Commerce Resources Ships First Mixed Sample of REC – 24.2% NdPr

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VANCOUVER, BC / ACCESSWIRE / July 15, 2022 / Commerce Resources Corp. (TSXV: CCE)(FSE: D7H0)(OTCQX: CMRZF) (the “Company” or the “Trade”) is pleased to announce that it has completed its first shipment of an earth carbonate concentrate sample Rare Earth Elements (“REC Mixed”) to a major global producer of Rare Earth Elements (“REE”) for evaluation. The sample (quantities in grams) meets typical market specifications and was produced as part of the company’s continued scaling up to larger quantities in kilograms.

The sample follows the initial gram quantities of mixed REC sample produced by the company, announced on March 23rd2022. The Company is pleased to report that the new sample has a neodymium (Nd) plus praseodymium (Pr) distribution – i.e. % Nd+Pr oxide of total rare earth oxide ( “REO”) – from 24.2%, which is significantly higher than that reported by several major world producers, and that of previous samples produced (21.6% and 22.4% NdPr). Additionally, the mixed REC sample grades 53.9% REO, with 1.0 ppm Th, and

The Company has now produced several bench scale samples of blended REC concentrates to market specifications, with NdPr distributions ranging from 21.6% to 24.2%. The strong NdPr distributions that characterize these Ashram samples rank among the highest in the world for mixed non-cerium-depleted REC concentrates and exceed those of several major global producers. These samples were produced with the company’s conventional scheme developed at Hazen Research, CO, in which several process operations were demonstrated at a continuous pilot level. The company is currently in the process of scaling up the process to achieve kilogram quantities of blended REC concentrate to deliver to additional third-party processors upon their request.

The mixed REC sample recently delivered to the third-party producer (Figure 1) was produced from Ashram’s rare earth and fluorspar deposit using a conventional recovery processing scheme, resulting in by a high-grade monazite concentrate exceeding 40% REO. The monazite concentrate was treated by sulfuric acid pot digestion, to crack the monazite, which was then followed by water leaching to liberate the individual REEs in solution at high yield (98% for NdPr in sulfuric acid + water leaching stage – see press release of September 9e, 2021). The thorium was then selectively removed by solvent extraction and the REEs were then isolated – also by solvent extraction – and precipitated as a mixed REC concentrate, meeting typical market specifications.

In the rare earth industry, a blended REC concentrate is generally considered the initial marketable product in the rare earth value chain. A mixed REC is readily marketable as it is the most common feedstock for REE solvent extraction facilities worldwide, which separate individual REEs and allow them to be individually refined into marketable products and released. in downstream value chains.

Commerce Resources Corp., Thursday, July 14, 2022, press release photo

Figure 1: Sample of marketable mixed rare earth carbonate, with NdPr distribution of 24.2%, produced from the Ashram deposit and shipped to the global producer for evaluation

About the Ashram Depot

The Ashram deposit is one of the largest REE (and fluorspar) deposits in the world, consisting of a single monazite-dominated ore body outcropping at surface, and has a footprint of approximately 600m along direction, more than 300 m in diameter and 600 m in depth, remaining open in several directions. The deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% OTR and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (effective date 5 Julye, 2012). Note that Mineral Resources are not Mineral Reserves because they have not demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

NI 43-101 Disclosure

Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., licensed by the Ordre des gologues du Québec and qualified person as defined in National Instrument 43-101 – Disclosure standards for mining projectssupervised the preparation of the technical information contained in this press release.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram rare earths and fluorspar deposit located in Quebec, Canada. The Company is positioning itself to be one of the lowest cost rare earth producers in the world, with a particular focus on being a long-term supplier of rare earth mixed carbonate and/or NdPr oxide on the global market. The Ashram deposit is characterized by a simple mineralogy of rare earths (monazite, bastnaesite, xenotime) and gangue (carbonates), a large tonnage resource at favorable grade, and has demonstrated the production of high-grade mineral concentrates (> 45% OTR) with high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits in the world, Ashram is also one of the largest fluorspar deposits in the world and has the potential to be a long term supplier to the mixed spar markets. and acids.

For more information, please visit the company’s website at or email [email protected].

On behalf of the Board of Directors


chris grove

chris grove
President and Director
Tel: 604.484.2700
E-mail: [email protected]

Neither the 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.

Forward-looking statements

This press release contains forward-looking statements, which include any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this press release include that we plan to increase our production of blended RECs; that mixed RECs are easily salable; that Ashram is one of the largest fluorspar deposits in the world and has the potential to become a long-term supplier to the metspar and acid spar markets; and that the Company is positioning itself to be one of the cheapest producers of rare earth elements in the world. 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. The risks that could change or prevent these events, activities or developments from occurring include: that we may not be able to fully fund any further exploration at the Ashram Project; that even if we are able to raise capital, the costs of exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programme; drilling-based geological interpretations which may change with more detailed information; potential processing methods and mineral recovery assumptions based on limited test work and by comparison to what are believed to be similar deposits which, with other test work, may not be comparable; tests of our process may not prove to be successful or future samples derived from the Ashram Project may not yield positive results, and even if such tests are passed or initial sample results are positive, the economic and other results may not be as expected; the availability of labor and equipment to undertake future exploration work and testing activities; geopolitical risks that may cause market and economic instability; and notwithstanding the anticipated current viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered at the Ashram Project, the Project may not be commercially viable; The forward-looking statements contained in this press release are made 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.

THE SOURCE: Commerce Resources Corp.

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