Last updated on April 18, 2014 at 5:48 EDT

Commerce Resources Corp. Updates Programs for the Upper Fir Tantalum-Niobium Project, Blue River, British Columbia

March 27, 2013


        --  Mineralogical variability studies show that the composites
            tested achieved similar recoveries (i.e. both by weight and
            grades of niobium and tantalum) to the partially optimized
            rougher flotation process established during the previous phase
            1 and 2 metallurgical programs.

        --  Over 90% of the composites tested achieved rougher recoveries
            which exceeded 96% tantalum and 92% niobium within the
            tantalum/niobium circuit only.

        --  The amount of tantalum and niobium metals reporting to the
            flotation feed is relatively constant at about 81.4% for
            tantalum and 80.6% for niobium

        --  The Mineral Resource update underway at AMEC will include
            results of exploration in 2012, as well as 34 drill holes
            (totalling 8,715 m) of infill drilling completed in 2011 and
            not included in the previous resource.

VANCOUVER, March 27, 2013 /PRNewswire/ – Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the “Company” or “Commerce”) is
pleased to provide a further update on recent work completed at its
Blue River Project since release of the National Instrument (NI) 43-101
compliant Mineral Resource update (Commerce news release July 6, 2012)
for the Upper Fir Deposit. Newly completed mineralogical variability
studies show that the partially optimized flotation flow sheet which
formed the base of the metallurgical analysis in the Preliminary
Economic Assessment (Commerce news release November 3, 2011), and which
was further optimized during Phase 2 test work (reported December 3,
3012) shows good applicability across the range of mineralogies tested.

The geological, engineering, metallurgical and environmental programs
carried out in 2012 provide broad support to the advancement of
exploration and development at the Company’s wholly owned Blue River
Project, east-central British Columbia. The new metallurgical results
continue to strengthen the foundation of broadly based technical
knowledge developed in 2012, and after completion of the mineral
resource update currently in progress by independent consultants AMEC
Americas Ltd. (“AMEC”), will be sufficient to support the initiation of
a pre-feasibility study (PFS).

“We are pleased with these new results from what has been a significant
amount of work accomplished in the past year. These metallurgical
results provide additional upside to the positive test work previously
reported in the PEA, a major milestone in our progress to develop the
Upper Fir.  The post-PEA metallurgical results reinforce Commerce’s
belief that we are in the process of building a very important
long-term source of conflict free and ethical tantalum which could
potentially supply 10% of the current world’s market for the long
term.” says Dave Hodge, Commerce’s President. “We will be extremely
interested in the upcoming resource update from AMEC which will be
based on all work to date.”

The Blue River Property is host to the Upper Fir Tantalum and Niobium
Deposit, which was discovered in 2002 and which has been the focus of
the Company’s activities since 2005. In fiscal 2012 Commerce spent
approximately $3.8M on the Property.

Metallurgical Test Work in 2012
Metallurgical work in 2012 has continued to update and optimize the
process flow sheet described in the NI 43-101 compliant Preliminary
Economic Assessment (“PEA”) study completed by AMEC on the Blue River
Project (effective date of September 29, 2011; see Commerce news
release of November 3, 2011).  The process flow sheet for the recovery
of the tantalum and niobium described in the PEA was developed in 2011
based on Phase 1 studies.

In April 2012, Commerce commissioned Acme Metallurgical Ltd (“Acme Met”)
of Vancouver, BC to initiate a Phase 2 investigation. This was designed
to follow-up the successful results of the earlier program which had
tested flotation as the preferred method to remove the larger portion
of fine slimes and carbonatite minerals early in the process.
Subsequent process steps could then focus on material containing Ta and

Phase 2 testing optimized the use of desliming and carbonate rejection
flotation, as well as chemical reagent dosages to increase the
efficiency of rougher/cleaner Ta/Nb flotation. This work enabled
finalization of the process flow sheet developed in Phase 1 which was
based on composite samples BS-2F and BS 2G. All Phase 2 work was
conducted on these same composites and all tests were conducted at a
grind size of 80% passing 130 microns. These results were reported in a
news release dated the 3(rd) of December 2012.

Mineralogical Variability Testing
A total of 767 samples of drill core rejects from the Upper Fir deposit
were combined into thirty-six composites (selected to represent five
different end member mineralogies within the deposit) and subjected to
flotation testing. This variability testing, initiated in April 2012
and completed in January 2013, had the primary objective of determining
the composites’ response to the partially optimized flotation procedure
established during the Phase 1 and 2 metallurgical programs completed
in 2011 and 2012 and previously reported.

Key Areas of Variability Investigation and Results:

Desliming and Mass Rejection

        --  The majority of the composites are amenable to the standard one
            stage cyclone desliming process with rejection of 17.2% of the
            weight as slimes, containing 7.2% of the tantalum and 6.9% of
            the niobium.  Variation of the weight rejected is minimal
            between composites with no significant effect from grind sizes
            or mineralogy.
        --  The total carbonate mass rejection is proportional to the
            amount of carbonate and phosphate materials in the feed, with
            the average weight of carbonate concentrate floated and
            rejected for all composites being 53.2% of the mass, with
            losses of 11.4% for tantalum and 12.5% of niobium. Metals
            losses were directly proportional to the weight of concentrate
            removed and independent of head grades.

Carbonate Concentrate Cleaning

        --  Cleaning of the carbonate concentrate was not performed during
            this testing campaign, however, the scavenger stage of
            flotation represented about 40% of the total weight floated,
            containing about two thirds of the metal losses. This is
            indicative of mechanical losses due to strong scavenging action
            and entrainment.
        --  It is strongly recommended that cleaning of the concentrate be
            kept in the flow sheet to reduce these losses.  Recycling the
            cleaner tails to the Ta:Nb flotation feed might account for 2%
            to 6% of the metals in the feed.

