VANCOUVER, BC -- 05/30/07 --
Golden Chalice Resources Inc. (PINKSHEETS: GCRIF) (TSX-V: GCR) is pleased to announce that the drill has been moved to
start drilling the new Nickel discovery on the Langmuir Property, southeast
of Timmins, Ontario. This phase of drilling will systematically test the
updip, downdip and strike extent in both directions of the wide zone
intersected in Hole GCL07-6.
Hole GCL07-6 intersected 1.14% Nickel, 0.08% Copper, 0.02% Cobalt, 0.11 g/t
Platinum and 0.26% Palladium over 72.50 metres. This drill core intercept
also contains two separate heavily mineralized intersections of 2.23%
Nickel over 17.10 metres and 1.74% Nickel over 13.10 metres.
Bore hole geophysics has been completed on the drill hole. The data is
being compiled by the geophysicist and will be used to help guide the
drilling program.
Peter Caldbick, P.Geo., and Kevin Montgomery, P.Geo., are the qualified
people for the purposes of National Instrument 43-101 for the Company's
Langmuir Project. Project supervision is by Kevin Montgomery and the
contents of this Press Release have been reviewed and approved by Peter
Caldbick.
About Golden Chalice
Golden Chalice is well positioned to discover and capitalize on world class
gold, silver, copper, nickel, zinc, platinum, palladium and diamond
deposits. During the last couple of years the Company has strategically
accumulated large land packages in existing mining or mineral districts
such as the Abitibi in Ontario and in the Bathurst Camp in New Brunswick.
These properties have existing infrastructure and are often within road
access to metallurgical facilities to process mined ores. Details relating
to exploration activities on specific properties will be announced during
the coming months as the work program is implemented.
GOLDEN CHALICE RESOURCES INC.
On behalf of the Board of Directors
Richard Hughes, Chairman
For Further Information Contact:
Richard Hughes
Phone: (604) 685-2222 or visit Golden Chalice's web site:
www.goldenchaliceresources.com to see Smartstox interview 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
GOLDEN CHALICE RESOURCES INC.
711 - 675 West Hastings Street
Vancouver, B.C.
V6B 1N2
Phone: (604) 685-2222
Fax: (604) 685-3764
www.goldenchaliceresources.com
Distributed by Filing Services Canada and retransmitted by Market Wire
For Further Information Contact:
Richard Hughes
Phone: (604) 685-2222
www.goldenchaliceresources.com
