CRANBROOK, BRITISH COLUMBIA - Nov. 7, 2007 - Chapleau Resources Ltd. (TSX VENTURE:CHI) has completed 124 line-km of regional prospecting between the Mato Velho and Coringa artisanal workings ('garimpos'), with a gold in pan concentrate anomaly discovered approximately 5 km to the northwest of previously drilled hole - DDH 5 (9.71 g/t Au plus 59.00 g/t Ag over 1 m from 32.50 m to 33.50 m) on the Galena-Boca-Vessa-Jaura structure. Ten (10) additional pan concentrate anomalies with very high gold values ranging from 1.04g/t Au to 15.37 g/t Au have also been discovered during the regional prospecting (See website www.chapleauresources.com for map of gold geochemistry in pan concentrates and Table with gold values greater than 1 g/t Au). The Company is highly encouraged because these 11 new regional gold targets significantly expand the gold potential beyond the current zones discovered by earlier drilling (see News Releases dated May 3, June 21 and August 30, 2007). These parallel mineralized shear structures at Mato Velho and Coringa have an aggregate strike length of more than 15 km.
Infill drilling on the 1.4 km Galena-Vessa-Boca-Jaura mineralized structure and the 800 m Serra mineralized structure is progressing well with 4 of approximately 33 holes on the former structure completed to date using 2 drill rigs. (see map on website www.chapleauresources.com for location of drill holes). Details of the intersections and results will be released on receipt of assays. In addition to the infill drill program of 5000 m, drill core samples have been selected for metallurgical testing to determine the most suitable methods of gold, silver and base metal extraction in the future.
The Company has also received the petrographic study of 21 samples taken from 15 of the initial 21 holes drilled at Coringa. Native gold was detected in seven of the sections analyzed, 0.05mm to 0.2mm in size, included mostly in pyrite or at the junction between pyrite and sphalerite, galena or chalcopyrite. A smaller number of grains were detected in the silicate gangue or at the junction between sulphide and silicate. In total sixty-one grains of native gold were detected.
This press release is available on the Chapleau Resources IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Chapleau
This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified person in compliance with National Instrument 43-101.
BY ORDER OF THE BOARD OF DIRECTORS
Signed:
CHAPLEAU RESOURCES LTD.
Eric Wiltzen, President
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Ian Gendall
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Email: info@chapleauresources.com
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