Overview

Frontier Nuclear and Minerals Inc. holds a ~4% interest in Commerce Resources Ltd. (“Commerce”).

Commerce owns 100% of the Ashram Rare Earth and Fluorspar Project in Quebec (the “Ashram Project”) one of the largest undeveloped Rare Earths Project in North America. The Ashram Project is one of the world’s largest monazite-dominant carbonatite-hosted Rare Earth Elements deposits with a NI 43-101 resource of 204.3 million tonnes averaging ~1.94% Total Rare Earth Oxides (TREO). (73.2 million indicated tonnes averaging 1.89% TREO and 131.1 million inferred tonnes at 1.98% TREO).

Ashrams’ mineralogy enables high-grade concentrate production at high recovery rates, a rare technical advantage that aligns it with the capabilities of current global producers. Commerce also owns 100% of the Eldor Niobium Project, located immediately adjacent to the south-east of the Ashram Project, and which is considered to be an advanced exploration stage project.

Commerce is currently in the process of merging with Mont Royal Resources Limited, and the resulting company will be a well-funded Canadian-focused critical metals company with an excellent portfolio of rare earth element projects at an advanced stage of exploration.