An inferred resource of 3.06 Mt grading 196 g/t Ta2O5, 646 g/t Nb2O5 and 3.2% P2O5 is delineated by limited diamond drilling. In addition to Commerce, several other junior companies have acquired lands in the area as illustrated by the map on the next page. In some cases, these other claims, including some held by Commerce, cover smaller
exposures of carbonatite Carbonatite (a calcium carbonate rich body of volcanic origin) was first discovered in the area in
1949.

For the next +30 years the Blue River
property was explored for various commodities
with Anschutz Mining Ltd. outlining the Ta and Nb resource during the late 1970’s-early 1980’s. This was the period of the last price spike in tantalum and until recently, little attention had been paid to the property.

In early 2000, Commerce began work on Blue
River and since then has undertaken a program of sample collection for mineralogical studies, geologic mapping, prospecting, gridding, line cutting, and magnetometer surveys. Our understanding is that permits for drilling have been obtained and a fall drilling program consisting largely of confirmation drilling is
planned. Tantalum and niobium mineralization occurs in the form of pyrochlore, an accessory mineral occurring in alkaline intrusive rocks and in carbonatites. As part of its structure, pyrochlore can contain Ta, Nb, U, Th, F. and Ti.