Commerce Resources Corp. reported that, further to its news release dated September 29, 2023, where it announced the production of 0.43 kg of mixed rare earth carbonate, it has produced an additional 0.6 kg of mixed REC concentrate to satisfy third-party sample requests from industry. The 0.6 kg sample of mixed REC concentrate produced has an NdPr distribution of 20.5% and TbDy distribution of 0.89%.

Of this mixed REC, 0.5 kg has been shipped to a well-established downstream processor of rare earth elements located outside of China. The sample meets typical market specifications and was produced through processing of feed material generated from pilot plant operations on bulk sample material collected from the Ashram Rare Earth and Fluorspar Deposit. The deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (Effective Date July 5th, 2012).

Note, mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.