Commerce Resources Corp. Announces 17 Drill Holes on Upper Fir Extend Strike to Over 1 Kilometer



    VANCOUVER, Oct. 1 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H)
("the Company") is pleased to announce that it has, as part of the 2007
drilling program, completed 17 diamond drill holes with the 18th drill hole
being underway, at the Upper Fir Carbonatite. All drill holes have intersected
zones registering between 8 and 99 meters of carbonatite. Exploration to date
has extended the tantalum- and niobium-bearing carbonatite over a strike
length exceeding 1,100 meters north-south and more than 580 meters in an
east-west direction.
    In addition, the Bone Creek Carbonatite, which outcrops about 400 m to
the west of the southern most drill holes, has been intersected in some of the
2007 drill holes, confirming that the Bone Creek - Upper Fir Carbonatite
System is relatively continuous over a very large area. Based on the 2005 and
2007 drilling results, the Bone Creek Carbonatite extends over a strike length
of more than 800 meters north-south and more than 930 meters in an east-west
direction. Both the Upper Fir and the Bone Creek carbonatites remain open to
the east and south. Drilling continues.
    Commerce Resources Corp. is also in receipt of the analytical results for
seven of the drill holes completed at the Upper Fir Carbonatite during this
current program. These results confirm a significant increase in niobium
content within the southern parts of the Upper Fir Carbonatite, with an
enriched tantalum zone underlying it. Highlights include:

    
    -   Hole F07-18 contained 26.00 m of 2,198 g/t (0.22%) Nb(2)O(5) and
        182 g/t Ta(2)O(5)
    -   Hole F07-19 contained 20.56 m of 3,237 g/t (0.32%) Nb(2)O(5) and
        110 g/t Ta(2)O(5)
    -   Hole F07-20 contained 29.56 m of 3,136 g/t (0.31%) Nb(2)O(5) and
        246 g/t Ta(2)O(5)
    -   Hole F07-21 contained 15.50 m of 3,622 g/t (0.36%) Nb(2)O(5) and
        121 g/t Ta(2)O(5)
    -   Hole F07-23 contained 19.38 m of 3,067 g/t (0.31%) Nb(2)O(5) and
        163 g/t Ta(2)O(5)
    

    Holes F07-18 to F07-20 are about 100 meters southwest of Holes F06-15 to
F06-17 (completed during 2006), and about 100 meters due north of Holes F07-21
to F07-23. Hence, the area of higher-grade niobium mineralization measures in
excess of 100 meters north-south by 100 meters east-west. It is also important
to note that previously reported recoveries for niobium and tantalum from the
Blue River Carbonatites are significantly higher than that for most of the
existing niobium and tantalum mines known world wide.
    The variability observed in the southern portions of the Upper Fir
Carbonatite has also indicated potential for an underlying zone with
significant tantalum enrichment and niobium depletion. For some of these drill
holes the ratio of niobium:tantalum is between 2-4:1. Highlights include:

    
    -   Hole F07-19 contained 9.00 m of 2,310 g/t Nb(2)O(5) and 284 g/t
        Ta(2)O(5)
    -   Hole F07-20 contained 14.00 m of 478 g/t Nb(2)O(5) and 212 g/t
        Ta(2)O(5)
    -   Hole F07-21 contained 7.19 m of 1,500 g/t Nb(2)O(5) and 198 g/t
        Ta(2)O(5)
    

    The drilling has confirmed that the sill-like carbonatites are
sub-horizontal, gently dipping to the south and east or to the north and west.
In addition, the company has completed four infill drill holes (F07-30,
F07-31, F07-32, and F07-33) at the Upper Fir with the intention of upgrading
the current resource estimate. Detailed results from the 17 drill holes
completed to date are as follows:

    
         Summary of weighted average grades for Upper Fir drill holes
                      for 150 g/t Ta(2)O(5) cut off level

