CHALICE MINING LIMITED — Capital/Financing Update 2023

Jul 30, 2023

ASX Announcement

31 July 2023

New wide high-grade zones in ~900m step-out drill hole

Exceptional new zones of high-grade sulphide mineralisation intersected in stepout drilling at the Gonneville Ni-Cu-PGE Deposit

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Highlights
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• « Wide-spaced step-out drilling at the 100%-owned Gonneville Ni-Cu-PGE Project has intersected new wide high-grade Cu-PGE zones ~900m down-plunge of the current Gonneville Resource, including:

• « 54.2m @ 3.6g/t 3E[1] , 0.21% Ni, 0.39% Cu , 0.02% Co ( 1.7% NiEq[2] ) from 1132.8m (JD369W3[3] ), incl:

  • « 49m @ 3.9g/t 3E , 0.22% Ni, 0.43% Cu , 0.02% Co ( 1.8% NiEq ) from 1135m, incl:

  • « 9m @ 10.0g/t 3E , 0.24% Ni, 1.2% Cu , 0.02% Co ( 4.3% NiEq) from 1153m.

• « 6.4m @ 3.6g/t 3E, 0.36% Ni, 1.2% Cu , 0.02% Co ( 2.5% NiEq ) from 1188.6m (JD369W1).

• « 16.3m @ 2.2g/t 3E , 0.14% Ni, 0.19% Cu, 0.01% Co ( 1.0% NiEq ) from 1199.7m (JD369W1), incl:

  • « 13.1m @ 2.5g/t 3E , 0.16% Ni, 0.22% Cu, 0.02% Co ( 1.2% NiEq ) from 1201.9m – the deepest mineralisation intersected at Gonneville to date.

• « 132.8m @ 0.77g/t 3E , 0.15% Ni, 0.07% Cu, 0.01% Co ( 0.5% NiEq ) from 1051.2m (JD369W2), incl: « 8m @ 1.5g/t 3E , 0.19% Ni, 0.14% Cu, 0.02% Co ( 0.8% NiEq ) from 1062m.

• « These zones are wide open and appear to be associated with a gabbro unit that is not present in drilling up-dip , opening up a highly prospective new horizon for exploration.

• « Step-out drilling shows the Gonneville Intrusion remains ~ 500m thick as it dips to the west-northwest – significant potential to further increase the mineralised footprint of the Deposit.

• « Together with other similar recent step-out results such as 34m @ 7.0g/t 3E , 0.16% Ni, 0.63% Cu , 0.02% Co ( 2.9% NiEq ) from 432m (JD377), the new results highlight the significant high-grade underground potential well beyond the ~600m deep Resource pit shell.

• « Early underground mining options targeting high-grade zones from a depth of ~400m to 1,100m+ , in parallel with open-pit mining, will now be investigated to determine high-level economics and the optimal drill-out strategy.

• « Four diamond drill rigs are continuing wide-spaced step-out and resource definition drilling at Gonneville.

• « Exploration drilling at the Hooley Prospect (~5km north of Gonneville) has delivered further promising results, with regional exploration drilling scheduled to re-commence in Q3 subject to the receipt of government approvals.

1 3E = Pd+Pt+Au

2 Nickel Equivalent (%) = Ni(%) + 0.32xPd(g/t) + 0.21xPt(g/t) + 0.38xAu(g/t) + 0.83xCu(%) + 3.00xCo(%) 3 JD369W3 is the third wedged directional hole drilled from JD369, the parent drill hole.

Registered Office ABN 47 116 648 956 Level 3, 46 Colin Street, West Perth WA 6005, Australia PO Box 428, West Perth WA 6872

info@chalicemining.com @chalicemining www.chalicemining.com chalice-mining

T: +61 8 9322 3960

Overview

Chalice Mining Limited (“Chalice” or “the Company”, ASX: CHN) is pleased to provide an update on exploration activities at its 100%-owned Gonneville Nickel-Copper-Platinum Group Element (PGE) Project (“Gonneville”), located ~70km north-east of Perth in Western Australia.

Chalice’s multi-track value creation strategy at the Gonneville Project is to advance development studies and progress regulatory approvals for a potential mine at Gonneville (located entirely on Chalice-owned farmland), continue exploration in the surrounding region to determine the full scale of the mineral system, and attract a strategic partner(s) who adds technical, financial and/or marketing capabilities.

Exploration activities are currently focused on wide-spaced step-out and resource definition drilling at the Gonneville Deposit, with four diamond drill rigs operating. Regional exploration drilling will recommence in the surrounding Julimar Exploration Project at the Hooley Prospect (~5km north of Gonneville) as well as at the Baudin, Jansz and Torres targets (untested targets located ~10-25km north of Gonneville) upon receipt of approvals which are anticipated in late Q3 2023.

Step-out drilling at Gonneville is continuing on a ~160-320m spacing and is expected to continue for the foreseeable future, subject to results. This very wide-spaced drilling is targeting the host Gonneville Intrusion at depths of ~400-1,200m, based on interpreted geology from 2D seismic surveys.

Drilling is currently testing the depth extent of the Deposit well beyond the limit of the current Mineral Resource Estimate (Resource) of 560Mt @ 0.88g/t 3E, 0.16% Ni, 0.09% Cu, 0.015% Co (~0.54% NiEq or ~1.7g/t PdEq)[4] (refer to ASX Announcement of 28 March 2023 and attached Appendix A).

Wide-spaced drilling is assessing the potential for large-scale, high-grade sulphide zones at depth which could potentially add material value to the Project through early underground mining. The drilling is also aiming to define new Inferred Resources at the northern end of the Deposit.

Promising new results have also been received from the previous phase of regional exploration drilling at the Hooley Prospect, with follow-up drilling planned in H2 2023.

Gonneville step-out drilling

Recent deep step-out drill holes down-plunge of the high-grade sulphide zones continue to demonstrate the considerable scale of the Gonneville Deposit. The Deposit remains open and is poorly tested beyond a depth of ~600m.

Diamond hole JD369W3, drilled ~900m down-plunge of the Resource, intersected an exceptional high-grade interval of:

• « 54.2m @ 3.6g/t 3E, 0.21% Ni, 0.39% Cu, 0.02% Co (1.7% NiEq) from 1132.8m (JD369W3), incl:

• « 49m @ 3.9g/t 3E, 0.22% Ni, 0.43% Cu, 0.02% Co (1.8% NiEq) from 1135m, incl:

  • « 9m @ 10.0g/t 3E, 0.24% Ni, 1.2% Cu, 0.02% Co (4.3% NiEq) from 1153m.

High-grade mineralisation was also intersected in JD369W1 (~100m down-dip of JD369W3) and in JD369W2 (~250m north of JD369W3):

• « 6.4m @ 3.6g/t 3E, 0.36% Ni, 1.2% Cu, 0.02% Co (2.5% NiEq) from 1188.6m (JD369W1);

• « 6m @ 2.7g/t 3E, 0.15% Ni, 0.08% Cu, 0.01% Co (1.1% NiEq) from 951m (JD369W1).

• « 16.3m @ 2.2g/t 3E, 0.14% Ni, 0.19% Cu, 0.01% Co (1.0% NiEq) from 1199.7m (JD369W1), incl:

• « 13.1m @ 2.5g/t 3E, 0.16% Ni, 0.22% Cu, 0.02% Co (1.2% NiEq) from 1201.9m

• « 132.8m @ 0.77g/t 3E, 0.15% Ni, 0.07% Cu, 0.01% Co (0.5% NiEq) from 1051.2m (JD369W2), incl:

• « 8m @ 1.5g/t 3E, 0.19% Ni, 0.14% Cu, 0.02% Co (0.8% NiEq) from 1062m.

4 Refer to the ASX Announcement on 28 March 2023 and Appendix A.

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There is very limited drilling in the vicinity of these new intersections, with the nearest drill collar located ~575m from JD369 and, as such, these zones remain wide open (Figure 1). The Gonneville Intrusion remains ~500m thick in the deepest intersection to date (JD369W1) and hence there is considerable potential to further expand the mineralised footprint of the Deposit.

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Figure 1. 3D view (looking SSW) of Gonneville Intrusion, >0.8% NiEq Resource blocks and drilling.

The recent intersections do not appear to be located down-plunge of either of the two broadly north-west trending high-grade zones (Figure 2). The controls on the high-grade mineralisation remain unclear, as detailed structural and geochemical investigations have not identified any obvious association with either host rock litho-geochemistry or secondary structural overprints.

The high-grade zones were intersected at the base of the Gonneville Intrusion near the footwall contact and appear to be associated with a gabbro unit that is not present in drilling up-dip. The elevated copper and gold grades are typical of ‘G4 style’ mineralisation, which has been intersected near the footwall contact of the Intrusion near surface. This opens up the possibility of a new prospective horizon to target with further exploration drilling.

Other significant new step-out results include:

• « 107.1m @ 0.84g/t 3E, 0.18% Ni, 0.1% Cu, 0.02% Co (0.6% NiEq) from 458m (HD101), incl:

• « 23m @ 1.2g/t 3E, 0.22% Ni, 0.1% Cu, 0.02% Co (0.7% NiEq) from 515m;

• « 119.1m @ 0.66g/t 3E, 0.19% Ni, 0.09% Cu, 0.02% Co (0.5% NiEq) from 373.9m (HD105), incl:

• « 6.2m @ 1.19g/t 3E, 0.46% Ni, 0.18% Cu, 0.04% Co (1.1% NiEq) from 389m; and,

• « 11.6m @ 0.78g/t 3E, 0.26% Ni, 0.25% Cu, 0.03% Co (0.8% NiEq) from 398.1m.

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Figure 2. Plan View of Gonneville Intrusion, >0.8% NiEq Resource blocks and drilling.

In light of these results, early underground mining options targeting zones from a depth of ~400m to 1,100m+, in parallel with open-pit mining, will now be investigated to determine high-level economic implications and the optimal drill-out strategy for this deeper part of the Gonneville Deposit. This will guide the quantity and timing of resource definition drilling. However, these potential early underground options will not be incorporated in the current Scoping Study, which is targeted for completion in Q3 2023 and which will include open pit mining scenarios only.

