Commerce Resources

Commerce Resources Corp. is a junior mineral resource company, founded in 1999, focused on the exploration and development of critical mineral deposits in Québec, Canada. The company's operations are centered on its 100%-owned Eldor Property, which hosts the flagship Ashram Rare Earth and Fluorspar Deposit. This deposit is recognized as one of the largest monazite-dominant, carbonatite-hosted Rare Earth Element (REE) resources in North America. The company's business model is to advance the Ashram Project toward production, positioning itself as a long-term, low-cost supplier of mixed rare earth carbonate and/or specifically Neodymium-Praseodymium (NdPr) oxide to the global market. These elements are crucial for manufacturing high-strength permanent magnets used in electric vehicles, wind turbines, and other advanced technologies.

The company's primary asset, the Ashram Deposit, is a large, single mineralized body that outcrops at the surface, making it favorable for a potential open-pit mining operation. An updated Mineral Resource Estimate (MRE) in May 2024 highlighted an indicated resource of 73.2 million tonnes at 1.89% Total Rare Earth Oxide (TREO) and an inferred resource of 131.1 million tonnes at 1.91% TREO. A significant feature of the deposit is its high concentration of valuable magnet feed REEs, with NdPr distributions around 21.2% in the indicated resource. The deposit also contains a substantial fluorspar component, presenting an additional revenue opportunity by supplying the metallurgical and acid-spar markets. Adjacent to Ashram, the Eldor Property also holds promising niobium prospects, which the company is actively exploring. In April 2025, Commerce Resources entered into a merger agreement with Mont Royal Resources, aiming to create a combined, dual-listed (ASX/TSXV) critical metals company focused on Québec.

Commerce generates value by de-risking its assets through systematic exploration, drilling programs, and metallurgical testing. The company has completed pilot plant programs that have successfully demonstrated a scalable metallurgical process, producing high-grade mineral concentrates (over 45% REO) with high recovery rates. Its strategy involves securing financing for project development and infrastructure, including applying for funding from government initiatives like Canada’s Critical Mineral Infrastructure Fund (CMIF). The company targets partners and end-users in the technology and manufacturing sectors who require a stable, long-term supply of critical minerals from a secure North American jurisdiction. Leadership includes experienced mining executives such as CEO Nick Holthouse, Director Jeremy Robinson, and a board with extensive experience in mineral exploration, project delivery, and finance.

Keywords: rare earth elements, fluorspar, niobium, critical minerals, mineral exploration, mining development, Ashram Deposit, Eldor Property, monazite, carbonatite, neodymium, praseodymium, magnet materials, junior mining, Quebec mining, resource estimation, metallurgy, open-pit mining, project financing, strategic minerals, supply chain, green technology metals, tantalum, EV materials, wind energy components, mineral processing, geological surveying, resource development, exploration drilling