Constantine Signs Option & Joint Venture Agreement With Dowa Metals & Mining

Constantine Signs Option & Joint Venture Agreement With Dowa Metals & Mining 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/04/13 --
Constantine Metal Resources Ltd. (TSX VENTURE:CEM) ("Constantine" or
the "Company") is pleased to announce signing the Option and Joint
Venture Agreement (the "Agreement") with Dowa Metals & Mining Co.,
Ltd. of Japan ("Dowa") on the Palmer VMS project ("the Project"). The
Agreement has received approval by Dowa's and Constantine's boards of
directors, and formal signing of the Agreement was carried out on the
evening of February 1, 2013.  
Garfield MacVeigh, President and CEO of Constantine states: "Dowa is
an exceptional partner for the Palmer project and we are extremely
pleased for the opportunity to be working together. They bring
expertise with financial resources to join our team in the next steps
to realize the full potential of the Palmer project." 
Under the terms of the Agreement, Dowa has the option to earn a 49%
interest in the Project by making aggregate expenditures of
US$22,000,000 over a four year period. Expenditures for each year
shall not be less than US$3,000,000, with Dowa funding a minimum of
US$3,000,000 in year one as a firm commitment. Included in the
aggregate expenditure are cash payments to Constantine totalling
US$1,250,000 over four years, of which US$500,000 was received upon
signing of the Agreement. Following Dowa completing the required
earn-in expenditures and exercising their option, a 51:49 joint
venture between Constantine (51%) and Dowa (49%) for the Project will
be formed. The Agreement also includes terms that allow Dowa to
acquire certain zinc and copper off-take rights in stages, during and
upon completion of the earn-in option period.  
As Operator, Constantine has commenced planning for the 2013 work
program, with formal budget and work plan approvals expected within a
few months. 
About the Palmer VMS Project  
Palmer is a high-grade VMS project located in a very accessible part
of southeast Alaska, with road access to the edge of the property and
within 60 kilometres of the year-round deep sea port of Haines. The
project is host to a NI 43-101 compliant 4.75 million tonne inferred
resource grading 1.84% copper, 4.57% zinc, 0.28 g/t gold and 29 g/t
silver that is open to expa
nsion (using an NSR cut-off of US$50/t;
see news release dated January 20, 2010:
http://constantinemetals.com/news/index.php?&content_id=90).  
About the Company  
Constantine is a gold and copper exploration company with multiple
active projects located in premier North American mining
environments. In addition to the flagship Palmer VMS Project, the
Company's other major projects include; (1) the 100% owned Timmins
area Munro-Croesus Project a past-producing mine property that
yielded some of the highest grade gold ever mined in Ontario and
includes strategically located claims immediately along trend from
the 2.1 million ounce Fenn-Gib gold deposit; (2) the large Golden
Mile property in the Timmins gold camp that is optioned to Teck
Resources Ltd. who can earn up to 66% by spending $5M; (3) the 50/50
Joint Venture with Carlin Gold Corporation exploring an approximately
800 sq. km land position in an emerging new Carlin-type gold district
in Yukon; and (4) the Trapper Gold Project in northern British
Columbia that is optioned to Ocean Park Ventures Ltd. who carried out
an 8,500 meter drill program on the property in 2011. 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 
Forward-looking statements: This news release includes certain
"forward-looking information" within the meaning of Canadian
securities legislation and "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 (collectively "forward-looking statements")." Forward-looking
statements include predictions, projections and forecasts and are
often, but not always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", budget" and "intend"
and statements that an event or result "may", "will", "should",
"could" or "might" occur or be achieved and other similar expressions
and includes the negatives thereof. All statements other than
statements of historical fact included in this release, including,
without limitation, statements regarding the expected. There can be
no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are based
on a number of material factors and assumptions. Important factors
that could cause actual results to differ materially from Company's
expectations include actual exploration results, changes in project
parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials and equipment on a timely basis,
accidents or equipment breakdowns, delays in receiving government
approvals, unanticipated environmental impacts on operations and
costs to remedy same, and other exploration or other risks detailed
herein and from time to time in the filings made by the Company with
securities regulators. Although the Company has attempted to identify
important factors that could cause actual actions, events or results
to differ from those described in forward-looking statements, there
may be other factors that cause such actions, events or results to
differ materially from those anticipated. There can be no assurance
that forward-looking statements will prove to be accurate and
accordingly readers are cautioned not to place undue reliance on
forward-looking statements.  
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
Constantine Metal Resources Ltd.
Darwin Green
VP Exploration
604-629-2348 
Constantine Metal Resources Ltd.
Koraleen Jarvis
Communications Coordinator
604-629-2348
info@constantinemetals.com
www.constantinemetals.com
 
 
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