CHALICE MINING LIMITED — Investor Presentation 2015

Feb 8, 2015

POSITIONED FOR GROWTH

• Strong Balance Sheet ~ $43M Cash

• • Cornerstone asset - 1.3 Moz Cameron Gold Project, Ontario, Canada

Disclaimer and CP and QP Statements

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

Information on the Cameron Gold Camp Project

The information relating to the Mineral Resource estimates reported herein for the Cameron Gold Camp Project is derived from the sections of the Technical Report dated 28 July 2014 prepared for Chalice Gold Mines Limited by Mr. Peter Ball of Datageo Geological Consultants 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 information that is included in this report in relation to Mineral Resource estimates reported herein for the Cameron Gold Camp Project is extracted from the ASX Announcement entitled “Chalice Files Updated 43-101 Technical Report” dated 28 July, 2014 and is available to view on www.chalicegold.com and www.sedar.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 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.

The information that is included in this report in relation to Exploration Results reported herein for the Cameron Gold Camp Project is extracted from the ASX Announcement entitled “June 2014 Quarterly Report” dated 30 July, 2014 and is available to view 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 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.

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 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.

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CHALICE SNAPSHOT

Well funded and positioned for growth

Capital Structure (at 06/02/2015)

Major Shareholders:

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Share Price• Major Shareholders: A$0.125
Tim Goyder
Shares on Issue 282 million
14.5%
Franklin Resources
Market Capitalisation ~A$35 million
10.8%
Lujeta Pty Ltd
Rights/Options on Issue 5.3 million
62.9% 7.2%
Paradise Investment
Debt - Management
4.6%
Other
Cash ~A$43 million
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• Experienced Board & Management team

• A$43M cash or cash backing of ~A$0.15

• Strong share register

• ~1.3 million ounces [1] of gold in Ontario, Canada

Board and Senior Management:

Anthony Kiernan	Non-Executive Chairman
Tim Goyder	Managing Director
Stephen Quin	Non-Executive Director
Gary Snow	Chief Operating Officer
Richard Hacker	Chief Financial Officer
Steven Chadwick	Technical Manager

1. Refer to slide 7 for detailed Resource estimate table for the Cameron Gold Project

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THE CHALICE STRATEGY

Chalice’s strategy is to focus on delivering shareholder value through the discovery, acquisition and operation of quality resource projects globally.

The strategy is funded by Chalice’s strong balance sheet. Chalice has implemented this strategy by:

• Advancing the Cameron Gold Project through exploration and land acquisition

• Undertaking targeted business development activities

• Drill test low cost, high potential exploration opportunities

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CAMERON GOLD PROJECT 2015 DIRECTION FORWARD

• Update the revise Coventry Resources Inc. PEA prepared in 2013

• Numerous opportunities identified to improve project economics

• Target the addition of +200,000 oz’s Au within trucking distance of Cameron (+200,000oz’s substantially improves base case economics). Likely to come from a combination of:

• Exploration

• Resource optimisation

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BUSINESS DEVELOPMENT

• Continue to seek high-quality resource projects globally – Near term cash flow potential

• Low to moderate risk jurisdictions

• – Exceptional exploration upside

• Positioning the company for positive market correction

• – Acquire undervalued assets

Chalice will act on the right project at the right time to ensure maximum share holder benefit

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CAMERON GOLD PROJECT OVERVIEW

• Above average grades - fully diluted open pit grade of ~2.0g/t Au

• Low risk mining jurisdiction, with low costs, skilled labour, cheap power and good infrastructure

• Conventional metallurgy – CIL process with good recoveries (92%)

• A lower risk mid-sized gold project that has a realistic chance of being developed

• Excellent near-mine and regional exploration upside to substantially enhance project economics

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CAMERON GOLD PROJECT RESOURCES Advanced open pit / underground gold project in emerging gold province

Deposit	Description	Description	Cut-off Gold g/t	Class	Tonnes	Gold g/t	Gold Oz
Cameron	Open Cut	0.5g/t		Measured	2,872,000	2.3	212,400
	RL>=750m			Indicated	5,417,000	1.76	306,600
				Inferred	881,000	2.07	58,600
				TOTAL	9,170,000	1.96	577,600
	Underground	1.75g/t		Measured	157,000	2.77	14,000
	RL<750m			Indicated	559,000	3.23	58,100
				Inferred	5,709,000	2.78	510,300
				TOTAL	6,425,000	2.82	582,400
Dubenski	Open Cut	1.00g/t		Measured	0	0	0
	RL>=180m			Indicated	806,000	2.28	59,100
				Inferred	392,000	1.44	18,200
				TOTAL	1,198,000	2.01	77,300
Dogpaw	Open Cut	0.5g/t		Measured	0	0	0
	RL>=210m			Indicated	247,000	3.02	24,000
				Inferred	64,000	2.26	4,700
				TOTAL	311,000	2.86	28,700
ALL				Measured	3,029,000	2.33	226,900
				Indicated	7,029,000	1.98	447,500
				Inferred	7,046,000	2.61	591,300
				TOTAL	17,104,000	2.30	1,265,700

