SOURCE: Golden Chalice Resources Inc.

June 08, 2007 18:58 ET

Golden Chalice Resources -- Shareholder Rights Plan

VANCOUVER, BC--(Marketwire - June 8, 2007) - Golden Chalice Resources Inc. (PINKSHEETS: GCRIF) (TSX-V: GCR) announces that it has implemented a Shareholder Rights Plan, subject to Exchange approval. In addition, the Rights Plan will be presented at the next shareholders meeting for approval. The Shareholder Rights Plan is not being implemented in response to or in contemplation of any known takeover bid or other similar transaction. The Rights Plan is designed to assist in maximizing shareholder value in the face of a takeover bid, to encourage the fair and equal treatment of all shareholders and to provide the board of directors and shareholders with additional time to fully consider any unsolicited takeover bid.

The Rights Plan is similar to those adopted by other Canadian listed companies, and is consistent with corporate practice. The Rights Plan is not intended to prevent takeover bids. As long as a bid meets certain requirements intended to protect the interests of all shareholders, called a permitted bid, the provisions of the Rights Plan will not be invoked. Details of the Rights Plan will be included in the Company's next Management Information Circular.

The Company also announces that it has granted 530,000 options to directors and officers of the Company and 958,000 options to employees and consultants at an exercise price of $3.25 per share for a period of five years. The options are subject to a four-month hold period expiring October 9, 2007.

About Golden Chalice

Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum, palladium and diamond deposits. During the last couple of years the Company has strategically accumulated large land packages in existing mining or mineral districts such as the Abitibi in Ontario and in the Bathurst Camp in New Brunswick. These properties have existing infrastructure and are often within road access to metallurgical facilities to process mined ores. Details relating to exploration activities on specific properties will be announced during the coming months as the work program is implemented.

On behalf of the Board of Directors

Richard W. Hughes, Chairman

For Further Information Contact:

Richard Hughes
Phone: (604) 685-2222 or visit Golden Chalice's website: to see Smartstox interviews
with Company Chairman and President.
From time to time Golden Chalice raises exploration funds from the issue of flow-through shares. This latest discovery was made possible through flow-through financing which was arranged, in part, with the MineralFields Group.

This document contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward-looking statements.

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

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