Infill drilling to follow up new high-grade sulphide zones at the northern end of the Deposit continues to intersect broad intervals of sulphide mineralisation, often including internal high-grade intervals. Significant new results include:

• « 157.2m @ 0.91g/t 3E, 0.15% Ni, 0.07% Cu, 0.01% Co (0.5% NiEq) from 408.8m (JD383), incl:

• « 8m @ 2.9g/t 3E, 0.30% Ni, 0.27% Cu, 0.03% Co (1.5% NiEq) from 438m.

• « 122.5m @ 1.2g/t 3E, 0.15% Ni, 0.13% Cu, 0.02% Co (0.7% NiEq) from 421m (JD381), incl:

• « 25m @ 2.8g/t 3E, 0.18% Ni, 0.24% Cu, 0.02% Co (1.3% NiEq) from 504m.

• « 56.5m @ 2.1g/t 3E, 0.15% Ni, 0.20% Cu, 0.02% Co (1.0% NiEq) from 421.1m (JD387W1), incl:

• « 13.6m @ 3.5g/t 3E, 0.15% Ni, 0.19% Cu, 0.02% Co (1.4% NiEq) from 421.1m and,

• « 6.4m @ 2.1g/t 3E, 0.16% Ni, 0.19% Cu, 0.02% Co (1.0% NiEq) from 437.7m and,

• « 26.6m @ 1.9g/t 3E, 0.16% Ni, 0.24% Cu, 0.02% Co (1.0% NiEq) from 451m.

• « 51.9m @ 1.7g/t 3E, 0.15% Ni, 0.12% Cu, 0.01% Co (0.8% NiEq) from 438.1m (JD380), incl:

• « 14.9m @ 2.8g/t 3E, 0.15% Ni, 0.20% Cu, 0.02% Co (1.2% NiEq) from 438.1m.

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Hooley Prospect exploration drilling

New reconnaissance exploration drill holes at the Hooley Prospect, located ~5km to the north of Gonneville, have intersected further significant sulphide zones (Figure 3).

Litho-geochemical analysis at Hooley shows the same broad ultramafic-mafic intrusion domains as evident in the Gonneville Intrusion including pyroxenite (and localised harzburgite) at the base, through to leucogabbro at the top, with the same geochemical signature as the central and upper parts of the Gonneville Intrusion.

The more prospective, base metal rich parts of the Gonneville Intrusion stratigraphy are present at Hooley but are typically narrow near surface. In light of this, further deeper drilling is planned to test for a thickening of this stratigraphy at depth.

The drilling completed to date supports the interpretation of the Gonneville Intrusion (and the broader Julimar Complex) as having a rare chonolith-like geometry – which is similar to other major ultramafic-mafic orthomagmatic systems worldwide that host some of the world’s largest nickelcopper+/-PGE deposits, including Norilsk-Talnakh and Jinchuan (Barnes et al, 2016[5] ).

Due to drill site access restrictions, drilling is often not oriented in an optimal direction and therefore the full potential of the zones intersected to date is yet to be fully understood. Drilling to test gaps between current drill holes from additional sites is pending approvals, which are anticipated to be granted in Q3 2023.

Significant new results include:

• « 33.5m (9.0m ETW) @ 1.4g/t 3E, 0.18% Ni, 0.21% Cu, 0.01% Co (0.8% NiEq) from 358.5m (HD107), incl: « 22.8m (6.8m ETW) @ 1.9g/t 3E, 0.24% Ni, 0.29% Cu, 0.02% Co ( 1.1% NiEq ) from 362.2m.

• « 4.4m (1.8m ETW[6] ) @ 0.76g/t 3E, 0.11% Ni, 1.86% Cu , 0.03% Co ( 2.0% NiEq ) from 234.6m (HD102), incl:

• « 2.4m (0.9m ETW) @ 0.82g/t 3E, 0.16% Ni, 3.3% Cu , 0.04% Co ( 3.3% NiEq ) from 234.6m.

• « 5.8m (1.75m ETW) @ 2.2g/t 3E , 0.23% Ni, 0.12% Cu, 0.01% Co ( 1.0% NiEq ) from 346m (HD107), incl:

• « 4.8m (1.4m ETW) @ 2.3g/t 3E , 0.25% Ni, 0.15% Cu, 0.02% Co ( 1.1% NiEq ) from 347m.

• « 14.4m (11.8m ETW) @ 1.1g/t 3E, 0.15% Ni, 0.14% Cu, 0.01% Co (0.6% NiEq) from 188.6m (HD108), incl:

• « 8.4m (6.9m ETW) @ 1.5g/t 3E, 0.20% Ni, 0.21% Cu, 0.01% Co (0.9% NiEq) from 188.6m.

• « 24m (9.9m ETW) @ 0.89g/t 3E, 0.13% Ni, 0.06% Cu, 0.01% Co (0.5% NiEq) from 519m (HD110) incl:

• « 4.9m (2.0m ETW) @ 2.4g/t 3E , 0.14% Ni, 0.08% Cu, 0.01% Co ( 1.0% NiEq ) from 520m

Sub-vertical, post-mineralisation dolerite dykes are common in the area and, given surface access restrictions, orienting drill holes to avoid these dykes is not always possible. Consequently, some drill holes intersected predominantly dolerite and little to no intrusive geology. Dolerite dykes in the region are typically <5m to ~40m wide.

While the results continue to be promising and provide vectors towards higher grades at depth, geology and mineralisation is variable between holes and interpretation remains difficult because of restricted access.

5 Barnes SJ, Cruden A.R, Arndt, A & Saumur, B., 2016. The mineral system approach to magmatic Ni-Cu-PGE sulphide deposits. Ore Geology Reviews 76, 296-316. 6 ETW = Estimated true width

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Figure 3. 3D View (looking ENE) of South Julimar Complex drilling, Gonneville Resource outline and Julimar Complex intrusive geology.

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Chalice’s reconnaissance exploration drilling program in the Julimar State Forest utilises specialist diamond drill rigs with a small footprint and does not involve any mechanised clearing of vegetation or excavation. Comprehensive flora, fauna and cultural heritage surveys and monitoring are being undertaken according to industry best practice.

The low-impact exploration program is strictly governed by a Conservation Management Plan (CMP) approved by the WA Government in late 2021. The Company is awaiting approval of a new CMP which is anticipated in late Q3 2023.

Authorised for release by the Disclosure Committee of the Company.

For further information please visit www.chalicemining.com or contact:

Corporate Enquiries	Media Enquiries	Follow our communications
Alex Dorsch	Nicholas Read	LinkedIn:chalice-mining
Managing Director & CEO	Principal and Managing Director	Twitter:@chalicemining
Chalice Mining Limited	Read Corporate Investor Relations
+61 8 9322 3960	+61 8 9388 1474
info@chalicemining.com	info@readcorporate.com.au

About the Gonneville Nickel-Copper-PGE Project

The Gonneville Nickel-Copper-Platinum Group Element (Ni-Cu-PGE) Project is a pre-development project located on Chalice-owned farmland, ~70km north-east of Perth in Western Australia (Figure 4). The Project was staked in early 2018 as part of Chalice’s global search for high-potential nickel sulphide exploration opportunities.

The Project is centred on the Gonneville Deposit – a significant greenfield mineral discovery by Chalice’s geologists in early 2020. The Deposit hosts a rare mix of critical green metals required for decarbonisation, such as nickel, copper, cobalt, palladium and platinum. Large-scale deposits like Gonneville are very rare and therefore have high strategic value. Current production of these metals is dominated by Russia and South Africa.

Gonneville has a tier-1 scale Mineral Resource Estimate (Resource) (refer to ASX Announcement of 28 March 2023 and attached Appendix A) containing approximately 16 million ounces of platinum group elements (PGEs), 860 thousand tonnes of nickel, 520 thousand tonnes of copper and 83 thousand tonnes of cobalt, making it one of the largest recent nickel sulphide discoveries worldwide, and the largest PGE discovery in Australian history.

Given the scale of the Resource and in response to continued strong strategic interest in the Gonneville Project, Chalice commenced a formal strategic partnering process in 2023. Chalice anticipates that a strategic partner (or partners) with complementary technical, marketing and financial capability may assist with the development of Gonneville and influence the optimal development strategy to maximise shareholder value.

Chalice recognises the need to develop the Gonneville Project sustainably and responsibly, with a best practice approach to environmental, social and cultural heritage management. Chalice is currently continuing exploration and resource definition drilling as well as studies to determine the feasibility of the Project.

The Gonneville discovery has opened up a new unexplored mineral province, the West Yilgarn NiCu-PGE Province in Western Australia. Chalice has a first-mover advantage in the new province and is progressing exploration activities across the West Yilgarn concurrently with pre-development activities at Gonneville.

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Figure 4. Gonneville Ni-Cu-PGE Project map.

Competent Person’s Statement

The information in this announcement that relates to new Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr. Bruce Kendall BSc (Hons), a Competent Person, who is a Member of the Australian Institute of Geoscientists. Mr. Kendall is a fulltime employee of the Company, is entitled to participate in Chalice’s Employee Securities Incentive Plan and his associate holds securities in Chalice. Mr Kendall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and activity being undertaken 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. Mr Kendall consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to previously reported exploration results for the Project are extracted from the following ASX announcements:

« “Significant High-Grade PGE-Cu-Au Extensions at Julimar”, 18 November 2020;

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• « “Major Northern Extension of Gonneville Intrusion Confirmed”, 19 October 2022;

• « “Gonneville Resource increases by ~50% to ~3Mt NiEq” 28 March 2023, and

• « “Further Early-Stage Exploration Success North of Gonneville” 3 May 2023.

The above announcements are available to view on the Company’s website at www.chalicemining.com. The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the relevant original market announcement. The information in this announcement that relates to Mineral Resources has been extracted from the ASX announcement titled “Gonneville Resource increases by ~50% to ~3Mt NiEq” dated 28 March 2023. This announcement is available to view on the Company’s website at www.chalicemining.com.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the relevant original market announcement. Refer to Appendix A and Appendix B for further information on the Mineral Resource Estimate and metal equivalents.

