Constellation Resources Limited report that based on latest assay results from its March 2021 program, the Company has defined a new emerging Ni-Cu-Co target located to the west of the highly prospective Eyre Anomaly in the Fraser Range. Aircore Drilling Program: Assay results have been received from the Company's March 2021 AC program on E28/2403 (70% Constellation, 30% Enterprise Metals Limited) in the Fraser Range. Additionally, twenty AC holes were recently completed in July 2021 for a total of 2,244 metres (assay results from this program remain outstanding). The latest AC program achieved three key objectives: 1. To infill drill the southern Eyre Anomaly around hole KAC0091; 2. Follow up infill drilling around hole KAC0084, a new emerging nickel sulphide target; and 3. The completion of the infill drilling program at the northern Eyre Anomaly to 100 metre centres. Eyre Anomaly Programs: The Eyre Anomaly is a highly prospective Ni-Cu-Co-PGE geochemical target interpreted to be over three kilometres in strike and up to 400 metres wide. Strong evidence indicates magmatic nickel sulphides being the source of the Eyre Anomaly with optical petrological analysis confirming trace levels of magmatic nickel-copper sulphides in multiple holes in a fertile mafic intrusion. Seven holes were completed to infill the southern Eyre Anomaly area to a notional 50 metre spacing in July 2021. The tighter drill densities have proved to be highly effective in demonstrating the continuity of both fertile peridotite/olivine gabbronorite host rock, and potentially its associated Ni-Cu-Co-PGE geochemical dispersion. Five samples were submitted for optical petrological analysis from bottom of hole samples. The petrology results are expected in the current quarter and will be used to confirm the continuity of the prospective host rocks that have been interpreted by the geological logging. The Northern Eyre Anomaly infill drilling was completed to 100 metre centres. Well-developed regolith profiles were formed over the basement units. The assay results will guide the next steps in the area. A Program of Works ("POW") has been submitted that will allow the entire southern Eyre Anomaly to be drilled to 50 metre centres. A high priority AC program is planned after the POW is approved, subject to rig availability. The results from AC drilling programs at the Eyre Anomaly will be used to optimise the locations of an anticipated diamond drilling and downhole electromagnetics programs this calendar year. New Emerging Ni-Cu-Co Target: Broad geochemical dispersion in regolith around KAC0084 (4m @0.10% Ni, 0.05% Cu, 0.03% Co, 7ppb (Pt+Pd), 4ppb Au) was recently returned from the first suite of assays submitted from the March 2021 drilling program (Au-PGE results are still pending). The assay and petrology results from the March 2021 AC program has displayed promising host rocks and pathfinder geochemistry patterns whilst acknowledging the early stage of evaluation for this emerging target area. Three additional holes were completed over this area in the July 2021 program with assay and petrology results pending. A POW has been submitted to allow for further AC drilling to both extend the interpreted mineralised extents on a 100 metre grid pattern and infill to 50 metre centres on selected traverses were required.