Chariot Resources Ltd (CHD)

[sumisu]

Chariot Announces High Grade Copper With Gold Intercepts From Potential Sulphide Mining Starter Area

Tuesday August 7, 10:24 am ET

33 METRES @ 3.90% Cu and 443 ppb Au; 58 METRES @ 1.77% Cu and 284 ppb Au; and 8 METRES @ 2.95% Cu and 306 ppb Au

TORONTO, ONTARIO--(CCNMatthews - Aug. 7, 2007) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) is pleased to announce significant new drill results from its planned 40,000 metre 2007 drilling campaign at the Marcona Copper Property. Results reported today are from the Copper 40 (Cu 40) zone from which drill results where previously released on July 18, 2005.
In view of these results, the Copper 40 zone will now be evaluated as a potential starter mining area for the concentrator with a view to determining whether production from the concentrator could commence earlier than estimated in the Scoping Study.

The Copper 40 zone, or as it was previously called the Cu 40 zone is located in the southwestern part of the Mina Justa ultimate open pit. This zone appears to be one continuously mineralized structure of near-surface copper oxide mineralization which towards the southern part of the zone also includes copper sulphide mineralization that lies beneath the copper oxide mineralization.

In 2005 the Copper 40 zone was drill tested with 10 widely spaced holes. At that time the zone was estimated to be about 250 metres by 350 metres. The recent drill results have increased the size of the zone to about 600 metres by 400 metres. Notable highlights from the drilling at Copper 40 zone are (all results are copper sulphide mineralization):

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