SOURCE: Chancery Resources, Inc.

December 19, 2008 09:30 ET

Chancery Resources Comments on Recent Stock Activity

VANCOUVER, BC--(Marketwire - December 19, 2008) - Chancery Resources, Inc. (Chancery) (OTCBB: CCRY) an emerging leader in the junior gold mining industry, today commented on recent market activity in the Company's common stock. The Company noted that there had been an extraordinary increase in trading activity in the Company's stock since December 1, 2008. Since that time, the value of Chancery's share price has dropped precipitously, this despite the fact that the outstanding share count has remained unchanged at 32.25 million and stock available to trade (the "float") remains at 7.5 million during this time period. As a result, the Company's market cap has fallen considerably, which far undervalues the Company's assets even though no fundamental change in the Company's financial position or operating performance has occurred.

The Company has ordered the DTC sheets from the transfer agent, Empire Stock Transfer, and has verified that the outstanding share count and float remain unchanged, and will be conducting a further investigation by ordering a Non Objecting Beneficial Owners list (NOBO list) to verify any "naked short" position may have been established or any other irregularity. The NOBO list will be compared to the reports from the DTC which contains data regarding all brokers and amounts of shares being held for investors. These lists will be used to get a total amount of shares owned by all shareholders and any naked short positions. The findings will then be reported to FINRA to take action against the violators of the naked short regulations or any other irregularity. The Company is prepared to do all that is necessary to return the company's stock to its proper value and fundamentals, lastly our management will remain focused in executing their business plan for this coming year 2009. Further updates on this rather unique situation will be forthcoming as soon as they are available.

Notice Regarding Forward-Looking Statements

Forward-Looking Statements: With the exception of historical information contained in this press release, this press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to, the effect of economic conditions, the impact of competition, and the results of financing efforts. The words "plans to," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.

2008 Chancery Resources Inc. The information herein is subject to change without notice. Chancery Resources Inc shall not be liable for technical or editorial errors or omissions contained herein.

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