Chalice Gold Mines : Doray Acquires Highly Prospective Gnaweeda Project

Hole ID

Easting

(MGA 50)

Northing

(MGA 50)

RL

Dip

/Azimuth

Total

Depth

(m)

From

(m)

To

(m)

Interval

(m)

Au Grade

(g/t)

GNRC007

678200

7087135

516

-60/090

253

17

20

3

23.4

GNRC003 and

678080

7087450

516

-60/084

322

48

51

3

12.8

GNRC003

678080

7087450

516

-60/084

322

251

256

5

2.9

GNRC009

677965

7086640

516

-60/090

252

168

174

6

11.9

GNRC005

678070

7087735

516

-60/090

300

277

282

5

7.2

TRCD203-2

678240

7087332

518

-60/090

204.29

142

145

3

6.4

GWL2-8

678156

7087036

515

-90/000

72

58

72

14

6.0

GNRC008

677970

7086750

516

-60/090

286

82

87

5

5.9

G2090-1

678267

7087933

513

-60/180

68

52

68

16

3.7

TB006 and

677985

7086686

515

-60/090

326.90

67

73

6

3.6

TB006

677985

7086686

515

-60/090

326.90

104

110

6

3.6

TR20035E-5

678191

7087403

516

-60/180

62

38

44

6

3.5

GNAC12

678095

7087837

515

-60/090

200

167

179

13

3.5

GNAC13

678023

7086719

516

-60/090

160

134

138

4

3.3

GNRC001

678000

7086850

516

-60/090

258

232

236

4

3.1

GNAC082

676700

7075350

534

-90/000

80

75

79

4

2.9

GNAC4 and

678127

7087437

517

-60/090

166

106

117

11

2.7

GNAC4

678127

7087437

517

-60/090

166

144

152

8

2.1

TR2000E-12

678166

7087880

515

-60/180

89

24

30

6

2.5

TRC204-1

678042

7087436

516

-60/000

203

90

93

3

2.4

TR202-6

678223

7087232

515

-60/270

80

40

58

18

2.4

GNRC002

678215

7087245

516

-60/080

298

216

225

9

2.1

TRCD204-2

677882

7087440

513

-60/090

367

293

297

4

2.0

Hole ID

Easting

(MGA 50)

Northing

(MGA 50)

RL

Dip

/Azimuth

Total

Depth

(m)

From

(m)

To

(m)

Interval

(m)

Au Grade

(g/t)

BN003

678030

7069046

565

-60/315

154.2

113

123

10

18.5

BBP11

678017

7069028

565

-60/315

45

30

36

6

5.9

BN001

678002

7068983

565

-55/315

89.7

78

84

6

2.5

BN005

678042

7069061

564

-60/310

263

145

149

4

2.7

BBP2

677992

7069107

565

-60/315

45

24

27

3

4.1

Criteria

JORC Code explanation

Commentary

Sampling techniques

 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

 All data presented herein is historic and Doray is yet to complete a full validation of the nature and quality of the sampling undertaken. At present, data is taken on face value.

Sampling techniques

 Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

 All data presented herein is historic and Doray is yet to complete a full validation of the nature and quality of the sampling undertaken. At present, data is taken on face value.

Sampling techniques

 Aspects of the determination of mineralisation that are Material to the Public Report.

 All references to mineralization are taken from reports and documents prepared by previous explorers and have been taken at face value.

Sampling techniques

 In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a

30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

 All data presented herein is historic and Doray is yet to complete a full validation of the nature and quality of the sampling undertaken. At present, data is taken on face value and is assumed to have been performed to industry standard, with percussion samples collected on

1m intervals and composited, and diamond core sampled on geological intervals.

Drilling techniques

 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter,

triple or standard tube, depth of diamond tails, face-sampling bit or

other type, whether core is oriented and if so, by what method, etc).

 Various drill types have been used historically including RAB, Aircore, RC and Diamond. At this time hole diameters and detailed

information regarding drilling has not been compiled.

