VANCOUVER, July 5, 2012 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company") announces that,
further to its news release of May 24, 2012, it has filed its National
Instrument 43-101 Technical Report entitled, "Preliminary Economic
Assessment, Ashram Deposit for Commerce Resources Corp." ("PEA") dated
July 5, 2012, on SEDAR at http://www.sedar.com. The report has also been posted to the Company's website here.
The following Qualified Persons for the PEA, as defined by National
Instrument 43-101, are SGS Geostat employees, based out of Montreal
(Blainville): Gaston Gagnon, Principal Mining Engineer, Ing. and
Gilbert Rousseau, Principal Metallurgical Engineer, Ing. The findings
of the PEA indicate that the deposit can be developed economically as
an open-pit mine and recommends future work applicable to the
pre-feasibility and feasibility phases of economic evaluation. The
Eldor Property is located within the Labrador Trough, northeastern
Quebec, approximately 130 kilometers south of the community of
About Commerce Resources Corp.
Commerce Resources Corp. is focused on building shareholder value
through the discovery and development of Canadian rare metal and rare
earth element deposits. Commerce's principal assets are its Blue River
Tantalum-Niobium Project in British Columbia and its Eldor Rare Earth
Project in Quebec. Commerce Resources Corp. trades on the TSX Venture
Exchange under the symbol "CCE", the Frankfurt Stock Exchange under the
symbol "D7H" and the U.S. OTCQX under the symbol "CMRZF."
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
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.
This news release contains forward-looking information which are subject
to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ from those projected in the
forward-looking statements. Forward looking statements in this press
release include that that the Ashram deposit can be developed
economically as an open-pit mine and recommends future work applicable
to the pre-feasibility and feasibility phases of economic evaluation;
and that we can build shareholder value through the discovery and
development of Canadian rare metal and rare earth element deposits.
These forward-looking statements are based on the opinions and
estimates of management and its consultants at the date the information
is disseminated. They are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information. Risks that could change or prevent these statements from coming to
fruition include changing costs for mining and processing; changing
forecasts of mine production rates; the timing and content of upcoming
work programs; geological interpretations based on drilling that may
change with more detailed information; potential process methods and
mineral recoveries assumption based on limited test work; the
availability of labour, equipment and markets for the products
produced; market pricing for the products produced; and despite the
current expected viability of the project, conditions changing such
that the minerals on our property cannot be economically mined, or that
the required permits to build and operate the envisaged mine can be
obtained. The forward-looking information contained herein is given as
of the date hereof and the Company assumes no responsibility to update
or revise such information to reflect new events or circumstances,
except as required by law.
For further information:
For more information on Commerce Resources Corp. visit the corporate website at http://www.commerceresources.com or contact investor relations at 1.866.484.2700 or email@example.com.