Commerce Resources Corp. announces a large indicated resource at the Upper Fir Tantalum and Niobium Deposit, Blue River, B.C. Highlights include: * AMEC has determined a base case Indicated mineral resource of 36.35 million tonnes containing 195 ppm (gpt) Ta2O5 and 1,700 ppm (gpt) Nb2O5. Base case Inferred mineral resources are 6.40 million tonnes containing 199 ppm (gpt) Ta2O5 and 1890 ppm (gpt) Nb2O5. * AMEC concludes that the 2009 work program has markedly improved the interpretation of the geology of the Upper Fir tantalum- and niobium-bearing carbonatite, which in turn has resulted in an increase in confidence and size of the deposit. * The selected base case resource model provides the foundation for the Preliminary Economic Assessment (“PEA”), which is ongoing under the direction of AMEC and which once completed, will provide the basis for a separate news release.

1. Commerce Resources Corp.’s Upper Fir Tantalum and Niobium Deposit Confirmed
as a Large Indicated Resource, Blue River, B.C.
Highlights
• AMEC has determined a base case Indicated mineral resource of 36.35 million tonnes containing
195 ppm (gpt) Ta2O5 and 1,700 ppm (gpt) Nb2O5. Base case Inferred mineral resources are 6.40
million tonnes containing 199 ppm (gpt) Ta2O5 and 1890 ppm (gpt) Nb2O5.
• AMEC concludes that the 2009 work program has markedly improved the interpretation of the
geology of the Upper Fir tantalum- and niobium-bearing carbonatite, which in turn has resulted in
an increase in confidence and size of the deposit.
• The selected base case resource model provides the foundation for the Preliminary Economic
Assessment (“PEA”), which is ongoing under the direction of AMEC and which once completed,
will provide the basis for a separate news release.
February 2, 2011 - Commerce Resources Corp. (TSXv: CCE; FSE: D7H; OTCQX: CMRZF) is
pleased to announce that as part of the ongoing Preliminary Economic Assessment (“PEA”), AMEC has
completed a new National Instrument 43-101 compliant resource estimate for the Upper Fir Tantalum-
Niobium Deposit, at its Blue River Project in British Columbia. The Blue River Project is located near the
village of Blue River, which is approximately 250 km north of the city of Kamloops and approximately
90 km south of the town of Valemount.
AMEC used a total of 183 drill holes comprising 37,446 metres of HQ drill core and 8,218 sawn core
samples to develop the mineral resource estimate. Most holes were at a nominal spacing of 50m with dips
typically between -60 to sub-vertical. Indicated mineral resources total 36.35 million tonnes containing
195 ppm Ta2O5 and 1,700 ppm Nb2O5 and Inferred mineral resources total 6.40 million tonnes containing
199 ppm Ta2O5 and 1,890 ppm Nb2O5.
Table 1: Blue River Project Estimated Mineral Resources. Effective Date 30 June, 2010. Tomasz
Postolski, P.Eng, Qualified Person
Confidence Tonnes Ta2O5 Nb2O5 ContainedTa2O5 ContainedNb2O5
Category [ppm] [ppm] [1000s of kg] [1000s of kg]
Indicated 36,350,000 195 1,700 7,090 61,650
Inferred 6,400,000 199 1,890 1,300 12,100
1. Assumptions include US$317/kg Ta, US$46/kg Nb, 65.4% Ta2O5 recovery, 68.2% Nb2O5 recovery,
US$32/tonne mining cost, US$17/tonne process and refining cost. Mining losses = 0% and dilution = 0%.
2. Mineral resources are amenable to underground mining methods and have been constrained using a “Stope
Analyzer”.
3. An economic cut-off was based on the Ta and Nb values per block which is variable based on the location of
blocks used in the mineral resource estimate. A block unit value cut-off ranged from $52 to $59.

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4. Discrepancies in contained oxide values are due to rounding.
