onlyASX: CHN | OTCQB: CGMLF

Julimar - the start of a usenew Ni-Cu-PGE province

in Western Australia

ersonalCorporate Presentation March 2022

Forward looking statements and competent person(s) disclosure

This presentation does not include all available Information on Chalice Mining Limited and should not be used in isolation as a guide to investing in the Company. Any potential investor should also refer to Chalice Mining Limited's Annual Reports, ASX/OTCQB releases, filings on sedar.com and take independent professional advice before considering investing in the Company. For further information about Chalice Mining Limited, visit our website at chalicemining.com

onlyForward-Looking Statement

This presentation may contain forward-looking information, including forward looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, forward-looking statements). These forward- looking statements are made as of the date of this report and Chalice Mining Limited (the Company) does not i tend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to: the impact of the discovery on the Julimar Pr ject's capital payback; the Company's strategy and objectives; the estimation of mineral resources, and the realisation of mineral resource estimates; the likelihood of exploration success; the timing of exploration activities on the Company's projects; access to sites for planned drilling activities; the success of future potential mining operations and hydrogen establishing a role in long-term energy strategies . In certain cases, forward-

uselooking statements can be identified by the use of words such as, "affords", "believe", "continue", "could", " stimate", "expected", "future", "interpreted", "likely", "may", "open", "plan" or "planned", "potential", "targets", "will" or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward- looking statements. Such factors may include, among others, risks related to actual results of current or planned exploration activities; whether geophysical and geochemical anomalies are related to economic mineralisation or some other feature; obtaining appropriate approvals to undertake exploration activities; the results from testing EM anomalies; results of planned metallurgical test work including results from other zones not

ersonaltested yet, scaling up to commercial operations; changes in project parameters as plans continue to be refined; changes in exploration programs and budgets based upon the results of exploration, changes in commodity prices and levels of global demand; economic conditions; grade or recovery rates; political and social risks, accidents, labour disputes and other risks of the mining industry; delays or difficulty in obtaining governmental approvals, necessary licences, permits or financing to undertake future mining development activities; changes to the regulatory framework within which Chalice operates or may in the future; movements in the share price of investments and the timing and proceeds realised on future disposals of investments, the impact of the COVID 19 pandemic as well as those factors detailed from time to time in the Company's interim and annual financial statements, all of which are filed and available for review on SEDAR at sedar.com, ASX at asx.com.au and OTC Markets at otcmarkets.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements, there may be other factors that cause actions, events or results not to be as anticipated, e timated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Authorisation

This presentation has been authorised for release by the Disclosure Committee.

Disclaimer

Whilst care has been exercised in preparing and presenting this presentation, to the maximum extent permitted by law, the Company and its representatives:

  • Make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
  • Accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
  • Accept no responsibility for any errors or omissions from this Presentation.

Mineral Resources Reporting Requirements

As an Australian Company with securities quoted on the Australian Securities Exchange (ASX), Chalice is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of mineral resources in Australia is in accordance with the JORC Code and that Chalice's mineral resource estimates comply with the JORC Code. The requirements of JORC Code differ in certain material respects from the disclosure requirements of United States securities laws. The terms used in this announcement are as defined in the JORC Code. The definitions of these terms differ from the definitions of such terms for purposes of the disclosure requirements in the United States. As a reporting issuer in the province of Ontario, Chalice is also subject to certain Canadian disclosure requirements and standards, including the requirements of NI 43-101. The Julimar Project is a material mineral project for the purposes of NI43-101. The confidence categories assigned under the JORC Code were reconciled to the confidence categories in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards - for Mineral Resources and Mineral Reserves May 2014. As the confidence category definitions are the same, no modifications to the confidence categories were required.

Competent Person and Qualifying Persons Statement

The Information in this presentation that relates to exploration results for the Julimar Project is extracted from the following ASX announcements:

  • "High-gradenickel-copper-palladium sulphide intersected at Julimar Project in WA", 23 March 2020
  • 'More positive results from ongoing metallurgical testwork at Julimar", 16 February 2021
  • "Extensive Ni-Cu Soil Anomalism at Julimar" 9 June 2021
  • "Gonneville High-Grade Zones Extended at Depth", 28 September 2021
  • "New results highlight underground potential at Julimar", 2 March 2022

The information in this presentation that relates to Mineral Resources has been extracted from the ASX announcement titled

  • "Tier-1Scale Maiden Mineral Resource at Julimar" dated 9 November 2021.

The above announcements are available to view on the Company's website at chalicemining.com

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person and Qualified Person's findings are presented have not been materially modified from the

relevant original market announcements.

2

ersonal use only

Chalice - a globally recognised name in mineral exploration

High-performance, results driven culture (discovery DNA)

A team with an

exceptional track

record of finding and defining minesand rewarding shareholders

We work to create sustained value for shareholders and stakeholders

3

only

use

ersonal

One of the largest greenfield PGE-Ni-Cu-Co sulphide discoveries in recent history

Metals essential for green technologies like catalytic converters, batteries and hydrogen

One of the few, large-scalePd-rich deposits outside of

Russia (~40% of global supply)

100% owned by Chalice - full control and maximum leverage

Sulphide metallurgy - able to produce Cu-PGE and Ni- Co-PGE concentrates for a range of global customers

Only ~7% of >30km long Julimar Complex drilled to date

~8,000km2 total landholding in new, totally unexplored West Yilgarn Ni-Cu-PGE Province

  1. tier-1scale, pit-constrainedPd-Pt-Ni-Cu-Co sulphide resource:

330Mt @ ~0.58% NiEq or ~1.6g/t PdEq1 for

equivalent to ~1.9Mt NiEq or ~17Moz PdEq

1 Refer to full Mineral Resource Statement in Appendix 2 3E = Palladium (Pd) + Platinum (Pt) + Gold (Au)

The polymetallic Julimar project is a strategic asset for Australia and the western world

nlyo

Julimar is the first major PGE discovery in

Global Palladium Primary Supply Market Share 2022

Australia and one of the few recent large-scale

Russia

Ni-Cu-PGE discoveries in the western world

38%

use

Pd, Pt, Ni and Co are classified as 'critical

minerals' by most western governments

North

America

15%

The western world is extremely reliant on Russian

Palladium supply (~40% of global supply) -

regional instability has recently sent the Pd price

to a record high (>US$3,000/oz)(1)

ersonal

Strategically located in one of the world's most

Zimbabwe

6%

stable mining jurisdictions and driven by a

commitment to sustainable development

South

Julimar

Africa

37%

Sourc : 'Provision of PGM market intelligence and long-term metal price forecasts' SFA Oxford, March 2021

5

(1) London Metals Exchange March 2022

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Disclaimer

Chalice Mining Ltd. published this content on 16 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2022 01:27:13 UTC.