Golden Chalice Resources Inc. (TSX VENTURE:GCR) ("The Company") is pleased to
announce that after a review of recent drill and geophysical data it will be
moving forward with the second phase of exploration plans on its Abitibi East
property.


Recent drilling on the East Extension has intersected a wide zone of alteration
with anomalous gold mineralization. Trends in ground and airborne magnetics were
used to identify this new gold bearing zone that is on strike with Explor
Resources discovery of 142.26 g/t over 3 metres. 


"The Abitibi East Property continues to produce high-quality exploration targets
ranging from Kidd Creek type copper, zinc, and silver massive sulphide deposits
to high grade gold mineralization," comments Company President, John Keating.
"Most encouraging is how the new altered zone with gold potential was discovered
by the first 2 holes ever drilled on the projected trend of the Explor
discovery. This next phase of exploration and drilling will target areas where
potential cross structures and porphyries intersect the alteration zone and
produce larger systems for gold mineralization."


Two holes spaced 300 metres apart intersected the altered zone on the Abitibi
East Property's East Extension. Trends in the ground geophysics suggest the zone
crosses the entire length of the 1.5 km long grid. 


The Company plans to expand the grid and carry out a ground geophysical Induced
Polarization (IP) survey to locate areas of greater sulphide mineralization
beneath the overburden. Gold mineralization often increases in areas where there
is an increase in sulphide minerals, such as pyrite. Targets identified in the
IP survey will then be prioritized for drilling to test their gold potential.


As part of the Company's on-going initiative to focus resources on the most
favourable exploration targets and properties, a review of historical work,
recent drilling, and airborne geophysics for the West Extension of the Abitibi
East property has been completed. Based on the results of this review the
Company has decided drop the West Extension part of the property and focus
resources on the Abitibi East - East Extension.


The Company is also currently conducting a review on the potential of it
Shillington Gold property located 60 km southeast of Timmins, Ontario. Work done
by the Lavigne Silver Mining Company in 1911 encountered 1.25 oz/t gold over 30
feet. An exploration update and Company plans for the property will be released
shortly.


Peter Caldbick, P.Geo. and Kevin Montgomery, PGeo., are the qualified persons
for the purposes of National Instrument 43-101 for the Company's Abitibi East
Project. The technical contents of the press release have been reviewed and
approved by Peter Caldbick.


About Golden Chalice

Along with its Abitibi East property the Company's continues to focus on its
flagship Langmuir Project where 2007 drilling intersected 72 meters of 1.14%
nickel. The Langmuir Project is easily accessible by road and is near existing
mining infrastructure in the Timmins camp, host to numerous world-class gold and
base metal deposits. The Company owns 100% of the property which covers more
than 30 km of favorable stratigraphy with potential for hosting Kambalda-style
deposits. 


The Company is also advancing its Timmins West property, which contains a number
of porphyries and similar geology to the Lake Shore Gold ground, approximately
30 km to the northeast. 


Visit Golden Chalice's web-site: www.goldenchaliceresources.com to see Smartstox
interviews with Company Chairman and President.


This document contains certain forward looking statements which involve known
and unknown risks, delays and uncertainties not under the corporation's control
which may cause actual results, performance or achievements of the corporation
to be materially different from the results, performance or expectation implied
by these forward looking statements.
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