CHALICE MINING LIMITED — Capital/Financing Update 2018

May 30, 2018

==> picture [595 x 107] intentionally omitted <==

ASX Announcement

31 May 2018

Two new gold discoveries expand the district-scale potential of the East Cadillac Gold Project, Canada

Wide drill intercept at North Contact target and new mineralised zone at Lac Rapides target confirm the emerging potential at East Cadillac for large-scale gold systems

Highlights

• Two new significant zones of mineralisation have been intersected during Phase 2 of the recently completed 27,300m regional diamond drill program.

• Hole ECG-18-72 at the North Contact target has intersected a wide mineralised zone of 23.5m at 1.12g/t Au from 180.5m including two high grade zones of 2.0m at 6.86g/t Au and 1.0m at 5.71g/t Au .

• The new intersection at North Contact is in addition to a previously reported intersection of 6.5m at 1.77g/t Au from 157m (ECG-18-24) which now defines an extensive new mineralised strike of >1km.

• The North Contact zone has only been intersected in four holes to date and remains open both along strike and up and down dip .

• Hole ECG-18-49 at the Lac Rapides target has intersected a wide mineralised zone of 20.8m at 0.74g/t Au from 316.7m, including a high grade zone of 3.1m at 4.27g/t Au.

• The mineralisation at Lac Rapides has only been intersected in two holes to date and remains open both along strike and down dip.

• These new results follow-on from the highly encouraging results at Simon West, where a mineralised strike of >3.5km remains open to the west .

• Summer work program being finalised and expected to commence in July 2018.

Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN | TSX: CXN) is pleased to report two significant new mineralised trends which have further enhanced the potential of its East Cadillac Gold Project, located in the Abitibi gold province in Quebec, Canada.

The new drill intercepts have been confirmed following the receipt of a number of new assay results from the recently completed 27,300m regional diamond drilling program. The intercepts at the North Contact and Lac Rapides targets significantly expand the potential of the project to the north and south-east beyond the known Cadillac fault-hosted mineralisation. The lateral extent and thickness of the gold intercepts is considered encouraging and suggests potential for large scale mineralising systems in the area.

The new mineralised zones add to the previously announced discoveries at Simon West, which has now expanded the historical Cadillac fault-hosted mineralisation at Simon West to approximately 3.5km along strike.

The 27,300m regional diamond drill program was designed to follow-up on potential extensions to the gold mineralisation previously intersected at Nordeau West and Simon West, and to complete an initial assessment of

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 1

==> picture [63 x 52] intentionally omitted <==

prioritised regional targets (Simon Far West, North Contact, Lac Rapides and Marilynne) identified from both surface geochemistry and 3D Induced Polarisation surveys undertaken in 2017 (Figure 1).

==> picture [455 x 270] intentionally omitted <==

Figure 1. East Cadillac Gold Project showing diamond drilling locations and assaying progress to 25 May 2018

The latest assay results have confirmed the presence of significant gold mineralisation at the North Contact and Lac Rapides zones, along with further encouraging intersections at Simon West.

The latest significant intercepts are listed in Table 1, with assays from two holes still awaited (full listing of intersections can be found in Appendix 1).

Table 1. East Cadillac Gold Project latest significant drilling intercepts (>1g/t, minimum 2m interval)

Target	Hole No.	From(m)	To(m)	Interval(m)	Au Grade(g/t)
North Contact	ECG_18_072	180.5	204.0	23.5	1.12
	ECG_18_072	incl.		2.0	6.86
	ECG_18_072	incl.		1.0	5.71
Lac Rapides	ECG_18_049	316.7	337.5	20.8	0.74
	ECG_18_049	incl.		3.1	4.27
Simon West	ECG_18_065	321.0	331.7	10.7	0.66
	ECG_18_065	incl.		4.8	1.23
	ECG_18_065	incl.		0.6	5.34
	ECG_18_067	29.0	39.2	10.2	1.02
	ECG_18_067	incl.		2.7	1.79
	ECG_18_067	245.0	248.0	3.0	1.54
	ECG_18_068	256.1	268.5	12.4	0.71
	ECG_18_068	incl.		3.9	1.83
	ECG_18_068	incl.		0.9	3.02
	ECG_18_021	430.0	434.2	4.2	3.63
	ECG_18_021	incl.		1.2	6.34
	ECG_18_021	442.2	444.6	2.4	1.57

