April 22, 2008
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“the Company”) is pleased to announce the appointment of Dr. Axel Hoppe, of Salzgitter, Germany, as Chairman of the Board of Directors.
For 29 years, Dr. Hoppe has held numerous positions with H.C. Starck GmbH (“HCST”): an international group of companies with more than 3,400 employees at 13 production sites in Europe, North America and the Far East. Dr. Hoppe’s last position at HCST was Head of Technical Services and Engineering Group and in addition he was a Member of the Executive Board. He was responsible for all sites worldwide.
Under Dr. Hoppe’s previous leadership as Head of the Electronics and Optics Business Group, HCST has grown into the leading producer of tantalum and niobium products, and remains one of the world’s largest consumers of tantalum raw materials.
During his time in senior management, Dr. Hoppe also worked in the fields of other refractory metals, such as tungsten, molybdenum, and rhenium.
From 1997 until 2007, Dr. Hoppe served as member of the Executive Committee of the Tantalum-Niobium International Study Center (“TIC”): an international association which promotes tantalum and niobium metals, and includes representatives from all segments of the tantalum and niobium industries. In addition, Dr. Hoppe was the President of the TIC in 2002 and 2007.
Dr. Hoppe: “When I first heard about Commerce Resources, I was impressed with the potential of their tantalum and niobium deposits and the positive impact it might have in stabilizing the supply chain for the tantalum industry. Now I was offered the chance to contribute to the company in developing the deposits into a producing mine. I’m glad to become a member of the management team in order to help Commerce Resources to become a world class producer of concentrate.”
Company president David Hodge stated, “We are extremely happy to have Dr. Hoppe join our team. His many years of experience in the industry will move us into the next phase of our development. With his chairmanship, our Upper Fir deposit, and our solid financial foundation, Commerce is in a strong position to move forward into the next phase of our development.”
About Commerce Resources Corp.
Commerce Resources Corp.’s stated goal is to become the world’s next source of tantalum and niobium. Commerce is an active tantalum and niobium explorer in North America, with a focus on developing the Upper Fir Deposit in British Columbia and the Eldor Deposit in Quebec.
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 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
The TSX Venture Exchange has neither approved nor disapproved the information contained herein
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 statements regarding the potential of the Company’s tantalum and niobium deposits and their impact on the supply chain for the tantalum industry, the Company becoming a world class producer of tantalum concentrate, the Company being in a strong position to move forward into the next phase of development, plans to become the world’s next source of tantalum and niobium as well as developing the Upper Fir and Eldor deposits. These statements are made based on our findings on the property to date.
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 British Columbia Securities Commission.