Commerce Resources Corp. Donates Samples from the Ashram Rare Earth and Fluorspar Deposit to the Canadian Museum of Nature and announces grant of Stock Options
Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce a donation of five (5) whole rock hand samples from the Ashram Rare Earth and Fluorspar Deposit to the Canadian Museum of Nature in Ottawa, ON.
The donation is in response to a request by the Canadian Museum of Nature who are developing a display/edukit that will be used at various schools, launching in September 2021. The focus of the edukit is minerals and natural resources in our daily lives. This includes the mining of rare earth elements (“REEs”) and specifically, an illustration of the key components of the REE value chain. The overarching objective is show students how raw materials in the ground are extracted, processed, and end up being used in everyday technologies such as cell phones, tablets, headphones, etc.
Company President Chris Grove comments, “We are very happy to support REE education initiatives such as those being advanced by the Canadian Museum of Nature. The criticality of REEs is often overlooked due to their use in relatively small amounts per application; however, they are indispensable to our everyday way of life through their uses in high-tech and clean technologies. Education is a principal way to bridge this gap in understanding and provides the opportunity to further highlight the complexity in the relationships of industry supply chains and the products we rely on every day.”
The Company continues to collaborate with the Canadian Museum of Nature to offer its expertise on the REE industry and looks forward to any further support it can provide to the institution’s education initiatives. The donation to the Museum follows similar donations of rocks samples by the Company to the University of Alberta in 2010 and the Royal Ontario Museum in 2009, which were collected from the Blue River Tantalum and Niobium Project’s Upper Fir Deposit located in British Columbia.
The Company also announces that it has granted an aggregate of 1,800,000 stock options (each, an “Option”) to certain directors, officers, employees, and consultants of the Company for the purchase of up to 1,800,000 common shares of the Company pursuant to its Stock Option Plan. Each Option is exercisable for a period of two (2) years at a price of $0.38 per common share. Of these Options, 200,000 are being granted to persons providing investor relations to the Company and, pursuant to the policies of the TSX Venture Exchange, must vest over 12 months from the issuance date, with 25% vesting in each three (3) month period after the grant of the Options.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and 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 a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. 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. 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 (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
For more information, please visit the corporate website at www.commerceresources.com or email [email protected]
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
Email: [email protected]