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 2

==> picture [63 x 52] intentionally omitted <==

Target	Hole No.	From(m)	To(m)	Interval(m)	Au Grade(g/t)
	ECG_18_021	534.2	536.4	2.2	1.47
	ECG_18_021	incl.		3.0	1.49
	ECG_18_021	580.0	582.3	2.3	1.79
	ECG_18_021	641.7	644.7	3.0	1.52
	ECG_18_034	303.5	305.5	2.0	1.32

North Contact Target

The North Contact was a conceptual target that interpreted the presence of a mineralised fault along the contact between the basement volcanics and overlying Cadillac sediments, sub-parallel to and approximately 800m north of, the Cadillac fault.

A series of drill fences were completed targeting an area of gold anomalism in MMI soil samples coincident with a moderate to strong IP chargeability response. Results to date have defined a well-developed mineralised fault that extends over a strike length of >1km and remains open in all directions (Figure 2).

==> picture [455 x 272] intentionally omitted <==

Figure 2. North Contact mineralised zone plan view with significant intercepts

Results have been received for all drill holes along the North Contact zone and hole ECG-18-72 intersected a broad zone of gold mineralisation: 23.5m at 1.12g/t Au from 180.5m, including a high grade interval of 2.0m at 6.86g/t Au .

The thickness of the mineralised intercept is particularly encouraging, as it is indicative of a potentially robust mineralised system. Importantly, the mineralised zone is interpreted to extend near to surface and remains untested up-dip (Figure 3).

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 3

==> picture [63 x 52] intentionally omitted <==

==> picture [455 x 260] intentionally omitted <==

Figure 3. North Contact cross section A-B

Lac Rapides Target

Two drill traverses completed at the Lac Rapides target tested a zone of anomalous gold plus pathfinder elements (W, Bi, As) on the east end of the property approximately 500m south of the Cadillac fault (Figure 4).

==> picture [455 x 309] intentionally omitted <==

Figure 4. Lac Rapides mineralised zone plan view with significant intercept

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 4

==> picture [63 x 52] intentionally omitted <==

Results have been received for the eastern traverse, drill holes 48 to 51, with hole ECG-18-49 intersecting a broad zone of low grade mineralisation: 20.8m at 0.74 g/t Au from 316.7m, including a high grade interval of 3.1m at 4.27 g/t Au from 323.1m, however it is the thickness of the mineralised zone that is most encouraging. Importantly, the mineralised zone is remains open along strike and at depth (Figure 5).

==> picture [426 x 315] intentionally omitted <==

Figure 5. Lac Rapides cross section C-D

The gold mineralisation is associated with finely disseminated sulphides, primarily pyrite and very fine-grained arsenopyrite with stringer quartz +/- calcite veins.

The target is the first test of several high priority geochemical anomalies delineated south of the Cadillac fault with strong gold plus pathfinder element responses (Figure 6). Infill sampling is planned over these areas to refine targets for follow-up testing.

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 5

==> picture [63 x 52] intentionally omitted <==

==> picture [455 x 339] intentionally omitted <==

Figure 6. East Cadillac Gold Project MMI Geochemistry (2017)

Future Work

The Company is currently updating its geological database and refining its structural interpretation based on the results received to date. A summer field program is also being finalised, which will include in-fill and new regional MMI soil geochemistry and additional geophysical surveys. The program is expected to commence in July 2018.

Chalice’s Chief Executive Officer Alex Dorsch said: “We are excited by these two new gold intercepts at East Cadillac which follow on from the success earlier in the drill program at Simon West and Nordeau West. The first year’s field program continues to demonstrate the prospectivity of the project and the new discoveries confirm that Chalice’s ground consolidation and regional exploration strategy has been effective.”

