Constantine Metal Resources Ltd.

Published : February 28th, 2011

Carlin JV Acquires Strategic Claim Block In Yukon’s New Carlin-Type Gold District

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CONSTANTINE-CARLIN JV ACQUIRES STRATEGIC CLAIM BLOCK
IN YUKON�S NEW CARLIN-TYPE GOLD DISTRICT

Constantine Metal Resources Ltd. (�Constantine�) (TSX Venture - CEM) and Carlin Gold Corporation (�Carlin�) (TSX Venture - CGD) jointly (the "Companies") are pleased to announce the staking of additional claims in the Mayo Mining District, east central Yukon, Canada. The 152 claim HG block (7600 acres, 31 square kilometers) borders ATAC Resources Ltd.�s Rau Property, where Carlin-type gold mineralization has recently been discovered. The HG claims are located adjacent to a known cinnabar and native mercury occurrence, and cover drainages that contain gold and share similar tenor pathfinder element anomalies to those at the Rau Property Osiris discovery � including samples exceeding the 95th percentile for arsenic and mercury*.

The Constantine-Carlin 50/50 Joint Venture (the �Joint Venture�) was formed in the early fall of 2010 specifically to target and explore for Carlin-type gold deposits in the Yukon. The Joint Venture moved quickly to establish a large land position in this emerging gold frontier, acquiring areas with permissive geology and drainages with strong geochemical anomalies. The Joint Venture now controls a total of 2,453 claims and approximately 500 square kilometers (195 square miles) which represents one of the largest property positions in this new district located within the Selwyn Basin, east central Yukon.

Highlights of the HG Block

  • The claim block is adjacent to a known cinnabar and native mercury occurrence; this is believed to be the only known mercury occurrence in the district. Mercury is commonly associated with Carlin-type gold deposits and there is a known spatial relationship between cinnabar (HgS) and some large Carlin-type gold deposits in Nevada.
     
  • The claims are located approximately mid-distance between the Osiris discovery and a realgar-orpiment occurrence that was recently announced by Strategic Metals on its Crag property (Figure 1).
     
  • The claims cover drainages that contain elevated gold and are highly anomalous in the pathfinder elements arsenic and mercury.
     
  • Carbonate-bearing units, the most favorable hosts for Carlin-type gold deposits, are present on the claims.
     
  • The claims cover zones of clay and iron oxide alteration as identified from satellite imagery analysis conducted by the Joint Venture.
     
  • There is no record of prior exploration on the claims, however exploration immediately to the north has identified several base metal occurrences and lead-zinc-silver soil anomalies as well as northeast trending fault structures that project onto the HG block

The Joint Venture is making plans for aggressive exploration of its large Yukon land package in Q2 2011. Despite highly anomalous geochemistry and favourable geology, most of the region has received virtually no modern methodical exploration for gold. The opportunity is highlighted by several large gold discoveries made recently in the Yukon, where raw stream sediment and soil anomaly stage prospects advanced rapidly into major drill hole discoveries. Additional figures and information on the Joint Venture�s large Yukon land package can be found at www.constantinemetals.com or www.carlingold.com.

About Constantine

Constantine is a gold and copper exploration company with multiple active projects located in premier North American exploration environments. These are highlighted by the 100% owned Palmer Project, where Constantine has discovered a new copper-zinc-silver-gold deposit in a very accessible part of southeast Alaska, and the Munro-Croesus Project, that includes a past-producing mine property that yielded some of the highest grade gold ever mined in Ontario. The Palmer Project contains a National Instrument 43-101 compliant 4.12 million tonne inferred resource grading 2.01% copper, 4.79% zinc, 0.30 g/t gold and 31 g/t silver (using an NSR cut-off of US$75/t; see news release dated January 20, 2010) that is open to expansion.

Constantine controls a major land position in an emerging new Carlin-type gold district in Yukon that is part of a 50/50 joint venture with Carlin Gold Corporation, and recently optioned its Trapper Gold Project in northern British Columbia to Ocean Park Ventures Ltd. which is committed to spend a minimum $750,000 this year as part of its $4.75 million 50% earn-in. The drill ready Trapper Gold Project hosts a +2000 meter long by 200 meter wide gold-arsenic soil anomaly with values up to 8.6 g/t gold. In addition, Constantine has a 100% interest in the 8300 hectare Phoenix Gold project in the active Shining Tree gold area, Ontario and a 100% interest in the newly acquired Hornet Creek gold-copper-barite prospect in west-central Idaho.

