The mission of Chapleau Resources Ltd. (or the "Company") is to maximize shareholder value by acquiring and exploring for world class gold and copper projects. Chapleau\’s current focus is on several highly prospective projects in Brazil and Peru.

Chapleau has a strong and experienced geological team that is headed by Ian Gendall, who has a Masters of Science in Exploration and Geology from Rhodes University, South Africa. Mr. Gendall has extensive experience managing exploration projects in South America (see Chapleau\’s News Release dated August 2, 2005). Mr. Gendall’s experienced team includes Mike Bennett, who has a Bachelor of Science Degree in Mining Geology from the Royal School of Mines, London, England. Mr. Bennett has twenty-three years of geological experience in South America (see News Release dated July 26, 2006). Owen Miller, who has a doctorate of geology from Aberdeen University, Scotland, is also part of the team. Mr. Miller also has extensive experience in several exploration projects in South America. The experience and expertise of Chapleau’s geological team has been key in the fast tracking of Chapleau’s South American projects.

Chapleau’s geological team has identified, assessed and acquired several significant gold exploration projects in Brazil. The projects total approximately 80,000 hectares and are located in the highly prospective Tapajos-Alta Floresta Gold District. The projects, Coringa, Mato Velho and Cabeca are summarized in Chapleau’s News Releases dated April 10, May 25 and August 8, 2006, and April 20, 2007.

Infrastructure for the four projects is good via paved and unpaved roads, and the Mato Velho project is accessible by air. Significantly, there has been extensive artisan gold mining on the Mato Velho, Coringa and Cabeca projects.

Chapleau’s geological team is encouraged about the potential of these gold projects and has been actively drilling Mato Velho and Coringa; see News Releases dated April 23, May 3, June 21, and August 30, 2007. In September 2007, a 3,139.68 line-km airborne magnetic, gradiometric and radiometric geophysical survey was completed on the Mato Velho and Coringa projects. Preliminary interpretations of the magnetic data confirm a 20 km north-trending structural zone with which the current northwest trending Coringa and Mato Velho gold mineralized shear zones are closely associated; see News Release dated September 5, 2007.

In October 2007, Chapleau commenced a phase 2 diamond drilling program of 5,000 meters at Coringa, with two drill rigs being utilized (see News Release dated October 11, 2007).

In February 2007, Chapleau signed a Letter of Intent with Bear Creek Mining Corporation (Bear Creek), regarding an option to acquire up to a 75% interest in the La Yegua porphyry copper-molybdenum (+/- gold) project in the Apurimac Department of Southern Peru. The project is located only 20 km northeast of Southern Peru Copper Corporation’s Los Chancas deposit which reportedly contains 200 million tones of ore grading 1.0% copper, 0.07% molybdenum and 0.12 g/t gold.

The La Yegua project includes 4,100 hectares of mineral claims located approximately 250 km from the Pacific coast and 100 km southwest of the city of Cusco. Access to the project area is very good via both a paved road from Cusco to Nasca and a well maintained dirt road.

Previous work by Bear Creek in 2004 confirmed anomalous copper (200 ppm to 1.2% Cu) and molybdenum (100 ppm to 424 ppm Mo) in rock samples within a zone measuring 2 km long and open to the east and south. Peripheral to the main copper-molybdenum porphyry zone, is strongly anomalous gold in rock samples with grades between 0.30 g/t to 5.32 g/t gold, together with copper values in the 0.3% to 5.98% range. The La Yegua project has potential for bulk-tonnage, disseminated copper-molybdenum (+/- gold) mineralization together with higher grade gold-copper mineralization within structural zones, peripheral to the porphyry-style mineralization (see News Release dated February 5, 2007).

Chapleau’s geological team is planning a drill program at La Yegua, which is expected to commence in November 2007.

Finally, Chapleau is committed to following good corporate governance practices. The Company has an experienced Board of Directors, which guides the operations of the Company and management, and oversees business affairs to maximize long term financial strength and shareholder value. The Board also sets and oversees policies and standards including corporate governance principles and guidelines, which promote the integrity of the Company and its officers and employees and protect the interests of the shareholders. Chapleau has the following committees: Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee and Environment and Safety Committee.

The primary function of the Audit Committee is to assist the Board in fulfilling its oversight responsibilities by reviewing the financial information to be provided to the shareholders and others, the systems of internal controls and management information systems that management has established under supervision of the Audit Committee and the Company’s internal and external audit process. The Audit Committee also monitors compliance with the Company’s legal and regulatory requirements with respect to its financial statements.

The Compensation Committee has overall responsibility for recommending levels of executive compensation that are competitive and motivating in order to attract, maintain and motivate the CEO, CFO, President, other senior officers and other key employees, and for recommending compensation for directors. The Environment and Safety Committee has overall responsibility for developing and monitoring standards for ensuring a safe and healthy work environment and sustainable development.

The Nominating and Corporate Governance Committee, under the supervision of the Board, has responsibility for monitoring and assessing the functioning of the Board, committees of the Board and the individual members of the Board. In addition, this committee ensures that the Board, directors and management adopt and observe good corporate governance practices.