Chapleau Resources Ltd.
TSX VENTURE : CHI

Chapleau Resources Ltd.

February 28, 2008 11:29 ET

Chapleau Resources Ltd.: Company Closes Recently Announced Private Placement

CRANBROOK, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Chapleau Resources Ltd. (TSX VENTURE:CHI) -

Further to the Company's news release dated February 5, 2008, the Company is pleased to announce that it has received TSX Venture Exchange approval for and closed its private placement in respect to 940,000 units, at the price of $0.45 per unit, to raise proceeds of $423,000. All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units are subject to a hold period and may not be traded in British Columbia, Alberta or New Brunswick until June 27, 2008 except as permitted by the Securities Act (British Columbia, Alberta or New Brunswick) and the Rules made thereunder and the TSX Venture Exchange.

BY ORDER OF THE BOARD OF DIRECTORS OF CHAPLEAU RESOURCES LTD.

Eric Wiltzen, Director

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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