CHALICE MINING LIMITED — Investor Presentation 2014

Feb 12, 2014

Well Funded, Experienced Exploration & Development Company

 Strong Balance Sheet ~A$55M cash

 Key Focus:

• Advancing the Cameron Gold Project; and

• Accretive Acquisitions

February 2014

This presentation does not include all available Information on Chalice Gold Mines Limited and should not be used in isolation as a guide to investing in the Company. Any potential investor should also refer to Chalice Gold Mines Limited Annual Reports, filings on sedar.com, and to ASX releases and take independent professional advice before considering investing in the Company.

For further information about Chalice Gold Mines Limited, visit the website at www.chalicegold.com

The information herein that relates to exploration results is based on information compiled by Dr Doug Jones, a full-time employee and Director of Chalice Gold Mines Limited, who is a Member of the Australasian Institute of Mining and Metallurgy and is a Chartered Professional Geologist. Dr Jones 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’. Dr Jones consents to the release of information in the form and context in which it appears here.

The Information in this report that relates to the Exploration Results of the Mogoraib North Project is extracted from the ASX announcement entitled “September 2013 Quarterly Report” released on 29 October 2013 and is available on www.chalicegold.com. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement 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 original market announcement.

Information on the Cameron Gold Camp Project

The information relating to the mineral resource estimates and the results of the preliminary economic assessment reported herein for the Cameron Gold Camp Project is set out in the technical report "Revised Technical Report on the Cameron Gold Camp Project " dated with an effective date of January 2013 and filed on sedar.com on 18[th] February 2013 that was prepared for Coventry by Mr. Peter Ball of Datageo Geological Consultants, Mr. Stephen G. Milot of AMC Mining Consultants (Canada) Ltd. and Mr. David Gordon of Lycopodium Minerals Pty Ltd. To the best of Chalice’s knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources and results of the preliminary economic assessment relating to the Cameron Gold Project inaccurate or misleading.

The information relating to the mineral resource estimates reported herein for the Cameron Gold Project is derived from the sections of the Technical Report prepared by Mr. Ball who is a Chartered Professional and Member of the Australasian Institute of Mining and Metallurgy. Mr. Ball 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. Mr. Ball consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Information on the Dogpaw Gold Deposit

The information relating to the mineral resource estimates reported herein for the Dogpaw Gold Deposit is set out in the technical report “Technical Report on the Dogpaw Gold Deposit” dated with an effective date of 13 May, 2013 that was prepared for Coventry by Mr. Peter Ball of Datageo Geological Consultants . To the best of Chalice’s knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources relating to the Dogpaw Gold Deposit inaccurate or misleading.Mr. Ball has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral 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. Mr. Ball consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Information on the New Gold Rainy River Gold Project

The mineral resource estimate reported herein for the Rainy River Gold Project held by New Gold Inc. is set out in their press release titled “New Gold Announces its Rainy River Feasibility Study Results” dated January 16[th] , 2014 and available on SEDAR under the profile of New Gold Inc.. Chalice and Dr. Doug Jones are unable to verify this information and this information is not necessarily indicative of the mineralization of properties held by Chalice.

www.chalicegold.com

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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 does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law or regulation.

Forward-looking statements relate to future events or future performance and reflect management’s expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the likelihood of exploration success, 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, budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate, or 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 known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Chalice to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; progressing the Cameron Gold Project, the ultimate economics of any future project, future permitting, future funding of the Cameron Gold Project and other projects,possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry, as well as those factors detailed from time to time in Chalice’s interim and annual financial statements, all of which are filed and available for review on SEDAR at sedar.com. Although Chalice 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 forwardlooking 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.

www.chalicegold.com

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Capital Structure:

Share Price(at 30/01/2014)	A$0.14
Shares on Issue**	297.5 million
Market Capitalisation**(at 30/01/2014)	A$42 million
Rights/Options on Issue	7.9 million
Debt	-
Cash	~A$55 million

• Experienced Board & Management team

• A$55M cash as at 31[st] January 2014, Trading at a discount to cash backing

• Recently acquired the Cameron Gold Project by issuing ~46 million shares (~A$7.4 mill*)

• Strong share register

• Based on Chalice’s closing share price on 31/10/13 of A$0.16

• ** Post issuing 46 million shares to Coventry Resources Inc.