“We have now demonstrated the potential of this district-scale project to host several new gold discoveries and, when you consider its proximity to several globally significant gold mines, we are looking forward to more encouraging results as our exploration programs gather momentum.”

==> picture [75 x 55] intentionally omitted <==

Alex Dorsch Chief Executive Officer

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 6

==> picture [63 x 52] intentionally omitted <==

For further information, please contact:

Nicholas Read, Principal and Managing Director Read Corporate Investor Relations +61 8 9388 1474 info@readcorporate.com.au

Alex Dorsch, Chief Executive Officer Chalice Gold Mines Limited +61 8 9322 3960 info@chalicegold.com

About the East Cadillac Gold Project, Quebec, Canada

The East Cadillac Gold Project (“ECG Project”) covers an area of 245km[2] and is located ~35km east of the >20Moz Val-d’Or gold camp in Quebec, Canada. With land holdings encompassing a strike length of 27km of the Larder Lake-Cadillac Fault, the most prolifically endowed gold trend in the southern Abitibi, the Project is situated amongst some of the region’s most significant mines, and surrounds to the historical Chimo gold mine, owned by Cartier Resources (TSX: ECR). The Project is a consolidation of several earn-in option agreements (Chalice earning 70 to 100%) and Chalice’s 100%-owned claims.

Competent Persons and Qualifying Persons Statement

The information in this report that relates to Exploration Results in relation to the Company’s Projects is based on information compiled by Dr. Kevin Frost BSc (Hons), PhD, who is a Member of the Australian Institute of Geoscientists. Dr. Frost is a full-time employee of the company and has sufficient experience in the field of activity being reported to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, and is a Qualified Person under National Instrument 43-101 – ‘Standards of Disclosure for Mineral Projects’. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Dr. Frost consents to the release of information in the form and context in which it appears here.

Forward Looking Statements

This document may contain forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, forward-looking statements). These forward-looking statements are made as of the date of this document and Chalice Gold Mines Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, the estimation of mineral reserve and mineral resources, the realisation of mineral reserve estimates, the likelihood of exploration success at the Company’s projects, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.

In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “will”, “may”, “would”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes” or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 7

==> picture [63 x 52] intentionally omitted <==

known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Such factors may include, among others, risks related to actual results of current or planned exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in mineral resources or ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company’s interim and annual financial statements, all of which are filed and available for review on SEDAR at sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking statements.

