Chalice Gold Mines Limited - JUNE 2014 Quarterly Report and Cashflows

Symbol:        ASX: CHNTSX: CXN
Shares outstanding:    287 million
Fully diluted:               291 million

PERTH, Western Australia, July 30, 2014 /CNW/ - Chalice Gold Mines ("The Company") ASX:CHNTSX:CXN advises that its Activity and Cash Flow Reports for the quarter ended June 30, 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

• Chalice successfully renegotiates the existing option agreement over the Dubenski gold deposit, located near the Cameron Gold Project, for C$700,000 plus an additional payment for incremental ounces mined above the first 70,000 ounces.
• Drilling at Cameron intersects good grades over relatively narrow widths at the Juno, Jupiter and Ajax prospects, confirming that mineralised structures with 'Cameron-style' alteration and gold mineralisation extend through the targeted areas.
• Diamond drilling is planned at Cameron to follow up targets generated from further MMI soil geochemistry and geophysical surveys with drilling likely to commence late in the September Quarter.
• GeoCrystal is scheduled to start RC drilling at the Webb Diamond Project in early August 2014.
• Chalice's balance sheet remains strong with cash of A$44M at 30 June 2014.

SOURCE: Chalice Gold Mines Limited

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