Symbol: ASX: CHN TSX: CXN Shares outstanding: 250 million Fully diluted: 258 million PERTH, Western Australia, April 13, 2012 /PRNewswire/ - Chalice Gold Mines Limited (ASX:CHN)(TSX:CXN) advises that it has received notification from China SFECO Group (SFECO) that SFECO has completed its due diligence in respect to the purchase of Chalice's 60 per cent interest in the Zara Project in Eritrea in accordance with the agreed timetable. As advised to the ASX on 2 March 2012, SFECO's board approval is required by 26 April 2012. TIM GOYDER Executive Chairman Forward Looking Statements This document may contain 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").