Chapleau Commences a 70.7 Line km Ground IP Survey in Preparation for the 7,000 m Phase 3 Drill Program: Financial News

Chapleau Commences a 70.7 Line km Ground IP Survey in Preparation for the 7,000 m Phase 3 Drill Program
Tuesday July 8, 4:52 pm ET

CRANBROOK, BRITISH COLUMBIA--(MARKET WIRE)--Jul 8, 2008 -- Chapleau Resources Ltd. (CDNX:CHI.V - News) has commenced a 70.7 line km IP (induced polarization) dipole-dipole, geophysical survey over approximately 7.0 km of gold-bearing structures at Coringa (see maps on website www.chapleauresources.com). This geophysical survey will be used to better define drill targets being planned for the 7,000 m, third phase diamond drill program to commence in August 2008.

The 7,000 m diamond drill program will be done with two drill rigs and will target:

1. Extensions of gold mineralization along the Guaxebinha-Meio-Onca structure that has a strike length of 1,120 m. Limited drilling (4 drill holes) in the Meio zone has identified high grade gold over an area of 200 m. Previous drill results included:

- Hole 62 with 3.0 m of 65.77 g/t (1.92 oz/t) Au, 65.17 g/t (1.90 oz/t) Ag, 6.03 % Pb, 4.35 % Zn and 0.45 % Cu from 56 to 59 m.

- Hole 11 (This hole was drilled approximately 50 m northwest of hole 62) with 2.0 m of 23.67 g/t Au, 28.25 g/t Ag and 1.67 % Pb from 50 to 52 m).

- Hole 65 with 5.0 m of 3.57 g/t Au, 28.73 g/t Ag, 2.23 % Pb, 1.91 % Zn and 0.25 % Cu from 113.5 to 118.5 m. This hole was drilled approximately 33 m northeast of Hole 62.

2. Gold mineralization below 150 m depth on the Serra structure which had the following best drill intercepts highlighted in the table below and previously reported in press releases on website www.chapleauresources.com.

 

        Summary Table of Best Drill Intercepts  - Serra Structure

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Drill Hole ID          FROM           TO       WIDTH (m)            Au_(g/t)
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BR_COR_DDH1           33.00        34.50            1.5               29.31
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BR_COR_DDH41          60.50        62.00            1.5               14.82
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BR_COR_DDH42          38.00        39.50            1.5               22.47
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BR_COR_DDH57          97.00        98.50            1.5               16.08
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BR_COR_DDH61          98.50       100.00            1.5               15.97
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BR_COR_DDH38          36.20        37.80            1.6                9.08
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BR_COR_DDH57          97.00        98.50            1.5               16.08
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This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified person in compliance with National Instrument 43-101.

For technical information regarding this press release, kindly contact Ian Gendall at 604 669 8511.

BY ORDER OF THE BOARD OF DIRECTORS

CHAPLEAU RESOURCES LTD., Ian Gendall/President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.