Chapleau Resources Ltd.
TSX VENTURE : CHI

Chapleau Resources Ltd.

April 18, 2008 13:37 ET

Chapleau Resources Continues to Intersect Low Grade Copper Mineralization on the La Yegua Copper-Gold Porphyry Project in Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2008) - Chapleau Resources Ltd. (TSX VENTURE:CHI) has completed the seven (7) hole diamond drill program of 1,366.80 m at the La Yegua porphyry copper-gold project in Peru. Geochemical results for five (5) of the seven (7) holes have been received of which results for Holes #1 and #3 were previously reported (see press release of February 20, 2008).

The copper and gold results for Holes #2, #4 and #5 also confirm the presence of low grade copper and anomalous gold throughout the mineralized crowded feldspar porphyry which was intersected in the three (3) holes. A summary of the results is as follows:

- Hole #2 intersected 189.6 m of 0.15% Cu and 0.03 g/t Au from 0 to 189.6m.

- Hole #4 intersected 150.0 m of 0.14 % Cu and 0.05 g/t Au from 20.0 to 170.0 m.

- Hole #5 intersected 56.0 m of 0.14% Cu and 0.06 g/t Au from 18.0 to 74.0 m and 162.7 m of 0.19 % Cu and 0.04 g/t Au from 76.0 to 238.7 m. Included in this was a 10.0 m interval of 0.48 % Cu and 0.07 g/t Au from 96.0 to 106.0 m.

The low grade copper and anomalous gold values in Holes #2, #4 and #5 together with, potassic alteration in the form of orthoclase flooding and secondary biotite within a crowded feldspar porphyry plus disseminated chalcopyrite mineralization, quartz veining and minor pyrite confirms a porphyry copper system is present at La Yegua albeit with low grade copper in the holes reported to date.

The drilling at La Yegua has been confined to a target area of approximately 600 m x 600 m, representing less than 1.0 % of the 4,100 hectare claim block. Results for Holes #6 and #7 are awaited and summary logs together with copper and gold values for Holes #2, #4 and #5 are posted on the Chapleau website www.chapleauresources.com.

La Yegua consists of 4,100 hectares of claims located only 20 km northeast of the Los Chancas porphyry copper deposit with a reported 4.4 billion pounds of copper and 771,600 oz of gold (200 million tonnes @ 1.0 % Cu, 0.12 g/t Au and 0.08 % Mo). Los Chancas is owned by Southern Copper Corporation.

On January 29, 2008, Chapleau and Bear Creek Exploration Company Ltd., a wholly owned subsidiary of Bear Creek Mining Corporation (TSX VENTURE:BCM), signed a Definitive Option Agreement on the La Yegua project whereby Chapleau can earn up to a 75 % interest in the project. The terms of the Option Agreement allow Chapleau to earn a 51% interest in the property by spending a total amount of US$2,775,000 in exploration over a four (4) year period and the granting of the equivalent of US$350,000 in Chapleau shares during the four (4) years. With the issuance of an additional 1,250,000 shares, Chapleau may increase the vested interest from 51% to 75%.

The first four (4) holes at La Yegua were drilled vertically and Hole #5 was drilled at an angle of 60 degrees with an azimuth of 050 degrees. Drill cores were taken at a minimum of 0.6 m and a maximum of 2.0 m intervals. All core samples (HQ and NQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company's main office in Lima, Peru for shipping directly to the ALS Chemex laboratory in Lima. The core samples were then crushed down to 2 mm, and a split of 250 g was taken and pulverized to better than 85% minus 200 mesh. Gold analysis was by fire assay of a 30 g sample and an atomic absorption finish. Copper and an additional 40 elements using aqua regia acid digestion were analyzed by Inductively Coupled Plasma (ICP). As part of the Company's QA/QC program duplicates, blanks and internationally recognized standards were included in the sample batches to check on assay precision and accuracy. ALS Chemex which is an ISO 9001:2000 and ISO 17025: 2005 registered laboratory also has a quality control program in place which includes standards and duplicates.

This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified person in compliance with National Instrument 43-101.

For technical information regarding this press release, kindly contact Ian Gendall at 604 669 8511.

BY ORDER OF THE BOARD OF DIRECTORS

CHAPLEAU RESOURCES LTD.

Ian Gendall, President

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

Contact Information