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1,000,000 UNITS NON-BROKERED FINANCING ANNOUNCEMENT


December 18, 2007

White Rock, B.C. – Constantine Metal Resources Ltd. (TSX Venture- CEM) ("Constantine" or the "Company") retracts its news release issued on December 17, 2007 and is issuing the following news release in its place. Constantine is pleased to announce a non-brokered, non-flow-through private placement of up to 1,000,000 units at a price of $0.40 for gross proceeds of up to $400,000. Each unit will consist of one common share and one full warrant, exercisable at $0.60 for a period of two years. The Company will pay a finder's fee of 7.5% payable in units.

The proceeds from the sale of the flow-through shares will be used for general corporate purposes and for exploration on the Company's Palmer project in Alaska.

The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons without registration or applicable exemption from the registration requirement of such Act. This release does not constitute an offer for sale of such securities in the United States of America.

This financing is subject to the approval of the TSX Venture Exchange.

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.

"Aris Morfopoulos"
Aris Morfopoulos, CFO
Telephone: (604) 721-2650

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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