News Release: Start of Winter Drill Program at Eldor's Ashram Rare Earth Zone


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Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) announced that it has begun mobilizing field crews in advance of the 2011 winter/spring drill program at the Ashram Rare Earth Element (“REE”) Zone located at the Eldor Property in northeastern Quebec.

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News Release: Start of Winter Drill Program at Eldor's Ashram Rare Earth Zone

  1. 1. Commerce Resources Corp. Resumes Work at Ashram Rare Earth Zone, Eldor Property, QuebecMarch 1, 2011 - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF)(the “Company” or “Commerce”) is pleased to announce that it has begun mobilizing field crewsin advance of the 2011 winter/spring drill program at the Ashram Rare Earth Element (“REE”)Zone located at the Eldor Property in northeastern Quebec.The drill program will include a minimum of six, vertical, core holes totalling 3,000 metres witha drill rig capable of attaining depths in excess of 600 metres. Drill holes will be completed fromice over the Centre Pond on an approximately 200-metre spaced grid. A map showing thelocations of the proposed drill holes will be posted on the Company’s website at: date, REE mineralization at the Ashram Zone has been defined by twelve holes over an areameasuring in excess of 650 metres east-west, by 350 metres north-south, to depths of 365 metreswith the majority of holes bottoming in mineralization. Mineralization at the Ashram Zoneremains open to the north, south, east, at depth, and is not fully constrained to the west. The zoneis located near the centre of the Eldor Carbonatite Complex and is coincident with a magneticlow which measures approximately 1 kilometre by 0.8 kilometres in size.Based on the results of the first twelve holes, SGS Geostat Ltd. of Montreal, Quebec is in theprocess of completing an initial NI 43-101 compliant resource estimate for the Ashram Zone;with an anticipated completion date of early March.Drilling is scheduled to begin March 2nd and, in the event that favourable drill conditions persistbeyond the completion of the first six drill holes, will continue as long as weather permits.The Eldor Property encompasses 19,006 hectares and, in addition to the Ashram REE Zone, ishost to several other niobium, tantalum, phosphate and REE targets. Altogether in 2010, 21 drillholes totalling 5,389.98 metres were completed across the property as well as regionalprospecting, trenching and soil sampling.
  2. 2. 2010 Niobium, Tantalum, Phosphate and REE Exploration Drilling ResultsThe bulk of the 2010 drilling was completed at the Ashram Zone (12 holes totalling 3,312.67metres) with nine other holes targeting separate niobium, tantalum and phosphate targets, as wellas, a unique zone of REE mineralization.The Company has now received all of the analytical results for the 2010 holes drilled outside ofthe Ashram Zone at three separate target areas, as follows:Southeast Zone 4 holes (1391.65 m)Star Trench Area 3 holes (493.66 m)MC Exposure Area 2 holes (192.00 m)At the Southeast Zone, all holes intersected significant intervals of niobium and phosphatemineralization. Results include some of the widest and highest grades of niobium thus farencountered at the property, including: • EC10-032: 0.43% Nb2O5 over 155.95 metres including 0.71% Nb2O5 over 15.33 metres • EC10-033: 0.58% Nb2O5 over 74.25 metres including 0.85% Nb2O5 over 19.54 metresCarbonatites can host multiple commodities; notable examples include the Palabora Complex(Cu, Fe, P, Zr, U, Vermiculite) in South Africa, Araxa (Nb) in Brazil, Niobec (Nb) in Quebecand Cargill (P) in Ontario. Iamgold’s Niobec Niobium Mine in Quebec is hosted by a carbonatiteand is one of the world’s largest primary niobium producers with proven and probable reservesof 32.09 MT at 0.56% Nb2O5.At the MC Exposure Area, REE mineralization was encountered in two holes, furtherhighlighting the potential for additional REE discoveries outside of the Ashram Zone. Highlightsinclude: • EC10-037: 1.08% total rare earth oxides (“TREO”) over 18.94 m including 1.73% TREO over 7.87 metresThe MC Exposure Area is located more than 4.8 kilometres east-southeast of the Ashram Zoneand is situated within a regional magnetic low. The drilled area is located near the southeastextremity of a soil geochemical anomaly which extends for more than 4 kilometres in length.A map showing the location of all of the drill holes drilled outside of the Ashram Zone will beposted on the Company’s website at:
