GOLD: Chalice sells Quebec projects to Chantrell Ventures for $12M

QUEBEC – Australian explorer Chalice Gold Mines has sold its East Cadillac and Kinebik gold properties to Toronto's Chantrell Ventures Corp. of Toronto. Chalice will receive $12 million in shares of a new company and retain a 1.0% NSR on all its Quebec properties that are not subject to other royalties. Chalice will also benefit from a $1.3 million Canadian tax credit. When the deal closes, Chantrell will changes its name to O3 Mining. O3 Mining will be part of the Osisko family. Chalice plans to focus instead of exploration of its Pyramid Hill gold project and King Leopold nickel project in Australia. Please see www.ChaliceGold.com for the 2019 East Cadillac technical report.