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Chalice Gold Mines Limited

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

PERTH, WESTERN AUSTRALIA, Feb. 21, 2012 /PRNewswire/ - Chalice Gold Mines ("the Company") ASX:CHN TSX:CXN advises that Ms Leanne Forgione has been appointed as Joint Company Secretary.

Ms Forgione is a current employee of the Company and holds the position of Finance Manager.

Ms Forgione is a Chartered Accountant who has 10+ years of accounting and governance experience within the mining and energy industries.

Ms Forgione joins Mr Richard Hacker in the role of Joint Company Secretary.

About Chalice
Chalice Gold Limited is an exploration and development company which owns a 60% beneficial interest in the high grade, open-pittable Koka Gold Deposit and a substantial, largely unexplored, land package in Eritrea.   The Koka Gold Deposit consists of an "in-pit" JORC and NI 43-101 compliant Indicated Mineral Resource of 5.0 million tonnes grading 5.3 grams of gold per tonne, containing 840,000 ounces of gold. This Mineral Resource includes a Probable Mineral Reserve of 4.6 million tonnes grading 5.1 grams of gold per tonne, containing 760,000 ounces of gold. The Company is focused on developing the Koka Gold Deposit into a low cost gold mine which is expected to produce 104,000 ounces of gold per year over a 7 year mine life at an average cash cost of US$338/oz gold (refer to the 43-101 Technical Report on the Koka Gold Deposit, Eritrea dated 27 July 2010).  Chalice also holds a substantial strategic ground position of 1,372 km2 consisting of licences along strike of the Koka Gold Deposit, and proximal to Nevsun's Bisha Mine. These exploration concessions host numerous, high potential, early and advanced stage gold and base metal exploration targets.  Chalice is undertaking a systematic exploration effort on these exploration concessions with the aim of discovering significant new deposits.

SOURCE Chalice Gold Mines Limited



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