Chalice Gold Mines Limited Commences Trading on TSX

Perth, Western_Australia -- (Marketwire) -- 11/26/10 -- Chalice Gold Mines Limited ('Chalice' or 'Company') (TSX: CXN)(ASX: CHN) is pleased to announce that its ordinary shares have now commenced trading on the main board of the Toronto Stock Exchange ('TSX') under the symbol ('CXN').

Executive Chairman Tim Goyder said: 'We believe the high grade, low cost Koka Gold Deposit and surrounding exploration potential in Eritrea will generate significant interest in Canada, particularly as the Company's profile increases in the North American investment community.'

The Company's ordinary shares will continue to be listed on the Australian Securities Exchange ('ASX') under the symbol 'CHN'. Existing shareholders can trade their shares on the TSX, however, prior to trading on the TSX, shareholders will need to transfer their shares onto the Canadian share register and establish an account with an appropriate stock broker.

The Company's Annual Information Form ('AIF') for the year ended 30 June 2010 has been prepared in conjunction with the Company's TSX listing. The Company has also filed a Technical Report on its Koka Gold Deposit in accordance with Canadian National Instrument 43-101 (released to the ASX on 8 October 2010). The AIF and the Technical Report and other Company filings are also available for review under Chalice's profile on the Canadian System for Electronic Document Analysis and Retrieval ('SEDAR') at sedar.com.


DOUG JONES
Managing Director



Forward Looking Statements

This news release contains forward-looking statements based on assumptions and reflects Chalice's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Chalice. Often, but not always, forward-looking statements can be identified by the use of words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Chalice in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at 22 November 2010 (available on Chalice's website and at sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.

Although Chalice has attempted to identify 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 to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Chalice undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.

ABN 47 116 648 956



Contacts:

Chalice Gold Mines Limited
Mr Tim Goyder
Executive Chairman
(+618) 9322 3960

Chalice Gold Mines Limited
Dr Doug Jones
Managing Director
(+618) 9322 3960


For media inquiries, please contact:

Read Corporate
Nicholas Read
(+618) 9388 1474

Investor Relations (North America):
Chalice Gold Mines Limited
Dr Toni Davies
+1 416 5664378
info@chalicegold.com
www.chalicegold.com