About Carlin

Carlin is a gold exploration company focused in Nevada and Yukon Territory. Carlin owns 100% of three properties in Nevada, all of which represent Carlin-type gold targets. Two of Carlin�s properties are located in the Cortez gold trend. Carlin�s Cortez Summit property is located four miles east of Barrick�s new Cortez Hills gold mine, in a similar geologic environment. The Willow Creek property is located in an emerging new gold belt in northeastern Nevada. Willow Creek occurs northwest of the new Long Canyon gold discovery, which is part of the recently announced Newmont acquisition of Fronteer Gold, a proposed $2.3 billion transaction.


Figure 1. Property location map.

http://constantinemetals.com/_resources/nr/NR-71-11-Figure-1-Property-location-map_tn.jpg

On Behalf of Constantine Metal Resources Ltd.

On Behalf of Carlin Gold Corporation

 

 

�Garfield MacVeigh

�K. Wayne Livingstone�

 

 

President

President


Investor relations enquiries, please contact:

R.E. (Bob) Jeffery
Phone: 250-335-2011
Email:
bob@constantinemetals.com or Email: info@constantinemetals.com
www.constantinemetals.com

*Percentiles are determined based on analysis of a Yukon government geochemical database containing over 30,000 regional silt samples collected from across the Territory.

Darwin Green P.Geo, Vice President 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. Robert Thomas, Vice President for Carlin Gold Corporation and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release on behalf of Carlin Gold Corporation.

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")� concerning the Companies� plans for their properties, operations and other matters. 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, including, without limitation, statements regarding potential mineralization, the estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital to the Companies and their joint venture partners, government regulation of exploration operations, environmental risks, reclamation, title, statements with respect to the future price of gold and other metals, and future plans and objectives of the Companies 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.  Forward-looking statements are based on a number of material factors and assumptions.  Important factors that could cause actual results to differ materially from Companies� 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 to the Companies and their joint venture partners, 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 Companies with securities regulators.  Although the Companies have 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Constantine Metal Resources Ltd.

EXPLORATION STAGE
CODE : CEM.V
ISIN : CA2103171039
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Constantine Metal is a gold and copper exploration company based in Canada.

Constantine Metal holds various exploration projects in Canada.

Its main exploration properties are CROESUS, PALMER, CONSTANTINE CARLIN MAYO CLAIMS and AZTEC PROPERTY in Canada.

Constantine Metal is listed in Canada. Its market capitalisation is CA$ 40.5 millions as of today (US$ 32.4 millions, € 28.4 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.91, and its lowest recent point on August 30, 2013 at CA$ 0.04.

Constantine Metal has 117 340 000 shares outstanding.