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 8

==> picture [63 x 52] intentionally omitted <==

APPENDIX 1 – DIAMOND DRILLING INTERCEPTS

Hole	Easting (m)	Northing (m)	Azi (°)	RL (m)	Dip (°)	From (m) To (m)	From (m) To (m)	Interval (m)	Au Grade (g/t)
ECG_18_042	336016	5318576	377	190.6	-55.0	34.0	35.0	1.0	1.27
ECG_18_042	336016	5318576	377	190.6	-55.0	138.6	139.1	0.5	1.26
ECG_18_045	336447	5318863	302	190.0	-55.0	30.0	31.0	1.0	1.13
ECG_18_045	336447	5318863	302	190.0	-55.0	52.8	55.3	2.5	0.31
ECG_18_045	336447	5318863	302	190.0	-55.0	78.0	79.3	1.3	0.28
ECG_18_048	339451	5316640	363	210.4	-55.0	200.0	200.9	0.9	0.54
ECG_18_049	339573	5316811	325	209.5	-55.0	316.7	337.5	20.8	0.74
ECG_18_049	339573	5316811	325	209.5	-55.0	incl.		3.1	4.27
ECG_18_060	330620	5320554	335	186.5	-68.9	148.7	154.7	6.0	0.49
ECG_18_060	330620	5320554	335	186.5	-68.9	incl.		0.7	2.11
ECG_18_060	330620	5320554	335	186.5	-68.9	192.5	201.3	8.8	0.19
ECG_18_060	330620	5320554	335	186.5	-68.9	206.0	210.2	4.3	0.15
ECG_18_060	330620	5320554	335	186.5	-68.9	214.3	214.8	0.5	20.60
ECG_18_060	330620	5320554	335	186.5	-68.9	266.6	268.4	1.8	0.29
ECG_18_060	330620	5320554	335	186.5	-68.9	285.0	287.0	2.0	0.18
ECG_18_060	330620	5320554	335	186.5	-68.9	295.0	297.0	2.0	0.19
ECG_18_060	330620	5320554	335	186.5	-68.9	438.5	440.7	2.2	0.57
ECG_18_060	330620	5320554	335	186.5	-68.9	455.7	457.9	2.2	0.22
ECG_18_060	330620	5320554	335	186.5	-68.9	500.5	502.5	2.0	0.17
ECG_18_060	330620	5320554	335	186.5	-68.9	506.0	507.0	1.0	0.21
ECG_18_060	330620	5320554	335	186.5	-68.9	535.2	536.2	1.0	0.43
ECG_18_060	330620	5320554	335	186.5	-68.9	561.1	562.6	1.5	0.33
ECG_18_060	330620	5320554	335	186.5	-68.9	578.0	579.5	1.5	1.51
ECG_18_060	330620	5320554	335	186.5	-68.9	587.5	592.0	4.5	0.13
ECG_18_060	330620	5320554	335	186.5	-68.9	599.3	603.2	4.0	0.27
ECG_18_060	330620	5320554	335	186.5	-68.9	622.4	623.9	1.5	0.83
ECG_18_060	330620	5320554	335	186.5	-68.9	626.9	627.9	1.0	0.39
ECG_18_063	327170	5320972	329	195.6	-55.0	184.0	189.0	5.0	0.18
ECG_18_063	327170	5320972	329	195.6	-55.0	237.3	239.0	1.7	0.18
ECG_18_064	328406	5321096	343	195.1	-55.0	321.2	323.4	2.2	0.45
ECG_18_065	328329	5320909	355	194.9	-55.0	91.0	92.0	1.0	0.20
ECG_18_065	328329	5320909	355	194.9	-55.0	98.8	100.0	1.2	0.14
ECG_18_065	328329	5320909	355	194.9	-55.0	142.6	143.8	1.2	0.16
ECG_18_065	328329	5320909	355	194.9	-55.0	156.8	161.1	4.3	0.52
ECG_18_065	328329	5320909	355	194.9	-55.0	incl.		1.3	1.56
ECG_18_065	328329	5320909	355	194.9	-55.0	194.5	196.1	1.6	0.37
ECG_18_065	328329	5320909	355	194.9	-55.0	243.9	244.8	0.9	0.23
ECG_18_065	328329	5320909	355	194.9	-55.0	277.2	290.0	12.8	0.16
ECG_18_065	328329	5320909	355	194.9	-55.0	incl.		1.9	0.70
ECG_18_065	328329	5320909	355	194.9	-55.0	302.5	306.5	4.0	0.17
ECG_18_065	328329	5320909	355	194.9	-55.0	321.0	331.7	10.7	0.66
ECG_18_065	328329	5320909	355	194.9	-55.0	incl.		4.8	1.23