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

CAMERON GOLD PROJECT 2015 FOCUS AREAS

 Exploration

• Detailed aeromagetic and VTEM data acquired and interpreted

• Structural targeting done

• Detailed surface geochemistry - 3,262 Mobile Metal Ion (MMI) samples collected

• Targeting exercise completed for 2015 program

• Resource Optimisation

• Finalise updated PEA by April 2015

• Business Development

  • Identified and ranked all targets within trucking distance of Cameron

  • Land position expanded

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• Engaging First Nation host communities

• Environmental Baseline Studies data collection ongoing

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2014 EXPLORATION TARGETING ACTIVITIES

• Completion of aeromagnetic interpretation and targets defined

- 3,267 MMI samples collected, assayed and targets defined

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2014 EXPLORATION TARGETING ACTIVITIES cont.

• Staked new ground (87% increase from 152km[2] to 327.56km[2] )

• Field checking of the VTEM anomalies

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CAMERON GOLD PROJECT 2015 EXPLORATION PLAN

• Top 10 prioritised targets identified through exploration and data review in 2014

• Targets prioritised to maximise success of finding an additional +200,000 oz’s

• Targets to be tested by trenching, mapping, channel sampling and drilling.

• MMI grid will be extended west of Dubenski

• Newly acquired ground – first pass till and base of till lithogeochemical sampling

• Cameron resource re-logging, additional sampling and re-modelling exercise

• Estimated cost of between C$2M to C$2.5M, subject to success

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CAMERON RESOURCE OPTIMISATION

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Holes with lower grade or
unsampled – not included in
model
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Unsampled holes and extensions of
blocks – not included in model
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 Potential to add material oz’s within current resource and open pit outline by re-logging, additional sampling and re-modelling exercise

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Plan View of current resource. Brown areas are potential block extensions not in current resource model. Blue and green are footwall and hanging wall mineralised zones (not included in resource model)

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CAMERON GOLD PROJECT ECONOMICS

Chalice has identified factors which may materially improve Cameron economics:

• Increasing Canadian dollar gold price

• Resource optimisation

• Pit wall slope optimisation

• Additional metallurgical testing has confirmed cyanide consumption and recovery increased to 92.5% with CIL processing

• Material reduction in power costs to 7 cents/kW

• Optimised mine design and scheduling

• The lower C$ and recent drop in oil prices will lower operating costs

• All new equipment and conservative/real capital costs to be applied

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EXPERIENCED BOARD AND MANAGEMENT TEAM Strong exploration, development and operating experience

Tim Goyder, Managing Director

• Over 30 years experience in the resource industry

• • Chairman of Uranium Equities Limited, Chairman of Liontown Resources Limited

• Major shareholder in Chalice

Anthony Kiernan, Non Executive Chairman, LLB

• Chairman of BC Iron Limited and Venturex Resources Limited, director of South Boulder Resources

• • Commercial and corporate advisor to several mining/resources companies

• Previously a solicitor with considerable experience in the management and operation of listed public companies

Gary Snow, Chief Operating Officer

• Geologist with 28 years experience with a career spanning the global mining industry including Intrepid Mines, BHP Billiton, Consolidated Minerals, Placer and Delta.

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Stephen Quin, Independent Director, RPGeo

• 35 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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Steven Chadwick, Technical Advisor, BAppSc, AusIMM

• Mining executive with over 35 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

Richard Hacker, Chief Financial; B.Com, ACA, ACIS

• +20 years professional and corporate experience in the energy and resources sector in Australia and the UK

• Director of Uranium Equities Limited

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SUMMARY: WELL POSITIONED FOR GROWTH Well Funded, Experienced Board and Management, Growth via Development, Acquisition and Exploration

• Well funded explorer/developer

• ~A$43 million cash

• Experienced Board and Executive Team to drive growth strategy:

• Development: Expand resource base and advance the Cameron Gold Project

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

• Exploration: Drill high potential exploration opportunities

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