COMMERCE RES CORP - CMRZF STOCK NEWS

Commerce Resources Corp. announced a non-brokered private placement of up to 12,500,000 units at $0.16 each, aiming for gross proceeds of $2,000,000. Each unit consists of one common share and a warrant purchasable at $0.25 over three years. The offering is open to existing shareholders, with a record date set for August 12, 2022, qualifying for the Existing Security Holder Exemption. Proceeds will support pre-feasibility studies at the Ashram REE/Fluorspar Deposit, along with producing rare earth samples and general working capital. Completion is subject to TSX Venture Exchange approval.

Commerce Resources Corp. (OTCQX:CMRZF) reports progress on its 2022 drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. Completed drilling now totals approximately 1,003 m, extending the mineralized footprint by 100 m to the southeast. The deposit's dimensions are now at least 700 m along strike, 300 m wide, and 600 m deep. The company aims to enhance resource confidence, focusing on areas with high NdPr content. A Prefeasibility Study is underway, anticipating a larger pit shell compared to previous assessments. Core samples are being prepared for geochemical analysis.

Commerce Resources Corp. (OTCQX:CMRZF) announced the initial shipment of 2 kg of Ashram Deposit whole rock crushed material to a rare earth element processor. Following a sample of mixed rare earth carbonate delivered earlier, the new shipment is aimed at evaluating processing capabilities. The processor has shown interest in a larger follow-up shipment of 200 kg and in mixed REC concentrate, highlighting strong NdPr distributions of 21.6-24.2%. The Ashram Deposit is among the largest global REE sources, with substantial measured and indicated resources, and a prefeasibility study is planned for early 2023.

Commerce Resources Corp. has initiated a summer drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec, aiming to conduct 2,200 meters of NQ size core drilling over 7-10 holes. The project seeks to improve resource confidence and delineate the deposit, which is open to the north and south. Previous estimates indicated 1.6 million tonnes at 1.77% REO. The company is advancing its Prefeasibility Study while adhering to COVID-19 protocols. This endeavor strengthens Commerce's position in the rare earth and fluorspar markets.

Commerce Resources Corp. (OTCQX:CMRZF) has announced the successful shipment of its first mixed rare earth carbonate concentrate sample to a major global rare earth element producer for evaluation. The sample boasts a neodymium plus praseodymium oxide distribution of 24.2%, surpassing previous samples and several major producers. The mixed REC concentrate is produced from the Ashram Deposit, which is among the largest REE deposits globally, with an inferred resource of 219.8 million tonnes. Commerce aims to enhance production to meet rising market demand.

Commerce Resources Corp. has announced the successful production of a new mixed rare earth carbonate sample from its Ashram Deposit in Quebec, with a neodymium and praseodymium distribution of 22.4%, surpassing previous and industry averages. The sample, weighing 55 g, contains 50.9% rare earth oxide and will be evaluated by third-party processors. The ongoing scale-up aims for larger kilogram samples, reinforcing the company's position as a potential low-cost global supplier of rare earth elements.

Commerce Resources Corp. has partnered with CanmetMINING to enhance the Ashram Rare Earth and Fluorspar Deposit's development through metallurgical testwork. This collaboration aims to optimize the project's flowsheet as it progresses toward prefeasibility design. The initiative is backed by federal R&D support under the Critical Minerals Research program, targeting advancements in critical minerals processing. Initial test programs have commenced following the preparation of mineralized samples, which contain significant resources including 1.6 million tonnes measured at 1.77% rare earth oxide.

Commerce Resources Corp. (OTCQX:CMRZF) has successfully produced a sample of mixed rare earth carbonate (REC) that meets market specifications. The sample features a neodymium and praseodymium oxide distribution of 21.6%, surpassing several global competitors. This achievement marks a significant step towards finalizing its metallurgical program for the Ashram Deposit in Quebec. The company plans to produce ~2.5 kg of mixed REC for third-party evaluations shortly. The Ashram Deposit is among the largest globally, with substantial resources of rare earth oxides and fluorspar.

Commerce Resources Corp. has announced the results of its final two drill holes from the 2021 program at the Ashram Rare Earth and Fluorspar Deposit. Notable findings include 1.82% rare earth oxide over 225.4 m and 1.71% over 147.8 m. The aim of the drill program was to upgrade mineral resource confidence to support a Prefeasibility Study. Company President Chris Grove highlighted the positive results, indicating the potential for a significant mineral deposit. The Ashram Deposit ranks among the largest globally, with extensive resources available for future exploration.