Mr. Zachary Goldenberg reports

MCCHIP PROVIDES CORPORATE UPDATE

McChip Resources Inc.'s board of directors has determined that it is in the best interests of the company and its shareholders to continue operating as a publicly listed mining investment issuer. Accordingly, the board has authorized the resumption of investment activities in accordance with the company's investment policy dated Dec. 12, 2007.

Pursuant to the investment policy, the company may invest, directly or indirectly, in securities of companies that are listed, or are preparing to list, on a recognized stock exchange. The company's mandate is to maintain the majority of its invested funds in publicly listed securities of companies operating in the natural resources sector.

About McChip Resources Inc.

McChip is a Canadian natural resource company incorporated in 1935 and headquartered in Toronto, Ont. McChip maintains exposure to the natural resource sector through investments in mineral and other resource-related opportunities. Its common shares trade on the TSX Venture Exchange under the symbol MCS.

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