Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce that it has been awarded a grant totaling $300,000 from the Fonds de recherche du Québec - Nature et technologie (FRQNT) and the Ministère de l’Énergie et des Ressources naturelles (MERN). These funds will be directed to the optimization of tailings management for the Ashram Rare Earth Element Deposit in Quebec.
Company President Chris Grove says, “I would like to thank the Province of Québec for their support of our efforts in regards to the environmental management and sustainability of our Ashram Project.”
The scope of this work will include characterization of the various tailings streams (liquid and residue) of the Ashram process flowsheet, as well as methods of recycling and/or managing these streams throughout the life of operation. A complete characterization of tailings material is an essential component for proper design and maintenance of the tailings management facility. In addition, the processing of the fluorspar concentrate (i.e. rare earth concentrate tailings) to acid-grade fluorspar will be included in the mandate, as the effectiveness of this upgrade will have a large impact on the final tailings material components.
This work will be completed in partnership with the Centre Eau Terre Environnement of the Institut national de la recherche scientifique (INRS), a research-oriented branch of the Université du Québec, which has considerable experience in environmental management and sustainability. The grant program is offered jointly through the Fonds de recherche du Québec - Nature et technologie (FRQNT) and the Ministère de l’Énergie et des Ressources naturelles (MERN), and will be applied over a three-year period.
The Federal and Quebec governments are actively supporting the advancement of clean/green technologies and renewable energy resource development as Canada transitions to a lower-carbon economy. This is demonstrated through various ongoing grant programs available at both the federal and provincial levels, as well as being recently highlighted by the legally binding, global climate change framework agreement from COP21 in Paris. An essential component of these clean/green technologies are magnets manufactured from REEs.
The results of the programs described in this news release will be incorporated, along with other necessary technical data including geological and engineering studies, into the ongoing Pre-feasibility Study, with costs and benefits to be described in more detail therein.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About the Institut national de la recherche scientifique (INRS)
The Institut national de la recherche scientifique (INRS) is a research oriented branch of the Université du Québec, and is dedicated to fundamental and applied research, graduate studies, and the training of researchers. The INRS is comprised of four research centers focusing on environmental sustainability, advanced technologies, health, and social sciences, with locations in Quebec City, Laval, Montreal, and Varennes.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements.The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum and Niobium Deposit in British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. For example forward looking statements in this press release include and are not limited to the statements that the planned work will be completed over three years; any indication that the tailings facility will be built and that the results will be incorporated into the Pre-feasibility Study. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability oflabour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.