Commerce Resources Corp. Expands Tantalum and Niobium Mineralization at the Upper Fir Deposit



    VANCOUVER, Feb. 27 /CNW/ - Commerce Resources Corp. (TSXv: CCE)
(FSE: D7H) ("the Company") is pleased to announce that results of its 2007
diamond drilling program have expanded the known tantalum and niobium
mineralization at the Upper Fir deposit. The deposit is located in
south-central British Columbia and is wholly-owned by the Company.
    During 2007, 18 HQ sized drill holes totaling 4,710 meters were completed
at the Upper Fir deposit. All 18 holes intersected mineralized carbonatite,
thereby extending the known mineralization by an additional 250 meters to the
south and 200 meters to the east of the area identified in 2006. When combined
with the apparently contiguous Bone Creek occurrence (drilled in Oct. 2005),
the Upper Fir Carbonatite Complex now extends approximately 800 meters
east-west, by 1,400 meters north-south. The Upper Fir Carbonatite remains open
to both the east and to the south.

    
    Highlights from the 2007 program include:

    -   The weighted average of Ta(2)O(5) (tantalum oxide) without
        application of a cutoff grade is 176g/t; with an average apparent
        thickness of 55.2 meters. The weighted average grade of Nb(2)O(5)
        (niobium oxide) is 1,549g/t and of P(2)O(5) (phosphate) is 3.11% over
        the same interval.

    -   Using a 150g/t cutoff, the overall weighted average grade for
        Ta(2)O(5) is 212g/t with an average true thickness of 29.7 meters.
        Weighted average grades of Nb(2)O(5) and P(2)O(5) (phosphate) for the
        respective intervals are 1,468g/t and 3.55% P(2)O5.

    -   Using a 1,500g/t cutoff for Nb(2)O(5), the overall weighted average
        grade for Nb(2)O(5) is 2,587g/t with an average true thickness of
        16.7 meters. Weighted average grades of Ta(2)O(5) and P(2)O(5) for
        these respective intervals are 195g/t and 3.00%.

    -   Significant variability in grade was demonstrated by the 2007
        drilling, indicating the potential for higher grade zones within the
        overall Upper Fir Carbonatite. For example, maximum values of 693g/t
        Ta(2)O(5) and 9,142g/t Nb(2)O(5) were recorded over one meter, and
        several significant zones of enrichment were noted, such as within
        Hole 28, the southernmost hole drilled to date, which contained:

        -   11.00 meters between 128 and 139 meters, averaging 329g/t
            Ta(2)O(5), 4,990g/t Nb(2)O(5), and 2.83% P(2)O(5);

        -   17.04 meters between 92.96 and 110 meters, averaging 4,943g/t
            Nb(2)O(5), 153 g/t Ta(2)O(5), and 2.21% P(2)O(5).

    -   Additional examples of higher grade mineralization which are
        correlative between drill holes, follows:

        -   17 meters from 48 to 65 meters, averaging 232g/t Ta(2)O(5),
            1,789g/t Nb(2)O(5), and 3.25% P(2)O(5) (Hole No. F07-18);

        -   9 meters from 73 to 82 meters, averaging 284g/t Ta(2)O(5),
            2,309g/t Nb(2)O(5), and 3.20% P(2)O(5) (Hole No. F07-19);

        -   12 meters from 62 to 74 meters, averaging 245g/t Ta(2)O(5),
            1,581g/t Nb(2)O(5), and 2.91% P(2)O(5) (Hole No. F07-20).

    A summary of the 2007 results follows:

    -------------------------------------------------------------------------
    Hole            Carbonatite        Total
              ----------------------- Carbon-
               From    To      Thick   atite   Ta(2)O(5)  Nb(2)O(5)  P(2)O(5)
                (m)    (m)      (m)     (m)       (g/t)     (g/t)       (%)
    -------------------------------------------------------------------------
    F07-18(*)  37.00  221.46  184.46   60.13       189     1,333      3.36
    F07-19(*)  34.84  235.00  200.16   80.06       175     1,481      3.11
    F07-20(*)  48.00  155.00  107.00   42.33       224     1,852      2.77
    F07-21(*)  43.00  228.03  185.03   33.26       185     1,403      3.28
    F07-22     12.50  247.38  234.88   54.18       185     1,837      2.72
    F07-23(*)  46.00  251.79  205.79   24.46       196     1,133      3.26
    F07-24(*)  47.00  114.14   67.14   24.84       192     2,327      2.93
    F07-25(*)  90.00  145.37   55.37   29.32       193     1,256       3.1
    F07-26     44.00  121.42   77.42   21.45       174     1,501      2.43
    F07-27    109.30  225.78  116.48   35.80       135     1,735      2.36
    F07-28     92.96  150.40   57.44   57.44       212     3,288      2.51
    F07-29     13.71  137.85  124.14    7.00        87     1,370      0.89
    F07-30     75.13  149.46   74.33   74.33       204       911      3.43
    F07-31     81.00  173.18   92.18   90.64       175       675      3.26
    F07-32     67.00  169.60  102.60   87.10       160     1,111      3.40
    F07-33     32.00  219.16  187.16   60.50       200     1,350      3.70
    F07-34    125.00  304.88  179.88   66.75       161     1,085      3.46
    F07-35    166.78  198.70   31.92   18.34       207     1,882      3.45
    -------------------------------------------------------------------------
    (*) results reported in Company news release of October 1, 2007
    

    President of Commerce Resources David Hodge comments, "We are very
excited by these results because they not only show an increase in the size of
the Upper Fir Carbonatite, but also the discovery of zones of enriched grades
of tantalum and niobium. These results point to an extension of the potential
life span of this project. Our primary direction is the focus on the
development of this near surface deposit, although we will continue our
exploration of the other Blue River carbonatites under claim."
    John Gorham, P. Geol., a qualified person as defined by National
Instrument 43-101, supervised the preparation of the technical information in
this news release.

    About Commerce Resources Corp.
    ------------------------------
    Commerce Resources Corp.'s stated goal is to become the world's next
source of tantalum and niobium. Commerce is an active tantalum and niobium
explorer in North America, with a focus on developing the Upper Fir Deposit in
British Columbia and the Eldor Deposit in Quebec.
    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 deposit, 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 the deposits may be viewed in the
Company's public disclosure on SEDAR.

    On Behalf of the Board of Directors
    COMMERCE RE

SOURCES CORP. "David Hodge" ------------- David Hodge President and Director The TSX Venture Exchange has neither approved nor disapproved the information contained herein 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, the identification of a potential carbonatite zone on the western slope of Mount Cheadle, plans to become the world's next source 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.

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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