Commerce Resources Corp.
TSX VENTURE : CCE

Commerce Resources Corp.

October 17, 2005 19:59 ET

Commerce Resources Corp.: First Phase of Three Phase Exploration Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2005) - Commerce Resources Corp. (TSX VENTURE:CCE) (the "Company") announces that it has initiated drilling at its wholly owned Fir Property located near Blue River, British Columbia. Drilling will include an initial two holes at the Bone Creek Carbonatite, and four holes at the Upper Fir Carbonatite.

Upper Fir Carbonatite

The Upper Fir Carbonatite, located 1,200m east of the Fir Carbonatite, was discovered during an exploration program in 2002. Subsequent exploration included geologic mapping, sampling and a soil geochemistry survey. Exploration to date has shown the Upper Fir to be similar in character to that observed at the main Fir Deposit. In 2002, several rock samples were collected from poor exposures of beforsite carbonatite. Results varied from 135 to 266 g/t Ta2O5, and 2,260 to 6,738 g/t Nb2O5 (or 0.67% Nb2O5). The 2005 exploration will provide information on the thickness, extent and character of mineralization associated with the Upper Fir Carbonatite.

Bone Creek Carbonatite

The Bone Creek carbonatite, which was previously tested by 17 core holes in 1981 by Anschutz Mining Corp., is up to 5 m thick and is known to contain significant concentrations of Uranium. Prior grab samples have returned between 153 and 231 ppm Uranium. Quantitative microprobe analysis pyrochlores from the Bone Creek Carbonatite (Mariano, 1979) have shown between 13.52 and 14.71 per cent UO2. The 2005 drilling is expected to provide a better understanding of the distribution of tantalum, niobium and uranium mineralization within the Bone Creek Carbonatite.

About Commerce Resources Corp. - www.commerceresources.com

Commerce Resources Corp. continues to maintain its focus on the development and exploration of its Fir and Verity tantalum and niobium projects covering 49 square kilometers in British Columbia, Canada. The Company is one of the most active tantalum explorers in North America, conducting detailed exploration of its Fir and Verity deposits. Exploration to date at the Fir deposit has outlined an indicated resource of 5.65Mt with 203.1 g/t Ta2O5 and 1,047 g/t Nb2O5 (Verzosa, 2003). The Verity deposit, 10 km north of the Fir property, is host to an estimated inferred resource of 3.06Mt with 196 g/t Ta2O5, 646 g/t Nb2O5 and 3.20% P2O5 (McCrea, 2001). Commerce Resources Corp. trades on the TSX Venture Exchange under the symbol "CCE".

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

Jody Dahrouge, P.Geol., VP Exploration

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Commerce Resources Corp.
    Jody Dahrouge, P.Geol.
    VP Exploration
    (604) 484-2700 or Toll Free: 1-866-484-2700
    (604) 681-8240 (FAX)
    www.commerceresources.com