Ann: Eritrea Regional Joint Venture , page-4

Chalice Gold Mines Limited (ASX: CHN) advises that it has informed Newmont
Mining Corporation that Chalice will not proceed with a planned regional
joint venture agreement in Eritrea.
The proposed JV, which was outlined in an ASX announcement on July 23,
2010, remained subject to formal documentation, which has not been
completed.
Following the current fully underwritten rights issue Chalice will have cash of
~$16 million and therefore the Board has decided it would be in shareholders'
best interests if Chalice explored the highly prospective tenements in its own
right. The tenements are currently under application.

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