Chariot Resources Ltd (CHD)

[sumisu]

Chariot Announces High Grade Copper-Gold Intercepts From Stacked Zones at Sulphide Mining Starter Area

Tuesday October 30, 9:00 am ET

50.0 Metres @ 2.91% Cu and 310 ppb Au; including 24.0 Metres @ 4.34% Cu and 521 ppb Au;
44.0 Metres @ 1.99% Cu and 332 ppb Au, including 16.0 Metres @ 4.59% Cu and 828 ppb Au;
Three holes with cumulative thicknesses of at least 100 metres from stacked high-grade zones


TORONTO, ONTARIO--(Marketwire - Oct. 30, 2007) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) announced significant new drill results from its planned 40,000 metre 2007 drilling campaign at the Marcona Copper Project. Results reported today are from the Copper 40 zone which has been identified as a potential sulphide starter pit area.

Mr. Ulli Rath, President and CEO, said, "The exciting drill results reported today are the best that we have seen from the Copper 40 zone and confirm the importance of this area as part of our final mine plan." He went on to say that "the indication that we have multiple stacked high-grade copper zones with elevated gold values over cumulative thicknesses of up 114 metres makes this a key area in which to continue drilling prior to the mid-November cut-off date for the Feasibility Study."

The Copper 40 zone, or as it was previously called the Cu40 zone, is located in part in the southwestern part of the Mina Justa ultimate open pit. The copper sulphide mineralization contains some of the highest gold values found at Mina Justa. Previous drill results from the Copper 40 zone were released on August 7, 2007.

The recent drill results have confirmed that the copper sulphide mineralization tends to occur in multiple layers or bands. Three of the holes released today have cumulative thicknesses of high grade copper sulphide mineralization of up to 114 metres; and five other holes have cumulative thicknesses of over 50 metres from these stacked zones. The results released today have also extended the high-grade core area that is characterized by copper values up to almost 6% Cu and gold values of over 400 ppb and up to 1000 ppb. The Copper 40 zone remains open to the southeast.

After the multiple layers of copper sulphide mineralization were identified, some of the holes previously drilled in the Copper 40 zone, for which results were released on August 7, 2007 were subsequently deepened. Copper assay results for these deepened holes are also being released today; gold assays for these deepened holes are pending.

Notable highlights from the drilling at Copper 40 zone are (all results are copper sulphide mineralization):

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