Commander Provides Update on Storm Copper Property Deal

Commander Resources Ltd. (TSX VENTURE:CMD) ("Commander") reports that it has
received a second cash payment of $100,000 from Aston Bay Ventures Ltd. as part
of the $15 million Option Agreement on Commander's Storm Copper Property. Aston
Bay has now fulfilled the requirements to commence the option on the property.


The initiating terms of the option, now completed, included the total payment of
$150,000 by April 15 2012, issuance of two million shares of Aston Bay to
Commander Resources, and the completion of a first round $1 million financing.
Aston Bay may now earn an initial 50.1% interest in the property by issuing an
additional 1 million additional shares to Commander, funding $6 million in
exploration work before December 31, 2014 and obtaining a public listing on a
recognized stock exchange by December 31, 2012. For full details of the Storm
Property transaction with Aston Bay please see Commander's news release dated
November 24, 2011 or visit the company's website at www.commanderresources.com.


Aston Bay has also reported to Commander that it is ahead of schedule in
becoming publicly listed and in funding the $2 million exploration program that
is required under the option agreement. In addition, the company recently
appointed its executive and directors. The company will be headed by Mr. Dean
Besserer, P.Geol., formerly of Apex Geoscience Ltd., as President and CEO.


The Storm Property is situated on northwest Somerset Island, Nunavut. It is host
to high grade, stratabound copper mineralization with historic drill intercepts
ranging up to 53 m at 5.05% copper and 96 m at 0.96% copper, in four known
zones. The property also hosts the Seal zinc prospect, with historic assay
intervals ranging up to 18 metres grading 8.0% Zn and 28 g/t silver.


Eric Norton, President of Commander Resources, states, "We at Commander are very
pleased to see the early completion by Aston Bay Ventures of the initial terms
of the agreement and their rapid progress towards public listing. It certainly
highlights their commitment to the joint development if this exciting property."


Steve Potts, P.Geo., VP of Exploration, is the Qualified Person as defined by
National Instrument 43-101, and has reviewed and approved the technical
disclosure contained in this release.


COMMANDER RESOURCES LTD. is a diversified exploration company that employs
project generation and leverage strategies to develop Canadian resources for,
either, sale or joint venture. By employing this strategic approach Commander is
able to systematically enhance shareholder value while managing the risk
associated in exploration and development.


COMMANDER trades on the TSX Venture Exchange under the symbol "CMD". For
additional information, please visit the Company's website at
www.commanderresources.com.


On behalf of the Board of Directors,

Eric Norton, President & CEO

Commander Resources (TSXV:CMD)
過去株価チャート
から 5 2024 まで 6 2024