Chalice Gold Mines - Strong, shallow EM conductors identified ahead of maiden drill program at King Leopold Nickel Sulphide Project, WA

Drilling planned to commence next month to test multiple new ground-based EM targets

Highlights

• Moving-Loop Electromagnetic (MLEM) survey completed over four previously identified airborne EM targets on 100%-owned hard-rock mineral rights tenure:
• Airborne EM program completed over a previously untested ~8km strike length of Ruins Dolerite outcrop within the King Sound Area (Chalice earning an 85% JV interest):
• Maiden RC drill program planned to commence in September to test the two high-priority Ephesus EM conductors and potentially additional targets defined at King Sound.
• King Leopold Orogen continues to demonstrate the potential for new high-grade nickel sulphide discoveries.
• Chalice well positioned with a ~1,800km² land-holding in this frontier nickel sulphide province and > A$30 million in working capital and investments.
• Nickel market outlook exceptionally strong, driven by electrification across multiple industries and increasing demand for class-1 nickel for use in lithium-ion batteries.

PERTH , Western Australia , Aug. 20, 2019 /CNW/ - Chalice Gold Mines Limited ("Chalice" or "the Company") (ASX: CHN | TSX: CXN | OTCQB: CGMLF) is pleased to advise that it has identified several highly prospective EM conductors from recent ground-based and airborne EM geophysical surveys over the King Leopold Nickel Project in the west Kimberley region of WA (Figure 1).

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