About Cameron Gold Project

In February 2014, Chalice acquired the Cameron Gold Camp Project (“Cameron Project”) and Rainy River Project from Coventry Resources. The Cameron Project, which comprises of two project areas, namely Cameron and West Cedartree, is an advanced exploration project located in the southern part of western Ontario, approximately 80kms south-east of the town of Kenora.

The greater Cameron Project has total Measured and Indicated Resources of 10,058,000 tonnes at 2.09 g/t for 675,900 ounces and an Inferred Resource of 7,046,000 tonnes at 2.61 g/t for 591,300 ounces (see table below).

Chalice’s immediate goal is to continue to grow and enhance the Cameron Project by securing additional open-pittable high-grade ounces in close proximity to the existing Cameron deposit through acquisition and exploration.

Whilst there has been 120,000m of drilling completed in the vicinity of the Cameron Project, approximately 115,000m has been within the Cameron deposit itself, leaving prospective areas outside the Cameron deposit relatively underexplored.

In addition, the Company will continue to advance key development milestones including First Nations liaison and environmental baseline studies.

Pursuant to TSX listing rules, the Company has prepared an NI43-101 Technical Report for the Cameron Project which can be viewed by clicking here.

The Cameron Gold Camp Project Location

Deposit	Description	Cut-off Gold g/t	Class	Tonnes	Gold g/t	Gold Oz
Cameron	Open Cut	0.5g/t	Measured	2,872,000	2.3	212,400
	RL>=750m		Indicated	5,417,000	1.76	306,600
			Meas+Indic	8,289,000	1.95	519,700
			Inferred	881,000	2.07	58,600
	Underground	1.75g/t	Measured	157,000	2.77	14,000
	RL<750m		Indicated	559,000	3.23	58,100
			Meas+Indic	716,000	3.13	72,100
			Inferred	5,709,000	2.78	510,300

Dubenski	Open Cut	1.00g/t	Measured
	RL>=180m		Indicated	806,000	2.28	59,100
			Meas+Indic	806,000	2.28	59,100
			Inferred	392,000	1.44	18,200

Dogpaw	Open Cut	0.5g/t	Measured
	RL>=210m		Indicated	247,000	3.02	24,000
			Meas+Indic	247,000	3.02	24,000
			Inferred	64,000	2.26	4,700

Total			Measured	3,029,000	2.33	226,900
			Indicated	7,029,000	1.98	447,500
			Meas+Indic	10,058,000	2.09	675,900
			Inferred	7,046,000	2.61	591,300

Table 1: Cameron Gold Camp Mineral Resource

The information relating to the Mineral Resource estimates reported herein for the Cameron Gold Camp Project is derived from the sections of the Technical Report dated 28 July 2014 prepared for Chalice Gold Mines Limited by Mr. Peter Ball of Datageo Geological Consultants who is a Chartered Professional and Member of the Australasian Institute of Mining and Metallurgy. Mr. Ball has sufficient experience in the field of activity being reported to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, and is a Qualified Person under National Instrument 43-101 – ‘Standards of Disclosure for Mineral Projects’. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Ball consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The information that is included in this report in relation to Mineral Resource estimates reported herein for the Cameron Gold Camp Project is extracted from the ASX Announcement entitled “Chalice Files Updated 43-101 Technical Report” dated 28 July, 2014 and is available to view on 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 announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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About Cameron Gold Project