November 24, 2015 NR 125-15

NEWS RELEASE

Constantine Reports 2015 Exploration Program Results from

Palmer Copper Zinc Silver Gold Project, Southeast Alaska - 2km Trend of Mineralization Delineated at New Prospect -

Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) ("Constantine" or

the "Company") is pleased to report results for the recently completed exploration program at the

Palmer copper-zinc-silver-gold Project (“Palmer” or “Project”) in Southeast Alaska. The work

is part of a US$5 million budget for 2015. Planning is currently underway with partner Dowa

Metals & Mining Co., Ltd. (“Dowa”) on work plans and budgets for 2016. Expenditures to date

on the project by Dowa total in excess of US$15 million.

Key Highlights:

Massive sulphide discovered on newly acquired Haines Block lands

Step-out drilling intersects Palmer deposit extensions

Engineering and permitting depth added to project team

Garfield MacVeigh, President and CEO states, “We are pleased with the many advancements

made with the project this year. The comprehensive work program included exploration and

geotechnical drilling, regional prospecting and targeting, surface and borehole geophysical

surveys, geotechnical and environmental programs, engineering, and permitting work.”

Regional Exploration

New VMS-style massive sulphide mineralization was discovered during our regional exploration

work on a portion of the 100% Constantine-controlled Haines Block lands that surround the core

of the Palmer Property (Figure 1). Significant results include:

Delineation of a 2 km trend of massive sulphide boulders associated with altered and

mineralized volcanics at the Tsirku prospect, located 9 km south of the Palmer deposit

area. Highlight assays of 4.99% copper, 6.32% zinc, 68 g/t silver, 1.97 g/t gold have

been received for chip and grab samples of boulders that range from 0.2 to 1.5 m in size

(see Table 1 for full assay details). Mineralization style at this new prospect resembles

that of the Palmer deposit, and supports management’s strong belief in the potential to

discover other VMS deposits on the Property.

Grab samples grading 8.12% copper and 15.4% zinc have been obtained from outcrop at

the Waterfall prospect, located 3 km southwest of the Palmer deposit area. The Waterfall

prospect occurs adjacent to the silver-rich Cap (e.g. 23.2 m grading 134 g/t silver in

historic drill hole), HG and Nunatak prospects.

These prospects collectively define a highly prospective and under explored environment

close to the current mineral resource and infrastructure.

Exploration Drilling

A total of 7,736 meters of core drilling was completed, consisting of 8 wide spaced exploration

drill holes, 1 geotechnical drill hole, and the extension of a 2014 drill hole. The scope of this

year’s drilling was focused on exploring for extensions of the deposit within a localized target

area. Drill holes primarily tested areas around the South Wall EM Zone, including the fault

displaced offset of the zone referred to as the Lower Offset target. EM Zone mineralization was

intersected in three holes, extending the known extent of the mineralized system approximately

100 meters east (holes CMR15-72 and 73) and 65 meters up dip (hole CMR15-75).

Mineralization in these holes is chert-barite dominant with base metal bearing footwall pyrite-

pyrrhotite stringer zones. Significant intersections include:

4.2 meters grading 0.5% copper, 3.98% zinc, 60.4 g/t silver, 0.65 g/t gold in CMR15-75

3.0 meters grading 2.32% copper and 14.9 g/t silver in hole CMR15-75

8.0 meters grading 1.33% zinc and 21.6 g/t silver in hole CMR15-73

10.5 meters grading 1.56% zinc in hole CMR15-72

Four drill holes targeted the Lower Offset target below the Kudo fault, a structure that displaces

the down-dip projection of the EM Zone. One of the four holes, CMR15-69, successfully

intersected EM Zone equivalent massive pyrrhotite mineralization and intense hydrothermal

alteration approximately 160 meters below the fault, including 7.2 meters grading 0.43% copper

and 0.46% zinc. The other three drill holes to test the Lower Offset target area did not intersect

EM Zone correlative stratigraphy. This includes CMR14-56 that was re-entered and abandoned

after advancing 22 meters due to adverse drilling conditions, and holes CMR15-71 and 77 that

were completed to significant depths prior to being abandoned. For a complete list of significant

drill intersections see Table 2.

