Chapleau Resources Ltd.
TSX VENTURE : CHI

Chapleau Resources Ltd.

May 09, 2008 14:23 ET

Chapleau Resources Intersects 11.0 m of 0.62 % Copper and 0.10 g/t Gold in Hole #7 on the La Yegua Copper-Gold Porphyry Project in Peru

CRANBROOK, BRITISH COLUMBIA--(Marketwire - May 9, 2008) - Chapleau Resources Ltd. (TSX VENTURE:CHI) intersects further encouraging copper mineralization at the La Yegua porphyry copper-gold project in Peru. Geochemical results for the last two holes, #6 and #7, have been received. Hole #7, drilled approximately 315.0 m east of Hole #1, intersected 114.0 m of 0.24 % copper with 0.03 g/t gold from 18.0 to 134.0 m. Included in the 114.0 m of copper mineralization was an interval of 11.0 m of 0.62 % copper and 0.10 g/t gold from 75.0 to 86.0 m. A further 27.0 m interval of 0.26 % copper and 0.04 g/t gold was intersected from 134.0 to 161.0 m in Hole #7. This hole was drilled across the valley and 315.0 m east of Hole #1 and in an area with a molybdenum anomaly in rock chips of 33 to 37 ppm Mo (see maps on website: www.chapleauresources.com/projectmaps.php?ID=15). This intersection is very encouraging as this eastern side of the valley has further molybdenum anomalies in rock chips (45 to 251 ppm Mo) together with evidence of porphyry copper alteration (potassic) and showings of copper oxides which have not been drilled. Hole #6 drilled 133.0 m south of Hole #1 drilled low grade copper mineralization with an interval of 124.0 m of 0.08 % copper from 32.0 to 156.0 m. Summary logs with gold and copper results for Holes #6 and #7 are posted on the Chapleau website: http://www.chapleauresources.com/content/Projects/resultsddh67may0808.pdf.

This recent copper intersection in Hole #7 opens up the eastern and southeastern side of the La Yegua property for further exploration. Field crews will now be mobilized to extend the mapping and sampling in the eastern and southeastern zones and this fieldwork is expected to continue through June 2008. Further exploration will also be conducted on the remainder of the 4,100 ha concession and in particular an area 4.0 to 5.0 km to the southwest of the current drilling, with gold and copper veins. The gold and copper veins were previously recognized by Bear Creek in 2004 and were mapped over an area of approximately 1.9 km2. Strongly anomalous gold in rock samples were reported by Bear Creek from this southwestern part of the La Yegua concession with grades of between 0.20 g/t to 8.65 g/t gold, together with copper values of up to 2.31 % Cu.

La Yegua consists of 4,100 ha of claims located only 20.0 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 year period and the granting of the equivalent of US$350,000 in Chapleau shares during the four years. With the issuance of an additional 1,250,000 shares, Chapleau may increase the vested interest from 51% to 75%.

The first four holes at La Yegua were drilled vertically and Holes #5 and #6 were drilled at an angle of 60 degrees with an azimuth of 050 degrees. Hole #7 was drilled at an angle of 45 degrees with an azimuth of 060 degrees. Drill cores were taken at a minimum of 0.4 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.

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