Chief Consolidated Mining Co. filed its 10-K on August 14, 2009 for the period ending December 31, 2008. In this report its auditor, Hansen, Barnett & Maxwell, P.C., gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Chief Consolidated Mining Co. is in the process of applying for permits in order to complete confirmation and resource expansion drilling at the Trixie Mine Project located in the East Tintic mining district of Utah, USA. It is expected that drilling will start in the area of the Trixie which was previously drilled in 2000. On July 19th 2000, the company reported a 35-foot intercept at a depth of between 655 and 690 feet, containing an average of 6.7 ounces of gold and 9.6 ounces of silver per ton, with grades through the 35-foot mineralized area running between 2.1 and 17.1 ounces of gold and between 2.9 and 11.3 ounces of silver per ton. An additional 50-foot section, between 690 and 740 feet in depth was confirmed to contain an average of 1.0 ounce of gold and 1.8 ounces of silver per ton.

Mr. Jeff Bates has been appointed Chief Financial Officer and Corporate Secretary of Chief Consolidated Mining Co. effective January 15, 2009. Mr. Bates (36) is a qualified Chartered Accountant with the Institute of Chartered Accountants in England and Wales.