Constellation Resources Limited ('the Company' or 'Constellation') is pleased to announce the commencement of a four hole, 750 metre reverse circulation ('RC') drilling program at the McPherson Prospect ('McPherson') on tenement E63/1282 in the southern Fraser Range.

MCPHERSON ANOMALY

The McPherson nickel sulphide target is a coherent, north-west trending nickel-copper ('Ni-Cu') soil anomaly, located above a coincident magnetic unit in the north-east corner of the southern tenements of the Orpheus Project which may represent a favourable intrusive unit to host nickel sulphides. Mid to late time electromagnetic data acquired previously from a moving loop electromagnetic ('MLTEM') survey has detected features that could be related to subtle bedrock conductors.

These MLTEM conductors are located beneath the soil anomaly and two conductors intersect the magnetic unit. A reconnaissance field trip by the Company confirmed the basement units are concealed under cover. No historic drill holes were found or surface cultural effects identified that may lead to false electromagnetic responses. The drilling is intended to target the coincident and layered Ni-Cu soil anomalism, moderate electromagnetic anomalies and cross-cutting magnetic feature identified at McPherson.

Contact:

Peter Woodman

Tel: +61 8 9322 6322

ABOUT THE FRASER RANGE TENEMENTS

The Company manages the Orpheus Project, comprising six tenements covering approximately 443km2 in the Fraser Range province of Western Australia. In the Fraser Range, certain Proterozoic mafic/ ultramafic intrusion suites are prospective to host nickel-copper sulphide mineralisation. The region is currently experiencing high levels of exploration activity for nickel following the Nova, Silver Knight, Mawson and Lantern discoveries. The Orpheus Project includes a 70% interest in three mineral exploration licences (E28/2403, E63/1281 and E63/1282) and one mineral exploration licence application (E63/1695). The granted exploration licences form part of a joint venture between the Company (70%) and Enterprise Metals Limited ('Enterprise') (30%, ASX: ENT). Pursuant to the joint venture agreement, the Company is responsible for sole funding all joint venture activities on the tenements, which form part of the joint venture, up to completion of a bankable feasibility study.

FORWARD LOOKING STATEMENTS

Statements regarding plans with respect to Constellation's project are forward-looking statements. There can be no assurance that the Company's plans for development of its projects will proceed as currently expected. These forward looking statements are based on the Company's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

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