Drilling to recommence at Pyramid Hill Gold Project in late September

Phase 2 air core drill program targeting large-scale high-grade gold discoveries

Highlights

• ~24,500m Phase 2 reconnaissance air core (AC) drill program to commence in late September.
• The same high capacity, multi-purpose AC/RC rig from Phase 1 has been contracted.
• Drilling follows on from the Phase 1 program which successfully defined three large-scale areas of gold and pathfinder anomalism in basement under shallow Murray Basin cover.
• 7,500m planned at the Ironbark Target:
• Step-out drilling planned on the diorite as well as on a second identified magnetic anomaly to refine the target for deeper RC/diamond drilling.
• 10,500m planned at the Karri Target:
• 4,000m planned at the Beech Target:
• A further 2,500m is planned regionally within the ~1,470km² Muckleford Area.
• All statutory approvals received and all land access agreements in place.
• Chalice holds a commanding ~5,140km² land position in this exciting under-explored region.
• Strong cash and investments balance of ~A$33 million ( A$0.12 per share) ensures Chalice is well funded to progress its large-scale systematic exploration program.

PERTH , Western Australia , Sept. 2, 2019 /CNW/ - Chalice Gold Mines Limited ("Chalice" or "the Company") (ASX: CHN | TSX: CXN | OTCQB: CGMLF) is pleased to announce that it is scheduled to commence the second phase of reconnaissance air-core (AC) drilling at the Pyramid Hill Gold Project in the Bendigo Region of Victoria in late September 2019 . All statutory approvals have now been received and all relevant access agreements are in place.

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