Golden Chalice Resources Inc.
TSX VENTURE : GCR

Golden Chalice Resources Inc.

September 22, 2009 10:18 ET

Golden Chalice Resources Plans Exploration Program on Timmins West Gold Project

- Geological Features and Structural Controls Similar to Recent Lake Shore Gold/West Timmins Mining Discovery of 12.75 g/t Au Over 83.4m - Drilling Underway on Abitibi East Property, Adjacent to Explor Resources' 2009 Discovery of 142.26 g/t Au Over 3.0 Meters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2009) - Golden Chalice Resources Inc. (TSX VENTURE:GCR) ("The Company") is pleased to announce that a recent review of government maps and other geological data, including a VTEM airborne survey flown by the Company, has identified potential for gold mineralization at the Timmins West Property, 65 km southwest of Timmins, Ontario.

Please click on the following link to view a map of the Timmins West project and other properties in the West Timmins Mining/Lake Shore Gold discovery region (if the link does not work cut & paste it into the address bar of your browser):

http://www.goldenchaliceresources.com/i/pdf/TW_150k_GCR.pdf

The Company believes its wholly owned Timmins West Property exhibits similar regional geological features as the nearby Thunder Creek Project held by West Timmins Mining Inc. and Lake Shore Gold Corp. Recent deep drilling at the Thunder Creek Project intersected 83.40 meters grading 12.75 grams gold per tonne (g/t), one of the broadest high-grade gold intercepts ever reported from the West Timmins District. The host syenite porphyry at the Thunder Creek Project contains a number of higher grade sub-zones where drilling intersected high-grade mineralization of 38.22 g/t gold over 11 meters.

"West Timmins Mining and Lake Shore Gold's recent success with deep drilling gives us great confidence in our Timmins West Project as the property's potential has been tested with limited shallow drilling," comments Chairman of the Board, Richard Hughes. "The similar geology associated with multiple porphyries on the Timmins West property, as well as the proximity to the Destor-Porcupine Fault Zone make it a highly prospective gold hunting ground."

The host rocks for gold deposits in the Timmins mining camp have been deformed, folded and faulted by major structures such as the Destor Porcupine Fault Zone (DPFZ). These structural systems tend to fracture the rocks creating conduits for the remobilization of gold-bearing fluids from deeper seated sources. The gold-bearing fluids are often associated with intrusives such as porphyries, syenites or granodiorites that may have acted as heat engines responsible for generating these gold-bearing fluids. The western extension of the DPFZ is projected to transect the north portion of Golden Chalice's Timmins West Property.

Historically, the favorable porphyries and surrounding rocks on the Company's Timmins West Property have only been drill-tested with a few shallow holes. Data produced from the Company's airborne regional VTEM/magnetic survey is currently being examined for possible structural and geologic trends that may be related to gold mineralization. Exploration and drilling at depth and along strike will be required to adequately test these porphyries and advance the potential for a gold system on the Timmins West Property.

The Timmins West Property is situated near established mining infrastructure in the Timmins camp, known for its world-class gold and base metal mines and deposits. Approximately 70 million ounces of gold, and over 420 million ounces of silver, 18 billion pounds of zinc and 6.8 billion pounds of copper have been produced from this prolific mining district since mining began in the early 1900s.

The Company would also like to give a brief update on its Abitibi East property, adjacent to a 2009 discovery by Explor Resources where drilling intersected 142.26 g/T Au over 3.0 meters. On July 8th, 2009 the Company announced it had partnered with a private company which would incur $394,694 in expenditures on the project. Prospecting and sampling programs have been completed and drilling is currently underway. The Abitibi East property is located approximately 75 km northeast of Timmins, Ontario.

Please click on the following link for a map of the Abitibi East gold target area (if the link does not work cut & paste it into the address bar of your browser):

http://www.goldenchaliceresources.com/i/pdf/Abitibi-East-map-v9.pdf

Peter Caldbick, P.Geo. and Kevin Montgomery, PGeo., are the qualified persons for the purposes of National Instrument 43-101 for the Company's Timmins West and Abitibi East Projects. 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 be 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.

Along with the Langmuir Project, the Company has recently brought forward a number of its gold projects, including the Timmins West and Abitibi East properties.

Golden Chalice has assembled a portfolio of properties in established mining and mineral districts, notably the Abitibi in Ontario, the Bathurst camp in New Brunswick, and a joint-venture project in Nevada.

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.

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

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