First Mining Gold Corp (FFMGF)

[goforthebet]

Chalice gold Mines Ltd.

On June 9, 2016, First Mining completed the acquisition of the Cameron Gold Project from Chalice Gold Mines Limited. Cameron is an advanced-stage resource project located in the highly mineralized Kakagi Lake Greenstone Belt of the Archean-aged Superior Province located in the southern part of western Ontario, approximately 80 km south-east of the town of Kenora. The project consists of a total of 226 unpatented claims, 24 patented claims (mineral rights only), seven mining licenses of occupation (MLO) and four mining leases for a total land package of 44,853 hectares.

https://www.firstminingfinance.com/projects/tier-1/cameron-project/

and

https://finance.yahoo.com/news/chalice-gold-mines-limited-corporate-124500598.html

PERTH , Western Australia , May 2, 2017 /CNW/ - Chalice Gold Mines Limited (ASX: CHN; TSX: CXN – "Chalice" or "the Company") advises that it has lodged a Form 605 "Notice of Ceasing to be a Substantial Holder" in Oklo Resources Limited (OKU.AX) ("Oklo") following the sale of approximately 23.4 million shares in Oklo at a price of A$0.24 for proceeds of A$5.6 million . The sale has resulted in a profit of approximately A$0.8 million and it is expected that the Company will be able to utilize tax losses to offset any capital gain.

In addition, since March 31, 2017 , Chalice has sold a further 2 million shares in TSX-V listed company First Mining Finance (FF.V) for proceeds of C$1.4 million . Since completing the sale of the Cameron Gold Project to First Mining Finance in 2016 for 32.3 million shares in First Mining, Chalice has now sold 25 million shares for proceeds of C$21.3 million .


Chalice continues to hold 7.3 million shares in First Mining Finance which have a current market value of A$4.4 million .

As a result of the abovementioned transactions Chalice will have cash at bank of approximately A$49 million .

Chalice continues to seek quality resource projects internationally through direct ownership. The Company is also concurrently advancing several exciting exploration projects which will include significant drilling programs at the East Cadillac Gold Project in the world class Abitibi Province in Quebec, Canada and the untouched potential of the Latitude Hill Nickel Project in the Musgrave Province of Western Australia .

TIM GOYDER
Managing Director