Chalice Mining : Corporate Presentation - Investor Webinar

onlyASX: CHN | OTCQB: CGMLF

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

in Western Australia

Corporate Presentation ersonal8 July 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

Forward-Looking Statement

onlyThis 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 Company's strategy and objectives; the timing and estimation of mineral resources, and the realisation of mineral resource estimates; the likelihood of exploration success; the timing of planned exploration and study activities on the Company's projects; access to sites for planned drilling activities; the success of future potential mining operations; the impact of the discovery on the Julimar Project's capital payback and hydrogen establishing a role in long-term energy strategies. In certain cases, forward-looking statements can be identified by the use of words such as, "affords", "believe", "continue",

use"could", "estimate", "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; whether visually identified mineralisation is confirmed by laboratory assays; obtaining appropriate approvals to undertake exploration activities; results of planned metallurgical test work including results from other zones not tested yet, scaling up to commercial operations; changes in project parameters as

ersonalp ans continue to be refined; changes in exploration programs and budgets based upon the results of exploration, changes in commodity prices; economic conditions; grade or recovery rates; political and social risks, accidents, l bour 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 i vestments 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. The Company also refers to the "Key Risks" section of its institutional capital raise presentation released to the ASX on 24 May 2022. 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, eaders 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 designated 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 Mineralised Intrusion Discovered at Julimar", 2 December 2021
• "New results highlight underground potential at Julimar", 2 March 2022
• "Exceptional high-grade extensional results at Julimar ", 2 May 2022
• "New Mineralised Zone Intersected at Dampier Target", 7 July 2022

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

• "Updated Gonneville Mineral Resource", 8 July 2022.

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

A globally recognised name in exploration - a team with a

track record of finding mines and rewarding shareholders

High-performance, results driven culture (mine finding +

commercial DNA)

Our purpose - to find the metals needed to decarbonise the world

Our aspiration - to create a world class, multi-district green metals province

3

Corporate Snapshot

	Top Shareholders1
only			Tim Goyder
		Founder in 2006
				10%
			42.0
	Retail & HNWI
use		48%		Institutional
	Board of Directors		Management
ersonal
	Derek La Ferla (Chairman)		Richard Hacker (CFO)
	Alex Dorsch (MD & CEO)		Kevin Frost (GM Discovery & Growth)
	Morgan Ball (NED)		Bruce Kendall (GM Exploration)
	Garret Dixon (NED)		Soo Carney (GM Env and Comm)
	Stephen McIntosh (NED)		Michael Elias (Study Mgr - Julimar)
	Linda Kenyon (NED)		Chris MacKinnon (BD and Legal Mgr)
				Jamie Armes (Co Sec)

1 As of 31 May 2022

Capital Structure and Financials

Equity listings		Shares out. 376M		Market capitalisation
ASX: CHN
	Shares (F/D) 378M		~A$1.5Bn (@ A$4.00 ps)3
OTCQB: CGMLF
Debt		Cash2		Cash & Investments2
nil		~A$141M		~A$147M

ASX:CHN (A$/share)

10.00

8.00

6.00

4.00

2.00

0.00

Feb-20

Jun-20

Oct-20

Feb-21

Jun-21

Oct-21

Feb-22

Jun-22

Research Analyst Coverage

Bell Potter

David Coates

J.P. Morgan

Al Harvey

Jefferies

Mitch Ryan

Macquarie Bank

Hayden Bairstow

2 As of 31 May 2022; 3 As at 7 July 2022

4

4

only

11Moz 3E2 560kt Ni

360kt Cu

54kt Co

use

1. strategic, large-scaleResource with rare mix of critical minerals in sulphide mineralogy

Green metals at Julimar are essential for decarbonisation technologies like batteries, electric vehicles and hydrogen

ersonal

100% owned by Chalice, and located in one of the world's most attractive mining jurisdictions

Strategy to evaluate a Gonneville starter mine development while the full extent of the mineral system is defined

Direct access to major highway, rail, power, port infrastructure as well as a large local workforce

Exploration upside - 4 rigs drilling greenfield targets along >30km

Julimar Complex

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