Commerce Resources Corp. Receives Updated Resource Estimate for Upper Fir Tantalum and Niobium Project



    VANCOUVER, Aug. 8 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H)
("the Company") is in receipt of an updated resource estimate for the Upper
Fir Carbonatite, located in east-central British Columbia.
    The updated resource estimate is based upon 20 HQ diameter diamond drill
holes completed during 2005-2006, and an additional 18 HQ diameter diamond
drill holes completed during 2007. The holes outlined a series of sill-like
bodies with up to 100 m total thickness, that extends for more than 1,100 m in
a north-south direction and up to 600 m in an east-west direction. The
carbonatite remains open both to the east and to the south.
    Based on the exploration from 2005-2007, the Upper Fir Carbonatite is
estimated to contain an indicated resource of 14.68 Mt with average grades of
190 g/t Ta(2)O5 (Tantalum) and 1,300 g/t Nb(2)O5 (Niobium), within a 38 m
confidence limit. In addition, the mineralized body is estimated to contain an
inferred resource of 19.8 Mt with average grades of 188 g/t Ta(2)O5 and
1,612 g/t Nb(2)O5, within a 100 m confidence limit. When using higher grade
cut-offs of 200 g/t Ta(2)O5, the average tantalum grades increase to 231 g/t
for the indicated portion and 225 g/t for the inferred portion. Other details
are as follow:

    
    Updated Resource Estimate for the Upper Fir Carbonatite
    -------------------------------------------------------

    Indicated Resources

    -------------------------------------------------------------------------
    Cut-off       Tonnes greater than Cut-off               Grade
    g/t Ta                (M tonnes)              Ta(2)O5 g/t   Nb(2)O5 g/t
    -------------------------------------------------------------------------
    200                       4.05                     231          1679
    150                      14.68                     190          1300
    100                      18.50                     179          1283
    -------------------------------------------------------------------------

    Inferred Resources

    -------------------------------------------------------------------------
    Cut-off       Tonnes greater than Cut-off               Grade
    g/t Ta                (M tonnes)              Ta(2)O5 g/t   Nb(2)O5 g/t
    -------------------------------------------------------------------------
    200                       5.80                     225         1,867
    150                      19.81                     188         1,612
    100                      23.93                     179         1,587
    -------------------------------------------------------------------------

    Notes:

      -  Mineral resources which are not mineral reserves do not have
         demonstrated economic viability.
      -  Not all tonnage will be recovered in mining, nor will all metal be
         recovered during milling and processing.

    The mineral resource estimations have been prepared by John Gorham,
P.Geol., an independent Qualified Person as defined by National Instrument
43-101 based on the following:

      -  mineral resources were estimated from a solid model using ordinary
         kriging and a block model with 5 m x 10 m x 10 m blocks;
      -  a specific gravity of 3.00 was utilized in converting volumes to
         tonnes; and
      -  indicated resources are those resources within 37.5 m of an existing
         data point, while inferred resources are those resources that are
         between 37.5 m and 100 m of an existing data point.
    

    The outlook for prices of tantalum and niobium are positive as
inventories continue to deplete due to the increase in consumer spending on
electronics as well as in the steel making industry. In addition, there has
been increased attention paid to alternate sources of tantalum due to market
instabilities driven by the world's largest producer, Talison Minerals Pty
Ltd. The majority of tantalum is sold under long-term contract. A premium is
put on material derived from 'conflict-free' sources. Though marketing
investigations particular to potential products from the Upper Fir carbonatite
have not yet been completed, based on producer reports, tantalum concentrate
reportedly sells for between $35 to $70+ USD/lb, while ferro-niobium sells for
between $7.50 and $13.50USD/lb.
    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. 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

For further information:

For further information: on Commerce Resources Corp., visit the
corporate website at http://www.commerceresources.com, or contact Investor
Relations at (604) 484 2700

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