Mr. Garfield MacVeigh reports

CONSTANTINE TO ACQUIRE MAJOR LAND PACKAGE SURROUNDING THE PALMER COPPER-ZINC-SILVER-GOLD PROJECT, SOUTHEAST ALASKA

Constantine Metal Resources Ltd. has been awarded the right to lease a 99,257-acre package of land (the Haines block) for mineral exploration and development. The Haines block is contiguous with and surrounds the federal and state mining claims that make up the approximately 16,000-acre Palmer property.

Garfield MacVeigh, president and chief executive officer, stated: "We are very pleased with the opportunity to secure this large, prospective and strategic land package. The Haines block further consolidates Constantine's district-scale property position and provides control of the entire tract of available land in the region with known volcanogenic massive sulphide potential."

About the Haines block and lease

Constantine was the successful applicant in a competitive lease process offered by the Alaska Mental Health Trust Authority, a state corporation within Alaska. The trust owns the subsurface mineral estate of the Haines block, and for a small subset of the block, located adjacent to the Palmer property, land is held fee simple for which the trust owns both the surface and subsurface estate. Constantine and the trust aim to finalize terms and conclude signing of the lease in advance of the summer field season. General lease terms are expected to include annual rental of $25,000 (U.S.) for the initial three-year lease term, with work commitments of $75,000 (U.S.) per year, escalating $50,000 (U.S.) annually. The lease is also expected to include certain production royalties.

The Haines block shares similar geology to the Palmer property and is considered prospective for hosting high-grade massive sulphide mineralization. The property also covers areas upland of the active Porcupine placer gold district that has estimated past production of 82,489 ounces of gold. This represents the first time the Haines block has been offered to the public for competitive lease, with very limited exploration work having taken place in recent decades.

About the Trust Land Office and the Mental Health Trust Authority

The Trust Land Office operates within the State of Alaska Department of Natural Resources to manage nearly one million acres of land for the Alaska Mental Health Trust Authority. Trust lands are managed solely in the best interest of the trust and its beneficiaries with a legislated requirement to maximize long-term revenue. The income generated from trust lands is used to improve the lives and circumstance of trust beneficiaries. The trust has a well-established history in Alaska exploration and mining, with leases in place at Kinross Gold Corp.'s Fort Knox gold mine and International Tower Hill's Livengood gold project.

About the Palmer project

Palmer is a high-grade volcanogenic massive sulphide (VMS) deposit located in a very accessible part of coastal southeast Alaska, with road access to the edge of the property and within 60 kilometres of the year-round deep-sea port of Haines. A $6.2-million (U.S.) exploration budget is in place for the 2014 season financed by Dowa Metals & Mining Co. Ltd., which has the option to earn a 49-per-cent interest in the project. The 2014 program will be drill intensive and focused on expanding the inferred mineral resource (4.75 million tonnes grading 1.84 per cent copper, 4.57 per cent zinc, 0.28 gram per tonne gold and 29 g/t silver (i)) as well as testing for satellite deposits. The project is located within the same belt of rocks that is host to the Greens Creek and Windy Craggy VMS deposits -- both widely recognized as tier 1 deposits.

(i) See the company's technical report entitled, "Palmer VMS Project, Southeast Alaska, Mineral Resource Estimation and Exploration Update," dated March 4, 2010, and available on SEDAR. The resource estimate utilizes an NSR (net smelter royalty) cut-off of $50 (U.S.) per tonne with assumed metal prices of $700 (U.S.) per ounce for gold, $12 (U.S.) per ounce for silver, $2.25 (U.S.) per pound for copper and 85 U.S. cents per pound for zinc, with estimated metal recoveries of 55 per cent, 55 per cent, 90 per cent and 90 per cent, respectively. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling, and reasonably assumed but not verified geological and grade continuity. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure.

We seek Safe Harbor.