Chalice Gold Mines Limited : Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Chalice Gold Mines Limited

ABN

47 116 648 956

We (the entity) give ASX the following information.

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued

Performance Rights

2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

750,000 Performance Rights

3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for payment; if

+convertible securities, the conversion price and dates for

conversion)

750,000 Performance Rights on the following performance conditions and achievement dates:

250,000 Performance Rights - Practical Completion of the plant at the Company's Koka Gold Mine by 30 June 2013

250,000 Performance Rights - First gold pour from the Koka Gold Mine by 30 September

2013

250,000 Performance Rights - Commercial gold production from the Koka Gold Mine for a period of 6 months by 30 June 2014.

The ability to achieve the above performance

conditions is contingent upon Chalice Gold Mines Limited ("the Company") obtaining funding for the development of the Koka Gold Mine. Therefore, the performance condition achievement date for each performance condition will be adjusted for any delay in the Company obtaining funding after 28 February

2012.

4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted

+securities?

If the additional securities do not rank equally, please state: