June 11, 2008
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (“the Company”) is pleased to announce the start of its 2008 diamond drilling and field work program on the Blue River Tantalum and Niobium Project. The property, wholly owned by Commerce Resources, covers in excess of 1,000 sq. km and is located about 10 km north of the town of Blue River, British Columbia.
The 2008 program has two major thrusts: the first is continued development of the Upper Fir tantalum and niobium deposit towards a pre-feasibility study and the second is to build on the strong results obtained from the 2007 exploration program through geological evaluation and diamond drilling of several new exploration targets.
Upper Fir Development Program 2008
The initial phase of drilling will include two drill rigs and include up to 20,000 m of drilling in 50 holes. The work commenced on June 3, 2008.
With positive results, infill and step out holes on the Upper Fir deposit are targeted to provide sufficient drill density and zone continuity to allow conversion of resources previously identified as inferred into the indicated category.
An application to collect a bulk sample of up to 10,000 tonnes of mineralized carbonatite for the purposes of conducting metallurgical test work also has been submitted to the Ministry of Energy, Mines & Petroleum Resources, and is currently under review.
Regional Exploration Program 2008
Building on the work from the previous exploration, continued mapping, soil and rock sampling, trenching and ground-based geophysics as well as helicopter prospecting and air photo interpretation, will target areas which include the Bone Creek and Howard Creek carbonatites. The regional evaluation is expected to run until October.
Exploration drill targets for this season include: the Switch Creek carbonatite, where 2 holes totaling 400 m were completed last season. One hole intersected carbonatite which graded 238 ppm Ta205 and 1,793 ppm Nb205 over 1.01 m. Up to 15 drill holes are planned for Switch Creek.
A second drill target area is the Lower Gum Creek, an area identified in 2007 by a band of anomalous tantalum and Rare Earth Element (REE) values located to the east of the Upper Fir. This anomaly suggests the presence of a new zone tentatively named the Lower Gum Creek carbonatite. This zone may also be the source of the anomalous stream sediment samples that returned values of 12,903 ppm combined REE’s and up to 6,409 ppm Nb205. Up to 15 drill holes are planned for the Lower Gum Creek zone.
Drilling operations will be performed by Beaupre Diamond Drilling Inc., under the supervision of geologist John Gorham, P.Geol. of Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
Tel: 604 484 2700
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 continued development of the Upper Fir tantalum and niobium deposit towards a pre-feasibility study, completing geological evaluation and diamond drilling several new exploration targets, infill and step out holes on the Upper Fir deposit being targeted to provide sufficient drill density and zone continuity, regional evaluation being expected to run until October, 2008, the drilling of up to 15 drill holes in each of the Switch Creek and Lower Gum Creek areas as well as the suggested presence of a new carbonatite zone in the Lower Gum Creek area.
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.