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2008

LATEST DRILLING DEMONSTRATES SIZE POTENTIAL OF THE SOUTH WALL MASSIVE SULPHIDE ZONES, PALMER PROJECT, ALASKA
CMR-08-14 CONTAINS 50 FT (15.2 M) 5.07% CU, 1.79% ZN, 0.29 G/T AU, 20.5 G/T AG


September 3, 2008

Vancouver, B.C. – Constantine Metal Resources Ltd (TSXV: CEM) (”Constantine” or the “Company”) is pleased to report on the latest drilling on the South Wall Target of  its copper-rich massive sulphide Palmer Project in southeast Alaska.  Constantine recognizes three distinct subparallel massive sulphide zones (South Wall Zones I, II and III). The most recent drill holes have expanded the extent of mineralization on both Zone I and Zone II and added another intercept in Zone III of the three stacked massive sulphide bodies presently known in the South Wall Target.  These significant results enable Constantine to make the following preliminary estimate of the dimensions and continuity of the sulphide lenses outlined to date, all of which remain open for additional exploration.

  • South Wall Zone I has been intersected in 6 drill holes and has an indicated strike length of 985 feet (300 meters) and a dip length of 490 feet (150 meters). CMR-08-14 in this zone has an estimated true thickness of 91 feet (27.8 meters).
  • South Wall Zone II has been intersected in 6 drill holes over a strike length of 885 feet (270 meters) and a dip length of 560 feet (170 meters).  CMR-08-19 (assays pending) has an estimated true thickness of 72 feet (22 meters).
  • South Wall Zone III has been intersected by 2 drill holes at lower elevations and may represent the upper edge of the stratigraphic uppermost sulphide zone which may extend to depth.
  • All mineralized zones are open for further exploration.
  • The Project is close to a deep sea port with good infrastructure.
  • The South Wall Zones are expected to be easily underground accessible by portal access for further exploration or development if warranted.
  • Drilling is ongoing on the South Wall target with two drill rigs.

Assay Results

The Company is also pleased to announce assay results from Zone I for CMR-08-13, partial assay results for CMR-08-14 and highlights of the ongoing two drill programs.

CMR-08-14 cut a thick copper-rich sulphide interval (Zone I) that assayed 3.16% Cu, 3.59% Zn, 0.22 g/t Au and 20.1 g/t Ag over 126.8 feet (38.65 meters) and includes a substantial higher grade interval 49.9 feet (15.21 meters) grading 5.07% Cu, 8.69% Zn, 0.18 g/t Au and 32.5 g/t Ag. The estimated true width of these intersections is approximately 60% of the core length.  CMR-08-14 also contained a second mineralized interval (Zone II) from 1,372.5 feet to 1,455 feet (core length of 82.5 feet or 25.15 meters) for which assays are pending.

CMR-08-13 returned a copper-rich footwall zone (part of Zone I) located 100 feet (30.5 meters) down dip from CMR-08-11 that assayed 3.03% Cu, 0.58% Zn, 0.15 g/t Au and 23.6 g/t Ag over 37 feet (11.3 meters) followed by 98 feet (30 meters) of massive pyrite chalcopyrite and barite-hosted sulphide mineralization assaying 0.94% Cu, 1.07% Zn located 190 feet (58 meters) downdip from the correlative interval in CMR-08-11 (please refer to long section on the Constantine website). Estimated true widths of CMR-08-13 intervals are at 70% and 45% of the drill core intervals, respectively.

Drilling highlights in progress

Zone I:  CMR-08-17 has cut 102 feet (31 meters) of copper-rich stringer and massive sulphide mineralization (Zone I), located 75 meters to the west of the CMR-08-14, Zone I intersection reported above. Samples are currently being prepared for assay.

Zone II:  CMR-08-19 has cut a core length of 126.4 feet (38.5 meters) of zinc-rich, copper bearing, barite hosted mineralization in Zone II. The estimated true width of the zinc-rich, copper-bearing, barite-hosted mineralization in CMR-08-19 is 57 % of the core length.  This hole is located 100 feet (~30 meters) to the west of the Zone II mineralization reported in CMR-08-11 and 165 feet (~50 meters) downdip.  Assay results for this intersection are pending.

Drill hole CMR-08-17 is still in progress to test for the westerly extension of Zone II intersected in CMR-08-19 described above.

CMR-08-16, located 223 feet (68 meters) down dip and 121 feet (37 meters) to the west of the Zone I intersection in CMR-08-13, intersected stringer pyrite-pyrrhotite-chalcopyrite mineralization over a 156.5 foot (47.7 meter) core length with a 26.5 foot (8.1 meter) section of massive to semi-massive pyrrhotite with lesser chalcopyrite. Assay results for this intersection are pending.

Details of the new CMR-08-13 and CMR-08-14 assay results are tabulated below.

