Bouse Property Option Acquisition In Southwest Arizona

VANCOUVER - Constantine Metal Resources Ltd. has signed a binding letter agreement with a prospector to acquire an undivided 100% interest in 106 contiguous federal mining claims (886 hectares) that make up the Bouse copper-gold property, located in La Paz County Arizona. The Property is located about 12 miles east-northeast of the Copperstone Mine with 500,000 ounce gold in past production (Black et.al., 2018) and within a newly recognized geological environment in Arizona.

Pursuant to the Agreement, Constantine has five years to evaluate and, if considered warranted, purchase the Property. The Agreement provides that Constantine has the right to purchase a 100% interest in the Property at any time while the Agreement is in effect for an aggregate price, less any cash payments to the prospector that have been made at the date the Purchase Price is paid.

The shallow east dipping Plomosa fault separates the Property geology into Upper Plate and Lower Plate rocks. Historic exploration has focused on the Upper Plate rocks that are host to 12 small past producing copper-gold mines during the first half of the 20th century (Strickland 2017). The small mines are hosted in steep to moderately easterly dipping specularite-quartz-carbonate-barite-fluorite veins and fracture systems with gold and copper oxide mineralization. These Upper Plate host rocks have been recently recognized for Iron Oxide-Copper-Gold (IOCG) potential. The Lower Plate is an intensely silica-albite altered (peraluminous) intrusive granite complex with areas of extensive brecciation that hosts widespread gold and copper oxide mineralization. During the Company's field visit in late October 2020, fifty-five (55) surface grab samples were collected from the Upper Plate and fifty (50) surface grab samples were collected over a 4 mile (6.4 km) extent from the Lower Plate.

Twelve of the fifty lower plate surface grab samples were collected from a 400 x 500 meter area at the north end of the Lower Plate altered intrusive complex returned nil to 1.82 g/t gold and 0.02 to 1.42% copper. Previous sampling in the area (33 grab samples) returned nil to 6.26 g/t gold and trace to 4.21% copper.

Garfield MacVeigh, President of Constantine stated, "The Bouse property represents an exceptional, early stage, copper-gold exploration opportunity with evidence of widespread copper-gold oxide mineralization in surface rocks that has received limited modern exploration with drill ready targets. The previously unrecognized potential of the lower plate rocks that have a Mesquite deposit type pedigree have not been drill tested to our knowledge and are the initial high priority target for Constantine."

Historical exploration by US Borax (Corn-Ahern, 1987) for copper-gold mineralization in Upper Plate rock included 475 surface rock samples and 18 widely spaced reverse circulation holes (8,795 feet). The wide spaced vertical drill holes established that thick tectonic breccias contained gold and copper mineralization including: Hole B1 - 0.20 ppm gold and 0.05% copper over 40 ft; Hole B2 - 0.11 ppm gold over 60 ft;

Hole B11 - 0.56 ppm gold over 30 ft and 0.23 ppm gold over 80 ft; Hole B16 - 0.41 ppm gold over 20 ft; 0.18 ppm gold and 0.19% copper over 30 ft; and 0.15% copper over 150 ft; and Hole B18 - 0.36 ppm gold and 0.14% copper over 30ft.