Commerce Resources Corp. Reports Saville Resources Inc. Receives Regulatory Approval of Closing of Transaction
TSX VENTURE: CCE
Vancouver, British Columbia (FSCwire) - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company”) reports that Saville Resources Inc. has received TSX Venture Exchange approval for the transaction previously announced as the Exploration Earn-in Agreement for the Niobium Claim Group Property (see news release dated January 11, 2018).
Commerce President Chris Grove states, “We are excited to see this collective opportunity moving forward on these claims that we have worked on previously, and look forward to the results from Saville’s initial drill program once completed.”
Saville Resources Inc. currently has a work program underway at the Niobium Claim Group Property delineating drill targets.
The Niobium Claim Group Property is comprised of a sub-set of the Eldor Property claims and is under the Exploration Earn-in Agreement with Saville, whereby Saville may earn up to a 75% interest, subject to certain terms and conditions. Pursuant to the agreement, the cash payment of $225,000 CAD has been made.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
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.