CHALICE MINING LIMITED — Investor Presentation 2017

May 7, 2017

~$50m in the bank, a proven team and a clear focus on growth through acquisition

• A$53M in cash and liquid investments: Market cap: A$41M

• On the prowl for high quality acquisition opportunities globally

• High-impact exploration programs underway in Canada and Australia

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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/TSX 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

Forward-Looking Statements

This document may contain forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, forward-looking statements). These forward-looking statements are made as of the date of this document and Chalice Gold Mines Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. 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 results of business development activities which may result in a corporate transaction or investment, the estimation of mineral reserve and Mineral Resources, the realisation 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, will, may would, 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 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 and future exploration activities; the future value of shares owned in First Mining Finance Corp; the timing and receipt of the trailing payment from the Nyanzaga Project; changes in project parameters as plans continue to be refined; future prices of Mineral Resources; possible variations in Mineral Resources or ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly readers should not place undue reliance on forward-looking statements.

QP/CP Statement

The information in this presentation that relates to the West Pilbara Gold Project is extracted from the announcement entitled “Chalice and Red Hill to explore highly prospective WA gold exploration opportunity through farm-in agreement over West Pilbara Gold Project” dated 20 September 2016.The information in this presentation that relates to the Latitude Hill Project is extracted from the announcement entitled “Chalice secures farm-in agreement on west Musgrave Nickel-Copper-PGE Project, WA” dated 22 September 2016. The above announcements are available to view on the Company’s website at 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 announcements and that all material assumptions in the market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s and Qualifying Persons findings are presented have not been materially modified from the original market announcement.

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• A well-funded resource company – listed on ASX and TSX

• Strong balance sheet : A$53m in cash and listed investments

• Proven ability to advance projects and realise value for shareholders:

  • We are looking for further high reward opportunities

  • We have the energy, the people and the capacity

• Impressive track record of prudent capital and financial management

• Strong in-house technical team experienced in exploration and project evaluation

• Market capitalisation of ~A$41m versus cash and liquid investments of ~A$53m

• Diversified exploration portfolio of highly prospective gold, copper-gold and nickel

• projects in Canada and Australia:

  • High-impact drilling programs across 4 projects in next 3 - 4 months

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• A strong platform for growth through exploration success and strategic acquisition

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Key numbers
Share Price	A$0.155
Shares on Issue	263 million
Market Capitalisation	~A$41 million
Rights/Options on Issue	9.5 million
Debt	Nil
Cash at bank (2 May 17)	A$49.0 million
Listed investments 1	A$4.6 million
Trailing payment2	A$5.0 million

1. Market value as at 2 May 2017

2. Due on commercial production at Orecorp’s Nyanzaga Project (ASX: ORR)

A very strong financial platform for growth through strategic acquisition and exploration success

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Traded on ASX and TSX with good volumes and liquidity

Major shareholders: Tim Goyder 16.7% Franklin Resource Fund 11.6%

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Not your usual junior…….Chalice has generated significant profits from prudent and well-timed asset sales and returned more than A$25 million to shareholders

• Advanced the Zara Gold Project to a DFS and sold to Shanghai Construction and ENAMCO:

• Received proceeds of US$114 million (A$83 million after tax)

• Advanced the Cameron Gold Project and then sold to First Mining Finance:

• Estimate that we will crystallize proceeds of ~A$26 million

• Prudently managed our balance sheet whilst awaiting the

opportunity to transact on the next big deal

• Returned A$25 million to shareholders

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• Share buy-backs of A$6 million

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Tim Goyder, Managing Director

• +35 years’ experience in the resource industry

• Successful investor and entrepreneur

• Largest shareholder in Chalice (16.7%)

• Chairman of Liontown Resources (ASX: LTR) and Uranium Equities (ASX: UEQ) and Director or Strike Energy (ASX: STX)

Anthony Kiernan, Non-Executive Chairman LLB

• Commercial and corporate advisor to several mining/resources companies

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

• Chairman – Pilbara Minerals (ASX: PLS), Venturex Resources (ASX: VXR)

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, President and CEO of Sherwood Copper Corporation, Executive Vice President of Miramar Mining Corporation

Morgan Ball, Independent Director B.Com, ACA

• Chartered Accountant with +25 years’ experience

• Highly regarded with significant mining, commercial and corporate experience

• Previous Managing Director and Finance Director of BC Iron (ASX: BCI)

• Chief Financial Officer of Saracen Mineral Holdings (ASX: SAR)

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Dr. Kevin Frost, GM – Exploration BSc (Hons) PhD MAIG

