Chalice Mining Limited ('Chalice' or 'the Company', ASX: CHN | OTCQB: CGMLF) reports the key results of its annual remuneration review for Non-Executive Directors ('NED') and Key Management Personnel ('KMP').

The Board's Remuneration Committee recently completed a comprehensive review of the Company's remuneration structure, supported by external benchmarking against comparator companies. This review determined appropriate levels of Total Fixed Remuneration ('TFR') and the level and composition of incentive-based remuneration for KMPs, as well as appropriate NED fees. The changes in remuneration take into account the Company's substantial increase in exploration and development activities at the Julimar Nickel-Copper-PGE Project in Western Australia, as well as its increased exploration activities across Chalice's portfolio of projects. The changes also reflect the exceptional growth in the Company's market capitalisation over the past year, where it was included in the ASX200 index and was one of the best performing companies on the ASX. Key changes to Chalice's remuneration are summarised below. Further details will be provided in the Company's 2021 Remuneration Report.

Non-Executive Director Fees

To reflect the increased time commitment of NEDs and the demands placed on them to adequately perform their duties given the rapid expansion in the scope of the Company's activities, as well as the change in nature of those activities as the Company transitioned from early-stage exploration to resource definition and project studies, director fees have been adjusted as set out below. In addition, from 1 July 2021, options will no longer be awarded to non-executive directors as part of their remuneration (in prior years, options had been issued to reduce costs).

Contact:

Alex Dorsch

Tel: +61 8 9322 3960

Email: info@chalicemining.com

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