Constantine Announces Issuance of Stock Options

Vancouver, British Columbia--(Newsfile Corp. - October 25, 2021) - Constantine Metal Resources Ltd. (TSXV: CEM) ("Constantine" or the "Company") announces the issuance of 2,121,250 stock options with an exercise price of $0.30 cents per share for the purchase of up to 2,121,250 shares of the Company, expiring October 25, 2026. The stock options are being issued to directors, officers and employees of the Company and are subject to approval by regulatory authorities.

About the Company

Constantine is a Canadian based mineral exploration company led by an experienced and proven technical team with a focus on the Palmer base metal project in southeast Alaska. The Palmer project is being advanced as a joint venture between Constantine (~46.6%) and Dowa Metals & Mining Co., Ltd. (~53.4%), with Constantine as project operator. The Dowa-Constantine partnership was initiated in 2013 and completed a positive Preliminary Economic Assessment (PEA) in 2019. The Palmer Joint Venture partnership is focused on advancing the Palmer project to feasibility while continuing exploration to build additional resources in this world class mining district.

In 2019, Constantine successfully spun-out its gold assets into HighGold Mining Inc. that included the high-grade Johnson Tract gold project in south-central Alaska, the Munro-Croesus Gold property renowned for its high-grade mineralization and other gold properties in the Timmins area, Ontario. In 2020, Constantine's 100% owned Big Nugget Gold project, located 8 kilometers east of the Palmer Project, was recognized as a potential gold lode source area, immediately upstream from the +80,000 ounce gold Porcupine Placer operations. In May 2021, Constantine announced the acquisition of the Bouse Cu-Au Property in southwest Arizona, that will be explored for its copper-gold potential.

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.

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
Phone: 604-629-2348. Email: [email protected]

Note:

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.

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