CHALICE MINING LIMITED — M&A Activity 2009

Aug 12, 2009

NO.581 $P.1/1$

No:

ASX Circular

Date: 13 August 2009

Key topics

• 1. Scheme of Arrangement
• 2, Sub-Sahara Resources Limited (ASX Code: SBS)
• 1. Chalice Gold Mines Limited (ASX Code: CHN)

Banks

Client Advisers Compliance Managers Corporate Advisory DTR Operators Institutions ASTC Participants Office Managers Operations Managers Research Analysts

Authorised by

Wade Baggott

Contact

Wade Baggott

Telephone

(08) 9224 0023

ASX Markets Supervision Pty Ltd ABN 26 087 780 489 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.asx.com.au

No responsibility is nonepted for any inaccuracies contained in the matter published.

SUB-SAHARA RESOURCES NL - MERGER WITH CHALICE GOLD MINES LIMITED BY SCHEME OF ARRANGEMENT

Shareholders in Sub-Sahara Resources NL ("SBS") have voted in favour of the Scheme of Arrangement (the "Scheme") giving effect to the merger between Chalice Gold Mines Limited ("CHN") and SBS at a meeting held on 4 August 2009. The Scheme is subject to approval by the Federal Court of Australia and the satisfaction of various conditions precedent under the Merger Implementation Agreement.

Scheme Consideration

SBS shareholders will receive one CHN share for every 10.73 SBS shares held on the implementation date of the Scheme.

Timetable

The following timetable is expected to apply to the Scheme.

Tuesday 4 August 2009	Scheme approved by SBS shareholders at the Scheme meeting.
Wednesday 12 August 2009	Court hearing for approval of Scheme.
Friday 14 August 2009	Effective date $-$ Court orders approving the Scheme to be lodged with ASIC.
	Calculation Date - for the calculation of Scheme consideration.
	SBS shares suspended at close of trading.
Monday 17 August 2009	Trading of new CHN shares on a deferred settlement basis.
Friday 21 August 2009	Scheme record date for determining entitlements to Scheme consideration.
Wednesday 26 August 2009	Share Scheme implementation date - all Scheme participants to be provided with the Scheme consideration to which they are entitled.
	Despatch of transaction confirmation statements.

For further information please refer to SBS and CHN's recent announcements, including the Scheme Booklet released on ASX on 3 July 2009.

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