Forward Looking Statements

This Announcement may contain forward-looking statements and forward information, (collectively, forward-looking statements). These forward-looking statements are made as of the date of this announcement and Chalice Mining 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 impact of the discovery on the Gonneville Project’s capital payback; the Company’s planned strategy and corporate objectives; the realisation of Mineral Resource Estimates; the likelihood of further exploration success; the timing of planned exploration and study activities on the Company’s projects; mineral processing strategy; access to sites for planned drilling activities; and the success of future potential mining operations and the timing of the receipt of exploration results.

In certain cases, forward-looking statements can be identified by the use of words such as, “anticipated”, “considered”, “continue”, “could”, “estimate”, “expected”, “for”, “future”, “indicates”, “is”, “likely”, “may”, “open”, “plan” or “planned”, “potential”, “strategy”, “will” 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 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; whether geophysical and geochemical anomalies are related to economic mineralisation or some other feature; whether visually identified mineralisation is confirmed by laboratory assays; obtaining appropriate approvals to undertake exploration activities; metal grades being realised; metallurgical recovery rates being realised; results of planned metallurgical test work including results from other zones not tested yet, scaling up to commercial operations; changes in project parameters as plans continue to be refined; changes in exploration programs and budgets based upon the results of exploration; successful completion of the strategic partnering process; changes in commodity prices; economic conditions; political and social risks, accidents, labour

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disputes and other risks of the mining industry; delays or difficulty in obtaining governmental approvals, necessary licences, permits or financing to undertake future mining development activities; changes to the regulatory framework within which Chalice operates or may in the future; movements in the share price of investments and the timing and proceeds realised on future disposals of investments 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 the ASX at asx.com.au.

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 forward-looking statements.

Mineral Resources Reporting Requirements

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Chalice is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX listing rules. It is a requirement of the ASX listing rules that the reporting of exploration results and mineral resources estimates are in accordance with the 2012 edition of the Australasian Code for Reporting of exploration Results, Minerals Resources and Ore Reserves (“JORC Code”).

The requirements of JORC Code differ in certain material respects from the disclosure requirements of United States securities laws and other reporting regimes. There is no assurance that the Company’s mineral resource estimates and related disclosures prepared under the JORC Code would be the same as those prepared under United States securities law and other reporting regimes. The terms used in this announcement are as defined in the JORC Code. The definitions of these terms differ from the definitions of such terms for purposes of the disclosure requirements in the United States and other reporting regimes.

Mineral Resource Estimates that are not Ore Reserves do not have demonstrated technical feasibility and economic viability. Due to lower certainty, the inclusion of Mineral Resource Estimates should not be regarded as a representation by Chalice that such amounts will be economically exploited, and investors are cautioned not to place undue reliance upon such figures. No assurances can be given that the estimates of Mineral Resources presented in this report will be recovered at the tonnages and grades presented, or at all.

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Table 1. Significant new drill intersections (Sulphide: >0.3% NiEq, >0.6% NiEq) – Gonneville Deposit.

	From	To	Interval	Pd	Pt	Au	Ni	Cu	Co
Hole ID	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	Ni Eq (%)	Type
HD095	345.0	348.0	3.0	1.23	0.51	0.04	0.09	0.02	0.01	0.65	Extension
HD095	353.0	438.6	85.6	0.69	0.16	<0.01	0.14	0.08	0.02	0.51	Extension
Incl	369.7	372.2	2.5	0.66	0.14	0.01	0.18	0.17	0.02	0.63	Extension
and	383.9	393.0	9.1	0.91	0.28	<0.01	0.18	0.12	0.02	0.69	Extension
and	402.1	405.4	3.3	0.69	0.12	<0.01	0.14	0.41	0.02	0.77	Extension
and	409.0	411.0	2.0	1.03	0.20	<0.01	0.17	0.05	0.02	0.64	Extension
and	418.2	426.9	8.7	0.92	0.16	<0.01	0.20	0.10	0.03	0.70	Extension
and	430.0	434.0	4.0	1.08	0.20	<0.01	0.18	0.08	0.02	0.69	Extension
HD095	449.9	458.2	8.3	0.71	0.16	<0.01	0.11	0.15	0.02	0.54	Extension
Incl	455.4	458.2	2.8	1.52	0.34	0.01	0.21	0.38	0.03	1.16	Extension
HD095	473.0	494.0	21.1	1.12	0.23	0.01	0.19	0.09	0.02	0.73	Extension
Incl	474.0	493.0	19.0	1.18	0.24	0.01	0.20	0.10	0.02	0.77	Extension
HD095	514.8	539.4	24.6	0.51	0.11	0.01	0.12	0.06	0.01	0.40	Extension
HD095	565.5	660.0	94.5	0.63	0.14	0.01	0.14	0.10	0.01	0.50	Extension
Incl	592.0	598.0	6.0	0.64	0.14	0.01	0.14	0.22	0.02	0.61	Extension
and	604.0	614.9	10.9	0.94	0.21	0.03	0.18	0.15	0.02	0.71	Extension
and	620.0	625.0	5.0	0.82	0.18	0.01	0.17	0.14	0.02	0.64	Extension
and	626.4	630.0	3.6	0.68	0.13	0.01	0.16	0.22	0.02	0.64	Extension
and	648.0	650.0	2.0	1.12	0.21	<0.01	0.20	0.06	0.02	0.71	Extension
HD095	673.4	681.0	7.6	0.56	0.18	0.01	0.14	0.07	0.02	0.46	Extension
HD101	413.0	424.0	11.0	0.71	1.80	0.01	0.04	0.02	0.01	0.69	Extension
Incl	417.0	424.0	7.0	0.93	2.57	0.01	0.05	0.02	0.01	0.93	Extension
HD101	436.0	453.0	17.0	0.44	0.12	0.01	0.12	0.06	0.01	0.38	Extension
HD101	458.0	565.1	107.1	0.70	0.14	<0.01	0.18	0.10	0.02	0.57	Extension
Incl	471.7	479.5	7.8	0.62	0.14	0.01	0.27	0.18	0.03	0.72	Extension
and	491.0	494.0	3.0	0.95	0.17	<0.01	0.18	0.07	0.02	0.63	Extension
and	515.0	538.0	23.0	0.97	0.18	<0.01	0.22	0.10	0.02	0.71	Extension
and	563.0	565.1	2.1	0.66	0.08	0.01	0.35	0.22	0.04	0.88	Extension
HD101	570.6	595.0	24.4	0.77	0.17	<0.01	0.19	0.09	0.02	0.61	Extension
Incl	570.6	579.0	8.4	0.65	0.12	<0.01	0.22	0.14	0.03	0.66	Extension
and	585.0	589.0	4.0	0.92	0.27	0.01	0.17	0.09	0.02	0.65	Extension
and	591.0	595.0	4.0	1.13	0.27	<0.01	0.22	0.07	0.02	0.75	Extension
HD101	760.4	769.1	8.7	0.31	0.06	<0.01	0.14	0.02	0.01	0.31	Extension
HD101	775.0	777.0	2.0	0.57	0.15	0.01	0.17	0.12	0.02	0.54	Extension
HD101	781.0	786.0	5.0	0.31	0.06	<0.01	0.15	0.02	0.02	0.32	Extension
HD101	791.0	793.0	2.0	0.69	0.17	0.01	0.28	0.14	0.03	0.75	Extension
HD101	799.0	817.0	18.0	0.41	0.08	0.01	0.16	0.04	0.02	0.39	Extension
HD101	822.0	833.3	11.3	0.37	0.08	0.02	0.15	0.08	0.02	0.41	Extension
Incl	830.0	833.0	3.0	0.59	0.13	0.03	0.19	0.15	0.02	0.62	Extension
HD105	298.0	300.0	2.0	0.42	0.98	0.01	0.03	0.02	0.01	0.41	Infill
HD105	312.0	334.1	22.1	0.62	0.17	<0.01	0.14	0.06	0.01	0.47	Extension

