NEIGHBOUR EXPLOR RESOURCES INTERSECTS 142 G/TONNE OVER 3 METERS ON ADJACENT CLAIMS

- LARGEST LAND HOLDER IN IMMEDIATE AREA

Golden Chalice Resources (TSX VENTURE:GCR) (the 'Company') is pleased to announce it has commenced early-stage exploration work on its Abitibi East Property. The property is located northeast of Timmins and surrounds Explor Resources' Eastford Lake Gold Project on three sides.

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

A significant portion of this belt of ultramafic intrusives trends on to Golden Chalice's Abitibi East ground.

The entire property has been flown by Geotech and numerous VTEM airborne anomalies have been identified. A program of ground truthing the VTEM anomalies and reconnaissance mapping is currently underway. In addition, a program of linecutting and Mag-VLF has also started to delineate potential gold targets along the belt of ultramafics for follow-up by trenching and/or drilling.

All other recent work on Abitibi East has focused on the VMS potential, which the Company will be providing an update on in the near future. A map of the property with potential mineral trends is currently being produced and will soon be available on the Company website.

Peter Caldbick, P.Geo. has reviewed and approved the press release. Mr. Caldbick is the qualified person for the purposes of National Instrument 43-101 for the Company's Abitibi East Project.

About Golden Chalice

Along with its Abitibi East Property, the Company's continues to be focused on its flagship Langmuir Project. 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.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION:

Corporate Inquiries:
Golden Chalice Resources
Kevin Hull, Investor Relations
(604) 685-2222
info@goldenchaliceresources.com

INFILL DRILLING HIGHLIGHTS:

Golden Chalice Management has taken the proactive stance to address certain issues raised by posters attempting to create misconceptions about the Langmuir Deposit and its mineralization. Pasted below is a short address that outlines in brief the allegations and GCR's response. Please take the time to read the statement that addresses the issue with respect to misconceptions that were created by Reptillian and Driller 01.

Please refrain form commenting directly on the board; any questions that arise out of this statement can be sent to GCR@agoracom.com and will be systematically answered via GCR management directly to the e-mail address provided.

Golden Chalice appreciates your continued support and belief in the Langmuir Discovery.

Regards,

Agoracom IR

"The statements made by Reptillian and Driller01 boil down to just a couple of points:

• The Langmuir is not a Kambalda style deposit
• The VTEM targets identified are graphitic
  • Retrieved core is largely graphitic
• The drill program is having too many misses
• The Langmuir is not of sufficient size to host large ore bodies

The Kambalda characteristics of the Langmuir property have been noted by parties other than Golden Chalice and confirmed by consultants.

As more information has become available to our geologists the similarities to the Kambalda region of Australia have become stronger. One such similarity can be found in the nature of the Komatiites.

An release from the Company Emu Nickel, which has properties in the Kambalda region, states that “Komatiites of similar age, composition, and thickness host world-class massive and disseminated nickel sulphide deposits at Kambalda in Western Australia, and in southern Africa and Canada.”

The presence of graphite in the area is consistent with nickel discoveries all over the world. Nickel in suspension utilizes sulphur in order to precipitate and drop out of superheated flows. This sulphur is taken from accompanying mineralization often in the form of iron or graphite. Thus it is expected that drill core will, at times, include one of these minerals. Our drilling to this point has not intersected a ratio of graphite disproportionate to that being intersected by exploration companies the world over.

Regarding the size of the Kambalda region of Australia relative to the Langmuir property we would point out that 12 nickel deposits occur within an ultramafic flow unit of approximately 8 km by 4 km in area in Australia. In comparison, the ultramafic flow package hosted by Langmuir is over 35 km long and up-to 4 km wide. We can state with confidence that the area covered by the Langmuir property is certainly large enough.

Finally, with respect to the success rate of our drilling program there seems to be some misconception on the part of some investors. Two holes in ten of the exploratory holes drilled found our W2 & W3 Discoveries. Over the past year with infill drilling on the W4 Deposit 20 out of 23 holes intersected material nickel mineralization. This ratio is phenomenal for our industry and should be recognized as a testament to the quality of our exploration crew and their diligent scientific work."

Hole GCL09-10, completed in the W2 Discovery area, returned 1.72% nickel over 3.0 meters from 303.50 to 306.50 meters within a broader mineralized channel flow grading 0.55% nickel over 20.10 meters from 287.30 to 307.40 meters.

For a map and diagram including drill highlights from the Company’s Langmuir project please click on the link: http://www.goldenchaliceresources.co...

