SOURCE: Golden Chalice Resources Inc.

May 14, 2008 10:21 ET

New Model for Langmuir Nickel Property

VANCOUVER, BC--(Marketwire - May 14, 2008) - Golden Chalice Resources Inc. (PINKSHEETS: GCRIF) (TSX-V: GCR) is pleased to announce that a diagram of large conductive bodies identified by new modelling of the Langmuir airborne VTEM survey data is now available on the Company website, www.goldenchaliceresources.com.

This modelling has detected numerous large conductive bodies at depth that have geophysical signatures similar to the discovery zone. The conductive bodies occur at depths of over 300 meters beneath the discovery zone. They can be traced for over 2 kilometres along strike. They have never been tested and occur well beneath any drilling to date. One of these deep conductive bodies is currently in the process of being drilled and the stratigraphy intersected at depth to date possesses strong similarities to the rocks hosting the Langmuir nickel discovery. This is the first drill hole to be drilled on these deep seated conductive bodies.

Management is extremely encouraged by the results to date and plan to continue to test these deep conductive targets with two drills. For additional information on the Langmuir Discovery, including a diagram of the nickel discovery zone and a cross section, please visit our web site. Peter Caldbick, P.Geo., and Kevin Montgomery, P.Geo. are the qualified persons for the purposes of National Instrument 43-101 for the Company's Langmuir Project.

About Golden Chalice

Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits. During the last few years the Company has strategically accumulated large land packages in existing mining or mineral districts such as the Abitibi in Ontario and 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.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

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

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