Chalice Mining Limited 11

ASX:CHN

	From	To	Interval	Pd	Pt	Au	Ni	Cu	Co
Hole ID	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	Ni Eq (%)	Type
Incl	313.0	315.0	2.0	1.31	0.57	0.01	0.15	0.04	0.02	0.77	Extension
and	324.5	328.0	3.5	0.79	0.16	<0.01	0.20	0.08	0.02	0.61	Extension
HD105	340.0	356.9	16.9	0.65	0.13	<0.01	0.18	0.08	0.02	0.53	Extension
Incl	348.0	351.0	3.0	0.81	0.15	<0.01	0.24	0.19	0.02	0.75	Extension
HD105	373.9	493.0	119.1	0.55	0.11	<0.01	0.19	0.09	0.02	0.53	Extension
Incl	380.0	383.0	3.0	0.72	0.12	0.01	0.22	0.23	0.02	0.73	Extension
and	389.0	395.2	6.2	1.03	0.15	0.01	0.46	0.18	0.04	1.09	Extension
and	398.1	409.6	11.6	0.66	0.11	0.01	0.26	0.25	0.03	0.78	Extension
and	421.4	428.0	6.6	0.79	0.19	0.01	0.24	0.11	0.02	0.70	Extension
and	435.9	438.0	2.1	0.90	0.20	0.02	0.35	0.21	0.04	0.98	Extension
and	449.0	455.0	6.0	0.66	0.12	0.01	0.21	0.17	0.02	0.66	Extension
and	476.0	478.0	2.0	0.78	0.14	<0.01	0.26	0.10	0.03	0.72	Extension
HD105	511.2	612.7	101.5	0.78	0.16	<0.01	0.17	0.05	0.02	0.55	Extension
Incl	514.0	526.0	12.0	1.08	0.23	<0.01	0.19	0.07	0.02	0.70	Extension
and	536.0	540.0	4.0	1.30	0.27	<0.01	0.18	0.05	0.02	0.74	Extension
and	548.1	551.0	2.9	1.65	0.37	<0.01	0.20	0.06	0.02	0.91	Extension
and	567.0	571.0	4.0	1.45	0.28	<0.01	0.22	0.06	0.02	0.86	Extension
and	590.0	598.0	8.0	0.91	0.20	0.01	0.24	0.13	0.03	0.75	Extension
and	609.0	611.0	2.0	1.65	0.24	0.01	0.40	0.09	0.04	1.19	Extension
JD369W1	594.0	599.0	5.0	0.79	0.19	0.01	0.20	0.09	0.02	0.64	Extension
JD369W1	850.0	857.0	7.0	0.48	1.67	0.01	0.03	0.01	0.01	0.56	Extension
Incl	851.2	854.0	2.8	0.76	2.86	0.02	0.03	0.01	0.01	0.91	Extension
JD369W1	863.0	865.0	2.0	0.91	0.29	0.04	0.08	0.07	0.01	0.52	Extension
JD369W1	870.0	872.4	2.4	0.53	0.28	0.01	0.08	0.01	0.01	0.36	Extension
JD369W1	895.0	907.0	12.0	0.96	0.45	0.02	0.07	0.03	0.01	0.53	Extension
JD369W1	918.0	921.0	3.0	0.22	0.10	0.01	0.14	0.07	0.02	0.35	Extension
JD369W1	943.0	957.0	14.0	1.08	0.47	0.04	0.10	0.05	0.01	0.63	Extension
Incl	951.0	957.0	6.0	1.89	0.77	0.07	0.15	0.08	0.01	1.05	Extension
JD369W1	965.0	977.0	12.0	0.65	0.28	0.04	0.08	0.14	0.01	0.51	Extension
Incl	965.0	968.0	3.0	1.98	0.84	0.08	0.17	0.10	0.02	1.14	Extension
JD369W1	1032.0	1180.6	148.6	0.57	0.13	0.02	0.14	0.09	0.01	0.48	Extension
Incl	1071.0	1073.0	2.0	0.81	0.21	0.02	0.15	0.34	0.02	0.80	Extension
and	1110.0	1115.0	5.0	0.87	0.20	0.03	0.15	0.12	0.01	0.62	Extension
and	1120.0	1129.0	9.0	0.82	0.21	0.02	0.14	0.15	0.01	0.62	Extension
and	1172.0	1180.6	8.6	0.73	0.13	0.03	0.28	0.15	0.02	0.74	Extension
JD369W1	1188.6	1195.0	6.4	2.51	0.63	0.44	0.36	1.18	0.02	2.51	Extension
JD369W1	1199.7	1216.0	16.3	1.47	0.42	0.26	0.14	0.19	0.01	0.99	Extension
Incl	1201.9	1215.0	13.1	1.72	0.50	0.30	0.16	0.22	0.02	1.17	Extension
JD369W2	577.4	581.0	3.7	0.55	0.46	<0.01	0.09	0.08	0.01	0.45	Extension
JD369W2	903.7	926.0	22.3	0.71	0.34	0.05	0.10	0.10	0.01	0.54	Extension
Incl	903.7	913.7	10.0	1.02	0.41	0.06	0.15	0.15	0.02	0.76	Extension
JD369W2	1023.0	1040.3	17.3	0.41	0.13	<0.01	0.11	0.07	0.01	0.37	Extension

Chalice Mining Limited 12

ASX:CHN

	From	To	Interval	Pd	Pt	Au	Ni	Cu	Co
Hole ID	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	Ni Eq (%)	Type
JD369W2	1051.2	1184.0	132.8	0.62	0.14	0.01	0.15	0.07	0.01	0.48	Extension
Incl	1062.0	1070.0	8.0	1.22	0.27	0.03	0.19	0.14	0.02	0.81	Extension
and	1079.0	1084.0	5.0	0.91	0.17	0.01	0.19	0.15	0.02	0.70	Extension
and	1089.0	1096.0	7.0	0.95	0.18	<0.01	0.17	0.10	0.02	0.64	Extension
JD369W3	598.0	601.0	3.0	0.49	0.13	0.02	0.07	0.12	0.01	0.39	Extension
JD369W3	673.0	675.0	2.0	0.39	0.08	0.01	0.11	0.20	0.01	0.46	Extension
JD369W3	882.0	887.8	5.8	0.53	0.25	0.04	0.09	0.08	0.01	0.42	Extension
JD369W3	910.0	913.0	3.0	0.57	0.38	0.06	0.04	0.16	0.01	0.48	Extension
JD369W3	945.0	947.0	2.0	2.57	0.59	0.01	0.06	<0.01	0.01	1.02	Extension
JD369W3	1010.0	1024.0	14.0	0.40	0.10	0.01	0.13	0.07	0.01	0.38	Extension
JD369W3	1030.0	1055.0	25.0	0.42	0.10	0.01	0.12	0.07	0.01	0.38	Extension
JD369W3	1060.0	1115.3	55.3	0.68	0.15	0.01	0.15	0.09	0.02	0.53	Extension
Incl	1065.0	1073.0	8.0	0.92	0.20	0.01	0.16	0.08	0.02	0.61	Extension
and	1087.0	1101.0	14.0	0.88	0.18	0.02	0.17	0.13	0.02	0.65	Extension
and	1105.0	1108.0	3.0	1.24	0.32	0.04	0.16	0.15	0.02	0.81	Extension
JD369W3	1132.8	1187.0	54.2	2.56	0.74	0.28	0.21	0.39	0.02	1.68	Extension
Incl	1135.0	1184.0	49.0	2.76	0.80	0.31	0.22	0.43	0.02	1.81	Extension
JD380	167.0	189.0	22.0	0.58	0.23	0.02	0.11	0.05	0.01	0.44	Infill
Incl	169.0	171.0	2.0	1.53	0.65	0.05	0.10	0.13	0.01	0.89	Infill
and	173.0	175.0	2.0	0.81	0.29	0.04	0.12	0.14	0.02	0.62	Infill
and	187.0	189.0	2.0	1.25	0.43	0.02	0.16	0.05	0.01	0.74	Infill
JD380	205.0	207.0	2.0	0.68	0.36	0.02	0.07	0.02	0.01	0.41	Infill
JD380	363.7	430.0	66.3	0.67	0.12	<0.01	0.16	0.07	0.02	0.50	Infill
Incl	368.0	372.0	4.0	1.03	0.21	<0.01	0.17	0.03	0.02	0.62	Infill
and	427.0	429.3	2.3	0.89	0.18	0.01	0.20	0.08	0.02	0.66	Infill
JD380	438.1	490.0	51.9	1.23	0.38	0.13	0.15	0.12	0.01	0.82	Infill
Incl	438.1	453.0	14.9	1.81	0.61	0.34	0.15	0.20	0.02	1.20	Infill
and	460.0	466.0	6.0	1.88	0.84	0.09	0.13	0.23	0.01	1.18	Infill
and	469.0	475.0	6.0	1.30	0.25	0.04	0.17	0.09	0.02	0.77	Infill
JD380	587.5	599.6	12.2	0.62	0.15	0.03	0.14	0.08	0.01	0.49	Extension
JD381	223.0	245.0	22.0	0.52	0.83	0.02	0.04	0.02	0.01	0.42	Infill
Incl	228.0	230.0	2.0	1.52	4.01	0.02	0.03	0.01	0.01	1.40	Infill
JD381	261.5	285.0	23.5	1.10	0.46	0.03	0.11	0.06	0.01	0.66	Infill
Incl	264.0	271.6	7.6	1.61	0.63	0.05	0.15	0.10	0.01	0.94	Infill
and	276.5	283.0	6.6	1.25	0.49	0.05	0.13	0.06	0.01	0.73	Infill
JD381	366.6	372.0	5.4	0.58	0.14	0.01	0.13	0.14	0.01	0.50	Infill
JD381	421.0	543.5	122.5	0.90	0.24	0.06	0.15	0.13	0.02	0.67	Infill
Incl	450.0	453.0	3.0	0.78	0.12	<0.01	0.18	0.11	0.02	0.62	Infill
and	484.0	487.8	3.8	0.87	0.15	0.01	0.31	0.08	0.03	0.77	Infill
and	491.0	495.0	4.0	1.19	0.33	0.10	0.12	0.16	0.01	0.78	Infill
and	504.0	529.0	25.0	1.90	0.65	0.23	0.18	0.24	0.02	1.26	Infill
and	532.0	543.5	11.5	0.96	0.18	0.06	0.12	0.16	0.01	0.66	Infill

