Commander Resources Ltd.

Commander Resources Ltd.

July 06, 2007 09:00 ET

Commander Resources Ltd.: Global Gold Uranium Commences Airborne Survey on Cochrane Pond

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2007) - Commander Resources Ltd. (TSX VENTURE:CMD) and Bayswater Uranium Corp. (TSX VENTURE:BAY), collectively, the "Companies" report that Global Gold Uranium LLC ("Global Gold Uranium"), a wholly owned subsidiary of Global Gold Corporation ("Global Gold") has commenced an airborne radiometric and magnetic survey over the Cochrane Pond uranium property located in southern Newfoundland. The survey, funded and operated by Global Gold, is expected to take approximately four weeks to complete and will be followed by a prospecting program.

The 5000 line kilometre survey will cover most of the 600 square km Cochrane Pond property which is owned 50:50 under a Joint Venture between Commander and Bayswater. The claims were staked jointly by the Companies in early 2006 to cover favourable geology after uranium discoveries were made on Commander's adjacent Hermitage Property. The JV partners interpret that the Cochrane Pond Property is underlain by metasedimentary and metavolcanic rocks which could host uranium mineralization. To date no significant exploration work for uranium has been done on the property.

Under an agreement reported on April 13, 2007, Global Gold Uranium may earn an initial 51% interest in the property over a four year period by making total cash payments to the Companies of US$700,000, issuing 350,000 shares of Global Gold and completing exploration expenditures of $3.5 million. The first year's committed work expenditure is $500,000. Global Gold Uranium must then increase its interest to 60% by either completing the next $2 million in exploration or by funding and delivering to the Companies a feasibility study on the property or the interests will flip such that the Companies will hold 51% and Global Gold Uranium 49% in and to the Property.

Details of the terms of the option agreement between the Companies and Global Gold Uranium can be found in Commander's news release dated April 13, 2007.


Commander Resources Ltd. is a Canadian junior exploration company with control of one of the largest new gold districts in Canada and a new uranium belt in Newfoundland. The Company also owns several high quality exploration properties that will be explored this year by partners. The Company uses a combination of aggressive land acquisition, focused projects and good deal-making to increase its exposure to success while reducing risk to shareholders.

On Behalf of the Board of Directors,

Kenneth Leigh, President & CEO

Shares Issued: 62,303,659

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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