A large portion of the deposit remains open to expansion in the immediate South Wall and RW

resource areas. Work is ongoing into understanding and interpreting the geological,

geochemical, and geophysical data gained from new drill holes, with the objective of updating

the exploration model for future drill planning.

Geophysics

Borehole and surface electromagnetic (EM) geophysical surveys identified several zones of high

conductivity. Conductive plate modeling of the borehole data has generated targets of potential

mineralization adjacent to the existing mineral resource and at depth below the current extent of

surface drilling. Modeling of surface EM data has generated conductive plate models targets in

areas along trend of the RW and South Wall resource areas. The new geophysical data will be

incorporated into planning and drill hole targeting for 2016.

Advanced Project Team and Work Programs

Constantine continues to build its advanced project team. Key personnel include Ian

Cunningham-Dunlop, Senior Advisor Advanced Projects and Engineering; Henry Bogert, Senior

Mining Engineer; and Rick Richins, Senior Advisor Permitting. All bring a wealth of experience

in their respective fields. The company also signed a memorandum of understanding with Alaska

Large Mine Permitting Team to gain early input into baseline program design and ensure long

lead time data is collected in a manner consistent with the needs of State regulators.

Advanced project work has increased since reporting a near doubling of the size of the mineral

resource earlier this year (see news release dated May 11, 2015*). A variety of geotechnical,

engineering, and environmental baseline studies were completed during the summer exploration

season. These studies focus on evaluation of the new resource, data to inform future plans and

engineering design, and data to support the various permits that may be required as the project

advances. The work includes geotechnical studies, rock geochemistry, flora and fauna surveys,

fish surveys, surface and groundwater hydrology, water quality, and meteorology surveys.

About the Palmer Project

Palmer is a resource expansion stage, high-grade volcanogenic massive sulphide (VMS) project,

with an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32

g/t gold and 31.7 g/t silver*. The Project is being advanced in partnership with Dowa Metals &

Mining Co., Ltd. who can earn 49% in the project by making aggregate expenditures of US$22

million over four years. The project is located in a very accessible part of coastal Southeast

Alaska, with road access to the edge of the property and within 60 kilometers of the year-round

deep sea port of Haines. Mineralization at Palmer occurs within the same belt of rocks that is

host to the Greens Creek mine, one of the world’s richest VMS deposits. There are at least 25

separate base metal and/or barite occurrences and prospects on the Palmer property, indicating

the potential for discovery of multiple deposits.

About the Company

Constantine is a mineral exploration company led by a proven technical team with a focus on

premier North American mining environments. The company’s principal asset is the Palmer

copper-zinc-silver-gold Project located in Southeast Alaska that is being advanced in partnership

with Dowa Metals & Mining Co., Ltd. Constantine also controls a pipeline of quality gold

projects in the Timmins camp Ontario and Yukon. Management is committed to responsible

mineral exploration and to working with local communities. 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 and CEO

For further information please contact:

Garfield MacVeigh, President or Drew Martell, Manager Corporate Development

Phone: 604-629-2348. Email: info@constantinemetals.com

13.5 mile access road

2015 Inferred Resource*:8.1 MT @ 1.41% Cu, 5.25% Zn,0.32 g/t Au, 31.7 g/t Ag

RW ZONE

NUNATAK

BOUNDARY

WATERFALL

TSIRKU

grab and float samples to 8.1% Cu, 15.4% Zn

CAPHG

GULLIES

RED CREEK+80,000 oz placer

2km massive sulphide boulder trend

MOUNT HENRYCLAY

SOUTH WALL

200 lb bulk sampleaveraging 11.84 opt Ag

23.2 m @ 134 g/t (3.9 opt) Ag

Intrusive

Volcanic

Sedimentary

and Sedimentary

LEGENDProspects

Showing

Regional showing

Mineralized Trend

Drilled Prospect

ClaimsCEM - Dowa Joint Venture Claims

Haines Block - CEM 100%

* See the Company’s technical report entitled, “NI 43-101 Technical Report and Updated Resource Estimate for the Palmer Exploration Project, Porcupine Mining District, Southeast Alaska, USA” dated June 24, 2015