The mineralization was found approximately 25 meters east and up-dip of a previously reported intersection grading 3.34% nickel over 0.9 meters from 373.50 to 374.40 meters. These previously released results represent the first new nickel mineralization on strike with the Langmuir Discovery Zone. The W2 Zone is located 1.5 km from the original W4 Discovery Zone where initial drilling in May of 2007 intersected 1.14% nickel over 72.5 meters.

The original drill target in the W2 area was a deep VTEM conductor identified using computer modeling for locating “Kambalda-style” deposits in conjunction with conventional MMI soil anomalies. This deposit type takes its name from the Kambalda Nickel District of Australia, where at least 36 sulphide bodies host collective reserves of 48 million tonnes at 3.6% nickel and 0.25% copper. Management is encouraged by the latest results as the mineralization within the channel flow horizon consists of blebby, patchy and fracture-filled pyrrhotite and pentlandite, consistent with Kambalda-style nickel mineralization. The mineralized channel flow is also similar to that of the Langmuir Discovery Zone.

Company President, John Keating, states, “We are extremely encouraged by the success we have had to date in the drilling of VTEM targets defined using the Kambalda model together with MMI soil anomalies. The full potential of the project remains unknown as the Company’s significant land position contains numerous high-priority targets yet to be tested.”

The latest W2 drilling further validates the theory of a Kambalda-type district with potential for multiple nickel deposits over a relatively small area of the Langmuir Property, as well as the validity of the Company’s deep target conductivity model derived from the VTEM data. This new modeling has detected other large conductive bodies at depth with geophysical signatures similar to the known mineralized zone. The modeling also shows that the W2 discovery and nearby 2007 W4 Discovery Zone are still largely untested at depth relative to their geophysical signatures.

Along with testing of the new W2 discovery and the recently defined geophysical and geochemical targets, the Company will continue exploration on its most advanced target, the Langmuir Discovery Zone. Recent infill drilling as high as 2.75% Ni over 24.4 meters has confirmed the continuity of mineralization along strike of this zone (see press release, Feb. 18/09). These and other results will be used toward building an initial NI 43-101 compliant resource estimate.

The road-accessible Langmuir Property covers more than 30 km of favorable stratigraphy with potential for hosting Kambalda-style deposits. Another eight holes have been completed to date for a total of 3,445 meters testing several VTEM and MMI targets. Anomalous nickel values were found about 120 meters northwest of the W2 discovery below significant surface MMI responses in drill holes GCL09-6 and GCL09-7.

Peter Caldbick, P.Geo. has reviewed and approved the press release and Kevin Montgomery, P.Geo. is the project supervisor. Mr. Caldbick and Mr. Montgomery are the qualified persons for the purposes of National Instrument 43-101 for the Company's Langmuir Project.

About Golden Chalice

The Company’s main focus continues to be its flagship Langmuir Project. 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.

Golden Chalice has other promising projects near the Timmins mining camp of Ontario, including the Radio Hill property and the Abitibi East Property, which covers similar host rocks as the Kidd Creek deposit, 85 km to the west. The Company 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: Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com

Visit Golden Chalice’s web-site: www.goldenchaliceresources.com to see Smartstox interviews with Company Chairman Richard Hughes.

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

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

ANALYSIS-Third gold sales pact to plant flag of support

Golden Chalice Resources Inc. is pleased to provide an update of the work being done on its wholly owned flagship Langmuir property located approximately 35 km southeast of Timmins, Ontario.

The Company recently drill-tested a number of other VTEM targets on the property which are only accessible for a short period due to swamp-like conditions and spring break-up. The drill has now returned to the W2 Discovery Zone, the drill target again being the deep-seated VTEM conductors (Figure 1.) previously identified using a computer modeling program for locating Kambalda-style nickel deposits. This deposit type takes its name from the Kambalda Nickel District of Australia, where at least 36 separate sulphide bodies host collective reserves of 48 million tonnes at 3.6% nickel and 0.25% copper.

"We are extremely encouraged by the new W2 discovery as it further confirms our Kambalda nickel model, being one and a half kilometers away from the 2007 Discovery Zone. The drill is now testing the W2 zone, guided by data from both the deep-target model as well as recent down-hole geophysics from the discovery hole," comments Company Chairman, Richard Hughes.

