Trading Symbol: (TSX-V: CHI)

Chapleau Resources is a junior Canadian Mining company focused on the exploration and acquisition of world class gold and copper projects in South America. Its current focus is on several highly prospective projects in Brazil and Peru.

FAST FACTS

• Market Cap: ~ $30 Million
• Outstanding Shares: 83,464,581 million
• Current Price Chart
• Press Releases

HIGHLIGHTS

- The La Yegua project in Peru is located 20km northeast of Southern Peru Copper Corporation’s Los Chancas deposit, which reportedly contains 200 million tonnes of ore grading 1.0% copper, 0.07% molybdenum and 0.12 g/t gold.

- High grade gold values of 86.92 g/t Au plus silver values of 170.00 g/t Ag over 0.50 m (hole DDH1 drilled on the Coringa Serra Structure)

- Au 55.11 g/t; Ag 81 g/t; Cu 7142 ppm; Zn 24000 ppm over 0.50m (hole DDH11, drilled on the Coringa Meio Structure)

COMMENTARY

Upon the hiring of seasoned exploration geologist Ian Gendall, who has had extensive time studying the geology in South America, Chapleau Resources began amassing a large land position of over 80,000 ha in four separate projects in the Tapajos region of Brazil. This region is the world’s third largest alluvial goldfield, producing an estimated 30M ounces of gold since the 1970’s. Brazil remains vastly unexplored using modern technology, and has had attractive mining legislation since 1995.

Over the past year, Chapleau Resources has conducted an aggressive drilling program on all of their projects, resulting in a significant gold-bearing structure being identified at their Coringa project. A 34 line-km IP survey confirmed the extension of the Serra structure, and also confirmed the structure runs to a depth of at least 135m. A 5,000 metre drill program on this structure is expected to be completed by mid-December 2007, and results will be highly anticipated by market participants. The following is a summary of assay highlights to date:

- High grade gold values of 86.92 g/t Au plus silver values of 170.00 g/t Ag over 0.50 m (hole DDH1, Serra Structure)

- High grade gold values of 57.92 g/t Au plus silver values of 43 g/t Ag over 1 meter gradient (hole DDH4, Galena-Vessa-Boca to Onça Shear Structure)

- Au 8.76 g/t; Ag 80 g/t; Cu 9831 ppm; Zn 58000 ppm over 0.50m (hole DDH5, Galena-Vessa-Boca to Onça Shear Structure)

- Au 31.48 g/t; Ag 47 g/t; Pb166000 ppm over 0.50m (hole DDH17, Jaura Structure)

With a booming economy, favorable political conditions and solid ongoing assay results from their key properties in Brazil and beyond, Chapleau Resources looks uniquely positioned to capitalize on future commercialization of their Latin American properties. The future looks golden indeed…