January 12, 2007
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“Commerce”) announces that it has received a total of $2,317,650 from the exercise of 13,570,283 share purchase warrants at a price of $0.18 and $0.12 per share. The warrants were to expire November 25, 2006 (as to 3,351,950), December 6, 2006 (as to 535,000), December 20, 2006 (as to 7,600,000) and January 18, 2007 (as to 2,083,333).
“We would like to thank all of our shareholders for their continued support as the Blue River project develops,” said David Hodge, the President of the Company.
The proceeds received from the exercise of the warrants will be used towards the Company’s continued exploration and development program on its tantalum properties located near Blue River, British Columbia and for general working capital. The Company is well funded in terms of the exploration and development work planned for 2007.
About Commerce Resources Corp.
Commerce Resources Corp. continues to maintain its focus on the development and exploration of its Fir and Verity tantalum and niobium projects in British Columbia, Canada. Commerce 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 196g/t Ta2O5, 646g/t Nb2O5 and 3.20% P2O5 (McCrea, 2001). The Verity deposit, 10 km north of the Fir property, 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. Commerce Resources Corp. trades on the TSX Venture Exchange under the symbol “CCE”.
For further details on Commerce Resources Corp. and the Blue River Tantalum 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.