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Current Drill Program at Eldor Rare Earth Project Expanded 50%

October 7, 2010

VANCOUVER, Oct 7 /PRNewswire-FirstCall/ - Commerce Resources Corp. (TSXv: CCE)
(FSE: D7H) (the “Company” or “Commerce”) reports that it will add 1,500
metres (six holes) to the already 3,000 metres drilled this year at its
Eldor Rare Earth Project located in northeastern Quebec.  The expanded
program has been driven by the discovery of significant intersections of
rare earth elements announced earlier this year.

The Company has also commissioned SGS Geostat Ltd. of Montreal, Quebec
to prepare a National Instrument 43-101 compliant Mineral Resource
Estimate and associated Independent Technical Report following the
receipt of results from the entire 2010 exploration program.  

“We are encouraged by the results to date leading us to this decision to
expand the drilling and to commission a resource estimate,” said Dave
Hodge
, President of Commerce.

Eldor Property
The Eldor Property covers a carbonatite
complex located within the central Labrador Trough located in northern
Quebec; approximately 130 km south of the town of Kuujjuaq. The property
is 100%-owned by Commerce and encompasses 404 claims totaling
approximately 19,006 hectares.

Significant tonnage potential has been indicated by the broad thickness
and relative continuity of grade encountered thus far in the first two
holes at the Ashram Zone.  Geologically, the Eldor Project represents
one of the largest carbonatite complexes known worldwide. Carbonatite
related deposits are a major host for rare metals such as niobium and
tantalum and rare earth elements. Geologically similar exploration
projects include Hudson Resources Inc.’s Sarfartoq Carbonatite Project
in Greenland and Rare Element Resources Ltd.’s Bear Lodge Carbonatite
Project in Wyoming.

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 a 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 is
also exploring its Eldor Project in northern Quebec and the Carbo
Project in northern British Columbia.

For more information please visit the corporate website at http://www.commerceresources.com
or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com.
 

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

David
Hodge
President and Director
Tel: 604 484 2700
TF:
866.484.2700
Email: info@commerceresources.com
Web:
http://www.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.

Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward looking
statements in this news release include that the Company will add an
additional 1,500 metres of drilling to the exploration program this
year, and that SGS Geostat Ltd. of Montreal, Quebec has been
commissioned to prepare a NI 43-101 compliant mineral resource estimate
and associated independent technical report on the Eldor Property,
following the receipt of results from the entire 2010 exploration
program.  

It is important to note that actual outcomes and the Company’s actual
results could differ materially from those in such forward-looking
statements. Risks and uncertainties include economic, competitive,
governmental, environmental and technological factors that may affect
the Company’s operations, markets, products and prices. Factors that
could cause actual results to differ materially may include
misinterpretation of data; that we may not be able to get equipment or
labour as we need it; that we may not be able to raise sufficient funds
to complete our intended exploration and development; that our
applications to drill may be denied; that weather, logistical problems
or hazards may prevent us from exploration; that equipment may not work
as well as expected; that analysis of data may not be possible
accurately and at depth; that results which we or others have found in
any particular location are not necessarily indicative of larger areas
of our properties; that we may not complete environmental programs in a
timely manner or at all; that market prices for tantalum & niobium may
not justify commercial production costs; and that despite encouraging
data there may be no commercially exploitable mineralization on our
properties.

Readers should refer to the risk disclosures outlined in the
Company’s Management Discussion & Analysis of its audited financial
statements filed with the British Columbia Securities Commission.

SOURCE Commerce Resources Corp.


Source: newswire



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