Constellation Copper Announces Expected Delay in Filing Interim Financial Statements



    TSX: CCU

    DENVER, CO, Nov. 8 /CNW Telbec/ - Constellation Copper Corporation
("Constellation" or the "Company") (TSX: CCU) reports that it has been delayed
in filing its interim financial statements for its third quarter ended
September 30, 2007 and Management Discussion & Analysis ("Third Quarter
Report") related thereto by the required filing date under applicable Canadian
securities laws, namely November 14, 2007. The delay is attributable to the
status of the Company's evaluation of various strategic financing alternatives
and methods of conserving cash previously announced on September 18, 2007.
Management of the Company believes that certain decisions may be made in the
near term that could significantly impact the presentation of the Company's
financial statements, and if made, the actual impact will take time to
determine in order to prepare the appropriate financial statements.
    The Company anticipates that it will be in a position to file its Third
Quarter Report by January 14, 2008. Until its Third Quarter Report is filed,
the Company intends to satisfy the requirements of the "alternate information
guidelines" described in CSA Staff Notice 57-603 (the "Notice"), including
issuing bi-weekly default status reports.
    As a result of this delay, Constellation management has asked the
securities regulatory authorities in each of the Provinces of Canada to put in
place a management cease trade order (the "MCTO") covering all persons who are
directors, officers or insiders of the Company or who have been directors,
officers or insiders of Constellation during the period that the financial
statements are being prepared. If the Company's Third Quarter Report is not
filed by January 14, 2008, one or all of the authorities may impose an issuer
cease trade order against Constellation. The Company does not believe that it
will be affected by this aspect of the Notice because it anticipates that it
will be in a position to file its Third Quarter Report by January 14, 2008.
The MCTO will remain in place until two full business days following receipt
by the authorities of all filings that the Company is required to make
pursuant to applicable Canadian securities laws.

    This press release contains certain forward-looking statements. In
certain cases, forward-looking statements can be identified by the use of
words such as "plans", "expects" or "does not anticipate", or "believes", or
variations of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved". Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, risks related
to changes in commodity and power prices, changes in interest and currency
exchange rates, inaccurate geological and metallurgical assumptions (including
with respect to the size, grade and recoverability of mineral reserves and
resources), unanticipated operational difficulties (including failure of
plant, equipment or processes to operate in accordance with specifications,
cost escalation, unavailability of materials and equipment, delays in the
receipt of government approvals, industrial disturbances or other job action,
and unanticipated events related to health, safety and environmental matters),
political risk, social unrest, and changes in general economic conditions or
conditions in the financial markets. Although the Company has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
    %SEDAR: 00002465E




For further information:

For further information: Constellation Copper Corporation: Patrick
James, President, Michelle Hebert, Manager-Corporate Affairs, (720) 228-0055,
Toll Free: 1-877-370-5400, Fax: (303) 863-1736, info@constellationcopper.com,
www.constellationcopper.com; Renmark Financial Communications Inc.: Neil
Murray-Lyon nmurraylyon@renmarkfinancial.com, Barbara Komorowski,
bkomorowski@renmarkfinancial.com; Media - Vanessa Napoli,
vnapoli@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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Constellation Copper Corporation

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