Ann: Massive Sulphides Intersected at Black Hills Priority Target, page-2

• The first diamond drill hole (23BHD001) in the southernmost EM conductor at the Black
Hills Project in the Darling Ranges tenements, 30km from Chalice’s Julimar deposit, has
intersected 5.55m of sulphide mineralisation from 129.45m including:
o 1.15m of Massive Sulphides
o 1.90m of Semi Massive Sulphides
o 2.50m of Disseminated Sulphides (+ 5% sulphide)
• Core samples have been submitted to the laboratory for analysis
• The massive sulphide zone corresponds with the modelled EM conductor location
• A downhole EM survey is planned for hole 23BHD001 on Friday 3rd February
• Diamond Drilling continues, with two more EM conductors still to be drill tested