Constantine Metal begins 2,000 m of drilling at Palmer

Jun 13, 2017

CONSTANTINE COMMENCES 7000M DRILL PROGRAM AT PALMER COPPER-ZINC-SILVER-GOLD PROJECT, SOUTHEAST ALASKA

Constantine Metal Resources Ltd. has commenced a 7,000-metre program with two drills at the Palmer joint venture project, Alaska, as part of a $7.0-million (U.S.) total budget. Palmer is a high-grade volcanogenic massive sulphide (VMS) project, with an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver*.

The majority of 2017 drilling is dedicated to discovery of new mineral deposits. The balance is for expansion and upgrade of the existing South Wall-RW Zone resource, and geotechnical studies. Palmer is host to numerous high-quality prospects with large hydrothermal alteration zones and high-grade base and precious metal mineralization exposed at surface {A –} most of which have never been drilled. Property-wide airborne electromagnetic geophysical surveying, geological mapping and prospecting work are also included in the summer exploration plans.

Priority exploration targets include the Cap, Nunatak, HG, and JAG prospects that collectively define a several kilometers long, stratigraphically linked corridor of mineralization that is parallel to the South Wall{A –}RW Zone trend. It is anticipated that the airborne geophysical survey, which is scheduled to start mid to late June, will contribute to the property-wide drill targeting.

About the Palmer Project

Palmer is an advanced stage, high-grade volcanogenic massive sulphide (VMS) project, with an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver*. The Project is being advanced as a joint venture between Constantine (51%) and Dowa (49%), with Constantine as operator. The project is located in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 kilometers of the year-round deep sea port of Haines. Mineralization at Palmer occurs within the same belt of rocks that is host to the Greens Creek mine, one of the world’s richest VMS deposits. VMS deposits are known to occur in clusters and with at least 25 separate base metal and/or barite occurrences and prospects on the property, there is abundant potential for discovery of multiple deposits at Palmer.

About the Company

Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. In addition to the Company’s flagship copper-zinc-silver-gold Palmer Joint Venture Project, Constantine also controls a portfolio of high-quality, 100% owned, gold projects in the Timmins camp Ontario. This includes the large, well located Golden Mile Property in Timmins and the Munro Croesus Gold Property that is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.

* 8.125 million tonne inferred resource grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver. See the Company’s news release date May 11, 2015 and available on www.sedar.com. Resource estimate utilizes an NSR cut-off of US$75/t with assumed metal prices of US$1200/oz for gold, US$18/oz for silver, US$2.75/lb for copper, and US$1.00/lb for zinc. Estimated metal recoveries are 89.6% for copper, 84.9% for zinc, 75% for gold (61.5% to the Cu concentrate and 13.5% to the Zn concentrate) and 89.7% for silver (73.7% to the Cu concentrate and 16% to the Zn concentrate) as determined from metallurgical locked cycle flotation tests. An “Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure.

Darwin Green, VP Exploration for Constantine Metal Resources Ltd. and a qualified person as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release.

http://constantinemetals.com/news/2017/

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