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Commerce Resources Corp. Signs Exploration Earn-In Agreement with Saville Resources Inc. on Eldor Niobium Claims

January 11, 2018

Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to announce that it has entered into an exploration earn-in agreement with Saville Resources Inc. on the Eldor Niobium claims wholly owned by Commerce in Quebec.

Under the exploration earn-in agreement, Saville has agreed to perform $5M CAD of work on the Eldor Niobium claims over a five year period to earn a 75% interest in the claims. Commerce Resources will receive a cash payment of $25,000 upon signing, a cash payment of $225,000 following Exchange approval, and will receive a 2% Net Smelter Royalty (NSR) on production from some of the claims, with a 1% NSR buyback for $1M CAD, and a 1% NSR on the claims that are already subject to royalties.

Prior sampling programs conducted by Commerce on these claims, which are located to the North West and South East of the Ashram Rare Earth Deposit, and including the Miranna, have returned grades as high as 5.9% Nb2O5. Of the 64 prospecting rock samples collected from the Miranna Area during the 2015 program, a total of 40 samples returned Nb2O5 grades in excess of 0.5%, with 16 in excess of 1% to a peak of 5.9% Nb2O5.

Prior mineralogical work on samples from the Southeast Area infers the niobium mineralization may be present in the well-known mineral pyrochlore, which has been commercially processed elsewhere in the world including at the Niobec Mine, which is also in Quebec.