Chariot Resources Limited

Chariot Resources Limited

September 29, 2009 09:29 ET

Chariot Resources Update on ESIA

TORONTO, ONTARIO--(Marketwire - Sept. 29, 2009) - Chariot Resources Limited (TSX:CHD) announced that the Environmental and Social Impact Assessment (ESIA) for the Mina Justa Project has been essentially completed. Chariot President and CEO Ulli Rath and a delegation from Marcobre SAC, Chariot's 70% owned subsidiary are planning to meet senior officials of Peru's Ministry of Energy and Mines in the very near future to review the highlights of the ESIA before its is formally submitted to the government. Thereafter the ESIA will be subject to the new regulatory review process including public hearings.

"The completion and submission of the ESIA is another element in our strategy to add value to Mina Justa," said Ulli Rath. "We have said for some time that Chariot would undertake initiatives to enhance Mina Justa, and that we do not want the Project to slow down as a result of the process to sell the Company which is now well underway." said Ulli Rath, President and CEO.

"The submission of the ESIA and the associated commencement of the permitting process will move the Project closer to shovel-ready status."


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.

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