Chalice Mining Limited 13

ASX:CHN

	From	To	Interval	Pd	Pt	Au	Ni	Cu	Co
Hole ID	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	Ni Eq (%)	Type
JD381	548.3	592.0	43.7	0.76	0.15	0.04	0.15	0.09	0.01	0.56	Extension
Incl	552.2	564.0	11.8	1.05	0.21	0.06	0.16	0.11	0.02	0.70	Extension
and	569.0	579.0	10.0	0.80	0.16	0.03	0.18	0.11	0.02	0.62	Extension
and	587.0	590.0	3.0	0.84	0.17	0.02	0.18	0.10	0.02	0.62	Extension
JD381	602.0	621.5	19.5	0.50	0.11	0.02	0.13	0.06	0.01	0.41	Extension
JD382	193.0	218.0	25.0	0.69	0.25	0.02	0.11	0.02	0.01	0.45	Infill
Incl	193.0	195.0	2.0	1.90	0.80	0.09	0.09	0.06	0.01	0.98	Infill
and	211.0	216.0	5.0	1.81	0.65	0.04	0.20	0.04	0.02	1.02	Infill
JD382	223.0	230.0	7.0	0.89	0.34	0.03	0.11	0.09	0.01	0.59	Infill
Incl	223.0	227.0	4.0	1.10	0.38	0.04	0.17	0.15	0.01	0.78	Infill
JD382	295.0	297.0	2.0	0.49	0.11	0.01	0.09	0.03	0.01	0.33	Infill
JD382	307.5	352.0	44.5	0.88	0.18	0.01	0.20	0.15	0.02	0.71	Infill
Incl	309.0	340.0	31.0	0.99	0.20	0.01	0.22	0.19	0.02	0.81	Infill
JD382	357.0	397.0	40.0	0.51	0.10	<0.01	0.15	0.05	0.01	0.42	Infill
Incl	386.0	390.0	4.0	0.89	0.16	0.01	0.18	0.08	0.02	0.63	Infill
JD383	132.0	143.0	11.0	0.71	0.25	0.02	0.14	0.08	0.02	0.54	Infill
Incl	139.0	143.0	4.0	0.87	0.32	0.03	0.15	0.20	0.02	0.72	Infill
JD383	221.0	223.0	2.0	0.29	0.07	0.02	0.13	0.06	0.01	0.33	Infill
JD383	231.0	263.0	32.0	0.26	0.07	0.01	0.09	0.09	0.01	0.30	Infill
JD383	265.0	276.0	11.0	0.39	0.09	0.01	0.13	0.08	0.02	0.39	Infill
JD383	287.4	351.0	63.6	0.65	0.15	0.03	0.14	0.09	0.01	0.51	Infill
Incl	294.0	302.0	8.0	1.00	0.23	0.12	0.14	0.23	0.01	0.79	Infill
and	307.0	309.0	2.0	1.75	0.43	0.04	0.31	0.13	0.03	1.17	Infill
JD383	356.0	392.0	36.0	0.58	0.11	<0.01	0.17	0.05	0.02	0.48	Infill
Incl	375.0	380.0	5.0	0.89	0.13	<0.01	0.20	0.13	0.02	0.67	Infill
JD383	408.8	566.0	157.2	0.74	0.15	0.02	0.15	0.07	0.01	0.52	Infill
Incl	438.0	446.0	8.0	2.50	0.33	0.02	0.30	0.27	0.03	1.49	Infill
and	519.0	522.0	3.0	1.28	0.55	0.03	0.10	0.05	0.01	0.70	Infill
and	552.0	555.0	3.0	1.06	0.17	0.03	0.19	0.12	0.02	0.72	Extension
and	560.0	564.0	4.0	1.05	0.28	0.13	0.13	0.08	0.01	0.69	Extension
JD384	168.0	170.0	2.1	0.44	0.35	0.02	0.07	0.21	0.01	0.50	Infill
JD384	270.0	273.0	3.0	0.24	0.07	0.01	0.12	0.06	0.01	0.31	Infill
JD384	280.0	406.6	126.6	0.55	0.13	0.12	0.13	0.08	0.01	0.49	Extension
Incl	281.0	285.0	4.0	0.05	0.01	3.29	0.03	0.07	<0.01	1.37	Extension
and	315.0	322.0	7.0	1.03	0.25	0.03	0.14	0.08	0.01	0.64	Extension
and	339.0	341.9	2.9	0.65	0.18	0.07	0.12	0.23	0.02	0.63	Extension
and	357.6	360.9	3.3	0.73	0.15	0.04	0.16	0.18	0.02	0.64	Extension
and	373.0	376.0	3.0	0.96	0.18	0.01	0.19	0.10	0.02	0.68	Extension
and	392.0	406.0	14.0	0.85	0.20	0.02	0.19	0.10	0.02	0.64	Extension
JD384	413.2	469.0	55.8	0.43	0.09	0.01	0.15	0.08	0.02	0.43	Extension
Incl	445.0	447.0	2.0	0.99	0.21	0.02	0.23	0.15	0.02	0.79	Extension
JD384	480.4	498.4	18.0	0.51	0.17	<0.01	0.18	0.04	0.02	0.47	Extension

Chalice Mining Limited 14

ASX:CHN

	From	To	Interval	Pd	Pt	Au	Ni	Cu	Co
Hole ID	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	Ni Eq (%)	Type
Incl	480.4	485.1	4.6	0.87	0.43	<0.01	0.23	0.09	0.03	0.75	Extension
JD384	515.4	523.4	8.1	0.60	0.14	<0.01	0.14	0.01	0.01	0.41	Extension
JD384	586.0	605.7	19.7	1.01	0.53	0.01	0.24	0.10	0.02	0.82	Extension
Incl	586.6	590.0	3.4	2.53	2.29	0.02	0.47	0.23	0.05	2.10	Extension
and	597.0	605.0	8.0	0.93	0.21	<0.01	0.24	0.11	0.02	0.73	Extension
JD384	620.2	672.7	52.5	0.48	0.10	0.01	0.16	0.06	0.01	0.43	Extension
Incl	653.0	656.0	3.0	0.67	0.13	0.01	0.28	0.14	0.02	0.72	Extension
JD384	684.0	722.0	38.0	0.50	0.10	0.05	0.13	0.14	0.02	0.50	Extension
Incl	701.0	704.0	3.0	0.84	0.13	0.06	0.16	0.31	0.02	0.80	Extension
JD385	201.0	210.0	9.0	0.32	0.63	0.01	0.03	0.02	0.01	0.30	Infill
JD385	219.0	230.0	11.0	0.45	0.19	0.01	0.11	0.02	0.01	0.35	Infill
Incl	223.0	225.0	2.0	1.29	0.59	0.01	0.15	0.04	0.02	0.77	Infill
JD385	246.0	257.0	11.0	0.99	0.33	0.02	0.15	0.04	0.01	0.61	Infill
Incl	250.0	253.0	3.0	1.86	0.59	0.02	0.22	0.05	0.02	1.04	Infill
JD385	418.0	473.1	55.1	0.49	0.10	0.01	0.15	0.05	0.01	0.42	Extension
Incl	455.6	460.0	4.4	1.04	0.28	0.01	0.20	0.14	0.02	0.78	Extension
JD385	554.0	580.0	26.0	0.57	0.13	0.02	0.12	0.06	0.01	0.43	Extension
Incl	569.0	571.0	2.0	0.71	0.14	0.04	0.16	0.20	0.02	0.65	Extension
and	574.0	576.0	2.0	1.08	0.22	0.03	0.14	0.05	0.01	0.62	Extension
JD386	146.0	153.0	7.0	0.98	0.36	0.05	0.17	0.03	0.01	0.64	Extension
Incl	148.0	152.0	4.0	1.14	0.41	0.04	0.19	0.03	0.02	0.72	Extension
JD386	182.0	239.0	57.0	0.40	0.09	0.01	0.13	0.11	0.02	0.42	Infill
JD386	258.0	329.8	71.8	0.56	0.14	0.01	0.13	0.09	0.01	0.46	Infill
Incl	294.0	296.0	2.0	1.05	0.27	0.02	0.17	0.14	0.02	0.73	Infill
and	306.7	309.0	2.3	0.86	0.22	0.04	0.26	0.21	0.03	0.85	Infill
and	318.0	320.0	2.0	0.69	0.20	0.01	0.17	0.17	0.02	0.64	Infill
JD386	391.0	421.1	30.1	0.77	0.12	0.01	0.15	0.03	0.02	0.50	Infill
Incl	399.0	401.0	2.0	3.93	0.45	0.08	0.14	0.02	0.02	1.58	Infill
JD386	428.6	504.0	75.5	0.78	0.16	0.02	0.14	0.06	0.01	0.52	Infill
Incl	428.6	432.0	3.5	2.43	0.85	0.06	0.14	0.22	0.02	1.35	Infill
and	447.0	450.0	3.0	1.45	0.20	0.03	0.14	0.06	0.02	0.75	Infill
and	456.0	460.0	4.0	2.40	0.28	0.07	0.13	0.13	0.01	1.13	Infill
and	497.0	499.0	2.0	1.34	0.19	0.02	0.17	0.08	0.02	0.76	Infill
JD386	510.8	513.2	2.4	0.50	0.10	0.01	0.13	0.07	0.01	0.41	Infill
JD386	517.0	542.1	25.1	0.49	0.13	0.08	0.13	0.05	0.01	0.42	Infill
JD387	132.0	136.0	4.0	0.39	0.94	0.01	0.03	0.02	0.01	0.39	Infill
JD387W1	191.0	193.0	2.0	1.09	0.60	0.02	0.08	0.07	0.01	0.64	Infill
JD387W1	234.9	258.0	23.1	0.62	0.14	0.04	0.12	0.11	0.01	0.49	Infill
Incl	240.0	243.0	3.0	0.80	0.19	0.08	0.16	0.21	0.02	0.70	Infill
and	248.0	250.0	2.0	1.19	0.27	0.09	0.15	0.20	0.02	0.83	Infill
JD387W1	264.2	301.2	37.0	0.54	0.14	0.01	0.11	0.07	0.01	0.41	Infill
JD387W1	318.0	378.9	60.9	0.72	0.14	<0.01	0.17	0.09	0.02	0.56	Infill

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==> picture [483 x 173] intentionally omitted <==

----- Start of picture text -----

|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|From|To|Interval|Pd|Pt|Au|Ni|Cu|Co|
|Hole ID|Ni Eq (%)|Type|
|(m)|(m)|(m)|(g/t)|(g/t)|(g/t)|(%)|(%)|(%)|
|Incl|319.2|323.0|3.8|0.72|0.15|0.01|0.18|0.24|0.02|0.71|Infill|
|and|325.2|329.0|3.9|1.39|0.32|0.02|0.40|0.32|0.04|1.31|Infill|
|and|334.0|340.0|6.0|1.15|0.21|<0.01|0.20|0.10|0.02|0.75|Infill|
|JD387W1|421.1|477.6|56.5|1.45|0.42|0.22|0.15|0.20|0.02|0.99|Infill|
|Incl|421.1|434.7|13.6|2.28|0.87|0.34|0.15|0.19|0.02|1.40|Infill|
|and|437.7|444.0|6.4|1.59|0.44|0.09|0.16|0.19|0.02|1.00|Infill|
|and|451.0|477.6|26.6|1.33|0.31|0.26|0.16|0.24|0.02|0.99|Infill|
|JD387W1|524.0|546.5|22.5|0.56|0.12|0.02|0.15|0.06|0.01|0.45|Extension|
|JD387W1|550.6|553.8|3.2|0.49|0.12|0.03|0.14|0.08|0.01|0.43|Extension|

----- End of picture text -----

Table 2. New drill hole collar, survey data and assaying status – Gonneville Deposit.