5. In situ contained oxide reported.
The mineral resource estimate is supported by a base case price assumption of US$317/kg Ta, which is
significantly higher than historic average prices. Market analysts are in general agreement that current
political and market conditions support the probability of sustained higher prices, but this may not occur.
Table 2 below shows the sensitivity of the Blue River mineral resources to tantalum metal price.
Sensitivities are based on a fluctuating metal price but could also represent fluctuating mining or
processing costs or metallurgical recoveries or a combination of all of these factors.
Table 2: Blue River Project Sensitivity of Estimated Mineral Resources to Tantalum Price:
Effective Date 30 June, 2010, Tomasz Postolski, P.Eng, Qualified Person
Ta price Confidence Tonnes Ta2O5 Nb2O5 ContainedTa2O5 ContainedNb2O5
[US$/kg] Category [ppm] [ppm] [1000s of kg] [1000s of kg]
470 Indicated 51,130,000 188 1,410 9,610 72,300
Inferred 8,100,000 192 1,700 1,600 13,800
381 Indicated 44,430,000 192 1,530 8,530 68,020
Inferred 7,300,000 196 1,780 1,400 13,000
317 Indicated 36,350,000 195 1,700 7,090 61,650
Inferred 6,400,000 199 1,890 1,300 12,100
272 Indicated 29,990,000 197 1,850 5,910 55,480
Inferred 5,500,000 201 2,010 1,100 11,100
238 Indicated 25,130,000 197 2,000 4,950 50,240
Inferred 4,900,000 202 2,110 1,000 10,400
1. Ta price was varied and all other assumptions remain the same as base case.
2. Base case is in bold.
3. Mineral resources are amenable to underground mining methods and have been constrained using a “Stope Analyser”.
4. Discrepancies in contained oxide values are due to rounding.
5. In situ contained oxide reported.
To assess reasonable prospects for economic extraction, AMEC considered the concept of mining the
Blue River Deposit using variations of room and pillar methods under a conceptual scenario that
considers mining and processing at a rate of 7,500 tonnes per day. Mining and economic parameters were
adjusted based on AMEC’s experience with analogous deposits and mining methods. Economic viability
of the mineral resource can only be demonstrated by Pre-Feasibility and Feasibility Studies, and there is
no assurance that the stated resources can be upgraded in confidence and converted to mineral reserves.
Further, since underground mining methods are envisioned (room and pillar or variants), the mining
recovery may vary from 65% to 85% depending on the success in which pillars can be mined on retreat
and/or fill is utilized.

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AMEC has concluded that the 2009 work program resulted in a marked improvement in the interpretation
of the geology of the Upper Fir tantalum- and niobium-bearing carbonatite, which in turn has resulted in
an increase in confidence and size of the deposit.
The resource comprises a series of sill-like carbonatite bodies with up to 91.2m in estimated cumulated
true thickness. The composite body extends more than 1,450m in a north-south direction and as much as
800m in an east-west direction. Tantalum and niobium are contained in the minerals ferrocolumbite and
pyrochlore.
Preliminary results from 54 holes, totalling 12,949m of HQ drill core, drilled in 2010 were provided to
AMEC for review after completion of the resource estimation. Only lithological information from these
holes was available. Assays for these holes are expected in the second quarter 2011. The results from
2010 drilling will be used as a basis for an updated resource estimate once received. The Company's focus
is on the Blue River PEA currently being completed under the direction of AMEC.
The Upper Fir Deposit would be mined underground using room and pillar with backfill in most areas. A
mineral processing method using a standard-grind flotation process to make a concentrate of ferro-
columbite-pyrochlore is assumed for the Upper Fir material. The proposed process is similar to that being
used commercially at Iamgold’s Niobec Mine in Quebec. The concentrate would be further processed to
produce marketable separate oxides of tantalum and niobium. The proposed processes are mature and
already in use industrially.
The Blue River Project covers 105,373 hectares (1,000 km2). Power transmission lines, rail, and paved
and gravel roads are all adjacent or within the property boundaries. Transalta Corp.’s 18 MW Bone Creek
run-of-river hydroelectricity project is under construction near the project and is expected to be in
production in 2011.
