February 17, 2005
Commerce Resources Corp. (the “Company”) announces it has acquired a 100% interest in the Mud Lake Property. The Mud Lake Property consists of eight claims covering approximately 2,081ha and is host to the southernmost known carbonatite in the Blue River area: the Mud Lake/AEG carbonatite. The acquisition reaffirms the Company’s commitment to the exploration and development of its Blue River tantalum and niobium deposits.
The Blue River occurrences are part of a broad zone of carbonatites that follow the Rocky Mountain Trench. They are located within the Omineca Belt and more precisely within the northeastern margin of the Shuswap Metamorphic Complex. The major outcrop at the AEG occurrence has been traced for over 150 meters along strike and has a maximum thickness of greater than 4 meters. Due to limited prior exploration, the size potential of the mineralized intrusive remains unknown. The Company believes the Mud Lake Carbonatite warrants further exploration.
In consideration for the 100% interest in the Mud Lake Property, the Company will pay Ryan Grywul $13,200.
About Commerce Resources Corp.
The Company continues to maintain its focus on the development and exploration of its Fir and Verity tantalum and niobium projects covering 49 square kilometers in British Columbia, Canada. The Company is one of the most active tantalum explorers in North America, conducting detailed exploration of its Fir and Verity deposits. Exploration to date at the Fir deposit has outlined an indicated resource of 5.65Mt with 203.1g/t Ta2O5 and 1,047g/t Nb2O5 (Verzosa, 2003). The Verity deposit, 10 km north of the Fir property, is host to an estimated inferred resource of 3.06Mt with 196g/t Ta2O5, 646g/t Nb2O5 and 3.20% P2O5 (McCrea, 2001). Commerce Resources Corp. trades on the TSX Venture Exchange under the symbol “CCE”.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.