Major Shareholders:

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Board and Senior Management:

Tim Goyder	Executive Chairman
Bill Bent	Managing Director
Dr Doug Jones	Technical Director
Anthony Kiernan	Non-Exec Director
Stephen Quin	Non-Exec Director
Richard Hacker	CFO
Dr Harry Wilhemij	Exploration Manager
Steven Chadwick	Technical Manager

www.chalicegold.com

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• Project Highlights:[1 ]

• Low risk, mature mining jurisdiction (Ontario, Canada)

• Measured and Indicated Resource of 567,100 ounces of gold at 2.45 g/t and an Inferred Resource of 830,100 ounces of gold at 2.11 g/t* (excluding Dogpaw and Dubenski)

• Fully diluted open-pit head grade of 2.0 g/t*

• Simple metallurgy (conventional CIL plant with LOM average recoveries of 91.5%*)

• Access to first-world infrastructure and mining services (roads, low cost grid power, communications, mining services)

• Excellent exploration potential

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Notes: 1) The preliminary economic assessment as set out in the "Revised Technical Report on the Cameron Gold Camp Project", February 2013 is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as mineral reserves and there is no certainty that the preliminary economic assessment will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

www.chalicegold.com

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• Coventry Resources: February 2013 Technical Report

• Integrated open pit and underground operation (1mtpa)

• Average annual production of 61,000 ounces of gold

• Initial 10-year mine life

• Pre tax NPV of US$111m (at Gold Price US$1472/oz gold)

• Average cash cost of US$852/oz

• Initial development and capital expenditure estimate of US$110 million (including 20% contingency)

 Chalice Gold: 2014 Optimisation Plans

• Target increasing the open pit resources

• Pit optimisation (geotechnical drilling)

• Near mine exploration (Cameron Project and satellites)

• Increase plant throughput (above 1mtpa in Technical Report)

• Delay underground (open pit followed by underground)

• Progressing critical path work programmes

• First Nations Engagement

• Environmental Baseline Studies

Coventry Resources: Existing Cameron Project Pit Shells Open Pit & Underground Developed in Parallel

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Cameron Gold Project Drill Core

www.chalicegold.com

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Dog Paw
Dubenski
Angel Hill
Robertson
Jupiter
Hermione
Juno
Cameron Ext
Ajax
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Cameron Gold Camp Mineral Resource Estimates[1 ]

2014 Exploration Plans

Cameron Gold Deposit[2]

Cut-off grade (g/t gold)	Category	Tonnes	Grade (g/t gold)	Ounces of Gold
1.0	Measured	2,472,000	2.68	213,400
	Indicated	4,724,000	2.33	353,700
	Measured & Indicated	7,196,000	2.45	567,100
	Inferred	12,226,000	2.11	830,100

Dubenski Gold Deposit[2]

Cut-off grade (g/t gold)	Category	Tonnes	Grade (g/t gold)	Ounces of Gold
1.0	Indicated	806,000	2.28	59,000
	Inferred	392,000	1.44	18,200

Dogpaw Gold Deposit[3]

Cut-off grade (g/t gold)	Category	Tonnes	Grade (g/t gold)	Ounces of Gold
0.5	Indicated	259,000	2.99	24,900
	Inferred	158,000	2.71	13,800

• Cameron Gold Project Exploration Plans:

  • Phase 1 drilling focused on near mine drill ready targets (H1 2014)

  • Geotechnical drilling at Cameron

  • Fly aeromagnetics and work up Phase 2 drilling targets

  • Phase 2 drilling (H2 2014)

• Rainy River Exploration Plans:

  • RC Drilling focused on several priority anomalies (the first quarter of 2014)

  • Work up priority diamond drill targets

• Note in all cases that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate

• NI 43-101 and JORC-Code (2004) compliant Mineral Resource Estimate as set out in the "Revised Technical Report on the Cameron Gold Camp Project", February 2013

