CONSTANTINE EXPANDS AREA OF MASSIVE SULPHIDE
AND REPORTS SIGNIFICANT OFF-HOLE GEOPHYSICAL CONDUCTORS
PALMER COPPER-ZINC VMS PROJECT, ALASKA

October 22, 2009

Vancouver, B.C. � Constantine Metal Resources Ltd. (the �Company�) (TSX.V: CEM) is pleased to announce final drill results and preliminary down-hole geophysical data for the 2009 exploration program at the Company�s Palmer copper-zinc-gold-silver rich volcanogenic massive sulphide (�VMS�) project. The 2009 program has successfully expanded the known area of South Wall and RW mineralized zones. This expansion when considered with the down-hole geophysical results has demonstrated the opportunity for continued growth in 2010. The Palmer project is located in a very accessible part of southeast Alaska, 60 kilometres by road from the year-round deep sea port of Haines.

The limited 2009 drill program (10 holes for a total of 4,643 meters) has expanded South Wall zone mineralization by 80 meters along strike, 90 meters vertically down dip, and 40 meters up dip, for a total horizontal strike length of 380 meters and a total vertical extent of 410 meters. The latest drill results include the deepest South Wall copper-rich intersection drilled to date in CMR09-28 that grades 3.55% copper, 4.79% zinc, 0.28 g/t gold and 80.1 g/t silver over 2.29 meters. Drill Hole CMR-09-30 tested the westernmost part of South Wall Zone 1 and remained in altered footwall rocks with stringer mineralization. A large off-hole geophysical anomaly in CMR09-30 is believed to represent a 100 meter extension of the thick Zone I mineralization and suggests that the zone remains open to the west.  

The Company has completed mineralogical studies with metallurgical bench marking that will be reported on shortly, and will assist in the calculation of the first NI43-101 compliant resource estimate for the project.

Latest Drill Results

Zone I
New Zone I South Wall intercepts include 5.24 meters of massive barite in hole CMR09-25 grading 0.31 g/t gold and 25.7 g/t silver that is within a wider 16.82 meter intersection of Zone I mineralization grading 0.12% copper, 1.43% zinc, 0.15 g/t gold and 12.5 g/t silver. This intersection is 70 meters down dip and 25 meters east of previously reported hole CMR09-24 (9.1 meters grading 1.89% copper, 5.16% zinc, 0.30 g/t gold and 27.4 g/t silver) and 70 meters west of CMR09-23 (21.3 meters grading 2.76% copper, 0.50% zinc, 0.10 g/t gold and 9.7 g/t silver). A complete tabulation of all South Wall zone results is listed in Table 1, attached to this release.

CMR09-30, a 100 meter step-out to the west of all previous Zone I holes did not cross the zone, but stayed in footwall rocks below the upper limb oxidized RW horizon (see below). Down-hole geophysics detected an off-hole conductor in CMR09-30 over a dip-length of 130 meters and suggests that Zone I is still present 100 meters to the west of all previous drilling. New 2009 Zone I intersections are plotted on an updated long section (posted on the Company�s website, www.constantinemetals.com) with the location of the CMR09-30 off-hole response that supports the interpreted continuity of the Zone I massive sulphides another 100 meters to the west.

Zone II & II
Drill hole CMR09-28 intersected South Wall Zone III massive sulphides grading 3.55% copper, 4.69% zinc, 0.28 g/t gold, and 80.1 g/t silver over 2.29 meters. This intercept represents the deepest intersection of copper-rich South Wall massive sulphides drilled to date, and extends South Wall mineralization 50 meters vertically below and 60 meters west of Zone II massive sulphides intersected in previously reported hole CMR09-26 (6.1 meters grading 1.52% copper, 9.17% zinc, 0.18 g/t gold and 18.0 g/t silver). CMR09-31 intersected a 3.4 meter zone of sphalerite- chalcopyrite-pyrrhotite assaying 0.2% copper and 2.0% zinc and is the deepest test of Zone II-III horizon to date, 50 meters down-dip of CMR09-28 and 25 meters east. Good off-hole geophysical responses in both CMR09-28 and CMR09-31 indicate extensions of Zone II-III sulphide mineralization away from these holes.

Drill hole CMR09-27 and CMR09-32 tested Zones II and III, 50 and 130 meters east of CMR09-26 respectively (refer to website long section). CMR09-27 encountered very strong pyritic alteration on the ZoneII-III horizons that contained low base metal values, but displayed a good off-hole geophysical anomaly. CMR09-32 encountered 1.31 meters of 3.13% zinc and 0.06% copper in Zone III, but was abandoned before the Zone II target depth and was not surveyed with down-hole geophysics.

RW Zone
As part of South Wall drilling, some drill holes penetrated oxidized mineralization in the upper gentle dipping limb of the anticline. This mineralization correlates with the RW Zone that includes the 2007 intersection in CMR07-07 (14.0 meters grading 4.09% copper, 7.35% zinc, 0.40 g/t gold, and 50.9 g/t silver) that has not yet been followed up. These intercepts have expanded the area of known RW Zone mineralization and present excellent targets for defining high-grade massive sulphide mineralization down-dip, beyond the limits of near surface oxidation and leaching.

Strongly oxidized and base-metal leached RW zone mineralization grading 0.13% copper, 0.52% zinc, 0.94% lead, 0.39 g/t gold and 74.5 g/t silver over 12.5 meters was intersected in the upper portion of hole CMR09-30. Included is a 2.44 meter sub-interval of higher grade precious metal mineralization grading 0.35% copper, 0.64% zinc, 2.45% lead, 1.03 g/t gold and 178.1 g/t silver. The intersection in CMR09-30 is 90 meters west of similar oxidized and leached RW zone mineralization intersected in previously reported hole CMR09-24 (0.23% copper, 2.83% zinc, 0.57 g/t gold, and 52.5 g/t silver over 9.14 meters).

TDEM (Down-hole) Geophysical Survey

Down-hole 3D Time Domain Electromagnetic (TDEM) surveys were completed on eight of ten holes drilled during the 2009 program. Preliminary field data indicates the survey to be very effective at identifying South Wall zone massive sulphide mineralization. TDEM conductors were observed in every hole surveyed, including several conductors that represent potential new target areas for massive sulphides. One of the most significant anomalies is an off-hole conductor measured in CMR09-30 for a length of more than 130 meters. CMR09-30, the westernmost hole drilled during the 2009 program, appears to have drilled sub-parallel to the South Wall Zone I horizon possibly due to a cross-cutting fault. The large TDEM conductor suggests massive sulphide mineralization is present off-hole. CMR09-30 was drilled 100 meters west of CMR09-24 (9.1 meters grading 1.89% copper, 5.16% zinc, 0.30 g/t gold and 27.4 g/t silver), the westernmost intersection of South Wall Zone I massive sulphide.

A final report following 3D modelling of the data to better determine distance, direction, and size of the conductive bodies is pending. This data will be utilized in designing future phases of drilling at Palmer.

To read the complete news release, please see our web site at http://www.constantinemetals.com/_resources/nr/NR-46-2009-CEM.pdf