Resource Classification and Methodology
Mineral resources were classified in accordance with the 2005 CIM Definition Standards for Mineral
Resources and Mineral Reserves, incorporated by reference into NI 43-101. The resource model was
constructed inside carbonatite using 183 diamond drill holes and an average specific gravity of 3.01
assigned to all blocks in carbonatite. Based on a grade drill hole spacing study, AMEC established the
following criteria for classification of mineral resources at Blue River with eighty percent of the
carbonatite blocks classified as Indicated, and fourteen percent classified as Inferred.
Indicated mineral resources are those where blocks contain at least two holes, where the average distance
between the closest composites is less than 50m and the distance to the second closest composite is less
than 70m. Inferred mineral resources are those where blocks contain at least one hole and the distance to
the closest composite is less than 110m.
Assay data were statistically analyzed and as a result Ta2O5 was capped at 1,000 ppm and Nb2O5 was
capped at 10,000 ppm. Capped drill core assays were composited down the hole to a fixed length of 2.5m
honouring geological boundaries. The coefficients of grade variation are low and support the use of linear
grade interpolation methods such as kriging or inverse distance methods.
Ta2O5 and Nb2O5 were estimated using ordinary kriging (OK) and inverse distance to power 3 (ID3)
interpolation methods for the carbonatite domains. Additional Nb2O5 mineralization, which immediately
surrounds the carbonatite domains, is not included as there is insufficient data for interpolation of the unit.
Nearest Neighbour (NN) validation models for Ta2O5 and Nb2O5 were prepared with the same searches
used for the OK and the ID3 models. A comparison of global means of capped and uncapped OK and ID3
models showed the amount of metal removed by capping is minor. Swath plot checks using only
indicated blocks show there are no local biases for estimated Ta2O5 or Nb2O5 present in either OK or ID3

4. -4-
models. The ID3 model was chosen for tabulating the Blue River mineral resources as the OK model is
considered too smooth.
Market Study
Commerce has prepared analyses of the markets which outline demands by producers and end users of
tantalum and niobium. The tantalum analysis was prepared by a tantalum market expert, although he is
not independent of Commerce. His analysis reflects the general consensus of other analysts regarding the
tantalum market expressed in publicly available information. The niobium analysis was prepared by an
independent niobium expert and also reflects the general consensus of analysts, in publicly-available
information, for the niobium market.
As the project is still at an early evaluation stage, Commerce has not initiated requests from potential
buyers for expression of interests in the proposed Blue River products and has not negotiated any
purchase or off-take agreements.
End Products and Base Case Metal Pricing
The processes proposed for the Blue River Project will produce 99.9% pure tantalum and niobium oxides.
These products are generally sold under contract and the prices are carefully guarded to provide
competitive advantages.
Tantalum
Tantalum is commonly quoted in two separate forms:
• Ta2O5 in tantalite concentrate: a non-refined, tantalum-bearing concentrate of variable
composition and trace element content
• Tantalum metal scrap (99.9% pure Ta): this form of tantalum product receives a premium price
in the market relative to tantalite concentrate
Over the last six years, tantalite concentrate prices ranged from US$75/kg contained Ta2O5 to US$100/kg
contained Ta2O5 (US$34/lb to US$45/lb). In the same period tantalum metal scrap prices ranged from
US$110/kg Ta to US$180/kg Ta metal (US$50/lb to US$82/lb).
In 2010, prices rose dramatically in response to numerous conditions including reduced production,
increased concerns about conflict-tantalum production in Africa, depletion of known strategic stockpiles
and curtailed exports from China. In mid-October 2010 the price for Ta2O5 in tantalite concentrate was
US$195/kg (US$89/lb) and for tantalum metal scrap was US$280/kg (US$127/lb).
The higher price for tantalum metal scrap compared to the price for Ta2O5 in concentrate is considered a
proxy to the added value Commerce should recognize by refining the Blue River concentrate to high
purity Ta2O5.