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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|EOH|Collar|Collar|
|Easting|Northing|RL|Survey|
|Area|Hole ID|Type|Depth|Azi |Dip |Assay status|
|(m)|(m)|(m)|type|
|(m)|(°)|(°)|
|Gonneville|HD101|DDH|425057|6513755|267|885.4|GPS-RTK|178|-75|Reported|
|Gonneville|HD105|DDH|425059|6513756|267|696.4|GPS-RTK|133|-60|Reported|
|Gonneville|JD369W1|DDH|424245|6513600|265|1302.5|GPS-RTK|97|-64|Reported|
|Gonneville|JD369W2|DDH|424245|6513600|265|1278.9|GPS-RTK|97|-64|Reported|
|Gonneville|JD369W3|DDH|424245|6513600|265|1326.7|GPS-RTK|97|-64|Reported|
|Gonneville|JD380|DDH|425163|6513439|262|621.0|GPS-RTK|128|-72|Reported|
|Gonneville|JD381|DDH|425098|6513507|263|670.1|GPS-RTK|132|-69|Reported|
|Gonneville|JD382|DDH|425134|6513481|262|397.0|GPS-RTK|128|-70|Reported|
|Gonneville|JD383|DDH|425163|6513439|262|586.0|GPS-RTK|129|-57|Reported|
|Gonneville|JD384|DDH|424833|6513098|265|784.0|GPS-RTK|129|-59|Reported|
|Gonneville|JD385|DDH|425130|6513525|261|633.7|GPS-RTK|128|-68|Reported|
|Gonneville|JD386|DDH|425187|6513471|260|577.0|GPS-RTK|129|-57|Reported|
|Gonneville|JD387W1|DDH|425187|6513472|260|603.8|GPS-RTK|129|-69|Reported|
|Gonneville|JD387W1|DDH|425187|6513472|260|603.8|GPS-RTK|130|-67|Reported|

----- End of picture text -----

• Azimuth and collar surveys for directional wedge holes reflect the first survey after the wedge off the parent hole.

Table 3. Significant new drill intersections (Sulphide: >0.3% NiEq, >0.6% NiEq) – Hooley Prospect.

==> picture [483 x 165] intentionally omitted <==

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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|From|To|Interval|ETW|Pd|Pt|Au|Ni|Cu|Co|
|Hole ID|Ni Eq (%)|
|(m)|(m)|(m)|(m)|(g/t)|(g/t)|(g/t)|(%)|(%)|(%)|
|HD097|157.0|163.0|6.0|5.1|0.35|0.61|0.01|0.03|0.01|0.01|0.31|
|HD097|169.0|192.9|23.9|20.5|0.27|0.06|0.02|0.16|0.13|0.02|0.42|
|HD099|81.0|92.0|11.0|5.7|0.72|0.29|0.04|0.16|0.09|0.01|0.59|
|Incl|83.0|91.0|8.0|4.1|0.80|0.30|0.05|0.18|0.10|0.02|0.65|
|HD099|115.0|140.0|25.0|12.9|0.29|0.08|0.02|0.14|0.11|0.01|0.39|
|HD100|232.9|262.2|29.2|17.1|0.37|0.10|0.04|0.13|0.10|0.01|0.41|
|HD100|270.0|277.0|7.0|4.1|0.19|0.18|0.01|0.14|0.03|0.01|0.30|
|HD100|287.0|292.0|5.0|2.9|0.14|0.04|0.05|0.12|0.11|0.01|0.31|

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Hole ID	From (m)	To (m)	Interval (m)	ETW (m)	Pd (g/t)	Pt (g/t)	Au (g/t)	Ni (%)	Cu (%)	Co (%)	Ni Eq (%)
HD100	294.0	296.0	2.0	1.2	0.27	0.07	0.02	0.14	0.13	0.01	0.39
HD102	234.6	239.0	4.4	1.8	0.22	0.17	0.36	0.11	1.86	0.03	1.98
Incl	234.6	237.0	2.4	0.9	0.11	0.06	0.65	0.16	3.30	0.04	3.32
HD103	204.0	208.3	4.3	1.7	0.43	0.16	0.06	0.12	0.07	0.01	0.40
HD103	406.5	446.1	39.6	15.9	0.37	0.10	0.03	0.10	0.14	0.01	0.41
Incl	439.0	445.0	6.0	2.4	0.52	0.13	0.04	0.10	0.30	0.02	0.60
HD104	109.0	118.0	9.0	7.3	0.43	0.18	0.05	0.11	0.11	0.01	0.44
HD104	129.0	146.0	17.0	13.8	0.23	0.06	0.03	0.11	0.09	0.01	0.32
HD104	158.9	161.2	2.3	1.9	0.28	0.12	0.09	0.07	0.23	0.01	0.44
HD104	183.0	186.8	3.8	3.0	0.26	0.09	0.03	0.12	0.08	0.01	0.33
HD106	150.5	152.5	2.0	0.8	0.30	0.25	0.06	0.13	0.15	0.01	0.46
HD106	163.0	169.0	6.0	2.3	0.42	0.22	0.02	0.09	0.08	0.01	0.38
HD106	196.0	201.1	5.1	1.9	0.13	0.04	0.08	0.10	0.26	0.01	0.43
HD106	238.0	287.5	49.5	19.0	0.27	0.07	0.02	0.17	0.11	0.02	0.42
HD107	253.0	264.0	11.0	3.3	0.40	1.08	<0.01	0.02	<0.01	0.01	0.39
Incl	253.0	256.3	3.3	1.0	0.71	2.06	<0.01	0.02	<0.01	0.01	0.70
HD107	337.0	341.0	4.0	1.2	1.22	0.54	0.06	0.14	0.13	0.01	0.82
Incl	338.0	340.0	2.0	0.6	1.74	0.78	0.11	0.19	0.22	0.02	1.19
HD107	346.0	351.8	5.8	1.8	1.40	0.71	0.10	0.23	0.12	0.01	1.01
Incl	347.0	351.8	4.8	1.4	1.52	0.67	0.12	0.25	0.15	0.02	1.10
HD107	358.5	392.0	33.5	9.0	0.86	0.43	0.15	0.18	0.21	0.01	0.82
Incl	362.2	385.0	22.8	6.8	1.17	0.52	0.21	0.24	0.29	0.02	1.09
HD107	423.0	428.0	5.0	1.5	0.16	0.06	0.02	0.11	0.11	0.01	0.32
HD107	444.0	492.0	48.0	14.5	0.31	0.09	0.03	0.13	0.11	0.01	0.39
Incl	446.1	449.0	2.9	0.9	0.69	0.21	0.03	0.51	0.19	0.05	1.09
HD107	555.0	571.0	16.0	4.8	0.85	0.57	0.11	0.14	0.11	0.01	0.70
Incl	561.0	570.0	9.0	2.7	1.15	0.56	0.19	0.20	0.18	0.01	0.96
HD107	577.0	590.0	13.0	3.9	0.25	0.07	0.04	0.12	0.13	0.01	0.37
HD108	188.6	203.0	14.4	11.8	0.68	0.33	0.09	0.15	0.14	0.01	0.62
Incl	188.6	197.0	8.4	6.9	0.97	0.39	0.14	0.20	0.21	0.01	0.86
HD108	217.8	234.0	16.2	13.3	0.24	0.08	0.01	0.12	0.08	0.01	0.33
HD109	151.0	153.0	2.0	1.0	0.40	0.16	0.20	0.15	0.35	0.01	0.72
HD109	203.0	226.7	23.7	11.7	0.31	0.08	0.05	0.12	0.15	0.01	0.42
Incl	218.0	221.0	3.0	1.5	0.38	0.10	0.17	0.11	0.45	0.01	0.72
HD109	232.0	277.3	45.3	22.3	0.23	0.06	0.03	0.13	0.12	0.01	0.37
HD110	519.0	543.0	24.0	9.9	0.65	0.22	0.02	0.13	0.06	0.01	0.48
Incl	520.0	524.9	4.9	2.0	1.81	0.53	0.09	0.14	0.08	0.01	0.97

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Table 4. New drill hole collar, survey data and assaying status – Julimar Exploration Project.

Area	Hole ID	Type	Easting (m)	Northing (m)	RL (m)	EOH Depth (m)	Survey type	Collar Azi (°)	Collar Dip (°)	Assay status
Hann	HD097	DDH	427678	6519876	317	312.4	GPS-RTK	182	-55	Reported
Hooley	HD098	DDH	426027	6518143	292	462.3	GPS-RTK	315	-64	Reported - NSA
Hann	HD099	DDH	427291	6519409	331	240.4	GPS-RTK	1	-76	Reported
Hooley	HD100	DDH	426029	6518143	292	414.3	GPS-RTK	1	-73	Reported
Hann	HD102	DDH	427288	6519413	331	360.3	GPS-RTK	330	-62	Reported
Hooley	HD103	DDH	426027	6518145	292	543.2	GPS-RTK	231	-55	Reported
Hooley	HD104	DDH	426023	6518145	291	237.3	GPS-RTK	130	-79	Reported
Hann	HD106	DDH	427113	6519330	332	339.5	GPS-RTK	289	-79	Reported
Hann	HD107	DDH	427111	6519329	332	630.4	GPS-RTK	330	-60	Reported
Hooley	HD108	DDH	426226	6518637	292	339.2	GPS-RTK	164	-71	Reported
Hann	HD109	DDH	427113	6519331	332	342.4	GPS-RTK	360	-78	Reported
Hooley	HD110	DDH	426227	6518635	292	606.3	GPS-RTK	275	-70	Reported

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Appendix A Mineral Resource Estimate – Gonneville Ni-Cu-PGE Project

Table 5. Gonneville Mineral Resource Estimate (JORC Code 2012), 28 March 2023.

