Commander Resources Ltd.

Commander Resources Ltd.

January 10, 2008 09:00 ET

Commander Sells Despinassy Interest to JV Partner

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2008) - Commander Resources Ltd. (TSX VENTURE:CMD) reports that it has entered into a Letter of Intent to sell its 24.5% participating interest in the Despinassy Project, Quebec to majority partner, Alto Ventures Ltd. (TSX VENTURE:ATV). Under the terms of the Letter of Intent ("LOI"), Commander will receive a lump sum cash payment of $375,000 and 1,875,000 treasury shares of ATV. Commander will retain 1% NSR royalty on 83 claims and 0.25% on the other 30 claims. Alto will have the right to buy-down the NSR on the 83 claims to 0.5% for $500,000.

Ken Leigh, President & CEO, states that, "This agreement realizes excellent immediate cash value from a non-core property in which our interest is being diluted. With ATV owning 100% of the project while we retain shares and royalties, Commander remains exposed to the future upside potential of the Despinassy Project along with other assets of ATV. This deal conforms well to the Company's overall business plan and leverage strategy."

This offer is subject to approval by the Board of Directors of Commander Resources Ltd and of Alto Ventures Ltd. Completion of the purchase is also subject to acceptance by the TSX Venture Exchange.

Commander also reports that Albert Reeve has stepped down as a Director for the Company effective December 31st, 2007. Mr. Reeve will remain as a technical advisor to the Company. The Company thanks Mr. Reeve for all of his time and effort as a Director and looks forward to his continued input in the advisory capacity.


Commander Resources Ltd. is a junior exploration company focused on gold and base metal exploration in Canada. The strength of Commander comes from a combination of aggressive land acquisition and strategic partnerships to increase exposure to discovery while mitigating risk to the shareholders. Diversification is the cornerstone of Commander's strategy and is reflected in its extensive property portfolio including the main projects, Baffin Island Gold, Hermitage Uranium and the South Voisey's Bay Nickel property.

On behalf of the Board of Directors,

Kenneth E. Leigh, President & CEO

Shares Issued: 69,849,660

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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