Chalice Gold Mines Limited - DECEMBER 2014 Quarterly Report and Cashflows

Symbol:                 ASX: CHNTSX:  CXN

Shares outstanding:              282 million

Fully diluted:                         287 million

PERTH, Western Australia, Jan. 30, 2015 /CNW/ - Chalice Gold Mines ("The Company") ASX:CHNTSX:CXN advises that its Activity and Cash Flow Reports for the quarter ended December 31, 2014 have been issued today.  The full texts of these reports are available at the Company's website www.chalicegold.com and under the Company's profile at www.sedar.com.

Quarterly Highlights

• In light of increasing gold prices, Chalice has decided to commence preparation of a Preliminary Economic Assessment (PEA) for the Cameron Gold Project in Ontario, Canada.
• The PEA is expected to be completed this Quarter, laying the foundations for possible feasibility studies.
• Business development and exploration activities continued in Canada and North America, where Chalice is aiming to consolidate its position at the Cameron Gold Project and secure additional high-potential opportunities.
• Near-mine targeting exercise completed at Cameron which will form the basis of the 2015 exploration program, aimed at increasing ounces and enhancing project economics.
• Chalice's balance sheet remains strong with cash of A$42.7M at 31 December 2014.

SOURCE Chalice Gold Mines Limited

please contact: Tim Goyder, Managing Director, Chalice Gold Mines Limited, Telephone [phone]; For media inquiries, please contact: Nicholas Read, Read Corporate, Telephone: [phone]