Commerce Resources Corp. said Wednesday that results of its 2007 diamond drilling program have expanded the known tantalum and niobium mineralization at the Upper Fir deposit. The deposit is located in south-central British Columbia and is wholly-owned by the company.

During 2007, 18 HQ sized drill holes totaling 4,710 meters were completed at the Upper Fir deposit. All 18 holes intersected mineralized carbonatite, thereby extending the known mineralization by an additional 250 meters to the south and 200 meters to the east of the area identified in 2006. When combined with the apparently contiguous Bone Creek occurrence (drilled in Oct. 2005), the Upper Fir Carbonatite Complex now extends approximately 800 meters east-west, by 1,400 meters north-south. The Upper Fir Carbonatite remains open to both the east and to the south.

Highlights from the 2007 program include:

– The weighted average of Ta(2)O(5) (tantalum oxide) without
application of a cutoff grade is 176g/t; with an average apparent
thickness of 55.2 meters. The weighted average grade of Nb(2)O(5)
(niobium oxide) is 1,549g/t and of P(2)O(5) (phosphate) is 3.11% over
the same interval.

– Using a 150g/t cutoff, the overall weighted average grade for
Ta(2)O(5) is 212g/t with an average true thickness of 29.7 meters.
Weighted average grades of Nb(2)O(5) and P(2)O(5) (phosphate) for the
respective intervals are 1,468g/t and 3.55% P(2)O5.

– Using a 1,500g/t cutoff for Nb(2)O(5), the overall weighted average
grade for Nb(2)O(5) is 2,587g/t with an average true thickness of
16.7 meters. Weighted average grades of Ta(2)O(5) and P(2)O(5) for
these respective intervals are 195g/t and 3.00%.

– Significant variability in grade was demonstrated by the 2007
drilling, indicating the potential for higher grade zones within the
overall Upper Fir Carbonatite. For example, maximum values of 693g/t
Ta(2)O(5) and 9,142g/t Nb(2)O(5) were recorded over one meter, and
several significant zones of enrichment were noted, such as within
Hole 28, the southernmost hole drilled to date, which contained:

– 11.00 meters between 128 and 139 meters, averaging 329g/t
Ta(2)O(5), 4,990g/t Nb(2)O(5), and 2.83% P(2)O(5);

– 17.04 meters between 92.96 and 110 meters, averaging 4,943g/t
Nb(2)O(5), 153 g/t Ta(2)O(5), and 2.21% P(2)O(5).

– Additional examples of higher grade mineralization which are
correlative between drill holes, follows:

– 17 meters from 48 to 65 meters, averaging 232g/t Ta(2)O(5),
1,789g/t Nb(2)O(5), and 3.25% P(2)O(5) (Hole No. F07-18);

– 9 meters from 73 to 82 meters, averaging 284g/t Ta(2)O(5),
2,309g/t Nb(2)O(5), and 3.20% P(2)O(5) (Hole No. F07-19);

– 12 meters from 62 to 74 meters, averaging 245g/t Ta(2)O(5),
1,581g/t Nb(2)O(5), and 2.91% P(2)O(5) (Hole No. F07-20).

President of Commerce Resources David Hodge comments, "We are very excited by these results because they not only show an increase in the size of the Upper Fir Carbonatite, but also the discovery of zones of enriched grades of tantalum and niobium. These results point to an extension of the potential life span of this project. Our primary direction is the focus on the development of this near surface deposit, although we will continue our exploration of the other Blue River carbonatites under claim."

About Commerce Resources Corp.

Commerce Resources Corp.'s stated goal is to become the world's next source of tantalum and niobium. Commerce is an active tantalum and niobium explorer in North America, with a focus on developing the Upper Fir Deposit in British Columbia and the Eldor Deposit in Quebec.

Exploration to date at the Upper Fir deposit has outlined an indicated resource of 8.6Mt with 208.2 g/t Ta(2)O(5) and 1,372.6 g/t Nb(2)O(5) and an inferred resource of 5.5Mt with 208.2 g/t Ta(2)O(5) and 1,349.9 g/t Nb(2)O(5) (Gorham, 2007). Exploration to date at the Fir Deposit has outlined an indicated resource of 5.65Mt with 203.1g/t Ta(2)O(5) and 1,047g/t Nb(2)O(5) (Verzosa, 2003). The Fir is also host to an inferred resource of 6.7Mt with 203.1 g/t Ta(2)O(5), and 1,047 g/t Nb(2)O(5) (Verzosa, 2003). The Verity Deposit, 10 km north of the Fir deposit, is estimated to host an inferred resource of 3.06Mt with 196g/t Ta(2)O(5), 646g/t Nb(2)O(5) and 3.20% P(2)O(5) (McCrea, 2001). – Edited Press Release