If you wish
to unsubscribe from our e-mail list, and no longer receive our news releases,
simply reply to this e-mail and you will be removed.
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
12, 2007
Private Placement
Golden
Chalice Resources Inc. (TSX-V: GCR) is pleased to announce
that it has arranged a private placement of up to $300,000 in flow-through
units at a price of $0.30 per unit. Each of the units will consist of one
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 $0.35 per share. The private
placement is subject to regulatory approval.
The proceeds of the
private placement will be used to continue diamond drilling on the
Company’s Abitibi East Property.
Golden Chalice Resources
Inc. is a national Canadian mining exploration company that seeks to find
mineable mineralization in Ontario, New Brunswick, Quebec, British Columbia and Nevada. Creative geological
interpretations along with the latest in geophysical and geochemical surveys
give this aggressive company a full range of prospects that may host gold,
silver, platinum group metals, nickel, copper and diamonds. The Company’s
portfolio of properties provide shareholders good diversification in a number of
jurisdictions with different targets within a single company.
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
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.