Commerce Resources Corp. Provides Status Update on the Prefeasibility Study for the Ashram Rare Earth and Fluorspar Deposit - Seite 2

The power generation trade-off will be followed by a mine-fleet trade-off of electric vs diesel. This trade-off will evaluate capital and operating costs as well as fleet productivity, manpower, and GHG emissions.

A review of the potential sites for the hydromet plant, to be located along the St. Lawrence Seaway, is currently being completed by BBA Inc. and is building upon prior trade-off studies completed by Norda Stelo (formerly Roche). A strong focus is being placed on process residue management, including transport, handling, and storage, to position the Project's operation for the long-term.

To date, the Prefeasibility work completed for the Ashram Project has led to significant advancements compared to the Preliminary Economic Assessment - shorter haul road, higher mineral concentrate grades (>40% rare earth oxide), fluorspar concentrate recovery, reduced tailings footprint, etc. As the Project continues to be de-risked and optimized, 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.

NI 43-101 Disclosure

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 by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news 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 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 (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) 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.