November 06, 2007
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“the Company”) is pleased to announce that it has doubled the size of its Blue River Property by staking an additional 95 claims totaling about 104,700 acres to the south of the Bone Creek watershed. The claims were acquired for their potential to host additional mineralization, as well as ensuring ownership of mineral tenure under areas where infrastructure for potential mine development may be located. The total size of the Blue River property is now in excess of 1,000 km squared.
The acquisition of the new claims reaffirms Commerce’s commitment to the Blue River Project which is host to several known carbonatites, each with anomalous concentrations of tantalum and niobium.
The acquisition of the new claims was prompted by results from the 2007 exploration program, which led to the discovery of an extensive ultramafic body that outcrops about 12 km to the southeast of the Upper Fir Carbonatite. This dyke-like body is made up of massive to layered pyroxenites and hornblendites (see photos below). The steeply dipping body can be traced over a 6 km strike length, and is at least 400 m thick.
The occurrence of this very large ultramafic intrusion at the Blue River Property is significant due to the diverse styles of mineralization typically associated with these types of intrusions. Ultramafic intrusions can be host to minerals that contain nickel, copper, cobalt, platinum group elements and gold.
Also, the Company has added considerable data for the Howard Creek Carbonatite, which is located within the northeast part of the Blue River Property. Portions of this extensive carbonatite complex form an approximate dip slope, and contain significant titanium bearing minerals (ilmenite, magnetite, titantite) and zircon. This deposit has now been mapped and sampled (with a total of 43 surface rock grab samples) with assays ranging from background concentrations up to 7.00 % Ti02, 8.61 % P205, 4,843 g/t V205, and 3,055 g/t Zr02. Given the occurrence of a diverse array of commodities at the Howard Creek Carbonatite, the Company anticipates conducting additional field work in the area during the summer of 2008. Recently completed logging roads lead to within 1 to 2 km of the Howard Creek Carbonatite.
Jody Dahrouge, P.Geo., director of Commerce Resources and qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp.’s stated goal is to become the world’s next source of tantalum and niobium. Commerce is the most active tantalum and niobium explorer in North America, with a focus on developing its Upper Fir Deposit.
Exploration to date at the Upper Fir deposit has outlined an indicated resource of 8.6Mt with 208.2 g/t Ta2O5 and 1,372.6 g/t Nb2O5 and an inferred resource of 5.5Mt with 208.2 g/t Ta2O5 and 1,349.9 g/t Nb2O5 (Gorham, 2007). 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 Fir is also host to an inferred resource of 6.7Mt with 203.1 g/t Ta2O5, and 1,047 g/t Nb2O5 (Verzosa, 2003). The Verity Deposit, 10 km north of the Fir deposit, is estimated to host an inferred resource of 3.06Mt with 196g/t Ta2O5, 646g/t Nb2O5 and 3.20% P2O5 (McCrea, 2001). Detailed information on both resource estimates for the deposits may be viewed in the Company’s public disclosure on SEDAR.
For further details on Commerce Resources Corp. and the Blue River Tantalum-Niobium Property, visit the corporate website at www.commerceresources.com, or contact Investor Relations at (604) 484 2700 or toll free at (866) 484 2700.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
Tel: 604 484 2700
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include, but are not limited to: the additional properties staked having the potential to host additional mineralization, potential mine development; the Company’s plans to become the world’s next source of tantalum and niobium, developing the Upper Fir deposit into production, as well as being the most active tantalum and niobium explorer in North America. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the Ontario Securities Commission.