Chalice disposes of residual interest in the Gnaweeda Gold Project

Symbol:  ASX: CHN TSX:  CXN
Shares outstanding:    250 million
Fully diluted: 258 million

PERTH, Western Australia, June 13, 2012 /CNW/ - Chalice Gold Mines Limited ("the Company") (ASX:CHN) (TSX:CXN) advises that it has sold its remaining 13.5% interest in the Gnaweeda Gold Project to Archean Star Resources Inc.

The consideration for the sale is 5 million common shares in Archean Star which is listed on the TSX Venture Exchange (TSX-V).

The agreement is subject to the approval of TSX-V.

TIM GOYDER
Executive Chairman

SOURCE Chalice Gold Mines Limited