  3. 3. Further highlights from the drilling outside of the Ashram Zone are as follows: Hole From To Width Nb2O5 Ta2O5 P 2O 5 TREO (m) (m) (m) (%) (g/t) (%) (%) Southeast Zone EC10-032 55.10 211.05 155.95 0.43% - 5.38% 0.31 (incl.) 55.10 70.43 15.33 0.71% - 6.55% 0.38 EC10-033 4.22 78.47 74.25 0.58% - 8.91% 0.47 incl. 4.22 25.57 21.35 0.72% - 9.60% 0.51 incl. 58.93 78.47 19.54 0.85% - 8.88% 0.48 EC10-040 144.68 178.61 33.93 0.48% 330 7.22% 0.35 incl. 250.48 256.32 5.84 1.09% - 9.84% 0.55 EC10-041 48.81 105.47 56.66 0.40% - 5.69% 0.34 incl. 213.79 226.06 12.27 0.41% 240 6.38% 0.31 MC Exposure Area EC10-037 29.56 48.50 18.94 - - - 1.08% incl. 29.56 37.43 7.87 - - - 1.73% EC10-038 11.67 18.20 6.53 - - - 1.30% Star Trench Area EC10-034 51.00 57.13 6.13 0.26% 400 6.90% - EC10-035 90.33 95.67 5.34 0.35% 430 4.37% - EC10-036 59.91 60.54 0.63 0.44% 590 14.03% -All samples were analyzed by Activation Laboratories of Ancaster, Ont. using its Method 8 -major oxide, rare earths and trace element package by fusion ICP and ICP/MS. The four mostabundant REEs that constitute the TREO reported in this news release are: Cerium,Lanthanum/Neodymium and Praseodymium. TREO refers to the sum of Lanthanum throughLutetium plus Yttrium, reported as oxides. As the orientation of the mineralization zones areuncertain, drilled thickness is not necessarily true thickness.Grant of OptionsThe Company also announces that it has granted a total of 2,705,000 incentive stock options todirectors, officers and consultants. Subject to the acceptance of the TSX Venture Exchange, eachstock option is exercisable into one common share of the Company at a price of $0.81 per sharefor a period of five years.
  4. 4. NI 43-101 DisclosureDarren L. Smith, M.Sc., P.Geol., 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 focuson tantalum, niobium and rare earth element deposits with a potential for economic grades andlarge tonnages.For more information please visit the corporate website at http://www.commerceresources.comor contact Investor Relations at 1.866.484.2700 or Behalf of the Board of DirectorsCOMMERCE RESOURCES CORP.David HodgePresident and DirectorTel: 604 484 2700TF: 866.484.2700Email: info@commerceresources.comWeb: 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.Forward Looking StatementsThis news release may contain forward-looking information and is subject to a variety of risks and uncertainties andother factors that could cause actual events or results to differ from those projected in the forward-lookingstatements. Forward looking information is based on the opinions and estimates of management and its consultantsat the date the information is given. It is subject to a variety of risks and uncertainties and other factors that couldcause actual events or results to differ materially from those projected in the forward-looking information.Information is based on reasonable assumptions which include but are not limited to the timing and content of theresource estimate on the Eldor Property, upcoming work programs as well as geological interpretations of the EldorProperty. Forward-looking statements address future events and conditions and therefore involve inherent risks anduncertainties. Actual results may differ materially from those currently anticipated in such statements.The forward-looking information contained herein is given as of the date hereof and the Company assumes noresponsibility to update or revise such information to reflect new events or circumstances, except as required by law.