Ann: Sale of Quebec gold projects for C$12 million plus royalty, page-3

Chalice executes binding agreement to sell its East Cadillac and Kinebik Gold Projects in Quebec
to Chantrell Ventures Corp. (to be renamed “O3 Mining Inc.”.
• O3 Mining is a new Osisko Mining Inc. (TSX: OSK) led venture, with a portfolio of resource stage
gold projects and significant exploration potential in the Val-d’Or district.
• O3 Mining set to be well capitalised with C$28-30 million in cash and liquid investments, and well
supported by highly regarded Osisko Mining Inc.
• Consideration includes C$12 million in common shares of O3 Mining, plus a 1.0% NSR royalty
retained on all Chalice owned claims in Quebec without a pre-existing royalty.
• Chalice to also receive additional cash consideration for existing tax credits upon receipt from
Canadian tax authorities totalling ~C$1.3 million, expected to be received by the end of 2019.
• Completion anticipated to occur in early Q3 2019.
• Shares and royalty consideration allows Chalice to maintain upside exposure to the Val-d’Or gold
district and to focus on its high profile portfolio of opportunities in Australia.
• Chalice’s strong financial position (~A$22.8 million or ~A$0.09 per share in working capital at 31
March 2019) allows large-scale and comprehensive exploration programs to continue at its
Pyramid Hill Gold Project in Victoria and King Leopold Nickel Project in WA.