1 mile

1 km

Haines Highway

mWhitehorse, YT200 miles

m

Haines, AK(sea port)26 miles

grab and float samples to 4.9% Cu, 6.3% Zn

grab and float samples to 6.6% Cu, 19.7% Zn

Grab and float samples to4.6% Cu, 17.8% Zn

BC - CANADA

ALASKA - USA

±]̂

"

"

PALMERPROJECT

ANCHORAGE

VANCOUVER

INSET

CONSTANTINE 100%

CONSTANTINE withDOWA EARN-IN OPTION

Mental Health Trust Leasemineral rights only

Mental Health Trust Leasemineral & surface rightsPalmer Property State & Federal Mining Calims

FIGURE 1

RW & SOUTH WALL ZONESLOOKING NORTH

EAST-WEST LONG SECTION

1400 m

1200 m

1000 m

800 m

600 m

400 m

4208

00 E

4212

00 E

4210

00 E

4206

00 E

4204

00 E

4214

00 E

Near Surface Oxide/Leached (RW Zone)

massive sulphide and alterationexposed ~500m west on other side of mountain

thrust faulted fold hinge

upright limb

steep overturned limb

RW ZONE EAST

RW ZONE WEST

SOUTH WALLZONE I

SOUTH WALLZONES II & III

SOUTH WALLEM ZONE

Lower OffsetTarget

OPEN

OPEN

OPEN

OPEN

OPEN

CMR50 (37.5m)0.5Cu, 2.4Zn, 0.6Au, 123Ag

PALMER VMS PROJECT

NSV - no significant values

(24.2m) length indicated is drill core length (not true thickness)All intercepts are length x density weighted

LEGEND

NSV Zone I

ZONE IIIEM ZONEFootwall Mineralization2015 Intersection

ZONE I

RW ZONE

ZONE II

RW ZONE (oxide)

NSV Zone II & IIINSV RW Zone

SOUTH WALL ZONE ISURFACE TRACE

2015 RESOURCE WIREFRAME

EASTW

EST

Zone II & III intersection with

footwall fault

Zone Iintersection with

footwall fault

100 METERS

100

MET

ERS

Kudo faultintersection

with EM zone

CMR14 (24.7m)0.3 Cu, 1.9 Zn

CMR9 (3.4m)0.16 Cu, 11.0 Zn

CMR11 (18.1m)1.6 Cu, 8.6 Zn

CMR18a (3.3m)2.8 Cu, 4.7 Zn

CMR19 (38.5m)0.6 Cu, 7.3 Zn

CMR17 (4.8m)0.9Cu, 21.6Zn

CMR22 (30.0m)2.0 Cu, 5.8 Zn

CMR21 (6.3m)0.3 Cu, 2.9 Zn

CMR27NSV

CMR18b (4.2m)1.0 Cu, 3.9 Zn

RMC2 (6.0m)0.06 Cu, 3.46 Zn

CMR11 (12.6m)0.5 Cu, 6.8 Zn

CMR18 (1.5m)1.7 Cu, 2.6 Zn ended in zone

CMR17 (3.7m)0.2 Cu, 3.9 Zn

CMR21 (9.5m)0.3 Cu, 2.7 Zn

CMR28 (2.3m)3.6 Cu, 4.7 Zn

CMR32 (1.3m)0.1 Cu, 3.1 ZnCMR26 (6.1m)