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Annual reports of Constantine Metal Resources Ltd.
2007 Annual report
2006 Annual report
Financings of Constantine Metal Resources Ltd.
3/20/2011Closes $2.25 Million Flow-Through Share Financing
3/13/2011Announces $2.25 Million Guaranteed Agency Financing
1/14/2010Exercised Warrants Raise $2.4 Million Cash For Constantine
6/17/2009$3,000,000 Non-Brokered Financing Announced
Project news of Constantine Metal Resources Ltd.
7/27/2017(Palmer)Reports New Silver-Gold Discovery at Nunatak and High-Grade ...
7/6/2016(Palmer)Commences Drill Program at Palmer Copper-Zinc-Silver-Gold Pr...
5/9/2016(Palmer)Announces Plans and Budget for 2016 Palmer Copper-Zinc-Silve...
5/4/2016Critics question mine exploration near Alaska eagle preserve
2/19/2014Announces Winter Drill Program Underway at Golden Mile Prope...
1/28/2014(Palmer)Announces US$6.2 Million Budget for 2014 Palmer Copper-Zinc-...
11/4/2013(Palmer)Reports Positive Metallurgical Results for the Palmer Projec...
6/12/2013(Palmer)Commences Drilling on the Palmer VMS Project, Alaska $3.0 Mi...
2/4/2013Signs Option & Joint Venture Agreement with Dowa Metals & Mi...
1/17/2013(Palmer)Announces Signing Date for Option and Joint Venture Agreemen...
11/5/2012(Palmer)Signs Letter Agreement with Dowa Metals and Mining on the Pa...
8/8/2012Finds Horseshoe Zone on Trend with Lake Shore’s Fenn-Gib Dep...
8/7/2012Announces Election by Major to Proceed with Golden Mile Prop...
3/5/2012Acquires Golden Mile Property
12/28/2011VP of Exploration Darwin Green to appear on the Next Biggest...
11/30/2011Reports Drill Assays for Trapper Gold Project, British Colum...
8/23/2011’s Partner Reports Update On 25 Hole Drill Program At Trappe...
6/23/2011Carlin JV Commences Work Program On Sixteen Yukon Gold Prope...
6/16/2011Reports Commencement Of $4.0 Million Exploration Program At ...
4/14/2011Carlin JV Expands Property Position In Yukon’s New Carlin-Ty...
3/31/2011(Croesus)Adds Second Drill At Munro-Croesus Gold Project, Ontario
3/13/2011(Croesus)Commences Drill Program At Munro-Croesus Bonanza Grade Gold ...
2/28/2011(Constantine Carlin Mayo Claims)Carlin JV Acquires Strategic Claim Block In Yukon’s New Carl...
2/17/2011(Aztec Property)Carlin JV Expands Yukon Gold Portfolio Aztec Property Acquis...
2/9/2011Acquires Hornet Creek Gold-Copper Property In Idaho, USA
8/4/2010(Palmer)Intersects 3.1% Copper Over 4.2 Meters within 7.1 Meters of ...
11/19/2009(Palmer)Positive Mineralogy And Metallurgical Projections For Palmer...
10/22/2009(Palmer)Expands Area Of Massive Sulphide And Reports Significant Off...
9/10/2009(Palmer)Intersects 6.1 Meters Of 1.5% Copper And 9.2% Zinc In Deepes...
7/28/2009(Palmer)Completes Financing And Commences Drilling At Palmer VMS Pro...
2/10/2009(Croesus)Commences Drill Program at Munro-Croesus Gold Project
2/9/2009(Croesus)and Wahgoshig First Nation Enter into Exploration Agreement
12/2/2008(Palmer)Reports More Wide Intersections At The South Wall Zone
Corporate news of Constantine Metal Resources Ltd.
7/6/2016Constantine Commences Drill Program at Palmer Copper-Zinc-Si...
6/30/2016Constantine Issues Stock Options
11/24/2015Constantine Reports 2015 Exploration Program Results from Pa...
7/28/2015Constantine Signs Selection Agreement with Dowa on Land Trus...
6/26/2015Constantine Files NI-43-101 Report for Updated Inferred Mine...
6/25/2015Constantine Files NI-43-101 Report for Updated Inferred Mine...
3/9/2015Constantine Issues Finder’s Fee Shares and Stock Options
3/9/2015Issues Finder's Fee Shares and Stock Options
3/9/2015Constantine Issues Finder's Fee Shares and Stock Options
3/3/2015Constantine Announces US$5.0 Million Budget for 2015 Palmer ...
2/23/2015Constantine 2014 Year-end Financial Information Released
2/5/2015Constantine Receives US $250,000 Option Payment from Dowa
1/26/2015Constantine Reports Final Drill Results and Provides 2014 Ex...
9/29/2014Constantine Intersects 89 Meters of 5.0% Zinc, 0.8% Copper, ...
9/9/2014Constantine Signs Mining Lease on Land Package Surrounding t...
8/19/2014Constantine Reports Japan Oil, Gas and Metals National Corpo...
7/22/2014Constantine Reports Significant 150 meter Step-Out Drill Int...
5/29/2014Constantine Crews Mobilize for US$6.2 Million +10,000 Meter ...
5/9/2014Constantine Completes Drill Program at Golden Mile Property ...
4/16/2014Constantine to Acquire Major Land Package Surrounding the Pa...
10/8/2013(Palmer)Intersects 24.7 Meters of 2.0% Copper and 8.5% Zinc in Addit...
8/12/2013(Palmer)Intersects 21.7 Meters of 2.4% Copper and 9.1% Zinc in Step-...
8/8/2013Acquires Insider Share Position in Dunnedin Ventures Inc.
7/9/2013to Sell Interest in Trapper Gold Property to Ocean Park Vent...
5/3/2013The Company Announces Adoption of Advance Notice Policy for ...
3/19/2013Notice of TSX Acceptance of Option & Joint Venture Agreement...
5/9/2012Announces Strategic Financing and Property Rights Agreements...
2/27/2012to Spin-Out Yukon Gold Assets into New Company
1/17/2012Reports Final Drill Results for Trapper Gold Project, Britis...
1/9/2012Upcoming Events
9/20/2011(Croesus)Reports Final Drill Results at Munro-Croesus Gold Project, O...
9/6/2011Carlin Yukon JV Defines 6.5 Km Long Gold And Arsenic Soil An...
8/9/2011Carlin JV Defines Multiple Soil/Silt Anomalies On Yukon Gold...
6/8/2011(Croesus)Reports Drill Results And New Developments At The Munro-Croe...
2/22/2011Signs New Investor Relations Agreement
6/22/2010Acquires Phoenix Lake Gold Property In South Timmins Area, O...
5/19/2010Acquires Trapper Lake Gold Property In Northern British Colu...
7/23/2009$3 Million Unit Financing Closed
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