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 9

==> picture [63 x 52] intentionally omitted <==

ECG_18_065	328329	5320909	355	194.9	-55.0	incl.		0.6	5.34
ECG_18_066	328269	5320721	343	195.3	-55.0	60.4	61.4	1.0	1.12
ECG_18_066	328269	5320721	343	195.3	-55.0	73.6	82.6	9.0	0.17
ECG_18_066	328269	5320721	343	195.3	-55.0	99.1	106.6	7.5	0.61
ECG_18_066	328269	5320721	343	195.3	-55.0	incl.		1.0	1.87
ECG_18_066	328269	5320721	343	195.3	-55.0	194.2	199.0	4.8	0.15
ECG_18_066	328269	5320721	343	195.3	-55.0	incl.		1.0	0.32
ECG_18_066	328269	5320721	343	195.3	-55.0	276.5	277.1	0.7	0.34
ECG_18_067	328656	5320535	339	210.1	-60.0	29.0	39.2	10.2	1.02
ECG_18_067	328656	5320535	339	210.1	-60.0	incl.		2.7	1.79
ECG_18_067	328656	5320535	339	210.1	-60.0	144.6	145.6	1.0	1.29
ECG_18_067	328656	5320535	339	210.1	-60.0	177.0	182.0	5.0	0.28
ECG_18_067	328656	5320535	339	210.1	-60.0	196.0	197.0	1.0	6.49
ECG_18_067	328656	5320535	339	210.1	-60.0	222.1	226.0	3.9	0.12
ECG_18_067	328656	5320535	339	210.1	-60.0	245.0	248.0	3.0	1.54
ECG_18_067	328656	5320535	339	210.1	-60.0	276.3	277.8	1.5	0.44
ECG_18_067	328656	5320535	339	210.1	-60.0	285.8	289.6	3.8	0.47
ECG_18_067	328656	5320535	339	210.1	-60.0	380.7	381.7	1.0	0.22
ECG_18_068	328780	5320969	339	210.0	-60.0	69.1	71.0	1.9	0.33
ECG_18_068	328780	5320969	339	210.0	-60.0	78.5	80.6	2.1	0.12
ECG_18_068	328780	5320969	339	210.0	-60.0	180.0	182.6	2.6	0.16
ECG_18_068	328780	5320969	339	210.0	-60.0	199.0	200.0	1.0	0.15
ECG_18_068	328780	5320969	339	210.0	-60.0	233.3	235.3	2.0	0.10
ECG_18_068	328780	5320969	339	210.0	-60.0	256.1	268.5	12.4	0.71
ECG_18_068	328780	5320969	339	210.0	-60.0	incl.		3.9	1.83
ECG_18_068	328780	5320969	339	210.0	-60.0	incl.		0.9	3.02
ECG_18_068	328780	5320969	339	210.0	-60.0	276.0	278.9	2.9	0.17
ECG_18_068	328780	5320969	339	210.0	-60.0	279.9	281.4	1.5	7.42
ECG_18_068	328780	5320969	339	210.0	-60.0	297.3	298.8	1.5	0.12
ECG_18_068	328780	5320969	339	210.0	-60.0	301.0	302.1	1.1	0.68
ECG_18_068	328780	5320969	339	210.0	-60.0	304.5	305.5	1.0	0.13
ECG_18_068	328780	5320969	339	210.0	-60.0	312.0	313.0	1.0	0.15
ECG_18_068	328780	5320969	339	210.0	-60.0	322.5	323.5	1.0	1.18
ECG_18_068	328780	5320969	339	210.0	-60.0	325.5	326.5	1.0	0.23
ECG_18_068	328780	5320969	339	210.0	-60.0	359.5	360.0	0.5	1.69
ECG_18_068	328780	5320969	339	210.0	-60.0	400.5	401.5	1.0	0.11
ECG_18_069	330865	5321002	343	190.9	-55.0	94.5	100.1	5.6	0.36
ECG_18_069	330865	5321002	343	190.9	-55.0	incl.		1.3	1.35
ECG_18_069	330865	5321002	343	190.9	-55.0	177.0	177.8	0.8	0.44
ECG_18_070	334734	5319998	357	190.4	-55.0	206.5	208.5	2.0	0.12
ECG_18_071	334779	5320193	371	190.0	-55.0	31.0	32.0	1.0	0.54
ECG_18_071	334779	5320193	371	190.0	-55.0	74.2	80.1	5.9	0.25
ECG_18_071	334779	5320193	371	190.0	-55.0	82.0	83.3	1.3	1.99
ECG_18_071	334779	5320193	371	190.0	-55.0	96.2	98.4	2.1	0.22
ECG_18_071	334779	5320193	371	190.0	-55.0	109.9	114.0	4.2	0.53
ECG_18_071	334779	5320193	371	190.0	-55.0	209.0	210.2	1.2	0.35

