Commerce Resources Announces Change in Management
Commerce Resources Announces Change in
Management
March 17th, 2025 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H0, OTCQX: CMRZF)
(the “Company” or “Commerce”) advises that Mr Ross Carroll has terminated his employment
with the Company by mutual agreement and will step down as President and Chief Executive
Officer and as a member of the board of directors effective immediately.
Mr. Jeremy Robinson, who is currently a non -executive Director, will assume the role of interim
President and Chief Executive Officer to complete the Company’s expected dual listing on the
Australian Securities Exchange (ASX) in the coming months and oversee the next phase of
development of the world-class Ashram Rare Earths Project.
Following completion of the ASX listing, the Company expects to announce the appointment of a
permanent President and CEO who will be based in North America.
Commenting on the changes, Interim President and CEO Jeremy Robinson said: “On behalf of the
Commerce board, I would like to express my thanks to Ross for his leadership and diligence over
the past six months and wish him well in his future endeavours.
“The Company is about to embark on an exciting period and I look forward to keeping
shareholders updated in the weeks and months ahead as we continue to advance the Ashram
Project towards development.”
ABOUT COMMERCE RESOURCES CORP.
Commerce Resources Corp. is a junior mineral resource company focused on the development of
the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern
Quebec, Canada. The Ashram Deposit is characterized by simple rare eart h (monazite,
bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at
favourable grade, and has demonstrated the production of high -grade (more than 30 – 45%
TREO) mineral concentrates at high recovery (more than 60 – 75%) in line with active global
producers.
The Ashram Deposit also has a fluorspar component which makes it one of the largest potential
sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar
markets. The Company is positioning to be one of the lowest cost rare earth producers globally,
with a specific focus on being a long -term supplier of mixed rare earth carbonate and/or NdPr
oxide to the global market.
Additionally, Commerce is committed to exploring the potential of other high-value commodities
on the Property such as niobium and phosphate minerals, which may help advance Ashram by
reducing costs through shared development.
For more information, please visit the corporate website at www.commerceresources.com or email
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Ian Graham
Chairman
Phone: 604.484.2700
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward -looking statements, which includes any information about activities, events or
developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking
statements in this news release include statements regarding the expected listing on the Australian Securities Exchange
and the expected appointment of a permanent president and CEO thereafter; the continued advancement of the Ashram
project to development; that Ashram’s fluorspar comp onent which makes it one of the largest potential sources of
fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets; that the Company is
positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global
supplier of mixed rare earth carbonate and/or NdPr oxide; and that the Company may explore the potential of other
high-value commodities on the Ashram Property. These forward -looking statements are subject to a var iety 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 events, activities or developments from
coming to fruition include: that the Company may not complete a listing on the Australian Securities Exchange; that
the Company may not be able to fully finance any additional exploration on the Ashram Project; that even if the
Company is able raise capital, co sts for exploration activities may increase such that the Company may not have
sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill
program and any future work programs may not be completed as proposed or at all; geological interpretations based
on drilling that may change with more detailed information; potential process methods and mineral recoveries
assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further
test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram
Project may not yield positive results, and even if such tests are successful or initial sample results are positiv e, the
economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and
other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work
and testing activities; geopolitical risks which may result in market and economic instability; and despite the current
expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on
the Ashram Project, the project may not b e commercially viable. The forward -looking statements contained in this
news release are made 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.