September 05, 2006
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“the Company”) announces that it has engaged Mineral Development Advisory Group Inc., (“MINDEV”) to facilitate development of the Blue River Tantalum-Niobium Project located in eastern British Columbia. MINDEV is a consultancy focused on exploration projects requiring advanced geological, engineering, environmental and financial services to develop assets through to feasibility and production. MINDEV will oversee the Company’s scoping and pre-feasibility studies, as well as supervise the environmental assessment and permitting activities contracted to Gartner Lee Ltd.
Mr. Mark Reynolds of MINDEV joins Mr. Charles Pitcher, P.Eng. of MINDEV, Mr. Jeff Austin, P.Eng. (see February 22, 2006 announcement), and Mr. Alexander Gagarin of KazAtomProm (see August 21, 2006 announcement) on the Company’s Advisory Board. Mr. Reynolds has over twenty years experience in mining and finance, having worked as an investment advisor concentrating his activities on the financing and development of numerous natural resource companies including Western Canadian Coal Corp. (TSX: WTN) and Niko Resources Ltd. (TSX: NKO). Mr. Reynolds has developed and maintains strategic relationships with numerous contacts within the international institutional and brokerage communities.
These key appointments to the Advisory Board, underscore the Company’s successful execution of development plans to date, and are in accordance with Commerce’s long term objectives. “I look forward to working closely with the Mineral Development Advisory Group. Their experience and industry background will help us more aggressively exploit the excellent opportunity for fast-track development at our Blue River Tantalum-Niobium Project,” said Company President David Hodge.
About Commerce Resources Corp. (http://www.commerceresources.com)
Commerce Resources Corp. is focused 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 Fir is also host to an inferred resource of 6.7Mt 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). Detailed information on both resource estimates may be viewed in the company’s public disclosure on SEDAR.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.