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 10

==> picture [63 x 52] intentionally omitted <==

ECG_18_021	330729	5320457	335	180.4	-65.0	430.0	434.2	4.2	3.63
ECG_18_021	330729	5320457	335	180.4	-65.0	incl.		1.2	6.34
ECG_18_021	330729	5320457	335	180.4	-65.0	442.2	444.6	2.4	1.57
ECG_18_021	330729	5320457	335	180.4	-65.0	477.1	478.6	1.5	0.38
ECG_18_021	330729	5320457	335	180.4	-65.0	483.5	485.0	1.5	0.39
ECG_18_021	330729	5320457	335	180.4	-65.0	489.0	490.0	1.0	3.04
ECG_18_021	330729	5320457	335	180.4	-65.0	499.5	500.0	0.5	2.42
ECG_18_021	330729	5320457	335	180.4	-65.0	516.7	518.2	1.5	0.27
ECG_18_021	330729	5320457	335	180.4	-65.0	534.2	536.4	2.2	1.47
ECG_18_021	330729	5320457	335	180.4	-65.0	556.7	574.5	17.8	0.40
ECG_18_021	330729	5320457	335	180.4	-65.0	incl.		3.0	1.49
ECG_18_021	330729	5320457	335	180.4	-65.0	580.0	582.3	2.3	1.79
ECG_18_021	330729	5320457	335	180.4	-65.0	641.7	644.7	3.0	1.52
ECG_18_021	330729	5320457	335	180.4	-65.0	648.4	653.0	4.6	0.58
ECG_18_034	330181	5320776	334	190.0	-55.0	303.5	305.5	2.0	1.32
ECG_18_034	330181	5320776	334	190.0	-55.0	incl.		1.0	1.21
ECG_18_034	330181	5320776	334	190.0	-55.0	320.5	321.0	0.5	0.96
ECG_18_061	327247	5321351	335	194.7	-55.0	93.1	94.1	1.0	0.45
ECG_18_072	335601	5320164	364	195.2	-55.0	116.2	120.2	4.0	0.34
ECG_18_072	335601	5320164	364	195.2	-55.0	134.3	138.0	3.7	0.30
ECG_18_072	335601	5320164	364	195.2	-55.0	156.0	163.8	7.8	0.60
ECG_18_072	335601	5320164	364	195.2	-55.0	incl.		0.9	3.47
ECG_18_072	335601	5320164	364	195.2	-55.0	180.5	204.0	23.5	1.12
ECG_18_072	335601	5320164	364	195.2	-55.0	incl.		2.0	6.86
ECG_18_072	335601	5320164	364	195.2	-55.0	incl.		1.0	5.71
ECG_18_073	334417	5320290	362	195.1	-55.0	127.0	128.0	1.0	0.15
ECG_18_073	334417	5320290	362	195.1	-55.0	158.9	173.2	14.3	0.26
ECG_18_073	334417	5320290	362	195.1	-55.0	incl.		1.5	0.72
ECG_18_075	332715	5320912	359	189.0	-55.0	470.0	471.6	1.6	1.62

