Kinross Gold Corporation Commits to a $2.5 Million Investment in Chapleau Resources Ltd.

CRANBROOK, BRITISH COLUMBIA is pleased to announce that it has negotiated a non-brokered private placement of five million units at 50 cents with Kinross Gold Corporation ("Kinross") for proceeds of $2,500,000. Each unit consists of one share and one two-year warrant, exercisable at 70 cents in year one and $1.10 in year two.

Ian Gendall, President of Chapleau commented, "This strategic investment by Kinross in Chapleau is positive recognition of the exploration and management team, and quality exploration properties."

The proceeds from the private placement will be used to advance the Coringa and Mato Velho gold projects in Brazil and the copper-gold exploration program in Peru and for general working capital requirements.

BY ORDER OF THE BOARD OF DIRECTORS

CHAPLEAU RESOURCES LTD.

Ian Gendall, 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.

Contacts: Chapleau Resources Ltd. Ian Gendall President [phone] [phone] (FAX) Email: [e-mail] Website: www.chapleauresources.com