Ashram project eyes boom: Federal funding a game-changer

Commerce Resources (TSXV: CCE, FSE: D7H0, OTCQX: CMRZF) has said recent federal government commitments to increase spending on critical minerals project could deliver substantial benefits to Commerce’s Ashram rare earths project, which is the biggest undeveloped rare earths deposit in North America.

The company noted recent reports which state the Canadian government has committed to increase spending on critical minerals projects as part of meeting its NATO expenditure targets.

Commerce CEO and president, Nicholas Holthouse, said: "This important announcement from Canadian Prime Minister Mark Carney bodes extremely well for Canada's world class array of critical minerals projects and in particular Commerce Resources' Ashram project in northern Quebec.

"Commerce will continue to work closely with Indigenous leaders, industry and government agencies to explore the appropriate shared Infrastructure options to enable the Ashram project's high value RE elements to be extracted and value added within Quebec, North America and European down stream industries".

Commerce Resources’ Ashram rare earth deposit in Quebec has emerged as a linchpin in Canada's push to secure its position as a global supplier of critical minerals. The Ashram deposit holds 73.2 million tonnes of indicated resources grading 1.89% TREO (Total Rare Earth Oxide), with a critical 21.2% neodymium-praseodymium (NdPr) content, the backbone of permanent magnets used in electric vehicle (EV) motors and missile guidance systems. Its 131.1 million tonnes of inferred resources further expand its long-term potential.

The ore's mineral composition, primarily consisting of monazite and bastnasite, facilitates efficient metal extraction with recovery rates exceeding 40%. This provides a major benefit compared to less rich ores that necessitate intricate and expensive refining methods.

The deposit's readily accessible surface exposure allows for cost-effective open-pit mining, enabling prompt recovery of valuable minerals. This contrasts sharply with underground mining operations, which typically encounter greater expenses and longer timelines.

Canada anticipates fulfilling its NATO pledge of allocating 5% of its annual GDP to military spending, partially through the advancement of critical mineral mining and refining initiatives.

Given their increasing importance to modern defense, critical minerals are transforming the nature of warfare. Developing rare earth element mines will aid Canada in achieving its US$109 billion military expenditure goal. Canadian Prime Minister Mark Carney indicated that the 5% GDP target would equate to roughly C$150 billion annually. Canada intends to reach this level, in part, by developing deposits of critical minerals. The new expenditure commitment of 5% GDP is a major increase from Canada's previous NATO commitment of 2% GDP.

NATO's proposal to raise military spending to 5% of GDP underscores the changing dynamics of warfare. Critical minerals are now vital components in defense technologies such as drones, satellites, tracking infrastructure, and cybersecurity systems.

For more information, please visit the corporate website at www.CommerceResources.com.