Chalice to Distribute EDI Tax Credits to Shareholders

PERTH, Australia, May 30, 2018 /CNW/ - Chalice Gold Mines Ltd. ("Chalice" or "the Company") (ASX: CHN) (TSX: CXN) is pleased to confirm that it will be participating in the Exploration Development Incentive (EDI) for the tax year ending 30 June 2018.

In March 2015, the Australian Federal Parliament passed legislation introducing the EDI Scheme with effect from 1 July 2014 to run for three years based on an annual application process.  The Australian Taxation Office ("ATO") is the administrator of the Scheme.

The EDI Scheme enables eligible exploration companies to create exploration credits to distribute to shareholders by foregoing a portion of their carried forward tax losses that have arisen from allowable expenditure on "greenfield" exploration.

The Company will distribute $103,320.82 of tax credits to shareholders under the EDI.  The Company currently has 261,210,294 shares on issue, therefore equating to an EDI distribution of approximately 0.0396 cents per share.

The record date for shareholder eligibility under the EDI is 30 May 2018.  For shareholders to be eligible to receive a pro- rata distribution of tax credits from the Company they must hold ordinary shares in the Company as at 5pm (WST) on 30 May 2018.  EDI tax offsets are only available to Australian tax resident shareholders.

Eligible shareholders will be issued EDI tax credits available to them on 30 June 2018 and will be able to claim tax offsets in the 2017/2018 tax year.

SOURCE Chalice Gold Mines Ltd.