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$400,000 PRIVATE PLACEMENT CANCELLED


December 27, 2007

White Rock, B.C. – Constantine Metal Resources Ltd. (TSX Venture- CEM) ("Constantine" or the "Company") announces that it will not be proceeding with and is canceling the $400,000 private placement announced on December 18, 2007.

About Constantine

The Company's Palmer project is a world class base metal exploration opportunity in a very accessible part of southeast Alaska. Constantine owns 100% of the Munro-Croesus Gold property, including the former Croesus Gold mine, consisting of 22 patented mining claims and leases (416 hectares), located 90 kilometers east of Timmins, Ontario and within the influence of the prolific Porcupine-Destor Deformation zone (PDDZ) that stretches between Timmins Ontario and Val’Dor Quebec.

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

"J. Garfield MacVeigh"
J. Garfield MacVeigh, President
Telephone: (604) 629-2348 or (709)424-0561

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. 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 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 are exploration risks detailed herein and from time to time in the filings made by Constantine with securities regulators.

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

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