Chalice Gold Mines Limited (ASX: CHN) advises that in support of the Company’s application to list on the Toronto Stock Exchange it has completed a National Instrument 43-101 Technical Report on the Koka Gold Deposit. This report, prepared by AMC Consultants Pty Ltd, is appended to this announcement.

TIM GOYDER

Executive Chairman

Attachment: 43-101 Technical Report on the Koka Gold Deposit

About the Zara Gold Project

The Zara Project comprises four Exploration Licenses and two Prospecting Licenses covering an area of 615km2 situated in northern Eritrea, approximately 160km northwest of Asmara city. Chalice holds a 100% interest in the project subject to Eritrean government participation rights.

The Koka Gold Deposit within the project contains a Probable Reserve of 4.6 million tonnes of ore grading 5.1 grams of gold per tonne and containing 760,000 ozs of gold. This is contained within an Indicated Resource of 5.0 million tonnes grading 5.3 grams of gold per tonne containing 840,000 ozs of gold.

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