Constantine Signs Option to Acquire 100% of Golden Perimeter Property, near Timmins, Ontario

Press Release

Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) (“Constantine” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Agreement”) to acquire a 100% interest in 546 single cell mining claims and 27 boundary cell mining claims in two blocks (12,280 hectares) comprising the Golden Perimeter Property (the “Property”) located 13 and 26 kilometers south of Timmins, Ontario.

The main mining cell block covers an elliptical shaped monzonite body that is intrusive into lower Tisdale komatiites and mafic volcanic rocks on the south edge of the Shaw dome.

Under the terms of the Agreement, to maintain the option and to acquire 100% interest in the Property, the Company must make cash payments totaling $75,000 and issue 100,000 of the Company’s shares over a four-year period. The Company has completed the first cash payment of $10,000.  The first share issuance is payable on December 15, 2019, in the amount of 15,000 shares of the Company. All share issuance are subject to the approval of regulatory authorities.

Upon completion of payment of the full purchase price of cash and shares, the Company will make annual advance royalty payments of $10,000, commencing on December 15, 2024 and each year thereafter until commercial production commences. The terms of the Agreement also grant to the Owner a 2.5% NSR, of which a 1.0% NSR, at the Company’s election, can be purchased on a pro-rata basis at any time after earn-in for $750,000. The Company retains the right of first refusal on the remaining 1.5% NSR.

About the Company

Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on premier North American mining environments. In addition to the Company’s flagship copper-zinc-lead-silver-gold (barite) Palmer Joint Venture Project, Constantine also controls a portfolio of high-quality, 100% owned, gold projects that the Company intends to spin out into a separate entity. These include the very high-grade Johnson Tract Au-Ag-Zn-Cu-Pb deposit, located in coastal south-central, Alaska and projects in the Timmins, Ontario gold camp that include the large, well-located Golden Mile property and the Munro Croesus Gold property, which is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.

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

For further information please contact:
Garfield MacVeigh, President or Naomi Nemeth, VP Investor Relations
Phone: 604-629-2348. Email: info@constantinemetals.com

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