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$1.4 MILLION UNIT FINANCING CLOSED


November 27, 2009

Constantine Metal Resources Ltd. (TSX Venture- CEM) ("Constantine" or the "Company") is pleased to announce that its non-brokered unit private placement has closed.  The Company has issued 7,000,000 units at a price of $0.20 per unit for gross proceeds of $1,400,000.  The units consist of one share and one half warrant.

Each warrant entitles the holder thereof to purchase one Share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period of two years.

In addition the Company has issued 217,500 units and 217,500 compensation warrants to a finder. The finder's compensation warrants are exercisable at a price of $0.30 per warrant for a period of one year.  

The securities are subject to a four-month plus one-day hold period from November 24, 2009 in accordance with applicable securities laws.

The proceeds from the sale of the units will be used to fund exploration work on the Company's Palmer Project in Alaska and general corporate purposes.

About Constantine

The Company's Palmer project is a world class base metal exploration opportunity in a very accessible part of southeast Alaska.  Constantine also owns 100% of the 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.

On Behalf of Constantine Metal Resources Ltd.

“Aris Morfopoulos”

Chief Financial Officer

Investor relations enquiries, please contact:
R.E. (Bob) Jeffery
Phone: 250-335-2011
Email: bob@constantinemetals.com or Email: info@constantinemetals.com
www.constantinemetals.com


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, financing plans and other 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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