Page 1

chalice ASX Announcement 28 July 2021 June 2021 Quarterly Activities Report Gonneville continues to take shape as a world - class , strategic deposit of critical minerals , as indications of prospectivity grow along ~ 26km long Julimar Complex Highlights Julimar Nickel - Copper - PGE Project , Western Australia ( 100 % -owned ) >> ~ 125,000m of drilling completed to date at the ~ 1.8km x 0.9km Gonneville Intrusion . << Step - out drilling has further extended the high - grade G1-5 and G8-10 zones along strike ; all high- grade zones remain open . >> Infill drilling across multiple high - grade zones continues to support the geological model and continuity of the mineralised zones . « < Maiden Mineral Resource Estimate for Gonneville anticipated in Q4 2021 , with drill spacing targeted at maximising resources in the indicated category . « >> Ground gravity data indicates the presence of a largely continuous gravity high extending along the > 26km long Julimar Complex , largely coincident with the magnetic high . Several extensive Ni - Cu +/- Pd soil anomalies identified associated with gravity highs and , in some cases , coincident with airborne EM anomalies at the Baudin , Jansz and new Drummond targets . << State Forest access being progressed , with initial drilling at Hartog targeted to commence in late Q3 2021 , subject to approvals . « Additional private property acquired surrounding Gonneville , taking the total Chalice - owned freehold land to ~ 21km² . Proposed Gold Demerger and IPO « Latest round of drilling at the Pyramid Hill Gold Project in Victoria has delivered exciting results , confirming the belt - scale potential of the project in the prolific Bendigo Zone . >> Chalice intends to pursue a demerger and IPO of Pyramid Hill and its other gold projects in Q4 2021 , subject to finalising the transaction structure and obtaining all necessary shareholder and regulatory approvals . Corporate >> - Strategy and work program developed for FY22 – Gonneville studies to be advanced as quickly as possible , in parallel with initial exploration along the Julimar Complex and across the new West Yilgarn Ni - Cu - PGE Province . « Chalice remains in a strong financial position with ~ $ 100 million in cash as of 30 June 2021 . Registered Office ABN 47 116 648 956 Level 2 , 1292 Hay Street West Perth , Western Australia GPO Box 2890 , Perth WA 6001 T : +61 8 9322 3960 F : +61 8 9322 5800 info@chalicemining.com www.chalicemining.com @chalicemining in chalice - mining