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2008

CONSTANTINE DRILLS MORE SOUTHWALL SULPHIDE
CMR08-19 ASSAYS 1.09% CU, 8.57% ZN, 0.25G/T AU, 31.88G/T AG OVER 50.1FT (15.3M)
PALMER PROJECT, ALASKA


October 10, 2008

Vancouver, B.C. – Constantine Metal Resources Ltd (TSXV: CEM) (“Constantine” or the “Company”) is pleased to report more results from the South Wall Target at its copper-rich massive sulphide Palmer Project in southeast Alaska where drilling has now been completed for the 2008 season.  The highlight of recently received assay results is from Zone II in CMR08-19 that includes a 50.1 foot (15.27 meter) core length of 1.09% copper, 8.57% zinc, 0.09% lead, 0.25 g/t gold and 31.9 g/t silver within a 126.4 foot (38.53 meter) interval assaying 0.64% copper, 0.18% lead, 6.91% zinc, 0.21 g/t gold and 24.9 g/t silver.  

In the 2008 drilling season, Constantine completed 10 holes (2 abandoned) resulting in 17 mineralized intersections, for an aggregate of 14,421 feet (4,395 meters) of drilling.  The exploration to date has shown that there is now a minimum lateral extent of mineralization in the South Wall target of 1000 feet (~300 meters) horizontally by 1000 feet (~300 meters) vertically in three zones and all zones are open to expansion. 

Stratigraphically correlated mineralization was also previously discovered (2007) in the upright limb of the fold where CMR07-07 intersected 46 feet (14 meters) of 3.79% copper and 7.24% zinc, located 1400 feet (430 meters) to the west and 650 feet (200 meters) higher in elevation than the Southwall discovery hole CMR07-09. The CMR07-07 intersection was not followed up in 2008 drilling and is expected to be a target of 2009 drilling.

Assay Results

New assay results for Zone II mineralization in CMR08-14 returned 73.7 feet (22.46 meters) of 0.27% copper, 0.33% lead, 1.82% zinc, 0.21 g/t gold and 33.85 g/t silver. The Zone II intercept is located 300 feet (93 meters) west and 120 feet (37 meters) lower in elevation than the Zone II intercept in CMR08-22 and is considered to represent the upper or updip edge of Zone II.  The true thickness of the intersection is unknown, however it is oblique to the trend of the zone. It is notable that CMR08-14 continued in highly altered and mineralized rock, that probably represents footwall alteration to Zone III mineralization, to the end of the hole at 1723 feet. Assay results for this part of the hole are still pending. Visible gold was noted in one sample from Zone II (reported above) and in the altered and mineralized interval at the end of the hole for which metallics assays are being requested.

A correction is required for a sub-interval of Zone I mineralization in CMR08-14 that was previously reported as 49.9 feet (15.21 meters) grading 5.07% copper, 8.69% zinc, 0.18 g/t gold and 32.5 g/t silver (see news release dated September 3, 2008). The corrected values for this interval are 5.07% copper, 1.79% zinc, 0.29 g/t gold and 20.5 g/t silver.

Assay results for Zone II in CMR08-18 contained 2.82% copper, 4.73% zinc, 0.42 g/t gold and 23.54 g/t silver over 10.9 feet (3.32 meters). The intersection is approximately 160 feet (50 meters) downdip of Zone II in CMR08-19. A deeper section of mineralization in CMR08-18, that is tentatively correlated with Zone I, returned values of 0.96% copper, 0.15% lead, 3.95% zinc, 0.10 g/t gold and 10.27 g/t silver over 13.6 feet (4.15 meters).

CMR08-19 (highlighted above) cut a thick zinc-rich sulphide interval (Zone II) that assayed 0.64% copper, 0.18% lead, 6.91% zinc, 0.21 g/t gold and 24.9 g/t silver over 126.4 feet (38.5 meters) core length and includes a higher grade interval of 50.1 feet (15.27 meters) of 1.09% copper, 8.57% zinc, 0.09% lead, 0.25 g/t gold and 31.9 g/t silver. The estimated true width of these intervals is approximately 60% of the core length. This hole is located 100 feet (~30 meters) to the west of the Zone II mineralization reported in CMR08-11 and 165 feet (~50 meters) downdip.

All intersections will be plotted on vertical long sections of the mineralized zones on the Constantine website www.constantinemetals.com.   

Pending Assay Results

Zone I
CMR08-16, located 223 feet (68 meters) down dip and 121 feet (37 meters) to the west of the Zone I intersection in CMR08-13, 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.

CMR08-17 cut 102 feet (31 meters) of copper-rich stringer and massive sulphide mineralization (Zone I), located 75 meters to the west of the high grade copper rich zone in CMR08-14 and 130 feet (40 meters) higher in elevation. Sample results are pending for this interval.

Zone II
CMR08-17 has cut a core length of 15.3 feet (4.66 meters) of zinc-rich, mineralization in Zone II located about 300 feet (90 meters) west of the CMR08-19 intersection reported above. The intercept is interpreted to be at the topmost edge of Zone II. Assay results for this intersection are pending.

