Silicon Investor - Chesapeake Gold (CKG.V)

[LoneClone] Chesapeake Gold Receives a U.S. Patent for Enhanced Metal Recovery from Sulphide...

LoneClone — 4/23/2026 11:53:27 AM

Chesapeake Gold Receives a U.S. Patent for Enhanced Metal Recovery from Sulphide Ores

newsfilecorp.com

April 23, 2026 6:00 AM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 23, 2026) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it has received a U.S. Patent (U.S. Patent Number 12,595,529) for its proprietary method of enhanced metal recovery from sulphide ores. The patent, awarded by the U.S. Patent and Trademark Office, represents a significant achievement in Chesapeake's heap oxidation technology ("Technology").

Jean-Paul Tsotsos, Chief Executive Officer of Chesapeake, stated, "The U.S. patent is an important milestone for Chesapeake. The patent protects Chesapeake's Technology and reinforces the strength of our intellectual property. The patent supports our corporate strategy to build shareholder value from the Technology, unlocking economic value from refractory sulphide gold and silver projects."

In addition to the issued U.S. Patent Number 12,595,529, Chesapeake has patents issued and pending in the U.S., Canada, Argentina, Australia, Brazil, Chile, Mexico, Peru and Africa. Chesapeake continues to optimize its technologies and expand its patent portfolio by filing patent applications for its inventions and improvements.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary heap oxidation technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp.'s flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas[1] with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to the strategic plans and expectations for the Company's technology, patents and pending patents and the anticipated benefits of patent protection and the Company's technology. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the Company's plans to pursue patents in other jurisdictions; the status of pending patent applications; conditions in general economic and financial markets; the price of gold and silver; the ability to apply the technology to other properties; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and status of patent applications; challenges to the Company's patent protection; the outcome of the Company's patent application filings; results of exploration activities; results from the technology; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

_________________________
1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

Source: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Filing of Prospectus Supplement in Connection with P...

LoneClone — 1/15/2026 2:58:15 PM

Chesapeake Gold Announces Filing of Prospectus Supplement in Connection with Previously Announced $15 Million Bought Deal Public Offering

Prospectus Supplement and Base Shelf Prospectus Accessible on SEDAR+

newsfilecorp.com

January 14, 2026 11:21 PM EST | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - January 14, 2026) - Chesapeake Gold Corp. (TSXV: CKG) ("Chesapeake" or the "Company") is pleased to announce that it has filed a prospectus supplement (the "Prospectus Supplement") dated January 14, 2026, to its short form base shelf prospectus (the "Base Shelf Prospectus") dated February 23, 2024, with the securities regulatory authorities in each of the provinces and territories of Canada, other than Québec, to qualify the public distribution of 3,751,500 units of the Company (the "Units") at an offering price (the "Offering Price") of $4.20 per Unit for gross proceeds of $15,000,300 in connection with the Company's previously announced "bought deal" public Offering (the "Offering") (see news releases dated January 12, 2026).

Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $5.65 at any time on or before that date which is 36 months following the Closing Date (as defined herein).

The Offering is being made pursuant to an underwriting agreement (the "Underwriting Agreement") dated January 14, 2026 among the Company and Red Cloud Securities Inc. ("Red Cloud") as lead underwriter and joint bookrunner, and Cantor Fitzgerald Canada Corporation, joint bookrunner (together with Red Cloud, the "Underwriters").

Pursuant to the Underwriting Agreement, the Company has granted to the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part, at any time for a period of up to 30 days after and including the Closing Date, to purchase for resale at the Offering Price up to an additional 535,725 Units of the Company (the "Over-Allotment Units") at the Offering Price to cover over-allotments, if any, and for market stabilization purposes. The Prospectus Supplement to the Base Shelf Prospectus qualifies the grant of the Over-Allotment Option and the issuance of the Over-Allotment Units pursuant thereto.

The Company has agreed to pay the Underwriters a cash fee equal to 6% of the gross proceeds of the Offering (which shall be reduced to 2% for gross proceeds from the sale of Units to certain purchasers on the president's list (the "President's List") agreed to by the Company and Red Cloud), including in respect of any gross proceeds raised on the exercise of the Over-Allotment Option. The Underwriters will also receive, on the Closing Date (as defined herein), as additional compensation, non-transferable broker warrants (the "Broker Warrants") to purchase that number of Common Shares (the "Broker Warrant Shares") equal to 6% of the aggregate number of Units issued by the Company under the Offering (including pursuant to the exercise of the Over-Allotment Option) (which shall be reduced to 2% from the sale of Units to purchasers on the President's List). Each Broker Warrant shall entitle the holder thereof to acquire one Broker Warrant Share at a price of $4.20 per Broker Warrant Share for a period of 36 months from the Closing Date.

The full particulars of the Offering along with the possible exercise and issue of Over-Allotment Units pursuant to the Over-Allotment Option are set out in the Prospectus Supplement.

