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July 13, 2021

Chalice Mining intends to demerge certain gold assets in Australia

Chalice considers the demerger of its gold assets to be the optimal structure for maximising shareholder value.

Chalice Mining is planning to demerge its Pyramid Hill Gold Project and other gold assets in Australia.

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The proposal follows a strategic review of the firm’s portfolio.

Based on the review, Chalice Mining concluded that a demerger of its gold assets would be the optimal structure for maximising shareholder value.

A demerger is expected to create a standalone gold-focused exploration company, targeting Tier-1 discoveries in Victoria and Western Australia. It will hold the largest acreage exceeding 5,000km² in the Bendigo Zone in Victoria.

The Bendigo Zone hosts Kirkland Lake Gold’s Fosterville Gold Mine and the historic Bendigo Goldfield.

The demerger is also expected to help Chalice focus on its Julimar Ni-Cu-PGE project and the new West Yilgarn Ni-Cu-PGE province in Western Australia (WA).

Chalice Mining managing director Alex Dorsch said: “The proposed demerger provides an exciting opportunity for our shareholders to benefit from the creation of a standalone, well-funded Australian gold exploration company with a high-quality asset base in Victoria and WA.

“The board has made this decision after conducting a detailed review of our portfolio in light of the enormous success we have enjoyed over the past 18 months at our flagship Julimar Nickel-Copper-PGE Project in WA.

“The Julimar discovery has transformed the company and unlocked a new world-class mineral province in WA, setting Chalice firmly on course to become a globally significant player in the critical ‘green metals’ space.”

Chalice plans to carry out the demerger during the final quarter of 2021. The move awaits the approval of shareholders and regulators.

Advisers have already been engaged for preparations on the demerger, with the potential deal structure subject to legal, financial and taxation advice.

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