Domain Cut-off Grade
	Category	Mass	Grade		Contained Metal
		(Mt)	Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%)	NiEq (%) PdEq (g/t)	Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt)	NiEq (kt) PdEq (Moz)
Oxide 0.9g/t Pd	Measured	-	- - - - - -	- -	- - - - - -	- -
	Indicated	7.3	1.9 - 0.06 - - -	- 2.0	0.45 - 0.01 - - -	- 0.47
	Inferred	0.2	1.9 - 0.07 - - -	- 2.0	0.01 - - - - -	- 0.02
	Subtotal	7.5	1.9 - 0.06 - - -	- 2.0	0.47 - 0.01 - - -	- 0.49
Sulphide (Transitional) 0.35% NiEq	Measured	0.38	0.82 0.17 0.03 0.19 0.17 0.020	0.70 2.2	0.01 - - 0.72 0.63 0.07	2.7 0.03
	Indicated	14	0.66 0.15 0.03 0.16 0.10 0.018	0.54 1.7	0.30 0.07 0.01 22 14 2.5	77 0.77
	Inferred	0.27	0.60 0.16 0.03 0.15 0.12 0.015	0.54 1.7	0.01 - - 0.42 0.32 0.04	1.5 0.01
	Subtotal	15	0.66 0.15 0.03 0.16 0.10 0.018	0.55 1.7	0.31 0.07 0.01 23 15 2.6	81 0.81
Sulphide (Fresh) 0.35% NiEq	Measured	2.3	1.1 0.26 0.03 0.24 0.18 0.019	0.87 2.7	0.08 0.02 - 5.4 4.2 0.43	20 0.20
	Indicated	280	0.67 0.15 0.03 0.16 0.09 0.015	0.53 1.7	6.0 1.3 0.23 440 260 43	1500 15
	Inferred	200	0.67 0.15 0.03 0.15 0.09 0.015	0.53 1.6	4.4 0.96 0.16 310 180 29	1100 11
	Subtotal	480	0.67 0.15 0.03 0.16 0.09 0.015	0.53 1.7	10 2.3 0.39 750 440 72	2600 26
Underground 0.40% NiEq	Measured	-	- - - - - -	- -	- - - - - -	- -
	Indicated	1.7	0.75 0.21 0.06 0.14 0.08 0.013	0.55 1.7	0.04 0.01 - 2.4 1.4 0.23	9.5 0.10
	Inferred	52	0.78 0.17 0.03 0.16 0.11 0.015	0.59 1.8	1.3 0.28 0.05 83 56 7.7	310 3.1
	Subtotal	54	0.78 0.17 0.03 0.16 0.11 0.015	0.59 1.8	1.3 0.29 0.06 86 57 7.9	320 3.2
All	Measured	2.7	1.1 0.24 0.03 0.23 0.18 0.019	0.85 2.6	0.09 0.02 - 6.2 4.9 0.51	23 0.23
	Indicated	300	0.70 0.15 0.03 0.16 0.09 0.015	0.54 1.7	6.8 1.4 0.26 460 280 45	1600 16
	Inferred	250	0.70 0.15 0.03 0.15 0.09 0.015	0.54 1.7	5.7 1.2 0.22 390 230 37	1400 14
	Total	560	0.70 0.15 0.03 0.16 0.09 0.015	0.54 1.7	13 2.7 0.48 860 520 83	3000 30

Note some numerical differences may occur due to rounding to 2 significant figures. PdEq oxide (Palladium Equivalent g/t) = Pd (g/t) + 1.27x Au (g/t)

NiEq sulphide (Nickel Equivalent %) = Ni (%) + 0.32x Pd(g/t) + 0.21x Pt(g/t) + 0.38x Au(g/t) + 0.83x Cu(%) + 3.00x Co(%) PdEq sulphide (Palladium Equivalent g/t) = Pd (g/t) + 0.67x Pt(g/t) + 1.17 x Au(g/t) + 3.11x Ni(%) + 2.57x Cu(%) + 9.33x Co(%) Underground resources are outside the pit above a 0.40% NiEq cut off grade based on sub-level caving mining method Includes drill holes drilled up to and including 11 December 2022.

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Appendix B

Metal Equivalents – Gonneville Ni-Cu-PGE Project

The Gonneville Resource is quoted in both nickel equivalent (NiEq) and palladium equivalent (PdEq) terms to take into account the contribution of multiple potentially payable metals. The cut-off grade for the sulphide domain was determined using NiEq in preference over PdEq, due to the assumed requirement for sulphide flotation to recover the metals.

PdEq is quoted given the relative importance of palladium by value at the assumed prices. Separate metal equivalent calculations are used for the oxide and transitional/sulphide zones to take into account the differing metallurgical recoveries in each zone.

Oxide Domain

Initial metallurgical testwork indicates that only palladium and gold are likely to be recovered in the oxide domain, therefore no NiEq grade has been quoted for the oxide. The PdEq grade for the oxide has been calculated using the formula:

PdEq oxide (g/t) = Pd(g/t) + 1.27x Au(g/t).

• « Metal recoveries based on limited metallurgical test work completed to date:

• « Pd – 75%, Au – 95%.

• « Metal prices used are consistent with those used in the pit optimisation:

• « US$1,800/oz Pd, US$1,800/oz Au.

Transitional and Fresh Sulphide Domains

Based on metallurgical testwork completed to date for the sulphide domain, it is the Company’s opinion that all the quoted elements included in metal equivalent calculations (palladium, platinum, gold, nickel, copper and cobalt) have a reasonable potential of being recovered and sold.

Only limited samples have been collected from the transitional zone due to its relatively small volume. Therefore, the metallurgical recovery of all metals in this domain are unknown. However, given the relatively small proportion of the transition zone in the Mineral Resource, the impact on the metal equivalent calculation is not considered to be material.

Metal equivalents for the transitional and sulphide domains are calculated according to the formula below:

• « NiEq %= Ni (%) + 0.32x Pd (g/t) + 0.21x Pt (g/t) + 0.38x Au (g/t) + 0.83x Cu (%) + 3.00x Co (%);

• « PdEq (g/t) = Pd (g/t) + 0.67x Pt (g/t) + 1.17x Au (g/t) + 3.11x Ni (%) + 2.57x Cu (%) + 9.33x Co (%)

• Metal recoveries used in the metal equivalent calculations are based on rounded average Resource grades for the higher-grade sulphide domain (>0.6% NiEq cut-off): « Pd – 60%, Pt – 60%, Au – 70%, Ni – 45%, Cu – 85%, Co – 45%.

Metal prices used are consistent with those used in the Whittle Resource pit shell optimisation (based on P20-30 long term analyst estimates):

• « US$1,800/oz Pd, US$1,200/oz Pt, US$1,800/oz Au, US$24,000/t Ni, US$10,500/t Cu and US$72,000/t Co.

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Appendix C JORC Table 1

A-1 Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (eg. 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. • Diamond core was either quarter cored (HQ for Gonneville drilling) half cored (NQ or HQ for exploration drilling) with samples taken over selective intervals ranging from 0.2m to 1.2m (typically 1.0m).
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Qualitative care taken when sampling diamond drill core to sample the same half of the drill core.
	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 (eg. ‘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 (eg. submarine nodules) may warrant disclosure of detailed information. • Mineralisation is easily recognised by the presence of sulphides. Diamond drill core sample intervals were selected on a qualitative assessment of sulphide content
Drilling techniques	Drill type (eg. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg. 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). • A mixture of diamond drill core size used including NQ (47.6mm), HQ (63.5mm diameter) or PQ (85mm) has been used for holes in this announcement. Triple tube has been used from surface until competent bedrock and then standard tube thereafter. • The Gonneville resource includes RC holes drilled with a face sampling bit • Core orientation is by an ACT Reflex (ACT II RD) tool
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. • Individual recoveries of diamond drill core samples were assessed quantitively by comparing measured core length with expected core length from drillers mark. Generally, core recovery was excellent in fresh rock and approaching 100%. Core recovery in oxide material is often poor due to sample washing out. Core recovery in the oxide zone averages 60%
	Measures taken to maximise sample recovery and ensure representative nature of the samples. • Diamond drilling utilises triple tube coring in the oxide zone to improve sample recovery. This results in better

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Criteria	JORC Code explanation Commentary
	recoveries, but recovery is still only moderate to good. • Diamond core samples were consistently taken from the same side of the core
	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. • There is no evidence of a sample recovery and grade relationship in unweathered material.
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. • All drill holes were logged geologically including, but not limited to; weathering, regolith, lithology, structure, texture, alteration and mineralisation. Logging was at an appropriate quantitative standard for infill drilling and resource estimation.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • Logging is considered qualitative in nature. • Diamond drill core is photographed wet before cutting.
	The total length and percentage of the relevant intersections logged. • All holes were geologically logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. • Diamond core was either quarter cored (HQ for Gonneville drilling) or half cored (NQ or HQ and PQ for exploration drilling) with samples taken over selective intervals ranging from 0.2m to 1.2m (typically 1.0m).
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • RC assay samples were collected as two 1m splits from the rig cyclone via a cone splitter. The cone splitter was horizontal to ensure sample representivity. Wet or damp samples were noted in the sample logging sheet. A majority of samples were dry.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Sample preparation is industry standard and comprises oven drying, jaw crushing and pulverising to -75 microns (80% pass).
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Field duplicates were collected at an approximate ratio of one in twenty five. • Diamond drill core field duplicates collected as ¼ core.
	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. • In the majority of cases the entire hole has been sampled and assayed. • Duplicate sample results were compared with the original sample results. There is no bias observed in the data.
	Whether sample sizes are appropriate to the grain size of the material being sampled. • Drill sample sizes are considered appropriate for the style of

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Appendix C JORC Table 1

Criteria	JORC Code explanation Commentary
	mineralisation sought and the nature of the drilling program.
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. • Diamond drill core underwent sample preparation and geochemical analysis by ALS Perth. Au-Pt-Pd was analysed by 50g fire assay fusion with an ICP-AES finish (ALS Method code PGM-ICP24). A 34-element suite was analysed by ICP-MS following a four-acid digest (ALS method code ME-ICP61 including Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn, Zr. Additional ore-grade analysis was performed as required for elements reporting out of range for Ni, Cr, Cu (ALS method code ME-OG-62) and Pd, Pt (ALS method code PGM-ICP27). • These techniques are considered total digests.
	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. • Not applicable as no data from such tools or instruments are reported
	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. • Certified analytical standards and blanks were inserted at appropriate intervals with an insertion rate of >5%. All QAQC samples display results within acceptable levels of accuracy and precision.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. • Significant drill intersections are checked by the Project Geologist and then by the General Manager Exploration. Significant intersections are cross-checked with the logged geology and drill core after final assays are received.
	The use of twinned holes. • No twinning undertaken for drill holes for exploration holes (HD prefix) • At Gonneville (holes with a JD or JRC prefix) eight sets of twinned holes (RC versus Diamond) have been drilled to provide a comparison between grade/thickness variations over a maximum of 5m separation between drill holes. • Palladium assays have been focused on, as part of twin hole comparisons for six sets, with no significant grade bias observed. • Two sets of twins have been analysed for Pd, Ni and Cu with no significant grade bias apparent.