1.5 Cu, 9.2 Zn

CMR7 (14m)4.1Cu, 7.4Zn 0.4Au 51Ag

CMR17 (27.5m)2.6 Cu, 3.6 Zn

CMR14 (46.4m)2.9 Cu, 3.0 Zn

CMR43 (25.2m)1.2 Cu, 0.4 Zn

RMC3 P2

RMC2oxide

CMR16NSV

CMR46 (20.6m)0.9 Cu, 7.2 Zn

CMR9 (24.2m)1.2 Cu, 7.2 Zn

CMR11 (46.9m)1.5 Cu, 5.5 Zn

CMR13a (11.3m)3.1 Cu, 0.6 Zn

CMR45 (21.7m)2.4 Cu, 9.1 Zn

CMR13b (30.3m)1.0 Cu, 1.0 Zn

CMR8

CMR23 (21.3m)2.8 Cu, 0.5 Zn

CMR24 (9.1m)1.9 Cu, 5.2 Zn

CMR30 (12.5m)0.1Cu, 0.5Zn, 0.4Au, 75Ag

CMR29NSV

CMR25 (16.8m)0.1 Cu, 1.4 Zn

CMR34 (10.4m)0.3 Cu, 4.1 Zn

CMR40 (20.8m)1.0 Cu, 5.0 Zn

CMR38NSV

CMR40 (17.4m)0.2 Cu, 2.3 Zn

CMR39 (2.5m)1.1 Cu 4.5 Zn

CMR38 (23.8m)0.4 Cu, 2.9Zn, 0.8Au, 123Ag

CMR30NSV

CMR42 (17.2m) 0.2 Cu, 1.2 Zn

CMR24 (9.1m)0.2Cu, 2.8Zn, 0.6Au, 53Ag

CMR48NSV/Jsp

CMR44NSV/Jsp

CMR49 (6.9m)0.5 Cu, 3.8 Zn

CMR49 (24.7m)2.0 Cu, 8.5 Zn

CMR49 (2.7m)0.01 Cu, 4.7 Zn

CMR40 (16.0m)0.3 Cu, 1.5 Zn

CMR50NSV

CMR52NSV

CMR44 (3.4m)0.51 Cu, 9.2 Zn

CMR47 (5.1m)0.1 Cu, 2.6 Zn

RMC99-12 (2.5m)1.9 Cu, 5.6 Zn

RMC99-10 (6.3m)1.2 Cu, 3.0 Zn

RMC99-11 (2.8m)0.1 Cu, 4.6 Zn

RMC99-13 (3.7m)0.1 Cu, 8.9 Zn

CMR06NSV

CMR31 (3.4m)0.2 Cu, 2.0 Zn

CMR61BNSV

CMR60NSV

CMR72 (10.5m)<0.1 Cu, 1.6 Zn

CMR73 (8.0m)<0.1 Cu, 1.3 Zn

CMR73 (2.8m)0.1 Cu, 3.6 Zn

CMR754.2 m @ 0.5 Cu, 4.0 Zn

& 3.0 m @ 2.3 Cu, 0.1 Zn

CMR64B (4.1m) 0.6 Cu, 5.0 Zn

CMR67 (3.9m)0.2 Cu, 5.1 Zn, 93 Ag

CMR65 (89.0m)0.8 Cu, 5.0 Zn

CMR631.6 m @ 0.2 Cu, 5.7 Zn

& 2.1 m @ 0.4 Cu, 8.2 Zn

CMR58 (2.9m)0.1 Cu, 5.6 Zn (faulted)

CMR69 (7.2m)0.4 Cu, 0.5 Zn

CMR62 (3.8m)0.1 Cu, 2.2 Zn (faulted)

CMR70 (7.9m)0.1 Cu, 0.8 Zn

(faulted/ footwall stringer)

CMR74NSV

CMR6611.3 m @ 0.3 Cu, 4.0 Zn

1.5 m @ 0.2 Cu, 7.0 Zn, 128 Ag

CMR68PY/Chert (NSV)

CMR57NSV

CMR59 (15.4m)1.0 Cu, 2.9 Zn

CMR54 (22.1m)2.5 Cu, 4.1 Zn

CMR71NSV

CMR77NSV

Elevation of Glacier Creek valley floor (420m)

CMR56EXTNSV

CMR53B (2.6m)1.5 Cu, 1.3 Zn

FIGURE 2

Table 1. Significant surface sample assay results.

Prospect Type Cu % Zn % Ag g/t Au g/t Ba %

Tsirku Float/Boulder 4.96 2.01 16.7 0.42 12.17

Tsirku Float/Boulder 0.22 6.32 19.8 0.94 11.82

Tsirku Float/Boulder 4.99 2.27 34.5 0.57 9.04

Tsirku Float/Boulder 2.05 3.32 11 0.34 8.71

Tsirku Float/Boulder 3.60 0.22 68 1.97 5.17

Tsirku Outcrop 0.01 1.29 0.9 0.01 0.36

Tsirku Float/Boulder 0.07 5.65 7.7 0.57 19.61

Tsirku Float/Boulder 0.16 4.62 52.2 0.45 19.61

Tsirku Float/Boulder 0.28 3.47 25.6 0.84 15.84

Waterfall Outcrop Grab 8.12 0.27 25.6 0.26 0.02

Waterfall Outcrop Grab 1.54 15.9 14.6 0.09 0.02

Table 2. Significant drill hole assay results.

