Chalice Gold Eritrea

Chalice Gold Mines Limited (ASX: CHN) (“Chalice”) is pleased to announce the appointment of experienced mining executive and mining geologist Mr Stephen Quin P.Geo to the Board as a Non-executive Director, effective immediately.

Mr Quin is currently President and Chief Operating Officer of TSX listed copper producer Capstone Mining Corp. and has over 30 years experience in the mining and exploration industry. Mr Quin was previously President and CEO of Sherwood Copper Corp, prior to its merger with Capstone, which he co-founded and was responsible for the feasibility, permitting, financing and on time and on budget start up of the Minto copper-gold-silver mine in the Yukon, Canada.

Prior to joining Sherwood, Mr Quin was Executive Vice President of Miramar Mining Corp. a TSX listed gold producer and explorer, where he was responsible for the acquisition and subsequent exploration of the world class Hope Bay Gold Project in Nunavut, Canada. Miramar was subsequently acquired by Newmont.

Based in Vancouver, Canada, Mr Quin will use his extensive experience in the Canadian markets and resources sector to assist the Company as it seeks to list on the TSX and advance its flagship Zara Gold Project in Eritrea through to production after the release of the Definitive Feasibility Study, expected mid-2010.

“We are delighted to have secured someone of Stephen’s calibre” said Tim Goyder, Chalice Chairman. “Stephen’s development and operating experience will be invaluable as Chalice evolves from an exploration company to gold producer.” Subject to shareholder approval, Mr Quin will be issued 750,000 share options expiring 30 April 2014 as follows:

187,500 options with an exercise price of A$0.55, vesting on issue.

187,500 options with an exercise price of A$0.65, vesting on 30 April 2011

187,500 options with an exercise price of A$0.75, vesting on 30 April 2012

187,500 options with an exercise price of A$0.75, vesting on 30 April 2013.

RICHARD HACKER

Company Secretary

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