Constantine Commences Drilling on the Palmer VMS Project, Alaska $3.0 Million Budget for 2013

Constantine Metal Resources Ltd. (TSX VENTURE:CEM) ("Constantine" or the
"Company") is pleased to announce it has commenced a 4000 meter drilling program
on its Palmer VMS Project, Alaska ("Palmer" or "Project"). The drill program is
part of a $3.0 million budget for 2013 that includes a cash payment of $500,000,
funded by Dowa Metals & Mining Co., Ltd. of Japan ("Dowa"). 


Palmer is a high-grade VMS project located in a very accessible part of coastal
southeast Alaska, with road access to the edge of the property and within 60
kilometres of the year-round deep sea port of Haines. The Project is host to a
NI 43-101 compliant 4.75 million tonne inferred resource estimate grading 1.84%
copper, 4.57% zinc, 0.28 g/t gold and 29 g/t silver(i). The current drill
program includes plans for 10 to 15 holes focused on the South Wall and RW
Zones, both of which are open to expansion in multiple directions. The 2013
program will also include metallurgical test work, downhole geophysics, and
environmental baseline surveys. 


Under the terms of an Option and Joint Venture Agreement, Dowa has the option to
earn a 49% interest in the Project by making aggregate expenditures of
US$22,000,000 over a four year period. Expenditures for each year shall not be
less than US$3,000,000, with Dowa funding a minimum of US$3,000,000 in year one
as a firm commitment. Included in the aggregate expenditure are cash payments to
Constantine totalling US$1,250,000 over four years, of which US$500,000 was
received upon signing of the Agreement. Constantine is the Operator for work
programs during the earn-in period.


"We are pleased to have Dowa as a partner to advance and develop our flagship
Palmer Project and further demonstrate its potential" comments Garfield
MacVeigh, President and CEO.


About the Palmer VMS Project

The Palmer Project is a volcanogenic massive sulphide (VMS) type deposit that is
located within the same belt of rocks that is host to the Greens Creek and Windy
Craggy VMS deposits - both widely recognized to be world class systems. Drilling
of 42 holes by Constantine between 2006 and 2010 led to the discovery of thick
continuous zones of massive sulphide mineralization at the South Wall and RW
Zones of the Glacier Creek prospect, and calculation of an initial mineral
resource estimate. The South Wall and RW Zones occupy the same
time-stratigraphic intervals on opposite limbs of a large-scale anticline, and
all zones intersected in drilling remain open to expansion laterally and to
depth.


Although this year's program is focused on expanding the South Wall and RW
zones, there are at least 25 separate base metal and/or barite occurrences and
prospects on the Palmer property along two mineralized trends over a combined
strike length of 15 kilometers. Many of these prospects have associated
significant precious metal values and most have not been drill tested. In
addition to the Glacier Creek prospect (South Wall and RW Zones) that is focus
of current exploration work, other notable prospect areas include MHC, Cap,
Nunatak, HG, Gullies, Boundary and Red Creek. Extensive pyrite-sericite schists
and siliceous rocks provide a common link to the showings suggesting the
presence of a very extensive mineralized system with potential for discovery of
multiple deposits. 


MHC Prospect 

At the MHC prospect, approximately 4 kilometers to the west of the South Wall
discovery, twenty-six massive barite-sulphide boulders sampled by the US Bureau
of Land Management, including some up to 2 meters in diameter, average 19.3%
zinc, 1% copper, 0.4% lead, 38.2 g/t silver, 0.22 g/t gold. An additional 4
boulder samples representing massive sulphide pyrite-chalcopyrite mineralization
averaged 1.0% zinc, 5.2% copper, 44.1 g/t silver and trace gold. The source of
the boulders is interpreted to lie under a small, relatively thin ice cap with
intense footwall alteration becoming exposed along its retreating edge. Some
historic drilling has been carried out in an attempt to locate the bedrock
source of the high grade boulders.


Cap Prospect 

Silver-and barite-rich stratiform mineralization at the Cap prospect has had
limited drilling that includes 134 g/t (3.9 oz/ton) silver over 23 meters and
remains open at depth and laterally. Zoning from barite rich sulphide
mineralization to copper rich massive sulphides on the South Wall and RW Zones
indicate that the Cap prospect may also zone from baritic mineralization to
massive copper and zinc rich sulphides on trend to the northwest towards MHC. A
similar zonation is also suggested in the assays of boulders at MHC.


