Mr. Bill Bent reports

CHALICE FILES UPDATED 43-101 TECHNICAL REPORT

Chalice Gold Mines Ltd. today filed an updated and revised technical report, and mineral resource estimate on the company's Cameron gold camp project in Canada with the Canadian securities regulators. The report has been prepared in accordance with Canadian National Instrument 43-101 and forms part of the company's continuing disclosure obligations for its listing on the Toronto Stock Exchange, and is also in accordance with JORC code (2012 edition). A copy of the report can be obtained from SEDAR or from the company's website.

Cameron gold camp project background

The Cameron gold camp project is an advanced exploration project located in the southern part of Western Ontario approximately 80 kilometres southeast of the town of Kenora. The project currently consists of two project areas, namely Cameron and West Cedartree, both owned 100 per cent by the company. The Cameron gold deposit lies within the Cameron project area, whilst Dubenski and Dogpaw are located eight to 10 kilometres west of the Cameron deposit on the West Cedartree tenements. The combined mineral resources for the three deposits comprising the Cameron gold camp project at cut-off grades appropriate to location for open-cut and underground mining are summarized in the attached table. This revised mineral resource estimate for the Cameron gold camp project updates and replaces previously reported mineral resources announced by the previous project owner, Coventry Resources Inc., for the Cameron and Dubenski gold deposits dated July 5, 2012 (JORC 2004-compliant), and the Dogpaw gold deposit dated May 13, 2013 (JORC 2012-compliant).

           CAMERON GOLD CAMP PROJECT MINERAL RESOURCE STATEMENT

Deposit  Description  Cut-off (g/t)     Class     Tonnes   Gold (g/t)   Gold oz
  
Cameron     Open cut           0.5   Measured  2,872,000         2.3    212,400  
          RL greater                Indicated  5,417,000        1.76    306,600  
         or equal to                 Inferred    881,000        2.07     58,600   
          750 metres                    Total  9,170,000        1.96    577,600  
         Underground          1.75   Measured    157,000        2.77     14,000   
        RL equals to                Indicated    806,000        2.28     59,100   
          180 metres                 Inferred    392,000        1.44     18,200   
                                        Total  1,198,000        2.01     77,300
Dogpaw      Open cut           0.5   Measured                            
          RL greater                Indicated    247,000        3.02     24,000   
         or equal to                 Inferred     64,000        2.26      4,700    
          210 metres                    Total    311,000        2.86     28,700   
All                                  Measured  3,029,000        2.33    226,900  
                                    Indicated  7,029,000        1.98    447,500  
                                     Inferred  7,046,000        2.61    591,300  
                                        Total 17,104,000        2.30  1,265,700

(1) Mineral resources are not ore reserves and do not have demonstrated
economic viability. 
(2) All figures are rounded to reflect the relative accuracy of the estimate.

Qualifying and competent person statement

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 July 28, 2014, prepared for Chalice Gold Mines by Peter Ball of Datageo Geological Consultants, who is a chartered professional, and member of the Australasian Institute of Mining and Metallurgy. Mr. Ball is a consultant to the company and is an independent qualified person as that term is defined in NI 43-101. Mr. Ball has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration, and to the activity being undertaken, 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 NI 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 in this report that relates to exploration results in relation to the Cameron gold camp project (within the technical report dated July 28, 2014) is based on information compiled by Dr. Doug Jones, a full-time employee and director of Chalice Gold Mines, who is a member of the Australasian Institute of Mining and Metallurgy, and is a chartered professional geologist. Dr. Jones 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 NI 43-101. The qualified person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Dr. Jones consents to the release of information in the form and context in which it appears here.

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