• NI 43-101 and JORC-Code (2012) Compliant Mineral Resource Estimate , as set out in the technical report “Technical Report on the Dogpaw Gold Deposit” dated with an effective date of 13 May, 2013 4. Coventry has an option to acquire Dubenski. The option expires in April 2015 and the outstanding terms of the option are the payment of US$3,800,000 to the vendor.

www.chalicegold.com

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 Rainy River Exploration Ground

• 57 km[2] land package 65 km to the southwest of the Cameron Gold Project

• Tenure across a series of high-priority gold and/or base metal anomalies within glacial til

• Located on the same geological trend and within 10km of the large scale Rainy River gold-silver deposit recently acquired by New Gold Inc.

 Demonstrated regional gold potential

• New Gold acquisition of Rainy River Resources Limited completed in October 2013 valued at ~C$310 million

• New Gold has measured & indicated mineral resources of 6.24Mozs averaging 1.09 g/t gold with significant silver values at Rainy River*

Rainy River Tenements Close proximity to New Gold’s Rainy River Gold Project

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• Measured mineral resources of 1.04Moz at 1.21 g/t

• Indicated mineral resources of 5.2Moz at 1.07 g/t

• Inferred mineral resources of 773kozs of gold averaging 1.16 g/t gold

• New Gold Inc. press release: “New Gold Announces its Rainy River Feasibility Study Results” dated January 16[th] , 2014

www.chalicegold.com

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• Chalice acquired 10.1% of GeoCrystal Limited, with options to earn up to 19.9% and conditional first right of refusal on future financings up to a 51% stake

• GeoCrystal is earning into 70 per cent of Meteoric Resources’ 400km2 Webb Diamond Project in Western Australia

• More than 80 discrete aeromagnetic anomalies identified with potential to be kimberlite pipes

• Fourteen anomalies drill tested nine holes terminating in altered kimberlites

• Diamond indicator mineral analysis suggests a source in the upper mantle under conditions favourable for diamond formation (the diamond stability field)

• Four microdiamonds identified in recent loam sampling, with one microdiamond recovered from aircore drillhole over magnetic kimberlite

Webb Diamond Project Tenements Aeromagnetic image showing discrete anomalies potentially reflecting kimberlite pipes.

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About Diamonds and Kimberlite

Diamonds occur naturally at depths greater than 150 kilometres beneath the earth’s crust and are carried to the surface of the earth by volcanic activity. As this molten mixture of magma (molten rock), minerals, rock fragments and diamonds approaches the earth’s surface it begins to form a pipe-like structure shaped like a champagne flute. These pipes of igneous rocks are called kimberlites or kimberlite pipes and are composed of certain minerals called kimberlite indicator minerals, upper mantle rock fragments and other trace minerals. Shallow lakes may form in the resulting inactive volcanic crater associated with an underlying kimberlite pipe.

• Processing of further 20 drill samples underway

www.chalicegold.com

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• The Oodnadatta & Marla Projects (“O&M Projects”) Projects comprise 16 granted Exploration Licences (7,746km2) in the Gawler Craton

• The province has high iron oxide-copper-gold-uranium (IOCGU) endowment and hosts deposits such as Olympic Dam, Prominent Hill and Carrapateena

• Chalice has the right to earn up to 51% of the projects by funding an initial A$2.5 million and 70% by sole funding a further A$5.5 million

• There is no minimum spend required before withdrawal

• Marla Project: Drilling underway to test several high priority target areas where gravity and magnetic anomalism coincide with complex structural interactions

• Oodnadatta Project: Several significant coincident magnetic and gravity features have been identified – detailed ground gravity planned to refine drill targets

UEQ – Oodnadatta And Marla Tenements Aeromagnetic image covering the northern Gawler Craton, South Australia.

