 |
 |
 |
|
 |
|
 |
|
 |
|
|
|
|
|
|
|
|
|
 Tuesday, February 17, 2009 Chancery Resources Reports Update in Operations 
|
News Release
FOR IMMEDIATE RELEASE February 17, 2009 Chancery Resources Reports Update in Operations Vancouver, B.C.- Chancery Resources, Inc. (Chancery) (OTCBB: CCRY - News) is pleased to announce an update in operations as Q1 2009 is about to end. Highlights on "El Cafetal" property in Antioquia, Colombia, include a NI 43-101 resource assessment that is under way, including recommendations for expansion and additional mineralization in the area. Our properties HCL & Felder in British Columbia are on schedule for the initial drilling program at the end of Q2 2009 or sooner as weather permits. More information will be disclosed on the 10K to be filed in the next few weeks. The board of directors has approved the adoption of the 2009 Stock Option Plan to issue up to 6,450,000 shares of our common stock to attract, retain and motivate employees, officers, directors, consultants, agents, advisors and independent contractors of the Company and its Related Parties by providing them the opportunity to acquire a proprietary interest in the Company and to align their interests and efforts to the long-term interests of the Company’s stockholders. During recent months, the Company has taken measures appropriate with current market and commodity conditions to keep down costs, actively work on improving its working capital, cash flow and revenue generation, while maintaining its focus upon moving forward with its gold mine project "El Cafetal" in Antioquia, Colombia, as well as continuing exploration and joining ventures for new gold opportunities. Notice Regarding Forward-Looking Statements This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with exploration for minerals; changes in the operating costs and changes in economic conditions and conditions in mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our current and periodic reports filed from time-to-time with the Securities and Exchange Commission.
Chancery Resources Inc Leila Adams, 214-288-9897 ir@chancerymining.com www.chancerymining.com
|
|
