CHALICE MINING LIMITED — Capital/Financing Update 2009

Aug 30, 2009

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MARKET RELEASE

31 August 2009

Chalice Gold Mines Limited

TRADING HALT

The securities of Chalice Gold Mines Limited (the “Company”) will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Thursday, 3 September 2009 or when the announcement is released to the market.

Security Code: CHN CHNN

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Matthew Foy Senior Adviser, Issuers

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31 August 2009

Mr Matthew Foy Australian Securities Exchange Exchange Plaza 2 The Esplanade Perth WA 6000

Dear Matthew

Chalice Gold Mines Limited requests a trading halt in its securities pending the release of an announcement regarding a capital raising.

We anticipate being in a position to make an announcement regarding the raising prior to commencement of trading on Thursday 3 September 2009.

We are not aware of any reason why the trading halt should not be granted.

Regards

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RICHARD HACKER Company Secretary