Management was pleased to report on February 27, 2009, that their first hole (W2) of the 2009 drilling program intersected a massive sulphide zone. The drill target in this case was a deep VTEM conductor identified using a computer modeling program for locating Kambalda-style deposits. Nickel grades of 3.34% nickel (Ni) over 0.9 meters from 373.50 to 374.40 meters which included a 20-cm massive sulphide section interval grading 11.35% nickel, 0.6% copper and 1.46 g/t combined platinum/palladium were encountered. This hole is on strike and located approximately 1.5 km east of the Langmuir Discovery Zone where initial drilling in May of 2007 had intersected 1.14% nickel over 72.5 meters.

Along with testing of the new nickel discovery and the recently defined geophysical and geochemical targets, Golden Chalice continues to test its most advanced target, the Langmuir Discovery Zone. Recent infill drilling, as high as 3.79% nickel over 14 meters, has confirmed the continuity of mineralization along strike of this zone (see press release, Feb. 18/09). These and other results will be used toward building an initial NI 43-101 compliant resource estimate.

Golden Chalice has other promising projects near the Timmins mining camp of Ontario, including the Radio Hill property, which hosts an historical non-compliant NI 43-101 resource of over 326 million tons grading 25.58% soluble iron, and the Abitibi East Property, which covers similar host rocks as the Kidd Creek deposit, 85 km to the west.

To view the deep-target conductivity model please visit: http://www.goldenchaliceresources.co...

About Golden Chalice

The Company's main focus continues to be its flagship Langmuir Project. 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.

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:

Kevin Hull or Alan Campbell, 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/goldencha...

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Richard Hughes, Chairman of the Board of the Hughes Group of Companies, recently recorded an interview with Agoracom discussing Golden Chalices accomplishments.

The interview can be accessed via the following link

Regards,

AGORACOM IR

Golden Chalice Resources Inc. (TSX-V: GCR) is pleased to announce that it has arranged a private placement of up to 1,000,000 flow-through or non-flow-through units at $0.11 per unit, for total proceeds of $110,000. Each unit will consist of either one flow through or one non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.15. In accordance with Exchange policies, finders’ fees may be paid on a portion of the funds raised. The private placement is subject to regulatory approval.

The proceeds of the private placement will be used for exploration on the Company’s Ontario properties and for general working capital.

The Company also announces that it has closed the fourth and final tranche of its previously announced private placement, first announced on November 20, 2008. The fourth and final closing consisted of 1,530,000 units at a price of $0.10 per Unit for aggregate proceeds of $153,000. Each unit consisted of one flow through common share or non-flow through common share and one non flow through non transferable share purchase warrant. Each warrant entitled the holder to acquire one additional common share of the Company for a period of two years from the date of closing at a price of $0.15. The securities issued under the private placement are subject to a four month hold period. The Company has paid finder’s fees of $6,240 in connection with the final tranche of this private placement. The Company intends to use the proceeds of the offering for exploration on the Company’s Ontario properties and for general working capital.

The Company also announces the appointment of Diana Mark as Assistant Corporate Secretary.

About Golden Chalice

The Company’s flagship project continues to be the road-accessible Langmuir Property, about 35 kilometers southeast of the Timmins mining camp, Ontario. Ongoing exploration is focused on further testing a nickel discovery where drilling in early 2007 intersected 72.5 meters grading 1.14%, capturing broad industry attention.

Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium 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/goldencha...

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the attached article titled Russia Backs Return to Gold Standard

By Ambrose Evans-Pritchard
Telegraph.co.uk
Monday, March 30, 2009

"Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system.

Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund".......

Please Click here to view the Article in its Entirety

Sincerely,
AGORACOM IR

DAVID PARKINSON

Globe and Mail

March 20, 2009

In 1897, at the height of a major U.S. recession and banking crisis, a gold discovery on the Klondike River in Yukon Territory triggered one of the biggest gold rushes ever seen. Now, more than a century later, history is – sort of – repeating itself.

No, the world's downtrodden aren't beating a frenzied path to a harsh, remote swath of the Canadian north this time around. But the 2009 recession and banking crisis has set off a rush to invest in gold and other precious metals at unprecedented levels – a move that has tightened the global supply/demand picture and helped push prices to record highs. And increasingly, they are opting for the tangible comfort of physical gold – actual gold bars and coins that they can cling to in troubled times.

“When the banking crisis hit [last fall], we saw an avalanche of demand,” said James DiGeorgia, a Florida-based coin and precious metals dealer and editor of the Gold & Energy Advisor newsletter. “People are scared to death that all this debt [being taken on by governments] is going to debase the [U.S.] dollar and other currencies around the world.”.....