CMR08-22 intersected copper and zinc-rich Zone II mineralization over a core length of 98.5 feet with a total cumulative massive sulphide thickness of 45.2 feet (13.8 meters). The intersection is located midway between Zone II intersections in CMR08-17 and CMR08-19 and 115 feet (35 meters) lower in elevation

Zone III
Several drill holes have intersected the interpreted upper edge of Zone III, however no holes have yet tested the downdip potential of this mineralization. Assay results received to date for Zone III are tabulated in the Zone III Summary Table below and are shown on the Zone III vertical long section on the Constantine website.

A mineralized barite-sericite schist interval in CMR08-17 from 1750.8 to 1767.7 (16.9 feet or 5.15 meters) probably represents the very up-dip edge of Zone III mineralization approximately 330 feet (100 meters) to the west of a narrow Zone III intersection in CMR08-18 over 2.8 feet (0.85 meters). Results are pending for both these intervals.

CMR08-21 intersected Zone III barite with some pyrite, sphalerite and chalcopyrite from 578.5 to 591 feet (12.5 feet or 3.81 meters) followed by a weakly mineralized barite – chert bearing interval from 606 to 621 feet (15 feet or 4.57 meters). The intersection is 180 feet (55 meters) updip and 50 feet (15 meters) east of the nearest Zone III intersection in CMR08-11. Assays are pending for these sampled intervals.

Summary Tables for Zones I, II and III
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)

CMR07-09

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

CMR08-11

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

CMR08-13

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

CMR08-14

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

1.79

0.29

20.5

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

CMR08-15

 

 

 

*

No intersection

CMR08-16

569.0

725.5

156.5

47.7

Pending –low grade chalco-py-po

includes 

699.0

725.5

26.5

8.1*

 

 

 

 

 

CMR08-17

1048.5

1149.5

101.0

30.78*

Pending

CMR08-18

915.4

929.0

13.6

4.15*

0.96

0.15

3.95

0.10

10.3

Includes

915.4

923.3

7.9

2.41

0.73

0.26

6.56

0.11

9.6

CMR08-19

 

 

 

 

No intersection

CMR08-20

 

 

 

 

Abandoned

CMR08-21

 

 

 

 

No intersection

CMR08-22

 

 

 

 

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)

CMR08-09

787.0

798.2

11.2

3.41*

0.16

0.03

11.17

0.08

18.3

CMR08-11

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

CMR08-14

1372.0

1450.0

78.0

23.77*

0.26

0.31

1.82

0.20

32.8

Includes

1372.0

1408.0

36.0

10.97

0.17

0.44

2.05

0.23

40.6

Includes

1408.0

1417.7

9.7

2.96

0.35

0.26

2.10

0.45

78.16

CMR08-17

1633.1

1648.4

15.3

4.66

Pending

CMR08-18

840.4

851.3

10.9

3.32*

2.82

0.03

4.73

0.42

23.5

CMR08-19

656.6

783.0

126.4

38.53*

0.64

0.18

6.91

0.21

24.9

Includes

656.6

706.7

50.1

15.27

1.09

0.09

8.57

0.25

31.9

CMR08-20

 

 

 

 

Abandoned

CMR08-21

 

 

 

 

No significant intersection

CMR08-22

770.0

868.5

98.5

30.02*

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)

CMR08-11

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

CMR08-17

1750.8

1767.7

16.9

5.15*

 

 

 

 

 

CMR08-18

723.0

725.8

2.8

0.85*

Pending

CMR08-21

587.5

591.0

12.5

3.81*

Pending

and

606.0

621.0

15.0

4.57

Pending

* Zone III intersection shown on long section

2008 Palmer Project Drill Program

Drilling has been completed on the Palmer Project for the 2008 drill season and both diamond drills have been demobilized from the property.

Additional analytical data is pending for several intersections (see tables above) and a large number of non-rush assays are still being processed. Once all the 2008 analytical data is received it will provide important information for planning the 2009 program. In particular, the copper-zinc zonation within the individual zones appears to be a particularly useful tool and a preliminary review highlights the potential to the west and downdip on the Zone I horizon and the depth potential for Zones II and III based on the current intersections. This data will be summarized once the pending intersection results are received. The strong chalcopyrite-pyrrhotite mineralization that has been recognized for the first time at depth on the South Wall Zones also highlights the application of electromagnetic geophysical techniques, both in-hole and on surface. With this in mind, a 6.2 mile (10 kilometer) surface grid established on the east extension of the Glacier Creek prospect was surveyed with CSAMT (Controlled Source Audio Magneto Tellurics). The preliminary results of this data indicate that several very low resistivity (conductive) zones have been identified over a 3300 foot (~1000 meter) strike length, to the east limit of the surveyed area that is 4500 feet (~1400 meters) east and on trend with the Glacier Creek prospect and the South Wall discovery.  The preliminary data identifies several priority geophysical targets that may represent massive sulphides that are linked to the Glacier Creek prospect.

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 has just completed a 12 hole, 14,421 foot (4,395 meter) drill 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.
Darwin Green,, P Geo., is the Qualified Person for this news release..

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.

VERTICAL EAST-WEST LONG SECTION
SOUTH WALL ZONE I
PALMER PROJECT ALASKA


Click image to enlarge

VERTICAL EAST-WEST LONG SECTION
SOUTH WALL ZONE II
PALMER PROJECT ALASKA


Click image to enlarge

COMPOSITE EAST-WEST LONG SECTION
SOUTH WALL ZONE III
PALMER PROJECT ALASKA


Click image to enlarge

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

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