Chariot Resources Ltd (CHD)

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Chariot Resources Announces Positive Results From Preliminary Round of Vat Leach Metallurgical Testing at Two Laboratories
10:30 EST Wednesday, March 07, 2007



TORONTO, ONTARIO--(CCNMatthews - March 7, 2007) - Chariot Resources Limited ("Chariot") (TSX:CHD) is pleased to provide an update on the metallurgical testing program for its Mina Justa project. Other metallurgical information was released on January 10, 2006; September 15, 2006 and February 5, 2007.

Preliminary Vat Leach Metallurgical Results:

An initial round of vat leach tests has been completed at Plenge Laboratories in Peru and at SGS Lakefield in Canada. These tests were performed using short vats; and testing was not performed under optimum leaching conditions as these are still being determined. The preliminary results obtained are:


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Laboratory Plenge SGS Lakefield
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Average head grade 1.26% Cu 1.19% Cu
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Recoveries obtained 80-82% 85%
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Acid consumption (GAC ) 33-36 kg/t 25 kg/t
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Crush size - 1/4" - 1/4"
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Leach time 3-6 days 3 days
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Acid cure 20kg/t 10 kg/t
Leach solution 20g/l 10g/l
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On February 5, 2007 Chariot announced that a third and forth round of leaching tests has been initiated to establish how acid consumption can be reduced under optimum leaching conditions. Leaching tests are on-going at Plenge Laboratories, SGS Lakefield and at Terral Laboratories in Chile. The current emphasis is to conduct additional vat leaching tests using taller vats; to complete the testing of optimum leaching conditions; and to determine final acid consumption and recovery projections.

The information contained in this news release was reviewed and validated by Adam Johnston the designated Qualified Persons as defined in National Instrument 43-101.

Mr. Ulli Rath, President and CEO, said: "The preliminary results from the vat leaching test are very encouraging and I believe the additional testing that we are doing on optimizing leaching conditions will help us to improve on the results from these preliminary tests.

"The vat leaching and thin layer heap leaching trade-off studies announced on February 5th are progressing well and we should be in a position to select the most suitable leaching process by May, which would be ahead of schedule," concluded Mr. Rath.

Chariot Resources Limited (TSX:CHD) is developing its 70% owned Marcona Copper Property in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, the Mina Justa project is scheduled to be a mid-tier copper producer by 2009.

Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.

CHARIOT RESOURCES LIMITED.

Ulrich (Ulli) Rath, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Chariot Resources Limited
Toronto, Canada Office
Ulli Rath, President & CEO
Office: [phone] or Cell phone: [phone]




or
Chariot Resources Limited
Forbes West
Investor Relations Advisor
[phone] or Toll Free (NA): 1-888-655-5532


Website: www.chariotresources.com