    -------------------------------------------------------------------------
               Carbonatite zone    Carbon-
    Drill                   Inter-  atite
    Hole     From     To     val    total  P(2)O(5) Nb(2)O(5) Ta(2)O(5) Nb/Ta
    Number    (m)     (m)    (m)     (m)      wt %    g/t        g/t      wt
    -------------------------------------------------------------------------
    F07-18   37.00  221.46  184.46  60.13     3.36    1333       189       6
    F07-19   34.84  235.00  200.16  80.06     3.11    1481       175       7
    F07-20   48.00  155.00  107.00  42.33     2.77    1852       224       7
    F07-21   43.00  228.03  185.03  33.26     3.28    1403       185       6
    F07-22   12.50  247.41  234.91  58.19  being processed in the laboratory
    F07-23   46.00  251.79  205.79  24.46     3.26    1133       196       4
    F07-24   47.00  114.14   67.14  24.84     2.93    2327       192      10
    F07-25   90.00  145.37   55.37  29.32     3.10    1256       193       5
    F07-26   44.80  121.42   76.62  21.00  being processed in the laboratory
    F07-27   12.20  225.78  213.58  38.04  being processed in the laboratory
    F07-28   27.79  150.40  122.61  58.99  being processed in the laboratory
    F07-29    6.00  137.86  131.86   8.47  being processed in the laboratory
    F07-30   75.13  149.46   74.33  74.33  being processed in the laboratory
    F07-31   52.61  173.18  120.57  92.03  being processed in the laboratory
    F07-32   32.40  169.60  137.20  88.07  being processed in the laboratory
    F07-33   26.34  219.16  192.82  61.91  being processed in the laboratory
    F07-34  123.94  304.84  180.90  68.02  being processed in the laboratory
    F07-35  in progress...
    -------------------------------------------------------------------------
    

    Additional results will be released as they become available. All samples
were analyzed at Acme Analytical Laboratories Ltd. in Vancouver, BC. using the
fusion ICP-MS method.
    Jody Dahrouge, P. Geol., and director of Commerce Resources, qualified
person as defined by National Instrument 43-101, supervised the preparation of
the technical information in this news release.

    About Tantalum and Niobium

    Recent market fluctuations have not affected the prices of these metals.
In fact, as global demand for both metals has continued to increase, prices
have actually risen. (metalsprices.com)
    Tantalum is the metal with the highest capacitance known, which is the
ability to hold and release instantaneously more electrical charge per gram
than any other metal. As such tantalum is essential to most electronic devices
manufactured today.
    Niobium is an additive to the production of steel, which is alloyed in to
increase strength and for its anti-corrosive properties. A 2% alloy of niobium
has the ability to triple the tensile strength of steel - from a PSI (pounds
per square inch) of 40,000 to 120,000. Niobium-alloyed steel is used in
construction steel, oil and gas pipelines, nuclear plant pipelines, the
automotive industry and aerospace.

    About Commerce Resources Corp.

    Commerce Resources Corp.'s stated goal is to become the world's next
resource of tantalum and niobium. Commerce is the most active tantalum and
niobium explorer in North America, with a focus on developing its Upper Fir
Deposit.
    Exploration to date at the Upper Fir deposit has outlined an indicated
resource of 8.6Mt with 208.2 g/t Ta(2)O(5) and 1,372.6 g/t Nb(2)O(5) and an
inferred resource of 5.5Mt with 208.2 g/t Ta(2)O(5) and 1,349.9 g/t Nb(2)O(5)
(Gorham, 2007). Exploration to date at the Fir deposit has outlined an
indicated resource of 5.65Mt with 203.1g/t Ta(2)O(5) and 1,047g/t Nb(2)O(5)
(Verzosa, 2003). The Fir is also host to an inferred resource of 6.7Mt with
203.1 g/t Ta(2)O(5), and 1,047 g/t Nb(2)O(5) (Verzosa, 2003). The Verity
deposit, 10 km north of the Fir property, is estimated to host an inferred
resource of 3.06Mt with 196g/t Ta(2)O(5), 646g/t Nb(2)O(5) and 3.20% P(2)O(5)
(McCrea, 2001). Detailed information on both resource estimates for the
deposits may be viewed in the Company's public disclosure on SEDAR.
    Previous exploration at the recently acquired Eldor Carbonatite returned
results ranging from greater than 1.0% to 11.4% Nb(2)O(5) (greater than
10,000 g/t to 110,000 g/t Nb(2)O(5)) and from greater than 0.01% to 0.21%
Ta(2)O(5) (100 g/t to 2,100 g/t Ta(2)O(5)). The Company will release assays
from the extensive program of exploration conducted on the Eldor Carbonatite
this summer when they are available.

    On Behalf of the Board of Directors
    COMMERCE RE

SOURCES CORP. "David Hodge" -------------- David Hodge President and Director 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 release include statements regarding the new drill holes having the potential to add significantly to the size of the Upper Fir deposit as well as to extend the known resources of the Upper Fir, plans to become the world's next resource of tantalum and niobium, developing the Upper Fir deposit into production, as well as being the most active tantalum and niobium explorer in North America. 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, but are not limited to, 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 property; that we may not complete environmental programs in a timely manner or at all; 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 and Analysis of its audited financial statements filed with the Ontario Securities Commission. The TSX Venture Exchange has neither approved nor disapproved the information contained herein

For further information:

For further information: on Commerce Resources Corp. and the Blue River
Tantalum-Niobium Property, visit the corporate website at
www.commerceresources.com, or contact Investor Relations at (604) 484-2700 or
toll free at (866) 484-2700

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