Commerce Resources Corp. Completes Final Hole of its 2022 Drill Program at the Ashram Rare Earth and Fluorspar Deposit, Quebec

VANCOUVER, BC / ACCESSWIRE / September 8, 2022 / Commerce Resources Corp. (TSXv:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to provide an update on its ongoing 2022 drill program at the Company's wholly owned Ashram Rare Earth and Fluorspar Deposit, located in Nunavik, Quebec.

The Company has recently completed its twelfth (12) and final drill hole of its 2022 program at the Ashram Deposit, with a total of approximately 2,760 m completed (Figure 1). The drill holes were completed - for deposit delineation - at various orientations and locations with pre-determined end-of-hole depths ranging from approximately 50 m to 410 m core length.

The first two (2) drill holes (EC22-194 and 195) were completed as step-outs at the southern end of the deposit to improve the confidence of the geological model in this area and extended the mineralized footprint at Ashram an additional ~100 m to the southeast (see news release dated August 12^th, 2022). An additional four (4) drill holes (EC22-204, 205, 206, and 207) were completed at the southern end of the deposit to further constrain the geological model and probe the deposit's southern contact. The remaining six (6) drill holes (EC22-196, 197, 198, 198A, 199, and 200) were completed as resource infill with the objective of increasing confidence from the inferred/indicated categories to the indicated/measured categories within the anticipated Prefeasibility pit shell where the neodymium-praseodymium ("NdPr") contents are highest. Depending on the location within the deposit, the NdPr distribution - i.e. % of Nd+Pr oxide of the total rare earth oxide ("REO") - typically varies from 21-24+% with monazite being the dominant carrier of the rare earth elements ("REEs").

Processing of the 2022 drill core is ongoing at site with samples collected shipped to Activation Laboratories in Ancaster, ON, for geochemical analysis. Analytical results are pending for all core samples from the 2022 drill program. As the drill holes are fully logged and sample analysis are received, the geological model will be refined.

The 2022 drill hole plan was developed by the Company's principal Prefeasibility Study consultant (BBA Inc.) with a primary objective to infill a larger pit shell (~+50%) compared to what was considered in the Project's 2012 Preliminary Economic Assessment. This larger pit shell is anticipated to underpin an initial mineral reserve estimate upon completion of the Prefeasibility Study for the Project.