In AMEC’s opinion, the base case price for tantalum metal scrap is reasonable for constraining mineral
resources based on recent market conditions, but notes it is significantly higher than historical prices.
There is a risk that using current price assumptions at, or near the peak of the commodity cycle may
overstate the long-term value of the Mineral Resources.

5. -5-
Niobium
Niobium generally trades as Nb metal or ferroalloy and the price has remained relatively constant at
US$44.08/kg (US$20/lb) Nb over the last several years. A base case price of US$46/kg Nb (US$21/lb)
metal was assumed.
AMEC’s Comment on Price Assumptions
The cut-off grade assumptions at US$317/kg (US$144/lb) tantalum metal and US$46/kg (US$21/lb)
niobium metal are slightly more optimistic than current price assumptions of US$280/kg (US$127/lb)
tantalum metal price and US$44/kg (US$20/lb) Nb metal price. This allows for the capture of mineral
resources that would likely be excluded in reserve estimation.
2011 Work Program
Based on project-related activities and cash on hand, Commerce is fully funded to complete all studies
recommended in 2011. For this year, Commerce intends to further expand the knowledge of the deposit
with additional closer-spaced diamond drilling. A program of advanced metallurgical testing and more
detailed engineering is also planned. Details will follow based on recommendations arising from AMEC’s
PEA.
“The AMEC Resource Estimate for the Upper Fir Tantalum-Niobium Deposit reported today is further
confirmation of Commerce’s belief that we are in the process of building a very important long-term
source of ethical tantalum,” said Dave Hodge, Commerce’s President. “Results remain pending for
additional drilling completed in 2010, and we are eagerly awaiting the results of AMEC’s PEA, which is
based on drilling to the end of the 2009 field season. All indications are that we will be able to enhance
even further the quality of the resource. Of necessity, the impending PEA is based on conservative
pricing. However, recent developments in global tantalum and niobium markets suggest significant near
term upside”.
NI 43-101 Disclosure
Albert Chong, Senior Geologist, P.Geo and Tomasz Postolski, Senior Geostatistician, P.Eng are the
employees of AMEC Americas Limited and are Qualified Persons responsible for the mineral resource
estimate above. Mr. Chong completed a site visit during the 11-16th of July 2010, and Mr. Chong and Mr.
Postolski have read and approved the contents of this news release with respect to the resource estimate.
Jody Dahrouge, B.Sc., P.Geol., a Qualified Person as defined by National Instrument 43-101, read and
approved the disclosure of the technical information in this news release with respect to the exploration.
A Technical Report compliant with National Instrument 43-101 standards describing the resource
estimation and providing details of the 2009 drilling and sampling as well as the associated QAQC review
will be filed on SEDAR (www.sedar.com) within 45 days.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on
tantalum, niobium and rare metal deposits with potential for economic grades and large tonnages. The
Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in
British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in
northern British Columbia.

6. -6-
For more information please visit the corporate website at http://www.commerceresources.com or contact
Investor Relations at 1.866.484.2700 or info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
David Hodge
President and Director
Tel: 604 484 2700
TF: 866.484.2700
Email: info@commerceresources.com
Web: http://www.commerceresources.com
Forward-Looking Statements
This news release may contain forward-looking information and is subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ from those projected in the forward-looking
statements. Forward-looking information is based on the opinions and estimates of management and its consultants
at the date the information is given. It is 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.
Information is based on reasonable assumptions which include but are not limited to those regarding actual costs for
mining and processing and their impact on the cut off grade established, actual capital costs, forecasts of mine
production rates, the timing and content of upcoming work programs, geological interpretations, potential process
methods and mineral recoveries, the availability of markets for the products produced, market pricing for the
products produced, etc. Forward-looking statements address future events and conditions and therefore involve
inherent risks and uncertainties. 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 no responsibility to update or revise such information to reflect new events or circumstances, except as
required by law.