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      Golden Chalice Resources: Abitibi East Property to Receive
      $344,694 in Exploration
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- PRIVATE COMPANY TO INCUR $344,694 IN EXPENDITURES ON ABITIBI EAST

- CLAIMS ADJACENT TO EXPLOR RESOURCES 2009 GOLD DISCOVERY OF 142.26
G/TONNE AU OVER 3.0 METERS

Golden Chalice Resources Inc. (TSX-V: GCR) ("GCR") is pleased to
announce, subject to regulatory approval, that it has entered into an
agreement with Intrinsic Minerals Ltd. ("Intrinsic") to complete
drilling and/or other exploration activities on GCR's Abitibi East
Property (the 'Property') in Ontario.

The Property is located northeast of Timmins and surrounds Explor
Resources' Eastford Lake Gold Project on three sides. GCR recently
announced it has commenced early-stage exploration work on the Property
and plans to have these new funds used to expand such program, which
will include a summer trenching and/or drilling program.

In June of 2008 while testing a 600 meter magnetic low Explor Resources
intersected 12.7 g/t gold over 7.5 meters with the lower 4 meters
containing visible gold. On February 9, 2009 Explor Resources reported
intersecting 142 g/t gold over 3.0 meters and 45.45 g/t gold over 3.3
meters. This area is known as the Lynx Gold Zone and is immediately
north of the Property.

Drilling by Explor Resources identified a belt of carbonatized
ultramafic and mafic volcanics intruded by a number of porphyries as
well as a strong structural trend in the area. It is believed that this
structural zone, in combination with these altered porphyries, were
crucial in the precipitation of hydrothermal gold bearing fluids that
occur within ultramafic intrusives and volcanics.

These same ultramafic intrusives and volcanics trend on to GCR's
Property. In addition, porphyry intrusives that are favourable for gold
mineralization also trend toward GCR's property. GCR plans to focus
gold exploration on an area where the various geological trends
intersect on the Abitibi East Property.

To date, limited work has been done by GCR to examine the gold
potential of these ultramafic intrusives and volcanics as work has been
focused on the Property's Volcanogenic Massive Sulphide ("VMS")
potential.

The entire Property has been flown by the VTEM airborne geophysical
survey with numerous airborne anomalies and magnetic trends being
identified. A program of ground truthing of these VTEM anomalies and
reconnaissance mapping is ongoing. In addition, a program of
linecutting with Mag-VLF surveys is being undertaken to delineate gold
targets along the belt of ultramafics which will be trenched or drilled
this summer.

The Agreement requires Intrinsic to incur $344,694 in expenditures on
the Property which will qualify as flow-through expenditures. In
consideration for the flow-through expenditures by Intrinsic, GCR shall
grant Intrinsic a 6% interest in the Property, or such proportionate
interest based on the required expenditures, subject to a call/put
option whereby GCR will re-acquire that interest.

Pursuant to the Agreement, Intrinsic is required to expend $344,694 in
flow-through expenditures prior to September 15, 2009. Upon Intrinsic
spending $344,694, either party has the right, at any time, to have GCR
acquire Intrinsic's interest in the Property by GCR issuing 2,872,450
units ("GCR Units"). Each GCR Unit will consist of one share of GCR and
one warrant (each warrant entitling Intrinsic to acquire an additional
share of GCR for a period of 24 months from the date of issue at an
exercise price of $0.15 per share during the first 12 months and $0.20
thereafter). In the event Intrinsic fails to expend $344,694 their
interest in the Property shall be adjusted proportionately, including
the put/call option. Upon exercise of the put/call option GCR shall
have an undivided 100% interest in the Property, subject to any
existing underlying agreements. A finders fee will be paid subject to
regulatory approval.

"This is an exciting new gold discovery for the Timmins Camp. The
proximity and structural nature of the discovery makes the Company's
Abitibi East Property prime real estate to explore for the possible
expansion of the mineralized zone." comments GCR president John
Keating.

GCR is in the process of completing a compilation of new and existing
data. A map of the Property with trends based on new and previously
identified mineralization will be available on GCR's website within the
next month.

The contents of this news release have been reviewed and approved by
Peter Caldbick, a Qualified Person for the purposes of National
Instrument 43-101.

About Intrinsic Minerals Ltd.
Intrinsic Minerals Limited is a private Canadian corporation
incorporated in May 2007 for the purpose of acquiring highly
prospective mineral properties in Canada. Intrinsic owns a 100%
interest in 30 claims known as Simms Ridge in the Humber Zone of the
Appalachian Orogen in northern Newfoundland. The Simms Ridge property
is the location of a past producing gold mine and surface testing in
June 2009 resulted in high gold values including two gold samples
assaying in excess of 100,000 ppb. Intrinsic Minerals also owns a 100%
interest in a 450 claim prospective nickel property in the Kingurutik
area of Northern Labrador.

About Golden Chalice
Along with its Abitibi East Property, the Company's continues to be
focused 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.

Golden Chalice has assembled a portfolio of properties in established
mining and mineral districts, notably the Abitibi in Ontario, the
Bathurst camp in New Brunswick, and a joint-venture project in Nevada.

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

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
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