| ||June 23, 2003|
Baffin Island Gold Exploration
| ||Vancouver, B.C. - Commander Resources Ltd. (CMD: TSX Venture Exchange) (the 'Company') announces that further to the Company's news release of April 29, 2003, the preliminary interpretation of the deep penetrating airborne MegaTEM survey over the South Voisey Bay Project has been received. The survey has identified nine conductive trends which will now be subject to ground geophysical follow-up to select and accurately locate targets for diamond drilling.|
In the North Gabbro area, on ground held by Commander/Donner, SVB Nickel Company Ltd. ('SVBN'), Donner/Northern Abitibi and SVBN/Pallaum, there are six conductive trends that have been identified by the MegaTEM survey. Significant portions of three of these trends are located on Commander/Donner's Sarah Lake property. The ground follow-up will consist of deep sensing AMT electromagnetic ('EM') ground geophysics to be followed by large loop EM surveys (UTEM). These ground follow-up surveys will be in the general area of the highest grades and nickel tenors intersected on the SVB Project to date. High priority anomalies will be selected for diamond drilling.
The 2003 program is being carried out by Falconbridge Limited. Falconbridge can earn a 50% interest in the entire South Voisey Bay Project, which includes four ownership blocks, by spending $23 million on exploration over a five-year period. Falconbridge had spent approximately $2.3 million to the end of 2002 and is required to spend an additional $1.7 million in 2003 to maintain its option.
On the Commander/Donner joint venture property Falconbridge can earn a 50% interest by spending $4 million on exploration between 2001-2006. The property is currently owned 48% Commander and 52% by Donner. After earn-in Falconbridge will own 50%, Commander 24% and assuming Teck exercises its Donner back-in rights Teck and Donner will each have 13%.
William J. Coulter
For more information, please contact:
Commander Resources Ltd.
1550-409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254 Fax (604) 685-2814
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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