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Appendix C JORC Table 1

Criteria	JORC Code explanation Commentary
	• Assays correlate well between holes. In detail, there is variation for higher grade samples in terms of both location and grade. There is no discernible bias between drill types.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Primary drill data was collected digitally using OCRIS software before being transferred to the master SQL database. • All procedures including data collection, verification, uploading to the database etc are captured in detailed procedures and summarised in a single document.
	Discuss any adjustment to assay data • No adjustments were made to the lab reported assay data.
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. • Drill hole collar locations are initially recorded by Chalice employees using a handheld GPS with a +/- 3m margin of error. • RTK-DGPS collar pick-ups replace handheld GPS collar pick-ups and have +/-20 mm margin of error. • Planned and final hole coordinates are compared after pick up to ensure that the original target has been tested. • Downhole survey data is collected using a gyro tool (Axis Champ Gyro and Reflex Gyro Sprint) and recorded in Microsoft Excel format. Downhole survey tools are calibrated on a weekly basis using a surveyed test bed.
	Specification of the grid system used. • The grid system used for the location of all drill holes is GDA94 - MGA (Zone 50).
	Quality and adequacy of topographic control. • RLs for reported holes were derived from RTK-DGPS pick-ups.
Data spacing and distribution	Data spacing for reporting of Exploration Results. • Diamond drill hole spacing is variable given the early stage of exploration drilling.
	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. • Results from diamond drilling at Dampier, Hartog, Hann and Hooley are not considered sufficient to assume geological or grade continuity. • Results from drilling to date at the Gonneville depositare considered sufficient to assume geological or grade continuity appropriate for Mineral Resource estimation procedure(s) and classifications.
	Whether sample compositing has been applied. • No compositing undertaken for diamond drill core or RC samples.
Orientation of data in relation to	Whether the orientation of sampling achieves unbiased sampling of possible • Diamond drill hole sites at Dampier, Hartog, Hann and Hooley are restricted by access approvalswith multiple

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Criteria	JORC Code explanation Commentary
geological structure	structures and the extent to which this is known, considering the deposit type. holes often drilled from a single site. Hence the orientation of the holes is often not orthogonal to the inferred dip and strike of the mineralisation. All quoted intersections are downhole widths unless otherwise stated. • RC and Diamond drill holes at Gonneville were typically oriented within 15° of orthogonal to the interpreted dip and strike of the known zone of mineralisation. However, several holes were drilled at less optimal azimuths due to site access constraints or to test for alternative mineralisation orientations. At exploration targets the orientation of any mineralisation intersected is unknown.
	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. • The orientation of the drilling is not considered to have introduced sampling bias.
Sample security	The measures taken to ensure sample security. • Samples were collected in polyweave bags at the core cutting facility. The polyweave bags have five samples each and are cable tied. • Filled bags were collected into palletised bulk bags at the field office and delivered directly from site to ALS laboratories in Wangara, Perth by a Chalice contractor several times weekly.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. • None completed for the Dampier, Hartog, Hann and Hooley drilling programs. • Cube Consulting conducted a site visit and review of the sampling techniques and data as part of the July 2022 Resource Estimate on 12 May 2022. • SRK completed an independent assurance review of the Chalice procedures and documentation in 2021, which continue to apply in 2023, and the appropriateness of Cube Consulting estimation methods employed

A-2 Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	Commentary
Mineral tenement	and	Type, reference name/number, location and ownership including agreements or material issueswith third	• Exploration activities are ongoing over E70/5119. The holder CGM (WA) Pty

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Criteria	JORC Code explanation Commentary
land tenure status	parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. Ltd is a wholly owned subsidiary of Chalice Mining Limited • Portions of E70/5119 cover the Julimar State Forest, in which Chalice has an approved Conservation Management Plan and Native Vegetation Clearing Permit. • E70/5119 partially overlaps ML1SA, a State Agreement covering Bauxite mineral rights only. • There are no known encumbrances other than the ones noted above.
	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. • There are no known impediments to operating on the tenements where they cover private freehold land. Drilling within the Julimar State Forest operates under an approved Conservation Management Plan • The tenements are in good standing. • E70/5119 partially overlaps ML1SA, a State Agreement covering Bauxite mineral rights only. • E70/5199 also partially covers the Bindoon Army Training Ground. Currently there is no agreement in place to allow exploration within the training ground
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. • There is no previous exploration at Gonneville and only limited exploration has been completed by other exploration parties in the vicinity of the targets identified by Chalice to date. • Chalice has compiled historical records dating back to the early 1960’s which indicate only three genuine explorers in the area, all primarily targeting Fe-Ti-V mineralisation. • Over 1971<1972, Garrick Agnew Pty Ltd undertook reconnaissance surface sampling over prominent aeromagnetic anomalies in a search for ‘Coates deposit style’ vanadium mineralisation. Surface sampling methodology is not described in detail, nor were analytical methods specified, with samples analysed for V2O5, Ni, Cu, Cr, Pb and Zn, results of which are referred to in this announcement. • Three diamond holes were completed by Bestbet Pty Ltd targeting Fe-Ti-V situated approximately 3km NE of JRC001. • Bestbet Pty Ltd undertook 27 stream sediment samples within E70/5119. Elevatedlevels ofpalladium were

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Appendix C JORC Table 1

Criteria	JORC Code explanation Commentary
	noted in the coarse fraction (<5mm+2mm) are reported in this release. Finer fraction samples did not replicate the coarse fraction results. • A local AMAG survey was flown in 1996 by Alcoa using 200m line spacing which has been used by Chalice for targeting purposes. • A local AMAG survey was flown in 1996 by Alcoa using 200m line spacing which has been used by Chalice for targeting purposes. • An Alcoa and CRA JV completed seven diamond holes in the 1970s targeting a magnetic high to the north of E70/5119 and the east of E70/5351testing for vanadium (Boomer Hill).
Geology	Deposit type, geological setting and style of mineralisation. • The target deposit type is an orthomagmatic Ni-Cu-PGE sulphide deposit, within the Yilgarn Craton. The style of sulphide mineralisation intersected consists of massive, matrix, stringer and disseminated sulphides typical of metamorphosed and structurally overprinted orthomagmatic Ni sulphide deposits.
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. • Provided in body of text.
	If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. • No material information has been excluded.
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. • Significant intercepts are reported using a length-weighted >0.3% NiEq cut off. A maximum of 4m internal dilution has been applied. • Higher grade internal intervals are reported using a >0.6% NiEq length- weighted cut off. A maximum of 2m internal dilution has been applied.

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Criteria	JORC Code explanation Commentary
	• No top cuts have been applied
	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. • Not applicable
	The assumptions used for any reporting of metal equivalent values should be clearly stated. • Metal price assumptions used in the metal equivalent calculations are: US$1,800/oz Pd, US$1,200/oz Pt, US$1,800/oz Au, US$24,000/t Ni, US$10,500/t Cu, US$72,000/t Co. • Metallurgical recovery assumptions used in the metal equivalent calculation for the oxide material are: Pd – 75%, Au – 95%. • Hence for the oxide material PdEq (g/t) = Pd (g/t) + 1.27 x Au (g/t). • Metallurgical recovery assumptions used in the metal equivalent calculation for the sulphide (fresh) material are: Pd – 60%, Pt – 60%, Au – 70%, Ni – 45%, Cu – 85%, Co - 45%. • Hence for the sulphide material NiEq = Ni (%) + 0.32x Pd(g/t) + 0.21x Pt(g/t) + 0.38x Au(g/t) + 0.83x Cu(%) + 3x Co(%)and PdEq = Pd (g/t) + 0.67x Pt(g/t) + 1.17x Au(g/t) + 3.11x Ni(%) + 2.57x Cu(%) + 9.33x Co(%). • The volume of transitional material is small and considered unlikely to materially affect the overall metal equivalent calculation.
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. • Diamond drill hole sites at Dampier, Hartog, Hann and Hooley are restricted by access approvals with multiple holes often drilled from a single site. Hence the orientation of the holes is often not orthogonal to the inferred dip and strike of the mineralisation. All quoted intersections are downhole widths unless otherwise stated. Quoted estimated true widths are based on an interpretation of mineralisation having an overall dip and strike approximately parallel to the footwall contact of the host intrusion as is the case at Gonneville. • At Gonneville RC and Diamond drill holes were typically oriented within 15° of orthogonal to the interpreted dip and strike of the known zone of mineralisation. However, several holes were drilled at less optimal azimuths due to site access constraints or to test

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Appendix C JORC Table 1

Criteria	JORC Code explanation Commentary
	for alternative mineralisation orientations.
	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’). • All widths are quoted down-hole. For regional drilling, true widths are not known. • At Gonneville, true widths vary depending on the orientation of the hole and the orientation of the mineralisation.
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. • Refer to figures in the body of text.
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. • All holes including those without significant intercepts have been reported.
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. • A 2D seismic survey was undertaken by HiSeis Pty Ltd in May 2022 along two east-west lines and 1 north-south tie line. A second 2D survey was undertaken by HiSeis in February 2023 along 2 lines within the Julimar State Forest along existing roads. A 3rdline was completed south of Gonneville as part of this phase of work. • The seismic surveys were undertaken by a high-power Vibroseis source with geophones placed at 5m intervals along/adjacent to lines. • HiSeis provided processed/filtered data including Pseudo Relief, Cosine Phase, Laplacian Edge Detection and Amplitude Envelope grids which were utilised for the domain and line interpretation • Velocity measurements were collected from core samples to allow a time to depth conversion and calculated acoustic impedance • All meaningful data has been included
Further work	The nature and scale of planned further work (eg. tests for lateral extensions or depth extensions or large- scale step-out drilling). • Diamond drilling will continue to test high-priority targets including EM conductors. Further drilling along strike and down dip may occur at these and other targets depending on results.
	Diagrams clearly highlighting the areas of possible extensions, including the maingeological interpretations and • Any potential extensions to mineralisation are shown in the figures in the body of the text.

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Appendix C JORC Table 1

Criteria	JORC Code explanation	Commentary
	future drilling areas, provided this
	information is not commercially
	sensitive.

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