NEW ZONE I  RESULTS,   CMR-08-13 and CMR-08-14 (South Wall Target)

ZONE I

From
(feet)

To
(feet)

Intercept
(feet)

Intercept
(meters)

Cu %

Pb %

Zn   %

Au (g/t)

Ag (g/t)

CMR-08-13

569.0

606.0

37.0

11.28

3.03

0.01

0.58

0.15

23.6

Includes

581.2

603

21.8

6.64

4.12

0.01

0.71

0.20

34.0

CMR-08-13

685.4

783.7

98.3

29.96

0.94

0.02

1.07

0.15

5.8

Includes

685.4

724.2

38.8

11.83

1.42

0.01

0.79

0.23

7.1

CMR-08-14

580.0

732.2

152.2

46.39

2.78

0.01

3.40

0.19

17.5

Includes

605.4

732.2

126.8

38.65

3.16

0.01

3.59

0.22

20.1

Includes

612.4

662.3

49.9

15.21

5.07

0.01

8.69

0.18

32.5

Includes

634.3

662.3

28.0

8.53

6.43

0.01

0.60

0.36

25.9

Includes

713.9

732.2

18.3

5.58

1.73

0.01

14.38

0.21

39.8

A tabulation of the South Wall target, stacked sulphide zones intersected in Constantine’s 2007- 2008 drilling is set out below.

SUMMARY TABLE OF ZONE I


Drill Hole

From
(feet)

To
(feet)

Intercept
(feet)

Intercept
(meters)

Cu %

Pb %

Zn   %

Au (g/t)

Ag (g/t)

CMR-07-09

502.1

581.6

79.5

22.56*

1.19

0.45

6.46

0.67

48.2

Includes

502.1

561.0

58.9

17.95

1.03

0.62

7.76

0.94

67.5

CMR-08-11

516.0

635.0

119.0

36.30*

1.54

0.45

5.45

0.47

28.5

Includes

529.0

615.1

86.9

26.50

1.81

0.62

6.61

0.63

37.0

includes

573.8

603.1

29.3

8.90

4.32

0.04

5.22

0.84

36.8

CMR-08-13

569.0

606.0

37.0

11.28*

3.03

0.01

0.58

0.15

23.6

Includes

581.2

603.0

21.8

6.64

4.12

0.01

0.71

0.20

34.0

Zone I -Ba

685.4

783.7

98.3

29.96*

0.94

0.02

1.07

0.15

5.8

Includes

685.4

724.2

38.8

11.83

1.42

0.01

0.79

0.23

7.1

CMR-08-14

580.0

732.2

152.2

46.39*

2.78

0.01

3.40

0.19

17.5

Includes

605.4

732.2

126.8

38.65

3.16

0.01

3.59

0.22

20.1

Includes

612.4

662.3

49.9

15.21

5.07

0.01

8.69

0.18

32.5

Includes

634.3

662.3

28.0

8.53

6.43

0.01

0.60

0.36

25.9

Includes

713.9

732.2

18.3

5.58

1.73

0.01

14.38

0.21

39.8

CMR-08-15

 

 

 

*

No intersection

CMR-08-16

569.0

725.5

156.5

47.7

Pending –low grade chalco-py-po

includes

699.0

725.5

26.5

8.1*

 

 

 

 

 

CMR-08-17

1048.5

1149.5

101.0

30.78*

Pending

CMR-08-18

915.4

929.0

13.6

4.15*

Pending

CMR-08-19

 

 

 

 

No intersection

* Zone I intersection shown on long section

SUMMARY TABLE OF ZONE II


Drill Hole

From
(feet)

To
(feet)

Intercept
(feet)

Intercept
(meters)

Cu %

Pb %

Zn %

Au
(g/t)

Ag
(g/t)

CMR-08-09

787.0

798.2

11.2

3.41*

0.16

0.03

11.17

0.08

18.3

CMR-08-11

915.0

982.0

67.0

20.40*

1.53

0.37

7.62

0.81

100.7

Includes

921.0

968.65

47.65

14.52

1.21

0.44

9.74

0.44

88.6

Includes

946.0

972.6

26.6

8.11

1.60

0.55

7.18

1.46

166.5

Includes

964.4

972.6

8.2

2.50

1.98

0.40

7.00

3.71

371.7

CMR-08-14

1372.5

1455.0

82.5

25.15*

Pending

CMR-08-17

In progress

 

 

 

 

 

 

 

CMR-08-18

840.4

851.3

10.9

3.32*

Pending

CMR-08-19

656.6

783.0

126.4

38.53*

Pending

* Zone II intersection shown on long section

SUMMARY TABLE OF ZONE III


Drill Hole

From
(feet)

To
(feet)

Intercept
(feet)

Intercept
(meters)

Cu %

Pb %

Zn %

Au
(g/t)

Ag
(g/t)

