CHALICE MINING LIMITED — Director's Dealing 2011

Mar 2, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	CHALICE GOLD MINES LIMITED
ABN	47 116 648 956

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Tim R B Goyder
Date of last notice	24 September 2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest	Plato Prospecting Pty Ltd (ACN 008 964 896) as trustee
(including registered holder)	for TRB Goyder Superannuation Fund. Tim Goyder is
Note: Provide details of the circumstances giving rise to the relevantinterest.	the sole Director and Shareholder of Plato ProspectingLtd and a member of the TRB Goyder Superannuation
	Fund.
	Lotaka Pty Ltd (ACN 008 839 192). Tim Goyder is the
	sole Director and Shareholder of Lotaka Pty Ltd.
Date of change	3 March 2011
No. of securities held prior to change	25,118,910 ordinary shares
	2,000,000 $0.25 unlisted options exp 21 March 2011
Class	Unlisted options

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	2,000,000 ordinary shares on exercise of unlistedoptions.
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Conversion of unlisted options at an exercise price of 25cents persharefora totalof$500,000.
No. of securities held after change	27,118,910 ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Exercise of options

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for acontract in relation to which the interesthas changed	N/A
Interest acquired	N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash,providedetailsandanestimatedvaluation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002