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• The first stage of exploration has a budget of A$800,000, including up to 2,000m diamond drilling on the Marla Project

• Drilling commenced in early November 2013

www.chalicegold.com

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Mogoraib North Joint Venture (60% Chalice : 40% ENAMCO)

550 sq km tenement located just 10km north of Nevsun’s Bisha Mine

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• Bisha Mining Share Company (BMSC) completed 18,892 meters of drilling at the Northwest Zone in 2013

• Delineated a new poly-metallic massive sulphide deposit with a maiden mineral resource estimate expected in early 2014

Drilling Confirms Discovery of New Cu-Zn VMS system Encouraging results with strong similarities to North West Zone on adjacent Bisha property

Hole	Depth	Thick ness	Copper	Zinc	Gold	Silver
MOGD 21	145-150m	5m	0.86%	1.33%	0.1g/t	7.48g/t
MOGD 21	154.5-157m	2.5m	0.49%	1.18%	0.28g/t	8.22g/t
MOGD 25	128-129m	1m	0.25%	1.08%	-	10.3g/t
MOGD 29	171-172m	2m	0.82%	2.01%	1.08g/t	10.4g/t
MOGD 32	91-92m	1m	0.05%	2.13%	0.02g/t	7.9g/t
MOGD 53	100-107m	7m	0.52%	1.00%	0.13g/t	7.04g/t
MOGD 53	181-186.6m	5.6m	0.95%	0.68%	0.13g/t	8.91g/t

• Two phases of diamond drilling completed

• Disseminated, stringer and massive to semi-massive sulphides intersected in wide-spaced holes over 6km strike length

• Results suggest grades and thickness increase to the south

• The Northwest Zone is adjacent to Chalice’s Mogoraib North property with geological trends extending northwards into our ground

www.chalicegold.com

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Strong exploration, development and operating experience
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Bill Bent, Managing Director; BSC (Chem Eng), MBA, AusIMM

• Over twenty years experience in the resources industry

• Previously Chief Development Officer and VP Business Development at Mirabela Nickel

• Ex-Director of PwC and Mainsheet Corporate providing corporate advisory services to the mining/resources sector

• Seven years technical experience on oil & gas feasibility studies for large/small operators at Genesis Oil & Gas (UK)

• • Started career as metallurgist at Anglo Gold (South Africa)

Doug Jones, Technical Director - PhD, AusIMM, CPGeo

• Geologist with over thirty years experience in international mineral exploration

• Extensive experience in Australia, Africa, the Americas and Europe

• Instrumental in discovery of the Siguiri gold mine in Guinée

• • Non-executive director of TSX- and AIM-listed Minera IRL Limited and TSX- and AIM-listed Serabi Mining plc

Steven Chadwick, Technical Manager, BAppSc, AusIMM

• Mining executive with over thirty five years experience in the mining industry, incorporating technical, operating and management roles

• Director and consultant to Teck Resources’ Australian subsidiary company for the past 10 years

• Director of TSX- & ASX-listed Coventry Resources Inc and ASX-listed BC Iron

Richard Hacker, Chief Financial Officer/Company Secretary; B.Com, ACA, ACIS

• Significant professional and corporate experience in the energy and resources sector in Australia and the UK

• Director of Uranium Equities Limited

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Tim Goyder, Executive Chairman

• Over thirty years experience in the resource industry

• Chairman of Uranium Equities Limited, Non-Executive Director of Strike Energy Limited; Chairman of Liontown Resources Limited

• Major shareholder in Chalice Gold

Anthony Kiernan, Non Executive Director, LLB

• Chairman of BC Iron Limited and Venturex Resources Limited

• Commercial and corporate advisor to several mining/resources companies

• Solicitor with considerable experience in the management and operation of listed public companies

Stephen Quin, Independent Director, RPGeo

• Thirty years experience in mining and exploration

• • President and CEO of Midas Gold Corp.

• Previously President of Capstone Mining Corporation and President and CEO of Sherwood Copper Corporation

• • Prior to joining Sherwood, Mr Quin was Executive Vice President of Miramar Mining Corporation

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www.chalicegold.com

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• Well funded explorer/developer

• ~A$55 million cash

• Experienced Board and Executive Team to drive growth strategy:

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• Development: Newly acquired Cameron Gold Camp Project

• Exploration: Expand resource base at Cameron and satellite projects

• M&A: Actively pursuing additional high quality assets globally

• Trading below cash backing with low cash burn

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www.chalicegold.com

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