Ann: Quarterly Activities Report and Cashflow, page-2

Grabbed some more.
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HighlightsPyramid Hill Gold Project – Bendigo Region, Victoria, Australia• Maiden 8,500m reconnaissance Aircore (AC) drilling programme commenced within theMuckleford Area, assays received for 4,733m to date.• Additional high quality drill targets have been defined, resulting in a decision to expand the initialAC programme to 15,000m. Drilling to continue until the end of February 2019.• Encouraging early anomalous gold and pathfinder results received to date include South Target: Anomalous gold-in-quartz intersected ~3km to the north along strike fromanomalous gold values in historical drill holes, indicating a possible strike-extensive goldzone associated with the Muckleford Fault; and,o West Target: 15-30m wide zones of anomalous arsenic intersected within four contiguous,100m spaced holes, indicating a possible halo to proximal gold mineralisation.• Depth of cover observed typically 20-50m at the South and West Targets, with the prospectivebasement intersected in 54 of 57 holes (95%).• Gravity geophysics shown to be effective in defining basement highs; highly prospective ‘buriedhills’ in the target basement.• Chalice now a well-established and active explorer in the Bendigo region, with ~4,500km2 ofExploration Licences and applications in three districts (Muckleford, Mt William and Percydale).East Cadillac Gold Project – Quebec, Canada• ~8,100m reconnaissance diamond drill programme commenced this week, testing two largescale, highly prospective targets on 100% Chalice owned tenure Legrand Target: a large ~3.4km x 1.3km gold-plus-pathfinder MMI geochemical anomaly,with similarities to the >16Moz Canadian Malartic gold mine, located ~70km to the west;and,o Anderson Target: a large ~2.3km x 0.5km gold-plus-pathfinder MMI geochemical anomalylocated on a sub-parallel fault north of the Larder Lake – Cadillac Fault.• Targets represent the largest and most coherent geochemical anomalies found to date andrepresent exceptional scale drill targets.Corporate• Strong cash balance of ~A$21.3 million at Quarter-end plus liquid investments and receivables of~A$5.1 million (total current assets of ~A$26.4 million or ~A$0.10 per share).• Growth strategy refined to focus principally on high-impact gold exploration opportunities. Excesscapital return of ~A$10.7 million (A$0.04 per share) to shareholders completed.