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 11

==> picture [63 x 52] intentionally omitted <==

APPENDIX 2 – EAST CADILLAC GOLD - JORC TABLE 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	Rock core samples collected using a diamond drill. Core is cut in half using a saw and the half core is sent to the lab for analysis, with one half of the core retained in the core box. For every 20 samples sent to the lab, there is one standard, one duplicate, and one blank sample included within those 20. Duplicate samples are core that has been cut in half, and then the half core cut in half once again, so that each duplicate represents one quarter of the core. NQ diamond drilling was completed to obtain core which was cut and sent to ALS Chemex laboratories for analysis. Gold is analysed using ALS Chemex’s Au-AA23 method, which is the analysis of a 30g crushed and homogenized sample using fire assay and atomic absorption. Any sample which registers a value of greater than 10 ppm Au is run again using the Au- GRA21, which analysis a 30g crushed and homogenized sample using fire assay with a gravimetric finish.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	NQ diamond drilling, oriented using the Reflex Act III tool, and downhole surveys were collected using both the Reflex EZ-trac and EZ- gyro tools, depending on the hole. Some holes have been independently surveyed using a gyro by an independent contract surveyor.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Core recovery lengths are measured and collected for each core run. Core samples are cut in half using a core saw, and half of the core is kept in the core box and stored in a locked and secure storage area in Val d’Or, QC There was no significant loss of core during the drill program. QAQC methods were used to ensure that there was no lab bias or sample contamination (QAQC methods and results included in report)
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Core was logged with respect to lithology, alteration, deformation, texture, and mineralization. Magnetic susceptibility readings were collected systematically on the core. All samples collected were also analysed for pathfinder geochemistry. All of this information combined will be used in the interpretation of the geology of the holes. Logging is a combination of qualitative and quantitative observation. Wet and dry photos of all the core were collected

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 12

==> picture [63 x 52] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
		100% of the core was logged.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	Sawn core, half-core sent to lab (except in case of duplicate sampling, where one half of the core is cut again, with the two quarter-core samples being sent to the lab) Samples were prepped using ALS Chemex PREP-31, “Crush to 70% less than 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns” Within every subset of 20 samples, there is one blank, one standard (randomized selection of OREAS standards) and one duplicate. Scrutinizing the QAQC results to ensure that there is no sample smear or unexplainable results/anomalies. Sample sizes are considered appropriate.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established	Laboratory procedures and assay data have been carefully selected based on appropriate techniques for the type of analysis required. A Terraspec Halo instrument is used to collect short wave infrared data at approximately 3m intervals on all core. Within every subset of 20 samples, there is one blank, one standard (randomized selection of OREAS standards) and one duplicate.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Not applicable. Not applicable. All logging was completed using Geotic logging software. Completed logs are then exported and brought into a MS Access database which is backed up and stored on a server. All hard copy assay certificates are kept in the Winnipeg office. None applied

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 13

==> picture [63 x 52] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used Quality and adequacy of topographic control.	Drill collar locations were collected using a handheld GPS unit, which has an accuracy of roughly +/- 5m. The grid system used is UTM NAD83 Zone 18 datum Topographic control is based on a property scale LiDAR survey
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	Rock chip and whole rock samples collected from available outcrops which occur sporadically in the areas traversed. Soil samples collected on a 400m x 400m grid with infill to 200m x 200mNot applicable Not applicable Composited assay values are composited using a simple weighted average method based on grade and sample length
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Drilling was oriented to achieve as close as possible to orthogonal intersection of mineralized zones, and this was achieved with a relatively high degree of confidence. The drilling orientation did not introduce any sampling bias.
Sample security	The measures taken to ensure sample security.	Samples are delivered directly to the laboratory by a company representative and are double bagged with a security tag attached, and a bag list which is verified by the lab when processed.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	None completed
Section 2 Reporting of Exploration Results
Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	The East Cadillac Gold Project comprises agreements with Globex Enterprises Inc, Monarques Gold Corp and Khalkos Exploration Inc, and claims held by Chalice Gold Mines (Quebec) Inc. located approximately 35-40km east of Val-d’Or, Quebec, Canada. Chalice Gold Mines (Quebec) Inc has entered into a binding option and farm-in term sheet to acquire Globex’s interest in the Nordeau Gold Project through total option payments of C$590,000 and incurring exploration expenditures of C$2,500,000 over 4 years. Chalice shall grant a 3% gross metal royalty to Globex upon exercising the option. Claims owned 100% by Globex Enterprises Inc include title nos. 2437791-2437811;2437912-