Drill sample recovery

 Method of recording and assessing core and chip sample recoveries and results assessed.

 Doray is yet to complete validation of the data to determine whether this information has been collected in full.

Drill sample recovery

 Measures taken to maximise sample recovery and ensure representative nature of the samples.

 Doray is yet to complete validation of the data to determine whether this information has been collected in full.

Drill sample recovery

 Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

 Doray is yet to complete validation of the data to determine whether this information has been collected in full.

Logging

 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate

 All holes have been geologically logged however the quality and level of detail is yet to be verified.

Criteria

JORC Code explanation

Commentary

Mineral Resource estimation, mining studies and metallurgical studies.

 Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

 All holes have been geologically logged however the quality and level of detail is yet to be verified.

 The total length and percentage of the relevant intersections logged.

 All holes have been geologically logged however the quality and level of detail is yet to be verified.

Sub- sampling techniques and sample preparation

 If core, whether cut or sawn and whether quarter, half or all core taken.

 It is believed that core has been sawn and sampled according to industry standard (half core) however this is yet to be validated.

Sub- sampling techniques and sample preparation

 If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

 Various sampling methods have been employed historically for non- core drilling however the exact nature of this sampling is yet to be fully verified.

Sub- sampling techniques and sample preparation

 For all sample types, the nature, quality and appropriateness of the sample preparation technique.

 It is assumed that all sampling has been undertaken to "industry standard" however this is yet to be verified.

Sub- sampling techniques and sample preparation

 Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

 It is assumed that all sampling has been undertaken to "industry standard" however this is yet to be verified.

Sub- sampling techniques and sample preparation

 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

 It is assumed that all sampling has been undertaken to "industry standard" however this is yet to be verified.

Sub- sampling techniques and sample preparation

 Whether sample sizes are appropriate to the grain size of the material being sampled.

 It is assumed that all sampling has been undertaken to "industry standard" however this is yet to be verified.

Quality of assay data and laboratory tests

 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

 It is assumed that all assaying has been appropriate to mineralization in the Project however this is yet to be fully verified.

Quality of assay data and laboratory tests

 For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

 These tools have not been utilized.

Quality of assay data and laboratory tests

 Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

 It is assumed that all quality control procedures have been appropriate however this is yet to be fully verified.

Verification of sampling

and assaying

 The verification of significant intersections by either independent or alternative company personnel.

 Significant intervals have been taken from historic databases and are assumed correct however these data are yet to be fully verified.

Verification of sampling

and assaying

 The use of twinned holes.

 Doray is yet to twin any holes from the historic work.

Criteria

JORC Code explanation

Commentary

 Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

 It is assumed that previous workers collected all data according to "industry best practice" at the time of collection however this is yet to be fully verified.

 Discuss any adjustment to assay data.

 No adjustments made to assay data.

Location of data points

 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

 It is assumed that previous workers collected this information accurately however this is yet to be fully verified.

Location of data points

 Specification of the grid system used.

 MGA 94 Zone 50 has been used.

Location of data points

 Quality and adequacy of topographic control.

 The local topography in the area is flat and nominal RL's or RL's taken from handheld GPS are assumed to have been used historically.

Data spacing and distribution

 Data spacing for reporting of Exploration Results.

 Various drill spacing has been used at various prospects with examples of the drill spacing shown in the diagrams in this report.

Data spacing and distribution

 Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

 Not applicable as a Mineral Resource or Ore Reserve is not determined.

Data spacing and distribution

 Whether sample compositing has been applied.

 Not applicable as a Mineral Resource or Ore Reserve is not determined.

Orientation of data in relation to geological structure

 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

 The orientation of controlling structures has not been fully determined and a variety of drill orientations have been used historically.

Orientation of data in relation to geological structure

 If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

 N/A

Sample security

 The measures taken to ensure sample security.

 Due to the historic nature of the data, this has not and may not be determinable.

Audits or reviews

 The results of any audits or reviews of sampling techniques and data.

