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Constitution Mining Contracts Mining Services Company in Peru
Buenos Aires, Argentina � November 17, 2008 - Constitution Mining Corp. (CMIN.OB) announces the execution of a services contract with Logistica y Servicios Aluviales San Lorenzo SAC (�San Lorenzo�) to develop the company�s 382 km2 of mining properties in the Gold Sands district of northeastern Peru. The company has to date exercised 25% of its option to acquire 100% of the mineral rights on terms previously disclosed.
Constitution has contracted San Lorenzo, a Peruvian Service company, and paid them an advance of US$ 250,000 to supply contract services with respect to Constitution�s Gold Sands project in northeastern Peru. San Lorenzo is to provide complete mining services which include logistics and infrastructure in the project area including sourcing and supplying personnel, drilling equipment, dredges, mining equipment, logistics, exploration management, property camp, development office, administration support, exploration planning, program management, mapping, logging, drilling, a field laboratory, data compilation, data processing, interpretation of data, preparation of reports, assessment of exploration techniques, evaluation of programs, training of staff and coordination of field trips.
Constitution Mining CEO, Dr. Willem Fuchter commented, �We are moving quite rapidly to secure a strong leadership position within the Gold Sands district. We recently announced the optioning of the largest land position in the district and now, with the experienced assistance of San Lorenzo, we intend to immediately initiate a regional exploration program. The program is expected to include extensive drilling of the proof-of-concept-zone, a section of our 382 km2 Gold Sands property holdings, that has already had 500 holes drilled on it.�
Dr. Fuchter continued, �All of the 500 holes, drilled on a 100 meter x 100 meter grid, reported high levels of gold mineralization as compared to other gold sands style deposits in production today. All holes contained gold mineralization from surface to depths of 32 meters with gold grades increasing the deeper the drills went. Additionally, all holes were open at depth, none of the holes hit bedrock, and the area drilled had no defining advantages or characteristics that differ from the rest of the Gold Sands district.�
�In addition to confirming the results reported from within the proof of concept zone, a scout drilling program to be undertaken throughout the Gold Sands district should enable us to confirm whether the gold mineralization exists beyond the boundaries of the proof of concept area,� added Dr. Fuchter.
San Lorenzo has begun consulting with the people and communities in the area of Peru that may be affected by Constitution�s proposed mining activities to help to identify ways to minimize the impact on the environment. San Lorenzo has engaged The Stocker Group, an international consulting firm with offices in Chile, Brazil, Colombia, Panama and Switzerland to anticipate potential issues before they arise and to work together with the local and federal communities to manage the environmental, political and social risks associated with developing the Gold Sands project. The Stocker Group is managed by Constitution�s Chairman, Dr. Michael Stocker.
The Stocker Group�s risk management services are sought by many leading companies, organizations and governments working throughout Latin America, Europe and the USA. They have experience in the start-up and ongoing management of large-scale and complex projects currently underway in 12 countries. In addition to completing an Environmental Impact Assessment, the Stocker Group has begun to carry out a Social Impact Assessment. This will acknowledge the interests of all stakeholders including the inhabitants who live in the district. It will determine relationships with the biophysical environment, historical background, population, political and social resources including the distribution of power and authority, local culture and attitudes toward the proposed project and any needs they may have including programs, reforestation, agricultural projects, job creation, school-building /education, public infrastructure and medical care.
About Constitution Mining Corp.
Our Mission is to consistently increase the amount of honest money - gold and silver - underlying the number of shares we have outstanding. We intend to acquire, explore for, and hold onto deposits of gold and silver. Additional information about Constitution Mining Corporation may be obtained at www.ConstitutionMining.com.
For more information contact Investor Relations at (480) 237-9985.
On behalf of the Board:
Dr. Willem Fuchter, CEO
Constitution Mining Corp. (CMIN.OB)
Disclaimer: This release contains forward-looking statements that are based on the beliefs of Constitution Mining Corp. management and reflect Constitution Mining Corp. current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate, "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Constitution Mining Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. |