Commerce Resources Announces Significant Increase in Indicated Mineral Resource for Ashram Deposit

Commerce Resources Corp. has announced a substantial update to the mineral resource estimate (MRE) for its Ashram Rare Earth and Fluorspar Deposit in Quebec. The updated MRE incorporates 28,783 meters of diamond drilling, resulting in a 164% increase in indicated resources, now totaling 73.2 million tonnes (Mt) at 1.89% total rare earth oxides (TREO) and 6.6% CaF2.

The deposit includes a significant high percentage of neodymium and praseodymium (NdPr), with the indicated resource showing a NdPr distribution of 21.2%. The Ashram Deposit comprises three monazite-mineralized zones and remains open at depth, with further metallurgical studies on additional lithologies planned.

These updates position the Ashram Deposit as one of the largest monazite-mineralized carbonatite rare earth element deposits globally, promising a long-term supply of magnet-feed rare earth elements to North American and European markets. A forthcoming niobium drill program aims to explore additional resource potential, further enhancing the project's value.