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 22, 2007                                                                                                                                    

LANGMUIR DRILLING COMMENCES

Golden Chalice Resources Inc. (TSXV: GCR) is pleased to announce that it has commenced drilling on the Langmuir nickel property located in Langmuir Township approximately 35 kilometers southeast of Timmins, Ontario.  Golden Chalice is targeting peridotitic komatiites which are favourable for hosting Kambalda style nickel mineralization.  These deposits represent attractive exploration targets as they can be very high grade nickel (+/- copper, cobalt, platinum group elements) deposits as exemplified by the type deposits in the western part of Australia.  The Kamabalda mining district has produced about 35 million tonnes of ore averaging 3% nickel from 25 mines since the 1960’s.   Kambalda style nickel deposits were first discovered in the Timmins mining camp at the Alexo open pit mine, approximately 45 kilometers northeast of Timmins, in 1907.

Langmuir Township is considered to be one of the most attractive areas for hosting Kambalda style nickel deposits.  The arcuate southwesterly trending series of peridotitic komatiitic flows that occur in Langmuir Township trend westerly into the adjoining Eldorado Township where Liberty Minerals is currently extracting nickel ore at the Redstone Mine.   In addition, the Langmuir drill targets lie approximately 6 kilometers southeast of the McWatters nickel deposit.  Golden Chalice has amassed a considerable land package in the south central portion of Langmuir and eastern portion of Eldorado Township that covers favourable peridotitic komatiites with known nickel occurrences.

Golden Chalice first explored this land package in the spring of 2005 with four short drill holes that tested a geophysical HLEM conductor in the south central part of Langmuir.  Drilling successfully intersected graphitic argillite with strong pyrrhotite mineralization hosted within a peridotitic komatiite that contains elevated background nickel values, up to 1800 ppm nickel occurring ubiquitously throughout the peridotites. The graphitic horizon was interpreted to be the possible source of sulphur for the precipitation of nickel sulphides which tend to “pool or puddle” within paleotopographic depressions at the base of these peridotitic flows. The short test holes, approximately 125 meters each, may have only skimmed the surface of these deeper deposit types.

Golden Chalice has since employed the state of the art airborne VTEM survey to identify additional attractive sulphide targets.  The Company has also engaged the services of Mr. Kevin Montgomery, M.S.c., P.Geo who has considerable experience in targeting and drilling Kambalda style targets such as the Alexo-Dundonald deposits.  Mr. Montgomery has undertaken an historical geological compilation of the area and integrated this data with the VTEM anomalies to facilitate the drill target selection process.  More than 15 priority targets have been initially identified for drilling.

The Property is accessible by road and is only 32 kilometers southeast of Xstrata’s Timmins metallurgical facility that recently commissioned a nickel circuit in late 2004 to process ore from the Montcalm deposit located approximately 80 km west of the metallurgical facility.

Peter Caldbick, PGeo, is the qualified person for the purposes of National Instrument 43-101 for the Company's Langmuir project.

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 the Smartstox Report in which Stanlie Hunt interviews Golden Chalice Resources Inc. President John Keating and Chairman Richard Hughes.

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.