Feed to Tantalum:Niobium Flotation

        --  Though the weight of material left after slimes and carbonate
            removal does vary with the type of mineralogy, it overall
            averages 29.5%. The amount of metals reporting to Ta:Nb
            flotation nevertheless remains fairly constant at about 81.4%
            for tantalum and 80.6% for niobium. Losses of metals to that
            point are proportional to the weights removed and thus
            statistically inversely proportional to head grades.
        --  Within the Ta:Nb rougher and cleaner flotation circuit only,
            over 90% of the composites achieved rougher grade Ta:Nb
            recoveries which exceeded 96% for Ta and 92% for Nb.

Magnetic Separation

        --  The final stage of magnetic separation also increased the final
            concentrate grade with minimal loss of the Ta and Nb minerals.
            This supports results from Phase 2 work in which approximately
            50% of the final concentrate mass was removed with minimal
            Ta/Nb loss.

Acme Metallurgical Recommendations
Acme Met recommends that further optimization work be undertaken as

        --  The carbonate flotation stage appears to require a lower dosage
            of the oleic acid collector  as tantalum and niobium minerals
            are likely trapped and entrained with the tight froth generated
            by the over dosage of oleic acid.
        --  The balance of flotation reagents diamine acetate (Duomac T- as
            collector) and fluosilicic acid (H2SiF6 as pH
            modifier/silicates depressant) in the Ta:Nb cleaning circuit
            should be investigated as metals losses are mostly observed
            between pH 4 to 3.
        --  A fifth and sixth stage of cleaning should be investigated to
            achieve a grade of 35% combined Nb-Ta oxides.
        --  Locked cycle tests should be completed to provide clear
            indication of reagents consumption as each stage.
        --  Full assaying of final concentrate products, particularly for
            sulphur and rock-forming elements, could provide additional
            information which would help orient further investigations.

Upcoming Mineral Resource Update
A Mineral Resource Update and subsequent technical report which will
incorporate all data from 2005 through 2012 is currently underway by
AMEC with completion targeted for the second quarter of 2013.  This
work will build from the previous Mineral Resource Update technical
report (effective date June 22, 2012) in which AMEC compared results
from the 34 holes totalling 8,715m drilled in 2011, after the closure
of the resource database to the updated resource model and found them
to be reasonably consistent with the geology predicted by the model.

2011 PEA Outcomes
The Preliminary Economic Assessment (“PEA) was prepared to define an
overall proof of concept for further development of the Blue River
Project.  The PEA (effective date September 29, 2011) indicated that
the deposit can be developed economically as an underground mine and
recommended future studies to support a pre-feasibility level
assessment of the project.  The assessment included geological and
mineral resource modeling, preliminary mine planning, a description of
metallurgical test work and process design, a summary of environmental
baseline work to date, and estimates for capital and operating costs. 
As well, it determined the economics to develop the project as an
underground mine with process facility, and included an estimate of the
direct cash costs to produce tantalum contained in a technical grade
oxide product.

The Blue River Project is located near the village of Blue River, which
is approximately 250 km north of the city of Kamloops and approximately
90 km south of the town of Valemount.  The Project comprises 105,373
hectares (1,000 km(2)) of mineral claims.   Power transmission lines, rail, and paved and
gravel roads are all adjacent to, or within the property boundaries. 
Transalta Corp.’s 18 MW Bone Creek run-of-river hydroelectricity
project near the project was commissioned in June 2011.

NI 43-101 Disclosure
Ms. Jenna Hardy, M.Sc., P.Geo., Commerce Resources Corp., is a Qualified
Person as defined by National Instrument 43-101, read and approved the
disclosure of the technical information in this news release.

About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with
a particular focus on tantalum, niobium and rare metal deposits with
potential for economic grades and large tonnages. The Company is
specifically focused on the development of its Upper Fir Tantalum and
Niobium Deposit in British Columbia and its Ashram Rare Earth Element
Project in northern Quebec.

On Behalf of the Board of Directors


“David Hodge”
David Hodge
President and Director
Tel:  604.484.2700
Email: dhodge@commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking information which is subject
to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ from those projected in the
forward-looking statements.  Forward looking statements in this press
release include that our results will be sufficient to support the
initiation of a pre-feasibility study; that we are in the process of
building a very important long-term source of tantalum which could
potentially supply 10% of the current world’s market for the long term;
that we will be able to enhance even further the quality of the
resource; and that prices for our potential products are conservatively
estimated and may trend upwards.  These forward-looking statements are
based on the opinions and estimates of management and its consultants
at the date the information is disseminated.  They are subject to a
variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in
the forward-looking information.  Risks that could change or prevent these statements from coming to
fruition include changing costs for mining and processing and their
impact on the cut off value established; increased capital costs; 
changing forecasts of mine production rates; the timing and content of
upcoming work programs; geological interpretations based on drilling
that may change with more detailed information; potential process
methods and mineral recoveries assumption based on limited test work
and by comparison to what are considered analogous deposits that with
further test work may not be comparable; the availability of labour,
equipment and markets for the products produced; market pricing for the
products produced; and despite the current expected viability of the
project, conditions changing such that the minerals on our property
cannot be economically mined, or that the required permits to build and
operate the envisaged mine can be obtained. The forward-looking
information contained herein is given as of the date hereof and the
Company assumes no responsibility to update or revise such information
to reflect new events or circumstances, except as required by law.

SOURCE Commerce Resources Corp.

Source: PR Newswire