Constellation Resources Limited ('the Company' or 'Constellation') is pleased to announce the commencement of a further aircore ('AC') drilling program on tenement E28/2403.

AC drilling results to date have defined a highly prospective Nickel-Copper-Cobalt-PGE ('Ni-Cu-Co-PGE') geochemical target that is interpreted to be over three kilometres in strike and up to 400 metres wide - named the Eyre Anomaly. Strong evidence indicates magmatic nickel sulphides as being the source of the Eyre Anomaly which supports the prospectivity of the other established Ni-Cu-Co-PGE anomalies as a pathfinder to nickel sulphides in the basement intrusive.

Contact:

Peter Woodman

Tel: +61 8 9322 6322

AIRCORE DRILL PROGRAM

The high priority follow-up infill AC drilling is comprised of 20 holes totalling 2,200 metres and will be undertaken to improve the definition of the grade distribution at several of the established Ni-Cu-CoPGE geochemical footprints, with the northern Eyre Anomaly being a priority due to the current lack of drilling. The drill program will aim to infill each anomaly to approximately 100m centres in the first instance with the potential need for tighter patterns in certain areas. The processed AC results will be utilised in conjunction with existing results to optimise the locations of an anticipated Reverse Circulation drilling and downhole electromagnetics program.

ABOUT THE FRASER RANGE TENEMENTS

The Company manages the Orpheus Project, comprising six tenements covering approximately 558km2 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. Additionally, the Company has further 100% interests in two exploration licences (E28/2738 and E28/2957).

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 forwardlooking 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. This ASX Announcement has been approved and authorised for release by the Company's Managing Director, Peter Woodman.

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