CMR-08-11

1153.3

1194.6

41.30

12.59*

0.47

0.15

6.27

0.30

24.3

Includes

1153.3

1177.9

24.60

7.50

0.44

0.16

8.00

0.24

30.3

Includes

1161.5

1172

10.50

3.20

0.39

0.18

11.91

0.27

33.9

CMR-08-18

723.0

725.8

2.8

0.85*

Pending

* Zone III intersection shown on long section

Discussion of Results

The South Wall, Zone I sulphide lens has been intersected by 6 drill holes and has an indicated strike length of 985 feet (300 meters) and a dip length of 490 feet (150 meters).  In this Zone, CMR-08-14 has an estimated true thickness of 91 feet (27.8 meters). The strike extent includes a distance of 490 feet (150 meters) from drill section 421200E (see website) to the surface exposure of the zone to the east, a portion of which may be oxidized.  Drill hole CMR-08-15 and the extension of CMR-08-19 below the thick Zone II intersection did not intersect Zone I. These two holes may limit the down dip southeast extent of the Zone I mineralization, however the zone remains open and strong to the west, both up and down dip, as indicated by the most westerly, thick copper-rich intersections in CMR-08-14 (this news release) and CMR-08-17 (results pending). CMR-08-18 intersected a 13.6 foot (4.15 meter) sulphide zone 490 feet (150 meters) downdip of the Zone I intersection in CMR-08-13 and this narrow intercept may represent the development of a new lens on the Zone I horizon below CMR-08-15 and CMR-08-19 or may be on the irregular eastern edge of an overall steep-plunging system.

The South Wall, Zone II sulphide lens has been intersected in 6 holes over a strike length of 885 feet (270 meters) and a dip length of 560 feet (170 meters). CMR-08-19 (assay results pending) in this Zone has an estimated true thickness of 72 feet (22 meters) in CMR-08-19 (assay results pending). The deepest intersections to date are interpreted to be Zone II mineralization in drill holes CMR-08-14 (results pending) and CMR-08-18 (results pending). The zone remains open both along strike and down dip.

A very preliminary interpretation of the geometry of the sulphide zones hints at steep-dipping, flat-plunging sulphide lenses that become successively stacked at higher stratigraphic levels with depth below surface. The South Wall, Zone III sulphide has been intersected in two drill holes (CMR-08-11 and CMR-08-18) that may represent the upper edge of the stratigraphically highest sulphide zone that may extend to depth.

A vertical long section is provided on the website to illustrate the spatial relationships and size potential indicated by the South Wall intersections. The RW Zone intersections in the upper left portion of the long section show the location of the copper-zinc rich, high-grade intersection in CMR-07- 07 (45.9 feet or14 meters of 3.8% Cu, 7.2% Zn; see news release dated September 10, 2007) that is located on the north-dipping upright limb of the fold structure. This represents the folded stratigraphic equivalent of part of the South Wall and highlights the potential to extend South Wall Zones to the west.

Long Section - Palmer Project

About Constantine

The Company owns the Palmer project, a world class base metal exploration opportunity in a very accessible part of southeast Alaska, where it has made a new high-grade, copper-rich massive sulphide discovery and is currently carrying out an aggressive two drill multi-hole program.  Constantine also owns 100% of the Munro-Croesus Gold property, including the former high-grade Croesus Gold mine, consisting of 22 patented mining claims and leases (416 hectares), located 75 kilometers east of Timmins, Ontario and within the influence of the prolific Porcupine-Destor Deformation Zone.

Please visit the Company’s website (www.constantinemetals.com) for more detailed company and project information.

"J. Garfield MacVeigh"

J. Garfield MacVeigh, President

Telephone: 778-772-4437

Notes:
Drill core was split using a diamond blade rock saw with half of each sealed in individual 6 ml polyethylene bags for analysis and half placed back in the original core box for permanent storage. The sealed samples were delivered by Company personnel directly to the Eco Tech preparation lab in Whitehorse and pulped samples were shipped by Eco Tech Laboratory Ltd. to their analytical facilities in Kamloops, British Columbia. Twenty nine elements including silver, copper, lead and zinc were determined by inductively-coupled plasma(ICP/ES) atomic emission spectroscopy, following four-acid digestion. Ore metals reporting concentrations higher than 10,000 ppm were assayed using AAS to produce the results reported herein. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS). Analytical results were monitored by insertion of two base metal standards prepared by CDN Resource Laboratories Ltd. at appropriate intervals in the sample preparation stream in addition to Eco Tech's internal analytical QC protocols including blanks and replicates.
Dr. Hardolph Wasteneys, P Geo., is the Qualified Person for the Palmer Project and an independent consulting geologist.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward looking statements:
The news release includes certain “forward-looking statements.” All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results and future plans and objectives of Constantine are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Constantine’s expectations include exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.  This news release provides assay results for specific drill holes of the 2008 Palmer drill program.  There is no assurance that assay results to be reported from other holes being drilled will provide similar results.

Palmer VMS Project Croesus Gold Project Yukon Gold Project Golden Mile Project

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