Chariot Resources Limited
TSX : CHD

October 05, 2005 10:11 ET

Chariot Resources Limited: Marcona Copper Project Resource Estimate Update

TORONTO, ONTARIO--(CCNMatthews - Oct. 5, 2005) - Chariot Resources Limited (TSX:CHD) wishes to advise that the updated resource estimate for the Marcona Copper Project currently being prepared by the company and its independent consultants is scheduled to be released during the third week of October.

The updated resource estimate will be completed to the standards of NI 43-101 and independently verified by Snowden Group, Vancouver.

The new mineral resource estimate will be based on results from a total of 70,212 metres of drilling of which 39,740 metres was completed by Chariot during the past six months and 30,972 metres of drilling previously completed by Rio Tinto.

Chariot Resources Limited (TSX:CHD) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Marcona is scheduled to achieve mid-tier copper producer status by 2009.

Additional detail about Chariot's projects can be viewed on the Company's website at www.chariotresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF

CHARIOT RESOURCES LIMITED.

Alex Black, Chairman, Executive Vice President

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.

Contact Information

  • Chariot Resources Limited - Toronto, Canada Office
    Alex Black
    Chairman, Exec. VP
    Cell: (647) 287-4980
    alexb@chariotresources.com
    or
    Chariot Resources Limited - Toronto, Canada Office
    Ulli Rath
    President & CEO
    Cell: (416) 270-4481
    ullir@chariotresources.com
    or
    Chariot Resources Limited - Lima, Peru Office
    Bob Baxter
    Director, Exec. VP
    Cell: +51-1-9790 3000
    bobb@chariotresources.com
    or
    Chariot Resources Limited - Lima, Peru Office
    Jiron Crane 102, Urb. Jacaranda, San Borja
    Lima, 41 Peru
    +51-1-436-9127
    +51-1-436-9129 (FAX)
    www.chariotresources.com