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Re:   News Releases - Monday, November 16, 2009
      Golden Chalice Resources Provides Exploration Update on Portage
      Property, Bathurst, New Brunswick
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.. HISTORICAL DRILLING INTERSECTED 47 METERS OF 2.3% ZINC, FOLLOW-UP
DRILLING BEING PLANNED
 
.. BATHURST MINING CAMP HOSTS 45 VOLCANIC-SEDIMENT HOSTED MASSIVE
SULFIDE DEPOSITS AND NUMEROUS BASE METAL SHOWINGS

.. PORTAGE PROPERTY ONE OF THE LEAST EXPLORED PORTIONS OF THE BATHURST
CAMP

.. 600 LINE KM OF AIRBORNE VTEM SURVEYING HAS BEEN FLOWN WITH MORE THAN
50 ANOMALIES IDENTIFIED -- 6 HAVE BEEN TESTED, LOW GRADE SULFIDES HAVE
BEEN CORED ON THREE

Golden Chalice Resources Inc. (TSX-V: GCR) ("The Company") is pleased
to provide an exploration update on its Portage property, located in
the Bathurst district of New Brunswick.  The Bathurst base metal mining
district also includes the current producer Brunswick #12 mine one of
the largest zinc/lead/silver massive sulphide deposits in the world
(150 million tons grading approximately 12% Zn, 3,5% Pb, 3 oz. Ag, and
0.4% Cu/ton). 

Previous drilling on the Portage property intersected Zn-Pb-Cu-Ag
mineralization within and in the vicinity of the Portage Brook sulphide
zone.  Additional drilling is required on this zone where one drill
hole intersected 47 metres of 2.3% Zn.

A subsequent drill hole on an airborne anomaly over 1 km to the south
of the Portage zone intersected approximately 60 metres of massive to
disseminated sulphides in a chloritic alteration zone. This type of
mineralization elsewhere in the Bathurst district is generally only
encountered near significant base metal mineralization.

"The Company has flown more than 600 line kilometers of airborne VTEM
surveying which has led to the identification of over 50 anomalies.
Only six of these anomalies have been tested to date, three of which
have returned low grade sulphides in drill core," comments Company
President, John Keating.  "These VTEM anomalies, which are currently
being defined with a MMI geochemical sampling program, will be the
focus our next drill program."

The current work program consists of MMI geochemical sampling along the
favourable geological trends and over airborne electromagnetic
anomalies. Approximately 750 samples will be collected and submitted
for analyses.  Results of the geochemical survey will assist in anomaly
selection and target delineation for the 2010 field program. Diamond
drilling and trenching are planned.
Terry Mersereau, PGeo, is the qualified person for the purposes of
National Instrument 43-101 for the Company's Portage property.  The
contents of the press release have been reviewed and approved by Terry
Mersereau.

As a correction to a news release issued February 27, 2009, options
issued in April 2004 and November 2004 will remain at their issued
price and options issued between April 2005 and January 2008 which were
all priced above $0.20 will be re-priced to $0.20.  Options announced
on September 23, 2009 are priced at $0.14. 

The Company is pleased to announce that Intrinsic Minerals Ltd. has
earned its 6% joint venture interest and it has exercised its option to
sell this interest back to the Company through the issuance of
2,872,450 units.

The Portage Property

The Portage property is located approximately 1.5 km from Blue Note
Metals Inc.'s Restigouche massive sulphide deposit and approximately 20
km from their Caribou deposit.  The Portage claims comprise
approximately 12 km of favourable volcanic stratigraphy for hosting a
Bathurst type massive sulphide deposit.

About Golden Chalice

Along with its Portage property the Company's continues to focus on its
flagship Langmuir Project where 2007 drilling intersected 72 meters of
1.14% nickel. The Langmuir Project is easily accessible by road and is
near existing mining infrastructure in the Timmins camp, host to
numerous world-class gold and base metal deposits. The Company owns
100% of the property which covers more than 30 km of favorable
stratigraphy with potential for hosting Kambalda-style deposits.

CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com

AGORACOM Investor Relations: Email: GCR@agoracom.com
Website: http://www.agoracom.com/ir/goldenchalice  

Visit Golden Chalice's web-site: www.goldenchaliceresources.com to see
Smartstox interviews with Company Chairman and President.

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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Copyright (c) 2009 GOLDEN CHALICE RESOURCES INC. (GCR)  All rights
reserved.  For more information visit our website at
http://www.goldenchaliceresources.com/ or send
mailto:info@goldenchaliceresources.com
Message sent on Mon Nov 16, 2009 at 9:58:26 AM Pacific Time
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