Regards,

AGORACOM Investor Relations

Please Click Here to View the Article in it's entirety

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the attached article titled “Hedge Fund Makes Headlong Rush into Gold.”

As the economic meltdown has worsened in recent weeks and months, firms such as Eton Park Capital Management LP, Greenlight Capital Inc. and Hayman Advisors LP have been boosting their exposure to the yellow metal. The investment funds are turning to gold as central banks around the world continue to print money in hopes of stimulating economic growth.

“As the world deals with the global economic crisis, the value of gold, as the only true ‘hard currency,' is coming to the fore as evidenced by the investment choices of some of the world's most seasoned investors,” AngloGold Ashanti Ltd. chief executive officer Mark Cutifani said yesterday.

Regards,

AGORACOM Investor Relations

Please click here to view article in its entirety.

Golden Chalice Resources Inc. (GCR - TSX Venture, GCRIF - OTCBB_Pink_Sheets), has completed an extensive evaluation of its property portfolio and is currently taking steps to conserve and focus its working capital and resources on key projects. More than half of the Company's outstanding option agreements have been favourably renegotiated.

The Company has also completed rigorous property evaluations resulting in the termination of eight projects: Coulson, Cheavers, Dokis, Farr, Kidd, Kimberley, Meteor Lake and Tower. These and other measures will better position the Company to focus its resources on advanced assets such as the Langmuir Nickel Project near Timmins, Ontario.

Golden Chalice Chairman Richard Hughes comments, "Current market conditions are providing us with the needed leverage to renegotiate a number of key agreements. Adding to this the termination of eight of these agreements eliminates future funding commitments and leaves the company in a position to conserve working capital and focus on more advanced projects, specifically the Langmuir. We look forward to 2009 and are working aggressively to best position the Company to capitalize on opportunities as they arise."

Ongoing exploration at the flagship Langmuir Project is focused on further testing a nickel discovery where initial drilling intersected 72.5 meters grading 1.14% nickel. The latest results from a winter-drilling program include 3.79% nickel over 14 meters within a larger intersect of 2.75% nickel over a drilled width of 24.4 meters. Ongoing drilling will continue to test the Discovery Zone and deep-seated VTEM conductors identified by previous airborne geophysical surveys.

Lynn Evoy has been appointed a Director of Golden Chalice, effective November 20, 2008. He is also a Abitibi Mining Corp., Amador Gold Corp., Chalice Diamond Corp. and Klondike Gold Corp. Lynn brings to the company over thirty years experience in the exploration mining and investment industry.

Subject to TSX, regulatory and warrant holder approvals, Golden Chalice plans to re-price options and warrants as follows. Options that expire from April 2009 through January 2013 (currently priced between $0.12 and $0.80) will be lowered to $0.10. Warrants that expire on March 28, 2009 will be re-priced to $0.15, and warrants that expire in mid-November of 2009 will be re-priced to $0.20. The warrant terms will not change.

About Golden Chalice

The Company's main focus continues to be its flagship Langmuir Project. The Langmuir Project is accessible by road and is near existing mining infrastructure in the Timmins camp, host to numerous world-class gold and base metal 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: Kevin Hull or Alan Campbell, 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/goldencha...

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Source: Golden Chalice Resources Inc. (TSX-V: GCR http://www.goldenchaliceresources.com/

Golden Chalice will be at the PDAC as part of the Hughes Exploration Group, booth details are provided below:

Golden Chalice Resources Inc. (CDNX:GCR.V - News) (Hughes Group of Companies)

Booth 2545

Official Shareholder Community: http://agoracom.com/ir/GoldenChalice

Member of the Hughes Exploration Group, the Langmuir Nickel Property assayed 72.5 meters grading 1.14% Nickel and is open at depth.

Regards,

Agoracom IR

The first hole of the 2009 drilling program has intersected a massive sulphide zone with high-grade nickel about 1.5 km east of the Langmuir Discovery Zone where initial drilling in May of 2007 had intersected 1.14% nickel over 72.5 meters. (See Figure 2.)

• This first hole of the 2009 drill program intersected 3.34% nickel (Ni) over 0.9 meters from 373.50 to 374.40 meters. This interval includes a 20-cm massive sulphide section grading 11.35% nickel, 0.6% copper and 1.46 g/t combined platinum/palladium.

