GCR Gespeg Resources Ltd

Golden Chalice Resources Inc. (TSX VENTURE: GCR) ("The Company") is pleased to announce that it has appointed a new management team to build on the Company's vast array of promising assets. Mr. Stephen de Jong has been appointed President and Mr. Stephen Pearce has been appointed Chief Financial Officer. Both will join the Board of Directors with Mr. Frank Durant.

"It is a privilege to be given the opportunity to build upon and develop the Company's impressive collection of properties," commented Mr. de Jong. "On behalf of the Company I want to thank prior management for their work and entrusting myself and our new team to continue building shareholder value going forward. We will be providing a corporate update within the next two weeks announcing plans for the Company's numerous projects."

Mr. de Jong has over 10 years of management experience and currently advises a number of junior mining companies regarding corporate development strategies. He is an entrepreneur by nature and been involved in numerous businesses related to resource and non resource industries. While his prior start-up ventures were private, most of the junior mining advisory work has been with public companies.

Mr. Pearce is a practicing lawyer who specializes in corporate and securities work. He has been actively involved in public resource companies for over 15 years. He is currently an officer and/or director of a number of junior public companies, primarily in the natural resource sector, namely Golden Goliath Resources Ltd., Sable Resources Ltd., Flying A Petroleum Ltd. and Sunorca Development Corp. All of the companies are headquartered in Vancouver, British Columbia and listed on the TSX Venture Exchange, with the exception of Sunorca which is listed on the Canadian National Stock Exchange. Mr. Pearce is active in his community as President of the Western Regional Advocacy Group Society which works in partnership with Sleep Country Canada to provide beds to those in need. Together they have provided over 200,000 beds to people in need over the past 10 years.

Mr. Durant brings 32 years of experience building successful companies to this Board. While his focus has been building his own private companies in real estate development, he has been an active investor and student of the junior mineral exploration sector for many years. Mr. Durant has visited many exploration properties, studied the work of experienced geologists and technicians and taken a keen interest in the marketing aspects of junior exploration companies. His experience, common sense approach and successful real estate marketing expertise will bring a unique and new perspective to the Board.

The Company is fortunate to have attracted such capable and dynamic members to its management team and Board and is confident they will provide strong leadership. They intend to work closely with the other Board members and technical advisors to move the Company forward in developing our Ontario properties and building a strong asset base for our shareholders.

As part of the Company's management change Richard Hughes, Alan Campbell, Darcy Hughes and Joe Montgomery have resigned from the Board of Directors of the Company to focus on their other projects. The Company wishes to thank them for their time and dedication to the Company and wish them well on all future endeavors. The Company has also relocated its executive offices in Vancouver, please see the new contact information above.

ABOUT GOLDEN CHALICE

On May 19, 2010, the Company announced it had completed a NI 43-101 resource estimate for its flagship Langmuir Nickel 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.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contacts: Corporate Inquiries: Golden Chalice Resources Inc. Steve de Jong or Stephen Pearce (604) 629-1808 info@goldenchaliceresources.com www.goldenchaliceresources.com