• Geologist with +25 years experience

• Highly regarded geologist within proven history of discovery

• Part of the discovery team for the Flying Fox and Spotted Quoll nickel deposits (Western Areas)

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

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

• Director of Uranium Equities (ASX: UEQ)

Patrick Lengyel, Exploration Manager Pgeo: Canada

• Geologist with +20 years experience

• Extensive experience in orogenic gold and base metals

• • Previously Principal Geologist at Teck Resources Limited

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

• Director of Lycopodium Ltd

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• Strong balance sheet provides capability to target assets with company-making potential without going back to the market

• We continue to seek high quality resource projects globally…… if you have one, we’re here to talk!

• Our preferred criteria include:

• Gold, copper, nickel, zinc, cobalt, lithium

• Favourable jurisdictions (riskier jurisdictions considered if offset by lower geological risk)

• Near-term cash-flow potential

• Quantifiable resource with exploration upside

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Significant in-house expertise to unlock high-potential exploration opportunities in Australia and Canada:

• Canada

• East Cadillac Gold Project (Option with Globex Mining and Richmont Mines)

• Australia

• Latitude Hill Nickel Project (JV with Traka Resources)

• Warrego North Copper, Gold Project (JV with Meteoric Resources)

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• West Pilbara Gold, Copper Project (JV with Red Hill Iron)

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• Strategy to gain strong strategic foothold in one of the most prolific gold endowment trends in the world

• Southern Abitibi hosts several large multi-million ounce gold deposits

• :

• East Cadillac Gold Project

• Located 35km east of 20Moz Val d’Or gold camp in Quebec

• 16km of strike length of the Larder Lake-Cadillac fault

• Exploration underway – C$1M expenditure planned

• Northern Abitibi terrane (Quebec), Kinebik Project:

• 356 claims totaling 18,730 Ha and extending over a 30km strike length Casa Berardi fault

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• Excellent potential to make substantial new discoveries, similar to the NovaBollinger nickel-copper sulphide deposit in WA (14.3Mt @ 2.3% Ni, 0.9% Cu)

• Oz Minerals spending A$36M to earn JV interest at Cassini’s West Musgrave Project (Nebo-Babel)

• Counter-cyclical greenfields nickel-copper-PGE sulphide opportunity in a frontier large Igneous Province (LIP)

• Multiple targets identified:

• High quality airborne Spectrem EM survey identified seven priority targets modelled as shallow bedrock sulphide conductors

• Modelling indicates a depth range of 50-160m below surface, which is viewed as encouraging from the perspective of a potential mineral discovery

• Significant in house capability – Dr Kevin Frost – co-recipient of AMEC Prospector award (2009) for discovery of Spotted Quoll Ni sulphide deposit

• Extensive geophysics program planned to commence in June 17 ahead of maiden drilling program in August 17 – budget of ~$1.5M for 2017 field season

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Latitude Hill
Project
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• Project located near the historical Warrego copper-gold mine [1] in the NT, the largest deposit mined at Tennant Creek (historical production of 1.3Moz of gold, 90,000t of copper from 5Mt of ore at 8g/t Au and 2% Cu).

Warrego North JV

• Initial 2-hole (800m) Reverse Circulation/diamond drilling program planned to test the Parakeet target at depth (~300m depth)

• Drilling will test overlapping magnetic and gravity inversion model below previous RC drill intersections of anomalous lowgrade Cu-Au-Bi mineralisation associated with typical Tennant Creek-style IOCG mineralisation

1. Not owned by Chalice Gold Mines Limited

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• Located in the highly prospective Ashburton Mineral Field in the Western Australia Pilbara region, which is significantly under-explored for gold and base metals

• Located 8km from Northern Star’s Paulsens Gold Mine

• Farm-in deal with Red Hill Iron whereby Chalice may earn up to a 70% interest for total expenditure of A$3M with minimum A$0.5M expenditure commitment

• Field work on identified targets completed. RC drilling being prioritised

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• A strong, well-funded resource company looking for opportunities internationally

• We have the energy, the people and the capacity to undertake company making transactions

• Significant optionality - $53M cash and liquid investments (no debt) vs. market capitalisation of $41M

• Strong, stable management team with significant “skin in the game”

• Aggressive two-pronged growth strategy centred on project acquisition and high-impact exploration

• Diversified portfolio in world-class mineral districts in Canada and Australia

• Active drilling and exploration programs underway on several fronts

• A strong platform for growth through strategic acquisition and exploration success

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Thank you. Questions.

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