Commerce Resources Announces Change in Management

March 17^th, 2025 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) advises that Mr Ross Carroll has terminated his employment with the Company by mutual agreement and will step down as President and Chief Executive Officer and as a member of the board of directors effective immediately.

Mr. Jeremy Robinson, who is currently a non-executive Director, will assume the role of interim President and Chief Executive Officer to complete the Company’s expected dual listing on the Australian Securities Exchange (ASX) in the coming months and oversee the next phase of development of the world-class Ashram Rare Earths Project.

Following completion of the ASX listing, the Company expects to announce the appointment of a permanent President and CEO who will be based in North America.

Commenting on the changes, Interim President and CEO Jeremy Robinson said: “On behalf of the Commerce board, I would like to express my thanks to Ross for his leadership and diligence over the past six months and wish him well in his future endeavours.

“The Company is about to embark on an exciting period and I look forward to keeping shareholders updated in the weeks and months ahead as we continue to advance the Ashram Project towards development.”

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern Quebec, Canada. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (more than 30 – 45% TREO) mineral concentrates at high recovery (more than 60 – 75%) in line with active global producers.

The Ashram Deposit also has a fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market.

Additionally, Commerce is committed to exploring the potential of other high-value commodities on the Property such as niobium and phosphate minerals, which may help advance Ashram by reducing costs through shared development.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

“Ian Graham”
Ian Graham
Chairman
Tel: 604.484.2700
Email: info@commerceresources.com
Web:   http://www.commerceresources.com

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