CHALICE MINING LIMITED — Major Shareholding Notification 2022

Nov 9, 2022

Arctis Global LLC AM Towers, 7[th] Floor, 207 Calle Del Parque, San Juan, Puerto Rico 00912-3242

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9[th] November 2022

Dear Chalice Mining Limited,

Disclosure of Long Equity Derivative Positions

We refer to Guidance Note 20: Equity Derivatives, issued by the Australian Takeovers Panel. Terms not defined in this notice have the meanings given to them in Guidance Note 20.

Guidance Note 20 relevantly provides that the non-disclosure of long positions, including long equity derivative positions, may give rise to unacceptable circumstances. Arctis Global LLC, as investment manager of Arctis Global Master Fund Limited (the Fund), discloses the following information.

Identityof the taker:	Arctis Global LLC on behalf of Arctis Global Master Fund Limited
Relevant security:	Chalice Mining Limited (CHN AU Equity)
Price (including reference price, strikeprice, option price etc asappropriate):	N/A
Entry date and number of securities towhich the derivative relates:	Total number of securities to which derivatives relate as at 9thNov2022: 46,728,282 (12.42%)
Type of derivative (e.g. contract fordifference, cash settled put or calloption):	CFDs & Options
Any material changes to informationpreviouslydisclosed:	No information previously disclosed
Relevant interests in securities:	None
Long equity derivative positions andrelevant interests held by the takerand its associates:	46,728,282

Yours faithfully,

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Viraj Mehta Chief Investment Officer Arctis Global LLC