Initial NI 43-101 Mineral Resource Estimate for San Javier Copper Deposit Sonora, Mexico



    TSX: CCU

    DENVER, CO, April 18 /CNW Telbec/ - Constellation Copper Corporation
(TSX: CCU) is pleased to announce an initial mineral resource estimate for the
Cerro Verde portion of the San Javier copper deposit, located in Sonora,
Mexico.
    The mineral resource at San Javier contains a total inferred resource of
81.0 million tonnes grading 0.35% Cu, containing 629 million pounds of copper.
This inferred resource is derived from drilling results which are deemed to be
insufficient to allow any of the resource to be categorized as measured or
indicated. Drilling is continuing on the property to increase the drill
density in the area(s) of the inferred resource and to define extensions to
this resource. This resource estimate should be considered preliminary in
nature and it will be updated periodically as more drill information becomes
available. The resource does not include material that falls outside of the
search parameters used in the estimation procedure, including that material
both internal and external to the drill holes used. A summary of the resource
estimate is included in the table below. This resource does not include any
contribution from the La Trinidad or Mesa Grande areas, for which there is
currently insufficient drill hole data available for a resource estimate, and
which were discussed in press release #2007-04.
    These resources are contained within a conceptual open pit shape with a
maximum overall 50-degree slope angle, using a copper price of $2.40/lb. and
conceptual level mining and processing costs. The copper price used reflects
120% of the 3-year running average price of $2.00/lb. which was used by
Constellation for reporting reserves at other properties as of December 31,
2006. The mining and processing costs reflect a large-scale open pit, heap
leach SX-EW type operation. The average copper recovery applied is 60% and is
based on the leachability indicated by sequential copper analyses for
individual three meter sample intervals. Additional copper mineralization is
present at Cerro Verde but it is predominantly comprised of chalcopyrite, is
not amenable to the process alternative being considered for this resource,
and is therefore excluded from the current resource estimate. A total of
42.1 million tons of material below the cutoff grade of 0.10% Cu is also
contained in the conceptual open pit which results in a waste:ore strip ratio
of 0.52:1.0.
    A total of 77 drill holes totaling 15,466 meters were used in the
estimate for the Cerro Verde deposit, of which 57 are Constellation core
holes, 13 are Constellation RC drill holes, and 7 are historic Phelps Dodge
core holes. Complete assay results were available for the Phelps Dodge holes
and several of these holes were twinned with Constellation drill holes
confirming the Phelps Dodge results, hence these assays were deemed reliable
and incorporated into the database for this estimate. Numerous drill assay
results from older Penoles drill holes were not used in this estimate.
    The grade and copper recovery estimation was done by ordinary kriging
constrained by probabilistic shells developed from indicators at a 0.10% total
copper threshold. Copper recovery was defined as the sum of acid soluble
copper plus cyanide soluble copper divided by total copper.
    The mineral resource estimate was completed by Constellation Copper
Corporation and has been reviewed by SRK Consulting (US), Inc. ("SRK") of
Denver, Colorado. Leah Mach, CPG, Principal Geologist for SRK, is the
Qualified Person responsible for this mineral resource estimate and is
independent of Constellation, as defined by NI 43-101. Ms. Mach has reviewed
and approved the content of this press release. A Technical Report concerning
this resource estimate will be filed on SEDAR (www.sedar.com) within the next
45 days.

    
    San Javier Project                                  Constellation Copper
    Cerro Verde Deposit

    Inferred Resource                                             April 2007
    -------------------------------------------------------------------------
    BENCH     k Tonnes  Total   Contai-  Reco-  Cu Re-  Reco-   Waste  Strip
                 above   Cu %   ned Cu   vered  covery  vered    tons  Ratio
              Internal            Mlbs    Cu %       %   Mlbs
                cutoff
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Total/
    Averages:  81,000    0.35     629     0.21     60%    377  42,100   0.52
    -------------------------------------------------------------------------

       notes:

           1)  Resources reported are within a raw floating cone pit above
               the internal cutoff grade of 0.1% total Cu
           2)  Cu price of $2.40/lb
           3)  Pit slope 50 degrees
           4)  Costs applied in open pit analysis:

                              Mining ($/t)      fixed $           $0.80
                               Crush ($/t)      fixed $           $0.40
                             Process ($/t)      fixed $           $0.40
                                Acid ($/t)      fixed $           $1.60
                                 G&A ($/t)      fixed $           $0.33
                     SXEW ($/lb recovered)   variable $           $0.20
    
    -------------------------------------------------------------------------

    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: Gregory A.
Hahn, President & CEO; Michelle Hebert, Manager-Corporate Affairs, (720)
228-0055, Toll Free: 1-877-370-5400, info@constellationcopper.com,
www.constellationcopper.com; Renmark Financial Communications Inc.: Neil
Murray-Lyon, nmurraylyon@renmarkfinancial.com; Barbara Komorowski,
bkomorowski@renmarkfinancial.com; Media - Lynda Martineau,
lmartineau@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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