Chapleau Resources Ltd.
TSX VENTURE : CHI

Chapleau Resources Ltd.

May 14, 2008 13:39 ET

Chapleau Resources Ltd. Negotiates a $900,000 Private Placement

CRANBROOK, BRITISH COLUMBIA--(Marketwire - May 14, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Chapleau Resources Ltd. (TSX VENTURE:CHI) wishes to announce that it has negotiated a non-brokered private placement of 2,000,000 units at $0.45 for proceeds of $900,000.

Each unit consists of one share and one two-year warrant exercisable at $0.60 in year one and $1.00 in year two.

Proceeds will be used for continued exploration on the Company's Brazilian Gold Projects.

The proposed private placement is subject to TSX Venture Exchange approval.

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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