May 08, 2006
Commerce Resources Corp. (TSXv: CCE) (“Commerce”) is pleased to announce that it has entered into a strategic alliance with Fogang Jiata Metals Co. Ltd. (“Jiata”), whereby Jiata will process representative concentrate from Commerce’s upcoming commercial bulk sample. The terms of the strategic alliance will be set forth in a formal agreement to be prepared within 60 days.
The signed letter of intent between Commerce and Jiata for this strategic alliance covers such items as:
a) the collection and delivery of an initial 20 tonnes of tantalum/niobium concentrate,“This alliance with Jiata is significant for Commerce as it is in keeping with our strategy of developing partnerships vertically in the supply chain. The cooperative nature of this information exchange is an important foundation for discussions with respect to long-term supply contracts. Commerce is optimistic that the Blue River tantalum deposits could play an important role in supplying tantalum to the growing Chinese and world markets. ” said David Hodge, President.
b) Jiata to process the concentrate into mutually agreed upon end products, of which Commerce will receive back 50% in total, and
c) the sharing of technical information from the separation process by Jiata to Commerce for the purpose of Commerce completing a pre-feasibility study.
About Fogang Jiata Metals Co. Ltd.(http://www.jiayagroup.com/gywmen.html)
Fogang Jiata Metals Co. Ltd., founded in 1999, has more than 180 employees engaged in the production, marketing and export of tantalum and niobium products for sale to the United States, Hong Kong and mainland China. Jiata is the leading manufacturer of tantalum and niobium products in China and has earned a global reputation from its customers for its technology, high quality products and service. Jiata’s main customers are Cabot Corp. and Ningxia Non-ferrous Metals Smeltery.
About Commerce Resources Corp.
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. Commerce Resources Corp. trades on the TSX Venture Exchange under the symbol “CCE”.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.