Nunatak and HG prospects 

These two occurrences have yielded excellent precious-metal values with
associated base metals. At the Nunatak a bulk sample of baritic semi-massive
sulphide assayed 405 g/t (11.84 oz/ton) Ag and 3.15 g/t (0.092 oz/ton) gold. A
new surface discovery in 2007 located 450 metres on trend to the southwest of
the Nunatak contains mineralization that assayed 537 g/t (15.7 oz/ton) silver,
0.72 g/t gold, 0.2% copper, 10.4% lead and greater than 20% zinc. At the HG
surface grab samples assay up to 198.9 g/t (5.8 oz/ton) silver, 1.58 g/t (0.046
oz/ton) gold, 14.1% zinc, 2.3% lead, and 0.36% copper from a massive baritic
sulphide bed. Both the Nunatak and HG are interpreted to be linked by folding to
the Cap prospect and neither are drill tested.


Boundary Prospect 

The Boundary is an untested prospect linked to extensive development of altered
rhyolite, capped by black shales and mafic volcanics. High grade copper and zinc
rich float (e.g. 19.7% zinc, 2.3% copper and 49.7 g/t silver) has been found
downhill from the prospect that has very limited surface exposure. 


Gullies prospects 

These showings lie along a 4 km northwest trend from the Little Jarvis prospect
at the northwest end of the RW Zone and are represented by multiple occurrences
of mineralized float (e.g. 4.6% copper, 7.9% zinc and 0.94 g/t gold) linked to
zones of sericite-pyrite alteration. 


Red Creek 

Massive pyrite-barite mineralization is exposed in a small creek bed 3.4
kilometers east and on trend with the RW-South Wall mineralization. The
mineralization is associated with an altered rhyolite with distinctive RW
chemical signature.


About the Company 

Constantine is a gold and copper exploration company with multiple active
projects located in premier North American mining environments. In addition to
the flagship Palmer VMS Project, the Company's other major projects include; (1)
the 100% owned Timmins area Munro-Croesus Project a past-producing mine property
that yielded some of the highest grade gold ever mined in Ontario and includes
strategically located claims immediately along trend from the 2.1 million ounce
Fenn-Gib gold deposit; (2) the large Golden Mile property in the Timmins gold
camp that is optioned to Teck Resources Ltd. who can earn up to 66% by spending
$5M; (3) the 50/50 Joint Venture with Carlin Gold Corporation exploring an
approximately 800 sq. km land position in an emerging new Carlin-type gold
district in Yukon; and (4) the Trapper Gold Project in northern British Columbia
that is optioned to Ocean Park Ventures Ltd.. Please visit the Company's website
(www.constantinemetals.com) for more detailed company and project information.


On Behalf of Constantine Metal Resources Ltd.

Garfield MacVeigh, President

(i) NSR cut-off of US$50/t with assumed metal prices of US$700/oz for gold,
US$12/oz for silver, US$2.25/lb for copper, and US$0.85/lb for zinc, with
estimated metal recoveries of 55%, 55%, 90%, and 90% respectively.; see news
release dated January 20, 2010. 


Notes: 

Forward looking statements: This news release includes certain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively "forward looking
statements")." Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding the expected.
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. Forward-looking statements are based on a number of material
factors and assumptions. Important factors that could cause actual results to
differ materially from Company's expectations include actual exploration
results, changes in project parameters as plans continue to be refined, results
of future resource estimates, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business conditions,
uninsured risks, regulatory changes, defects in title, availability of
personnel, materials and equipment on a timely basis, accidents or equipment
breakdowns, delays in receiving government approvals, unanticipated
environmental impacts on operations and costs to remedy same, and other
exploration or other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ from those described in forward-looking statements, there
may be other factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Constantine Metal Resources Ltd.
Darwin Green
VP Exploration
604-629-2348


Constantine Metal Resources Ltd.
Koraleen Jarvis
Communications Coordinator
604-629-2348
info@constantinemetals.com
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