Chancery Resources Announces Operations Update Forecast and Grow Opportunities for 2011

DALLAS, March 1, 2011 /PRNewswire/ -- Chancery Resources Inc. (Chancery) (Pink Sheets: CCRY) is pleased to announce an update in operations as Q4 2010. Highlights on "El Cafetal" property in Antioquia, Colombia, include a sale disposition assessment completed, recommendations for expansion and additional mineralization in the area and include refurbishing and reconditioning of the plant for production stage. Lastly, we are looking into more strategic opportunities and assets carefully selected to expand and diversify our asset portfolio before the end of the year 2011 primary on Rare Earth Materials sector. The exploration will start in our properties at the HDL Zone targeting separate vanadium, niobium, tantalum and phosphate targets, as well as, a unique zone of Rare Earth Elements (REE) mineralization. Our expansion will continue in additional properties in British Columbia, Canada and Australia.

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.

SOURCE Chancery Resources Inc.

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