Chalice Diamond arranges 10-million-unit financing

2008-03-31 19:05 ET - News Release

Mr. Alan Campbell reports

PRIVATE PLACEMENT

Chalice Diamond Corp. has arranged a private placement for up to 10 million units. The financing will consist of non-flow-through shares at 10 cents per unit and flow-through shares at 15 cents per unit. Each of the units will consist of either one flow-through or non-flow-through common share and one non-flow-through, non-transferable share purchase warrant entitling the holder to purchase one additional non-flow-through common share for a period of two years at a price of 20 cents per share.

In accordance with exchange policies, finders' fees may be paid on a portion of the proceeds raised. The private placement is subject to regulatory approval.

The proceeds of the private placement will be used for exploration on the company's Ontario properties and for general working capital.