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From: jmhollen	7/17/2006 5:32:23 PM
	of 696

Golden Chief Acquires Additional Leases LEWISVILLE, TX, Jul 17, 2006 (MARKET WIRE via COMTEX) -- Golden Chief Resources, Inc. (PINKSHEETS: GCHR) announces the acquisition of approximately 1,100 acres of oil and gas leases located in Elk County, Kansas in exchange for 200,000 shares of its common stock. The 80% net revenue leases contain 13 existing oil and gas wells which are currently shut-in. Two of the wells can be brought on production with the installation of only minimal surface equipment which the Company has in inventory. The Company expects to install the equipment and begin producing the wells early in August. CONTACT: Golden Chief Resources, Inc. Lewisville Mike McIlvain 972-219-8585 SOURCE: Golden Chief Resources, Inc. .

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