Constantine Metal appoints VP, advanced projects

Feb 6, 2018

2018-02-06 09:56 ET – News Release

Mr. Garfield MacVeigh reports

CONSTANTINE ANNOUNCES APPOINTMENT OF IAN CUNNINGHAM-DUNLOP AS VICE PRESIDENT, ADVANCED PROJECTS

Constantine Metal Resources Ltd. has appointed Ian Cunningham-Dunlop to the position of vice-president, advanced projects. The appointment coincides with the transition to advanced stage exploration and evaluation work at the company’s high-grade Palmer project, southeast Alaska.

Mr. Cunningham-Dunlop is a seasoned mining executive with more than 30 years of experience in domestic/international mineral exploration and project development and was most recently involved in advancing the Castle Mountain gold project in California (NewCastle Gold), the Karma gold mine in Burkina Faso (True Gold Mining) and the Long Canyon gold mine in Nevada (Fronteer Gold). He also supervised all surface exploration activities at the Eskay Creek Au-Ag-Cu-Pb-Zn (gold-silver-copper-lead-zinc) mine in British Columbia for Homestake Mining/Barrick Gold (1997 to 2003) giving him a strong understanding of volcanic massive sulphide systems similar in style and age to Palmer. Mr. Cunningham-Dunlop holds a BSc in geological engineering from Queen’s University and has worked with the company as a senior technical adviser since 2014. He is a qualified person under National Instrument 43-101 guidelines.

Garfield MacVeigh, president and chief executive officer, states: “We are extremely pleased to welcome Mr. Cunningham-Dunlop as a key member of Constantine’s senior management team. His past experience and expertise with successful advanced exploration to development stage projects will be invaluable as we enter the next stages at Palmer. We look forward to an exciting year in 2018 as we continue to advance the Palmer project and build on the great exploration success of 2017.”

In connection with Mr. Cunningham-Dunlop’s appointment, the company has granted Mr. Cunningham-Dunlop 300,000 stock options to purchase 300,000 common shares of Constantine at an exercise price of 18.5 cents per option for each common share for a period of five years. The stock options have been granted pursuant to Constantine’s stock option plan and are subject to vesting provisions and the acceptance of the TSX Venture Exchange.

About the Palmer project

Palmer is an advanced stage, high-grade volcanogenic massive sulphide (VMS) project, with an inferred mineral resource of 8.1 million tonnes grading 1.41 per cent copper, 5.25 per cent zinc, 0.32 gram per tonne gold and 31.7 g/t silver*. The 2017 discovery of the exciting new zinc-silver-gold-rich AG zone highlights the district potential of the camp. The project is being advanced as a joint venture between Constantine (51 per cent) and Dowa (49 per cent), with Constantine as operator. 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 kilometres 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. VMS deposits are known to occur in clusters and with at least 25 separate base metal and/or barite occurrences and prospects on the project, there is abundant potential for discovery of multiple deposits at Palmer.

About the company

Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. In addition to the company’s flagship copper-zinc-silver-gold Palmer VMS project, Constantine also controls a portfolio of high-quality, 100-per-cent-owned gold projects in the Timmins camp, Ontario. This includes the large, well located Golden Mile property in Timmins and the Munro Croesus gold property that 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.

* Eight-million-one-hundred-twenty-five-thousand-tonne inferred resource grading 1.41 per cent copper, 5.25 per cent zinc, 0.32 g/t gold and 31.7 g/t silver. See the company’s news release date May 11, 2015, and available on SEDAR.

Resource estimate utilizes a net smelter royalty cut-off of $75 (U.S.)/t with assumed metal prices of $1,200 (U.S.)/ounce for gold, $18 (U.S.)/oz for silver, $2.75 (U.S.)/pound for copper and $1 (U.S.)/lb for zinc. Estimated metal recoveries are 89.6 per cent for copper, 84.9 per cent for zinc, 75 per cent for gold (61.5 per cent to the Cu concentrate and 13.5 per cent to the Zn concentrate) and 89.7 per cent for silver (73.7 per cent to the Cu concentrate and 16 per cent 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.

Darwin Green, vice-president of exploration for Constantine Metal Resources and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

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