The newly intersected mineralization occurs approximately 300 metres vertically below surface within komatiitic volcanics. The intersected sulphide zone is similar in style to the mineralization occurring within or proximal to the Langmuir Discovery Zone. The drill target was a deep VTEM conductor identified using a computer modeling program for locating Kambalda-style deposits.

Management is extremely encouraged by these initial drill results as they represent the first new nickel discovery on strike with the Langmuir Discovery Zone. The results also validate the theory of a Kambalda-type district with potential for multiple nickel deposits over a relatively small area of the large Langmuir Property. This deposit type takes its name from the Kambalda nickel district of Australia, where at least 36 sulphide bodies host collective reserves of 48 million tonnes at 3.6% nickel and 0.25% copper.

A geophysical (borehole time domain electromagnetic) survey done down the first hole of the 2009 program has identified a significant nearby off-hole electromagnetic (EM) response. This EM response may represent a thickening in the nickel sulphide zone on strike with the drill hole. The drill hole also occurs in proximity to a cluster of VTEM conductors and strong nickel Mobile Metal Ion (MMI) responses with geochemical signatures similar to the Langmuir Discovery Zone that are yet to be tested. The Company plans to drill this off-hole response as well as the MMI responses.

The road-accessible Langmuir Property covers more than 30 km of favorable stratigraphy with potential to host Kambalda-style nickel deposits, which usually occur as bodies of net-textured to massive sulphides that can be cylindrical, podiform, or in rare instances, tabular. The bodies may be tens to two hundred meters in strike length, meters to tens of meters thick, and tens to hundreds of meters down-dip in size. The bodies may be stacked and typically occur in clusters as seen in the Kambalda district.

Along with testing of the new nickel discovery and the recently defined geophysical and geochemical targets, Golden Chalice will continue to test its most advanced target, the Langmuir Discovery Zone. Recent infill drilling, as high as 3.79% nickel over 14 meters, has confirmed the continuity of mineralization along strike of this zone (see press release, Feb. 18/09). These and other results will be used toward building an initial NI 43-101 compliant resource estimate.

Golden Chalice has other promising projects near the Timmins mining camp of Ontario, including the Radio Hill property, which hosts an historical non-compliant NI 43-101 resource of over 326 million tons grading 25.58% soluble iron, and the Abitibi East Property, which covers similar host rocks as the Kidd Creek deposit, 85 km to the west.

Peter Caldbick, P.Geo. has reviewed and approved the press release and Kevin Montgomery, P.Geo. is the project supervisor. Mr. Caldbick and Mr. Montgomery are the qualified persons for the purposes of National Instrument 43-101 for the Company's Langmuir Project.

About Golden Chalice

The Company’s main focus continues to be its flagship Langmuir Project. 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. Ongoing exploration is focused on further testing a nickel discovery where drilling in early 2007 intersected 72.5 meters grading 1.14%, capturing broad industry attention.

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: Kevin Hull or Alan Campbell, 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/goldencha...

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Golden Chalice Resources Intersects 2.75% Nickel Over 24.4 Meters and Begins 2009 Drill Program on Deeper Conductivity VTEM Targets

Golden Chalice Resources (TSX-V: GCR) (the “Company”) is pleased to announce the latest results from the 2008 infill drill program which focused on the Langmuir Nickel Discovery on its wholly owned Langmuir Property, 35 kilometers southeast of Timmins, Ontario. The infill drill program is further defining the Langmuir Nickel Zone discovered in May of 2007, and is part of an ongoing exploration program which includes drilling of deep-seated VTEM conductors identified by recent airborne geophysical surveys. Drilling has begun on a number of VTEM targets and/or MMI soil geochemistry anomalies.

Drill hole GCL08-69 intersected 2.75% Nickel over a drilled width of 24.4 meters from 34.6 to 59.0 meters including a narrower intercept of 3.79% Nickel over a drilled width of 14 meters from 41.0 to 55.0 meters. This intercept occurs approximately 115 meters west of drill hole GCL07-06 which intersected 1.14% Nickel over 72.50 meters (reported in May 2007) and 30 meters vertically below the bedrock overburden interface.

Drill hole GCL08-68, drilled above hole GCL08-69 intersected 2.90% Nickel over a drilled width of 2.80 meters from 33.6 to 36.4 meters and 0.84% Nickel over 9.0 meters drilled width from 43.4 to 52.4 meters. The upper intercept is approximately 12 meters vertically below the overburden bedrock interface.

An additional drill hole GC08-67 intersected 1.51% Nickel over a drilled width of 9.75 meters approximately 70 meters west of drill hole GC07-06 and 20 meters vertically below the bedrock overburden interface.

