Commander Resources Ltd.
TSX VENTURE : CMD

Commander Resources Ltd.

March 02, 2009 09:00 ET

Commander Seeks Partner for the Orion Gold Deposit, Newfoundland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - Commander Resources Ltd. (TSX VENTURE:CMD) owns 100% of the Orion Gold Deposit, Newfoundland, discovered and drill tested by about 50 diamond drill holes in the mid-1990's. Based on the drilling completed by Commander's predecessor Company, Major General Resources in the 1990's, the Orion Deposit contains a potential resource ranging from 300,000 tonnes grading 8 g/t gold (approx. 80,000 contained ounces) to 740,000 tonnes grading 5 g/t gold (approx. 120,000 contained ounces). In the current gold market, Commander believes there is significant potential to attract a development partner to advance the project and realize value for its shareholders.

A review of the historical data has determined that there may be sufficient drilling and data in place to qualify the current resource. However, presently, in accordance with NI 43-101, the potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource as defined in NI 43-101. Commander intends on commissioning an independent NI 43-101 technical report to qualify the historical resource data. Exploration potential to expand the resource exists at depth and along strike to the northeast. Maps, sections and summary geological information regarding this deposit will be posted on the Company's website shortly.

The Orion gold deposit is ideally located for potential near term development, four kilometres from a paved highway and directly connected by a good gravel road. Power is available at the recently closed Hammerdown Mine two kilometres away. Nearby, the Nugget Pond gold mill, which processed all of Hammerdown ore (315,000 tonnes grading 16.1 g/t gold), with 98% gold recovery, is currently processing gold ore, the source of which is closing after stockpiles are depleted. Local communities in the area have a total population in excess of 15,000 people, with many experienced miners and construction workers. The Nugget Pond mill and Tailings Pond are fully permitted, a fact that may greatly reduce permitting time for an underground mining operation. Capital and operating costs may also be lower, as roads, power, workforce and milling facilities are all in place.

The deposit is situated within the same stratigraphy and deformation zone as the Hammerdown deposit. Commander sold Hammerdown to Richmont in the late 1990's. The Orion deposit was considered too low grade when the nearby Hammerdown Deposit was mined by Richmont in the early 2000's because gold prices were under US$300 per ounce.

Basis for Historical Resource Determination

Two dominant vein systems and one minor vein comprise the resource base of Orion. The historical resources were calculated by Commander utilizing polygons along longitudinal section. Polygons were digitally prepared utilizing drill intercepts with boundaries equidistant to surrounding drill holes. Holes were drilled mainly on 50 metre spaced lines with down section intercepts averaging close to 40 metres. Minimum mining widths of 1.2 metres were assigned to each block; volumes were digitally calculated. Densities of 2.75 grams per cubic centimetre were assigned, same as at nearby Hammerdown as ore mineralogy is similar. Early resource estimates at Hammerdown utilized the same drill spacing and database, which closely reflected final ore reserve figures.

Bernard Kahlert, P.Eng is the Qualified Person under NI 43-101 responsible for the work completed on the Orion deposit in the 1990's and has reviewed and approved the contents of this release.

On Behalf of the Board of Directors,

Kenneth Leigh, President & CEO

Shares Issued: 79,572,516

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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