|August 21, 2015 - Commerce Resources Corp.
(TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the “Company”) is pleased to
report the completion of a recent round-table session in Kuujjuaq, as
well as a project site visit, attended by several key Inuit
organizations as part of its ongoing community dialogue and information
exchange program. This process is one of many key aspects to be carried
out as part of the ongoing Pre-feasibility Study (PFS) underway for the
Ashram Rare Earth Deposit located in northern Quebec.
The objective of the round-table session was to further the ongoing dialogue between the Company and the community leaders, extend the dialogue to additional community organizations, present the current status of the project in detail, and gather feedback in order to maximize the social, environmental, and economic benefits of the project.
The round-table was well attended, and well received, with the following Inuit organizations present:
The Company intends to follow-up this round-table session with an open-community information exchange and discussion session to continue the dialogue the Company has been engaged in since 2008. The feedback from the community will be incorporated into the overall Project Description to further refine and maximize the social, environmental, and economic benefits.
Project Site Visits
On August 3rd, a site visit to the project was hosted by the Company and attended by the President of Makivik, Jobie Tukkiapik, Makivik’s Mining Liaison, Ron Gordon, the Mayor of Kuujjuaq, Tunu Napartuk, as well as three board members of the Nayumivik Land Holding Corporation of Kuujjuaq, George Peters, George Berthe, and Robbie Kooktook. Mr Peters is also President of the Nunavik Landholding Corporation Association (NLHCA), while Mr Berthe is also the General Manager of the Nunavik Investment Corporation (NIC), as well as being a councillor for the town of Kuujjuaq (NV).
The site visit included a tour of the Ashram Project’s proposed infrastructure sites (tailings management facility options, open-pit and dyke, process plant, haul road, and airstrip), current drill site, and the deposit’s discovery outcrop.
On August 6th, another site visit to the project was also completed with the Naskapi of Kawawachikamach, from the Schefferville area. The visit was attended by the Chief, Noah Swappie, the Cultural Skill Coordinator, and two Elders. The visit was an excellent opportunity to further the ongoing dialogue with the community and will be followed up with a presentation to council, planned to occur this fall.
James Bay and Northern Quebec Agreement (JBNQA) and Northeastern Quebec Agreement (NEQA)
The Ashram Deposit is located in the Nunavik Territory of Quebec which lies within the region covered by the James Bay and Northern Quebec Agreement (JBNQA), and the Northeastern Quebec Agreement (NEQA), which are the first two modern treaties between aboriginal peoples and Canada.
The JBNQA, completed in 1975, is a comprehensive land claims agreement between the aboriginals of Northern Quebec (Cree and Inuit), and Canada (Federal and Provincial). The treaty is heralded as first modern treaty between Canada and its aboriginal peoples. The JBNQA settles aboriginal land claims, and provides for financial compensation to local peoples, outlines harvesting rights, as well as establishes land categories and a mechanism for dialogue, consultation, and resource management.
The signing of the JBNQA also established school boards, re-structured health services, created the Kativik Regional Government (KRG) to deliver public services, and created the Makivik Corporation which is mandated to protect the rights and interests of the Inuit as provided for under the JBNQA.
The Naskapi of Kawawachikamach are a First Nation peoples and signatories to the Northeastern Quebec Agreement (NEQA), completed in 1978. Similar to the JBNQA completed 3 years prior, the NEQA settles Naskapi land claims and defines the rights and interests of the Naskapi, including harvesting rights, as well as providing a mechanism for dialogue, consultation, and resource management.
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 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.
For more information please visit the corporate website at http://www.commerceresources.com
or contact Investor Relations at 604.484.2700 or firstname.lastname@example.org.
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. Forward looking statements in this press release include but are not limited to any references to future meetings and to proposed infrastructure sites as they are preliminary in nature. 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 of labour, 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.