Drill Hole From To Intercept Cu Zn Ag Au

Zone (meters) (meters) (meters) % % (g/t) (g/t)

CMR15-69 657 664.2 7.2 0.43 0.46 3.5 0.04 SW Lower Offset

CMR15-70 729.7 737.6 7.9 0.1 0.78 2.2 0.05 Fault/Footwall Stringer

Includes 729.7 731.6 1.9 0.11 1.92 3.9 0.08 Fault/Footwall Stringer

CMR15-71 No significant intersection

CMR15-72 380.8 391.3 10.5 0.02 1.56 0.7 0.01 SW EM Zone

Includes 380.8 385.1 4.3 0.02 2.28 0.8 0.01 SW EM Zone

CMR15-72 398.7 399.6 0.9 0.01 2.42 1.2 0.01 Footwall Stringer

CMR15-72 419.4 423.6 4.2 0.17 1.09 4.8 0.06 Footwall Stringer

CMR15-73 378.5 386.5 8.0 0.04 1.33 21.6 0.01 SW EM Zone

CMR15-73 506.6 511.3 4.7 0.09 2.48 2.2 0.01 SW EM Zone

Includes 508.5 511.3 2.8 0.09 3.59 2.3 0.01 SW EM Zone

CMR15-74 No significant intersection

CMR15-75 454.6 458.8 4.2 0.5 3.98 60.4 0.65 SW EM Zone

CMR15-75 483.2 505.5 22.3 0.71 0.39 6.8 0.11 SW EM Zone

Includes 498 501 3.0 2.32 0.07 14.9 0.19 SW EM Zone

CMR15-75 530.8 538 7.2 0.64 0.01 2.4 0.05 Footwall Stringer

CMR15-76 Geotechnical drill hole

CMR15-77 No significant intersection Drill intercepts reported as core lengths; true widths are estimated to be approximately 75% to 100% of reported

widths

* See the Company's news release date May 11, 2015 and available on www.sedar.com. Resource estimate utilizes

an NSR cut-off of US$75/t with assumed metal prices of US$1200/oz for gold, US$18/oz for silver, US$2.75/lb for

copper, and US$1.00/lb for zinc. Estimated metal recoveries are 89.6% for copper, 84.9% for zinc, 75% for gold

(61.5% to the Cu concentrate and 13.5% to the Zn concentrate) and 89.7% for silver (73.7% to the Cu concentrate

and 16% to the Zn concentrate) as determined from metallurgical locked cycle flotation tests. 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.

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.

Notes:

Samples of drill core were cut by a diamond blade rock saw, with half of the cut core placed in individual sealed

polyurethane bags and half placed back in the original core box for permanent storage. Sample lengths typically

vary from a minimum 0.3 meter interval to a maximum 2.0 meter interval, with an average 1.0 to 1.5 meter sample

length. Drill core samples were shipped by transport truck in sealed woven plastic bags to ALS Minerals laboratory

facility in North Vancouver for analysis. ALS Minerals operate according to the guidelines set out in ISO/IEC

Guide 25. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy

(AAS). Various metals including silver, gold, copper, lead and zinc were analyzed by inductively-coupled plasma

(ICP) atomic emission spectroscopy, following multi-acid digestion. The elements silver, copper, lead and zinc were

determined by ore grade assay for samples that returned values >10,000 ppm by ICP analysis. Density

measurements were determined at the project site by qualified Constantine personnel on cut core for each assay

sample.

The 2015 exploration program for the Palmer project is managed by Darwin Green, VP Exploration for

Constantine Metal Resources Ltd. and a qualified person as defined by Canadian National Instrument 43-101. Mr.

Green has reviewed the information contained in this news release and has also verified the analytical data for drill

core samples disclosed in this release by reviewing the blanks, duplicates and certified reference material standards

and confirming that they fall within limits as determined by acceptable industry practice. The analytical results have

also been compared to visual estimates for the base metals to check for any obvious discrepancies between

analytical results and the visual estimates.

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.