Chalice Diamond was spun-out as a public company in 2007 through a plan of arrangement with predecessor Golden Chalice Resources Inc. The Company's early success in discovering diamonds is due in part to strategic joint venture partnerships designed to maximize funding and accelerate exploration progress. In general, the costs of diamond exploration in Ontario are one-third or even one-quarter of the typical costs to explore remote projects in Canada's North. In addition, the techniques and tools used to explore for diamonds can also be used to discover gold, nickel, copper, silver and other metals.