Constantine Metal Resources Ltd. announced that it has signed a binding letter agreement to acquire an undivided 100% interest in the Yuma King Copper-Gold property consisting of 295 federal mining claims (3905 hectares). The Property represents a portion of the total 495 claim Yuma King property, located in La Paz County Arizona, USA. Constantine retains the right to a 50% interest in any agreement on the remaining 200 claim portion of the Yuma King property subject to certain obligations.

The Property is located 93 miles (153 kilometers) northwest of Phoenix, Arizona and about 20 miles (32 kilometers) southeast of Constantine's previously announced Bouse Cu-Au property acquisition. The principal exploration targets are the Yuma Mine copper-gold skarn mineralization and copper-molybdenum porphyry style mineralization, associated with phases of an early Jurassic porphyry system. An early Jurassic rhenium-osmium molybdenite age date at Yuma King indicates a similar age to the Bisbee porphyry copper and skarn deposit in SE Arizona (S. Keith, MagmaChem Exploration Inc, personal communication).

The Property includes the past producing underground Yuma copper-gold mine that saw intermittent production between 1940 and 1963 and is reported to have produced 8,728 short tons at a grade of 2.65% copper, 0.03 oz/t (short ton) gold and 0.62 oz/t silver. A 2005 NI43-101 technical report (Russell, 2005) estimated an inferred resource of 357,560 to 536,985 short tons of combined oxide-sulphide grading 3.03% copper, depending upon estimated average thickness of the unmined mineralization in the underground workings of the historic Yuma mine. The Company is not treating this historical resource estimate as a current resource.

More recent exploration at Yuma King has resulted in the discovery of a significant northern extension of the Yuma mine skarn mineralization and new copper-molybdenum style porphyry mineralization that are prime exploration targets that need to be followed up with geophysics and drilling. In 2006, the first surface drill program to test the Yuma Mine skarn mineralization encountered significant oxidized copper-gold skarn mineralization and established the first indication of Cu- Mo porphyry potential. The drilling was completed from 5 drill sites over a distance of approximately 2,500 feet to the east of the historic mine portal.

A 2011 drill hole, AV11-01, intersected the edge of the down dip extension of the Yuma mine skarn, 1,200 feet northeast of the historic mine workings. The information and sample data from previous operators are historical in nature and derived from various private company reports and historic government reports available in the public domain. These historical sample results have not been verified or validated by the Company and are not necessarily representative of mineralization on the property.

Readers are cautioned that the information in this press release regarding the Yuma copper-gold ine and/or nearby and/or geologically similar properties is not necessarily indicative of the mineralization on the Company's property. The information and sample data from previous operators and prospectors are historical in nature and derived from various private company reports and historic government reports available in the public domain. These historical sample results have not been verified or validated by the company and are not necessarily representative of mineralization on the property.

Sample procedures Rock grab samples, collected by the Company, were placed in plastic sample bags in the field and securely delivered to ALS Global in Reno, Nevada, USA, an accredited mineral analysis laboratory. All samples were analyzed for gold using a standard 30g fire assay technique and 33-element ICP analysis. Samples returning over 10 g/t gold were analyzed using fire assay- gravimetric method.

Samples returning over 10,000 ppm Cu were re-analyzed for high grade copper using 4-acid ICP AES. Yuma King Copper-Gold Purchase and Option Agreement Terms Constantine has a Purchase and Option right to acquire a 100% interest in two hundred and ninety-five (295) Federal Lode Claims, the Property, located in La Paz County, Arizona to be selected by Constantine from the four hundred and ninety-five (495) Federal Lode Claims located in La Paz County, Arizona the "Yuma King Property". The Purchase and Option right applies to the 152 claims currently selected by Constantine and includes the right of Constantine to select an additional 143 claims from the gold potential area of the graphite-graphene part of the Yuma King Property such that the total number of claims comprising the Property is 295.

The additional 143 claims will be selected at a future date and by mutual agreement with the Lessor. Once Constantine has completed its final selection of the 295 claims comprising the Property, the remaining 200 claim portion of the Yuma King Property is the "Graphite Property". Constantine has five (5) years to evaluate and, if considered warranted, purchase the Property.

The Agreement provides that Constantine has the optional right to purchase a 100% interest in the Property at any time while the Agreement is in effect for an aggregate price of USD 3,000,000, less any prior paid optional cash payments. Alternatively, Constantine may pay USD 2,850,000 and issue up to 1,250,000 shares in stages over the 5-year term. The Purchase Price may be accelerated at the Company's discretion.

Constantine has the right to pay all or a portion of the share payments by paying cash in lieu, which would contribute to the Purchase Price. The Agreement contains no royalty payments or work commitments. There is a 1% net smelter return royalty on 6 claims that include the Yuma Mine payable to the prior Yuma Mine owner.

Constantine has agreed to maintain the Graphite Property federal claims and together with the Owner market the Graphite Property in return for a 50% interest in any agreement regarding the Graphite Property with a third party. Constantine will have the right to explore the Graphite Property, until such time that a third-party agreement is negotiated and completed. Constantine will also have the right of first refusal on any portions of the Graphite Property that are identified with gold and base metal potential.

Constantine in return will give the third party that acquires the Graphite Property a ROFR on areas that are identified with high potential for graphite-graphene on the Property. The Agreement, including the issuance of shares of Constantine is subject to regulatory approval required by any provincial, state or federal regulatory bodies having jurisdiction over such share issuances, including acceptance of the TSX Venture Exchange.