 Doray has not performed any audits at this time.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land

tenure status

 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

 The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

 Doray has reached conditional agreement to purchase the interest of Archean Star Resources Australia Pty Ltd in the Project. This interest entails 100% of P51/2652, E51/1419 and E51/1420, and 88% of E51/926 and E51/927, which are in JV with Chalice Gold Mines Ltd.

 Chalice are diluting from an initial 30% interest (and currently hold

12% interest) in E51/926 and E51/927 to a 0.5% NSR.

 Teck Cominco retains the right to claw-back 75% of Archean Star's interest through the expenditure of $7.5M within 4 years upon the discovery of 1M ozs Au. Should Teck elect not to claw-back, Teck are entitled to a 10% NPI (Net Profit Interest).

 An additional 1% NSR is payable to J.A. Bunting and Associates Pty

Ltd.

 The Project is covered by Doray's Meekatharra North Project Deed with the Yugunga-Nya People.

 No other issues are known of affecting security of tenure or impediments to obtaining a license to operate in the area.

Exploration done by other parties

 Acknowledgment and appraisal of exploration by other parties.

 Previous exploration has been completed on the Project by Dominion Mining Ltd, Newcrest Mining Ltd, Helix Resources Ltd, Teck and Archean Star. However, previous exploration has been focused on stand-alone gold mining operations.

Geology

 Deposit type, geological setting and style of mineralisation.

 Project scale geology consists of Archean greenstone lithologies.

These are cross cut by east-west striking Proterozoic dolerite dykes. Mineralisation observed to date consists of shear hosted mineralisation within mafic rocks, and quartz-tourmaline veins hosted

within gabbroic rocks.

Drill hole

Information

 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in

metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

 If the exclusion of this information is justified on the basis that the

information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should

clearly explain why this is the case.

 Summary of all significant historic drillhole data is attached to this release. These data pertain to all holes drilled that have returned a best Au assay intercept of greater than 3m @ 2g/t Au at the Turnberry-St Annes and Bunarra prospects.

 There is additional historic reconnaissance drilling across other areas on the Project which have not been detailed in this announcement, due to the opinion that it is not relevant to the gold mineralisation discussed. Doray is yet to validate and determine the effectiveness of most of this reconnaissance drilling.

Criteria

JORC Code explanation

Commentary

Data aggregation methods

 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

 Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples

of such aggregations should be shown in detail.

 The assumptions used for any reporting of metal equivalent values should be clearly stated.

 No top-cuts have been applied when reporting results.

 Intercepts are reported for those intervals greater than 3m @ 2.0g/t

Au, with maximum 2m internal dilution.

 No repeat assays have been utilized in averaging of reported assays.

 All assays are based on a historical database, and have been treated on face value. No validation or check assaying has been carried out by Doray.

Relationship between

mineralisation

widths and intercept lengths

 These relationships are particularly important in the reporting of

Exploration Results.

 If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

 If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length,

true width not known').

 Drilling has been undertaken on various drill orientations, and thus does not represent true width intersections. Future work by Doray will involve validation and re-interpretation of historic results and the drilling of additional holes to determine the orientation of mineralisation and thus true widths

Diagrams

 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

 Refer to plan attached

Balanced reporting

 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

 All holes drilled are reported that have results greater than 3m @

2.0g/t Au (minimum 2m internal dilution) for the Turnberry-St Annes and Bunarra prospects. Other historic drilling exists at these

prospects as illustrated in the attached plans. Other regional shallow

drilling has historically been undertaken at other areas in the Project, but are not considered relevant to this announcement.

Other substantive exploration

data

 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

 Only regional aeromagnetic data have been collected at the project.

Doray is yet to validate the effectiveness and suitability of these surveys.

Further work

 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

 Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

 Doray will undertake extensive validation and field confirmation of historic drill and sampling data at the various prospects. Once complete, it is planned that Doray will identify targets for potential mineralisation suitable for mining at processing at its nearby Andy Well Project and undertake drilling programmes to test these targets.