Chariot Resources Limited
TSX : CHD

January 04, 2007 08:00 ET

Chariot Resources Limited Announces Marcona Property Payment

TORONTO, ONTARIO--(CCNMatthews - Jan. 4, 2007) - Chariot Resources Limited (TSX:CHD) announced that on January 3, 2007, Marcobre S.A.C had made the second payment of $US13 million required pursuant to the acquisition agreement for the Marcona Copper Property. Marcobre S.A.C. is a corporation existing under the laws of Peru which is owned by Chariot Resources (70%) and its partners (30%) Korea Resources Corporation and LSNikko.

"We are delighted to announce that another major milestone in the development of this important copper project has been reached by Chariot and its partners," said Ulli Rath, Chariot President and CEO. "Following its 70% portion of the acquisition payment, Chariot has cash resources of C$28.8 million The Company, together with its partners, is proceeding with the Mina Justa definitive feasibility study, the environmental impact assessment study, and seeking to secure project debt financing as scheduled."

ON BEHALF OF THE BOARD OF DIRECTORS OF CHARIOT RESOURCES LIMITED.

"Ulli Rath", President & CEO

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The Toronto Stock Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release.

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