Vancouver, B.C. – Constantine Metal Resources Ltd. (TSX Venture- CEM) (the “Company”) is pleased to announce the start up of a 2,000 meter drill program on its Munro-Croesus gold project located 75 kilometers east of Timmins, Ontario and within the influence of the prolific Porcupine Destor Deformation Zone (PDDZ). The Timmins gold camp, located along the north side of the PDDZ, is the world’s largest Archean greenstone hosted gold producing district with greater than 65 million ounces of gold production. The Munro Croesus property includes the high grade past-producing Croesus mine (1915-1933). The mine is known to have produced some of the highest grade gold ever mined in Ontario. Five Croesus gold specimens purchased by the Ontario Geological Survey (previously the Ontario Bureau of Mines) and on loan to the Royal Ontario Museum (ROM) weigh 85 pounds collectively and contain 480.7 ounces of gold or 11,310 oz. gold per short ton (387,727 g/tonne). Three of these Croesus gold specimens will be on display at the ROM booth #845 at the PDAC, March 3-5th 2008.
The high grade gold mineralization at Croesus is displaced by an east-west fault zone and its faulted offset has not been discovered to date. The focus of the current drill program will test for the faulted extension of the spectacular high grade Croesus vein and will test for additional vein structures in the same favourable structural and stratigraphic setting that is interpreted to extend to depth.
For the Company’s flagship Palmer massive sulphide project in southeast Alaska, a drill contract has been signed for two drills, to follow up on two thick high grade massive sulphide intersections drilled late in the 2007 drill season. The two 2007 drill holes located approximately 1400 feet (~430 m) apart returned 45.90 ft (14.0 m) of 3.79% copper, 7.24% zinc, 0.37 g/t gold and 47g/t silver in CMR07-07 (see news releases dated September 26, 2007 and December 7th, 2007) and 79.5 feet (24 m) assaying 6.46% zinc, 1.19% copper, 0.45% lead, 0.67 g/t gold and 49.8 g/t silver in CMR07-09 (see news releases dated October 16, 2007 and December 7, 2007). Drilling is planned to start by mid-June 2008 with drill site preparation and some surface work, including geophysics to start in early June.
Garfield MacVeigh, President of the Company and a Qualified Person, has reviewed and approved the technical information contained in this release.
“J. Garfield MacVeigh”
J. Garfield MacVeigh, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of 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 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.