Constellation Copper Corporation Provides Default Status Report

Denver, Colorado - December 21, 2007 - Constellation Copper Corporation (the "Company") (CCU :TSX) announced on November 9, 2007 and for the reasons set forth in that announcement, that it would not be filing its third quarter unaudited financial statements by the required filing date under applicable Canadian securities laws.  The Company is providing an update in accordance with CSA Staff Notice 57-301 Failing to File Financial Statements on Time - Management Cease Trade Orders. In accordance with Appendix B of CSA Policy 57-301:

1. The Company advises that, other than as disclosed in the press release dated December 19, 2007, there is no material change in the information contained in the Notice of Default dated November 9, 2007 and the Default Status Reports dated November 23, 2007 and December 7, 2007.
2. The Company expects to file its interim financial statements for its third quarter ended September 30, 2007 and Management Discussion & Analysis related thereto on or before January 14, 2008 as originally contemplated.
3. The Company advises that there are no other financial statements that are not expected to be filed within the time period set out by the security regulatory authorities.
4. The Company advises that there is no other material information concerning the affairs of the Company that has not been generally disclosed.
5. The Company intends to satisfy the provisions of CSA 57-301 Appendix B Default Status Reports on a bi-weekly basis as long as it remains in default of the financial statement filing requirement.

For further information please contact:

Constellation Copper Corporation
Patrick M. James, Chairman & CEO
Michelle Hebert, Manager-Corporate Affairs
Tel: (720) 228-0055
Toll Free: 1-877-370-5400
Fax: (303) 863-1736
info@constellationcopper.com
www.constellationcopper.com

Renmark Financial Communications Inc.
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Media - Vanessa Napoli : vnapoli@renmarkfinancial.com
Tel.: (514) 939-3989 
Fax : (514) 939-3717
www.renmarkfinancial.com

This press release contains certain forwar d-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".   Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Such factors include, among others, risks related to changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational d ifficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials and equipment, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets.  Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.  There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, read ERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.