GOLDEN CHALICE RESOURCES INC.

711 – 675 West Hastings Street, Vancouver, B.C. V6B 1N2  (604) 685-2222 *Fax: (604) 685-3764

www.goldenchaliceresources.com

TSXV: GCR

FOR IMMEDIATE RELEASE                                                                                                                    

March 20, 2007                                                                                                                                          

CREEK PROPERTY ACQUIRED

Golden Chalice Resources Inc. (TSXV: GCR) is pleased to announce, subject to regulatory approval, the acquisition of a 100% interest in the Creek Property, located in Warden Township, Ontario.  Consideration for the Property consists of 275,000 shares over a period of 3 years.  There is a 3% net smelter return payable, of which two-thirds may be purchased for $2,000,000.  

The Creek property is adjacent to Golden Chalice’s Abitbi East Property. Golden Chalice is currently drilling on the Abitibi East Property for copper, zinc, lead, and silver mineralization in a geological environment similar to the Kidd Creek Deposit (117,547,000 tonnes @ 2.2% copper 7.25% zinc, 0.28% lead and 147.43 g/t silver).

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, Bathurst Camp in New Brunswick and the Burwash area in the Yukon.  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.