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GOLDEN CHALICE RESOURCES INC.
711 – 675 West
Hastings Street, Vancouver, B.C. V6B
1N2 (604) 685-2222 *Fax: (604) 685-3764
FOR IMMEDIATE
RELEASE
May 30, 2007
TSXV: GCR
www.goldenchaliceresources.com
GOLDEN CHALICE COMMENCES DRILLING ON
THE NEW LANGMUIR NICKEL DISCOVERY- correction
Golden Chalice
Resources Inc. is pleased to announce that the drill has been moved to start
drilling the new Nickel discovery on the Langmuir Property, southeast of Timmins, Ontario.
This phase of drilling will systematically test the updip, downdip and strike
extent in both directions of the wide zone intersected in Hole GCL07-6.
Hole GCL07-6
intersected 1.14% Nickel, 0.08% Copper, 0.02% Cobalt, 0.11 g/t Platinum and 0.26 g/t (as opposed to the previously misstated
0.26%) Palladium over 72.50 metres. This drill core intercept
also contains two separate heavily mineralized intersections of 2.23% Nickel
over 17.10 metres and 1.74% Nickel over 13.10 metres.
Bore hole
geophysics has been completed on the drill hole. The data is being
compiled by the geophysicist and will be used to help guide the drilling
program.
Peter
Caldbick, P.Geo., and Kevin
Montgomery, P.Geo., are the qualified people for the purposes of National
Instrument 43-101 for the Company's Langmuir Project. Project supervision
is by Kevin Montgomery and the
contents of this Press Release have been reviewed and approved by Peter Caldbick.
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.
GOLDEN CHALICE RESOURCES INC.
On behalf of the Board of Directors
Richard Hughes, Chairman
For Further Information Contact: Richard Hughes
Phone: (604) 685-2222 or visit Golden Chalice’s
web-site: www.goldenchaliceresources.com
to see Smartstox interview 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.