Commerce Resources Arranges $7.5 Million Non-Brokered Private Placement

VANCOUVER, May 30, 2011 /CNW/ - Commerce Resources Corp. (TSXv: CCE; FSE: D7H; OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to announce that it has arranged a non-brokered private placement (the "Private Placement") of 10,388,834 common shares of the Company at a price of $0.73 per share for gross proceeds of $7.5 million.

The securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of closing. The Private Placement is subject to the approval of the TSX Venture Exchange. A finders fee will be paid in connection with the funds raised in the Private Placement in a combination of cash and warrants.

The proceeds of the Private Placement will be used to advance the Company's exploration and development programs on its Blue River Tantalum and Niobium Project in British Columbia and its Eldor Rare Earth Project in Quebec, and for general working capital.

About Commerce Resources Corp.

Commerce Resources Corp. is a mineral exploration and development company with a focus on deposits of rare metals and rare earth elements. Commerce is currently advancing the development of its Upper Fir Tantalum and Niobium Deposit at its Blue River Project in British Columbia and the exploration of its Eldor Rare Earth Project in northern Quebec.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"David Hodge"
David Hodge
President and Director
Tel:  604.484.2700
TF:   866.484.2700
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.

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 receiving TSX Venture Exchange approval of the private placement and the subsequent completion of the private placement of 10,388,834 common shares, and that the proceeds of the private placement being used to advance the continued exploration and development of both the Blue River Project and the Eldor Project and for general working capital.

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 may affect the Company's operations, markets, products and pricesFactors that could cause actual results to differ materially may include that we may not receive regiulatory approval for our placement, that we may not be able to get equipment or labour as we need it; 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 we may decide to use the funds for other purposes such as better exploration prospectus if such opportunity arises; 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 and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

For further information:

please visit the corporate website at http://www.commerceresources.com or contact investor relations at 1.866.484.2700 or info@commerceresources.com

Profil de l'entreprise

Commerce Resources Corp.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.