Management is pleased with the results of the 2008 Langmuir Discovery infill drilling. Drilling has confirmed the near surface presence and strong continuity of nickel mineralization along strike of the original discovery drill hole. The A and B Zone mineralization has been confirmed to a vertical depth of 250 meters below surface and is still open to depth.

Current drilling will test for additional new nickel mineralized zones on part of the Langmuir property. Modeling of the airborne geophysical survey and results from a Metal Mobile Ion (MMI) soil geochemical survey suggest the potential for additional new nickel and platinum group metal (PGM) zones. These new targets occur at depth or on strike with the Langmuir discovery.

The results of the 2008 infill drilling are tabulated below with recent drill results highlighted.

Please click here for link to Drill Assays

A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory, Expert Laboratory of Rouyn-Noranda, Quebec, and the other half retained for future reference. Core samples are routinely analyzed for nickel, copper and cobalt by aqua regia digestion with atomic absorption techniques. Any analyses greater than 5,000 ppm are re-analyzed using total acid digestion and atomic absorption techniques.

Peter Caldbick, P.Geo., and Kevin Montgomery, P.Geo., are the qualified persons for the purposes of National Instrument 43-101 for the Company's Langmuir Project

About Golden Chalice

Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium 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 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

/s/”Richard W. Hughes”

Richard Hughes, Chairman

For Further Information Contact: The Hughes Exploration Group; Phone: (604) 685-2222 or 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.

The proceeds of the private placement will be used for exploration on the Company’s Ontario properties and for general working capital.

About Golden Chalice

The Company’s flagship project continues to be the road-accessible Langmuir Property, about 35 kilometers southeast of the Timmins mining camp, Ontario. Ongoing exploration is focused on further testing a nickel discovery where drilling in early 2007 intersected 72.5 meters grading 1.14%, capturing broad industry attention.

Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits.

CONTACT INFORMATION

Corporate Inquiries:

Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
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Barry Ritholtz “Gold Has A Date With $1,500 Somewhere In The Future”

December 16th, 2008

The Will Hunting Of Wall Street - "He's Wickid Smawt"

Readers of my blog are very well acquainted with Barry Ritholtz, arguably the best financial blogger on the web. For those of you who are hearing about him for the first time, Barry Ritholtz is the Will Hunting of Wall Street - a down to earth guy who is “wicked smawt”.

On December 8th, he completed this interview with Barron’s (highly recommended reading) in which he gave his outlook on the markets. He provided an outlook on various sectors, including following outlook on gold:

Has gold bottomed?

I don’t know where gold bottoms. We recommended gold for the first time in 2002 or 2003. It was strictly an inflation trade, thanks to Greenspan. And then when the GLD gold ETF first came out, we recommended that. Gold has a date with $1,500 somewhere in the future [up from $763 an ounce now], [now trading at $857] but whether it makes that move from 700 or from 400, I have no idea. You just can’t print that much paper and debase the currency and not see some sort of reaction.”

When really intelligent people talk openly about 5-digit gold, the commodity has moved beyond the fringe and into the mainstream. This potentially bodes very well for North American juniors…..stay tuned.

Regards,
George

AGORACOM Chief Commentator, Peter Grandich, made a call to BNN to alert them about this article on gold officially hitting backwardation. Backwardation occurs when the futures price of a commodity is lower than prices in the cash market.

Forward prices for gold turned negative on December 2nd and, according to Antal Fekete the author of the story, this is the first time it has happened in history (with the exception of contract expiry dates for a couple of minutes). Fekete states:

“On December 2nd, at the Comex in New York, December gold futures
(last delivery: December 31) were quoted at 1.98% discount to spot,
while February gold futures (last delivery: February 27, 2009) were
quoted at 0.14% discount to spot. (All percentages annualized.)

The condition got worse on December 3rd, when the corresponding
figures were 2% and 0.29%. This means that the gold basis has turned
negative, and the condition of backwardation persisted for at least 48 hours.“

Please click here to read the AGORACOM blog in its entirety.

Regards,

AGORACOM Investor Relations

The following article by Gene Arensberg in the December 2^nd Resource Investor investigates the Insider Buying on the CDNX.

The article and can be accessed through the following link:

“The smaller, more speculative resource companies have been destroyed pricewise, but there is one group of people buying them like crazy: the insiders of the companies themselves.”

Sincerely,

AGORACOM IR