Québec and ‘Qualified Person’ as defined in National Instrument 43-101 – Standards of Minerales Projects Disclosure, oversaw the preparation of the technical information for this press release.

About Commerce Resources Corp.

Commerce Resources Corp. 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 itself 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. The Ashram deposit is characterized by simple rare earth (monacite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a favorable grade large tonnage resource, and has demonstrated the production of high grade mineral concentrates (>45% REO) to high recovery (>70%) in line with active global producers. As well as being one of the world’s largest rare earth deposits, Ashram is also one of the world’s largest fluorspar deposits and has the potential to be a long-term supplier to the metalspar and acid spar markets.

For more information, visit the corporate website at Or email [email protected].

On behalf of the Board of Directors

“Chris Grove”
chris grove
President and Director
Phone: 604.484.2700
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This press release contains forward-looking statements, including any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this press release include; that we expect to complete a pre-feasibility study in the first half of 2023 for the Ashram Project; that third-party REE processors will continue to be interested in receiving mixed REC samples and concentrates from the Ashram repository; that we will be able to deliver an additional 200kg of crushed whole rock and additional mixed REC to a REE processor, as requested; that Ashram has the potential to become one of the largest deposits of fluorspar and a long-term supplier to the metalspar and acid spar markets; and that the Company is positioning itself to be one of the world’s lowest cost rare earth element producers. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that we may not be able to fully fund any further exploration at the Ashram Project; that even if we are able to raise capital, the costs of exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programmes; geological interpretations based on drilling that may change with more detailed information; potential process methods and assumptions of mineral recovery based on limited test work and compared to what are considered analogous deposits which, with further test work, may not be comparable; tests of our process may not be successful or samples derived from the Ashram Project may not give positive results, and even if such tests are successful or initial sample results are positive, economic and other results may not be as expected; the availability of manpower and equipment to carry out future exploration work and testing activities; geopolitical risks that may result in economic and market instability; and despite the current expected viability of the Ashram Project, conditions change such that even if metals or minerals are discovered at the Ashram Project, the project may not be commercially viable; The forward-looking statements contained in this press release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

FONT: Business Resources Corporation.

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