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 14

==> picture [63 x 52] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	2437915; 2437862-2437873. Claims owned 60% Globex Enterprises Inc - 40% Bateman Inc. include title nos. 2438798-2438811; 2438935- 2438937. The Globex Option comprises a total 54 claims for 1,499.89Ha. Chalice Gold Mines (Quebec) Inc has entered into a binding option and farm-in term sheet to acquire a 70% interest in Monarques Gold Corp. Chimo Gold Project through total option payments of C$200,000 and incurring exploration expenditures of C$3,100,000 over 4 years. Chalice shall grant a 1% net smelter royalty to Monarques upon exercising the option. A 2% net smelter royalty is held by third parties (Paul Boyd and Patsy Currie Mills) on 748Ha of claims held by Monarques. Claims owned 100% by Monarques include title nos. 2385084, 2438140-2438211 for a total of 73 claims for 2,899.81.4Ha. Chalice Gold Mines (Quebec) Inc has entered into a binding option and farm-in term sheet to acquire a 70% interest in the Project by making total option payments of C$375,000 to Khalkos and funding exploration expenditures of C$1.75 million over a period of five years. Upon meeting these requirements and exercising the option, Chalice shall then grant a 1% Net Smelter Royalty (NSR) to Khalkos on the claims on the basis that all royalties (including pre- existing royalties) do not exceed 3%. Chalice maintains a pre-emptive right over the Khalkos royalty. The Project comprises a total 27 claims for 12.4 km² and includes title Nos.2437916-2437942. Claims owned 100% by Chalice Gold Mines (Quebec) Inc. include title no’s 2434329, 243469-243471,2438058-2438067,2438103- 2438104, 2438130-2438133,2445500- 2445501, 2456677-2456680, 2456713- 2456714,2457365-2457366, 2457890- 2457892,2458268-2458272, 2466091- 2466092,2461488-2461495,2468029- 2468043,2470586, 2471188- 2471200,2472374-2472375,2481223- 2481300,2491522, 2491126,2491239- 2491250, for a total of 170 claims for 8,719.14Ha. All tenements are in good standing and there are no known impediments to operating in the area.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Exploration commenced in the 1940’s and numerous companies have carried out prospecting, geological mapping, trenching and outcrop sampling and ground geophysical surveys and drilling. Multiple programs of diamond drilling were completed prior to Chalice Gold securing options with Globex, Richmont and Khalkos and pegging new claims over adjoining areas.

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 15

==> picture [63 x 52] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	Gold deposits on the East Cadillac Gold project are greenstone-hosted gold deposits that belong to the orogenic class of gold deposits. The East Cadillac Gold project contains a sequence of volcano-sedimentary rocks that is known as the Trivio structural domain, a kilometres-wide deformation corridor interpreted as the eastern extension of the larder lake – Cadillac tectonic zone. Gold mineralization is categorized into two types of epigenetic gold occurrences: i) Gold mineralisation in silicified lodes with disseminated to semi-massive sulphides (arsenopyrite, pyrrhotite and pyrite) spatially related to sedimentary banded iron formations. Secondary quartz veining is commonly associated with this type of gold mineralisation. ii) Structurally controlled gold mineralisation in altered and sheared zones with quartz or quartz carbonate veins parallel to the schistosity and shear zones (most likely to be found in volcanic units). Associated disseminated sulphides include arsenopyrite, pyrite and minor chalcopyrite; graphitic horizons are common. Both types of mineralization occur as free gold associated with sulphide minerals ranging from 1% to 5% when in quartz veins to as much as 20% to 50% when in association with magnetite iron formations.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	A collar table containing all holes drilled to date with results >0.1g/t gold and containing all the requested information is included in the body of this document.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	For composited grade intercepts a simple average of grade intercept over length was used. Not applicable Not applicable
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	Drilling was oriented to achieve as close as possible to orthogonal intersection of mineralised zones, and this was achieved with a relatively high degree of confidence.

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 16

==> picture [63 x 52] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Cross sections and plan map included
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Included
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All meaningful and material data reported
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large- scale step-out drilling).	Further drilling along strike and down plunge of multiple targets

Chalice Gold Mines Limited I ABN 47 116 648 956 I Level 2, 1292 Hay Street, West Perth, Western Australia T: +618 9322 3960 I F: +618 9322 5800 I info@chalicegold.com I www.chalicegold.com I Page 17