The Offering is expected to close on or about January 27, 2026 (the "Closing Date"), or on such date as agreed upon between the Company and Red Cloud. The closing of the Offering is subject to the Company receiving all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

Delivery of the Base Shelf Prospectus, the Prospectus Supplement, and any amendments to such documents will be satisfied in accordance with the "access equals delivery" provisions of applicable securities legislation. The Prospectus Supplement, the Base Shelf Prospectus, and any amendment, as applicable, are accessible under the Company's profile on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus, and any amendment, as applicable, may be obtained, without charge, from Red Cloud Securities Inc., attention: Victoria Ellis Hayes, 120 Adelaide St. West, 14th Floor, Toronto, Ontario, M5H 1T1, email: ecm@redcloudsecurities.com by providing the contact with an email address or address, as applicable.

The securities described in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp.'s flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to the Offering, the completion of the Offering and the timing in respect thereof, and the timely receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the continued advancement of the Company's technology; conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay results; geological interpretations from drilling results; timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones, assuming the recovery of the San Vicente 3 concession on the Metates.

The actual results could differ materially from those anticipated in these forward looking statements as a result of risk factors, including the risks to development of the Company's technology, timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles, including the recovery of the San Vicente 3 mineral concession; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; and political instability.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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1 Mexico's biggest undeveloped gold deposits. Bnamericas, Published Tuesday, November 24, 2020.

Source: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Upsize of Previously Announced Bought Deal Public Off...

LoneClone — 1/13/2026 2:18:07 PM

Chesapeake Gold Announces Upsize of Previously Announced Bought Deal Public Offering to $15 Million and Non-Brokered Private Placement With Participation by Eric Sprott

accessnewswire.com

Monday, 12 January 2026 03:33 PM

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / January 12, 2026 / Chesapeake Gold Corp. (TSXV:CKG) ("Chesapeake" or the "Company") is pleased to announce that due to significant investor demand, the Company and Red Cloud Securities Inc. ("Red Cloud"), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the "Underwriters"), have agreed to increase its previously announced "bought deal" public offering (the "Underwritten Offering") from $10,000,002.60 to $15,000,300. Pursuant to the upsized Underwritten Offering, the Underwriters have agreed to purchase for resale 3,571,500 units of the Company (each, a "Unit") at a price of $4.20 per Unit (the "Offering Price").

Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $5.65 at any time on or before that date which is 36 months following the Closing Date (as defined herein).

The Company has granted to the Underwriters an option (the "Over-Allotment Option", and together with the Underwritten Offering, the "Brokered Offering"), exercisable in whole or in part, at any time for a period of up to 30 days after and including the Closing Date, to purchase for resale at the Offering Price additional Units equal to up to 15% of the number of Units sold pursuant to the Underwritten Offering at the Offering Price to cover over-allotments, if any, and for market stabilization purposes.

The Company also intends to complete a non-brokered private placement (the "NB Offering", and together with the Brokered Offering, the "Offerings") of up to 685,000 units of the Company (the "NB Units") at a price of $4.20 per NB Unit for gross proceeds of up to $2,877,000. Each NB Unit consists of one Common Share and one-half of one common share purchase warrant (each whole warrant, a "NB Warrant"). Each NB Warrant will entitle the holder thereof to purchase one Common Share at a price of $5.65 at any time on or before that date which is 36 months following the closing of the NB Offering. The NB Units will be issued on substantially the same terms as the Units and will be subject to a hold period under applicable Canadian securities laws until four months and one day after the closing of the NB Offering.

Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by Mr. Sprott, has indicated his intention to participate in the NB Offering to maintain his pro rata ownership of common shares of the Company following the completion of the Offerings. Prior to the Offerings, Mr. Sprott beneficially owned or controlled 12,883,499 common shares and 1,850,000 warrants representing approximately 17.9% of the outstanding common shares of the Company on a non-diluted basis and approximately 19.9% on a partially diluted basis assuming the exercise of such warrants.

As the NB Offering involves a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 (the "Policy") and Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy, the Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the NB Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101).

The Company intends to use the net proceeds from the Offerings to advance the Company's proprietary oxidative leach technology, the Metates project, the Lucy project and for general working capital.

In connection with the Brokered Offering, the Company intends to file a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated February 23, 2024 (the "Base Shelf Prospectus"), with the securities regulatory authorities in each of the provinces and territories of Canada (except Québec). The Units may also be sold in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and in such other jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

Copies of the applicable offering documents, when available, can be obtained free of charge under the Company's profile on SEDAR+ at www.sedarplus.ca. Delivery of the Base Shelf Prospectus and the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the "access equals delivery" provisions of applicable Canadian securities legislation.

The Base Shelf Prospectus and the Prospectus Supplement will contain, important detailed information about the Company and the Brokered Offering. Prospective investors should read the Prospectus Supplement and the accompanying Base Shelf Prospectus and the other documents the Company has filed on SEDAR+ at www.sedarplus.ca before making an investment decision.

The Offerings are expected to close on or about January 27, 2026 (the "Closing Date"), or on such date as agreed upon between the Company and Red Cloud. The closing of the Offerings are subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange and the entering into of an underwriting agreement among the Company and the Underwriters.

The securities described in this news release have not been, and will not be, registered under the U.S. Securities Act, or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp.'s flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas[1] with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to the Offerings, the completion of the Offerings and the timing in respect thereof, the intended use of proceeds of the Offerings, and the timely receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the continued advancement of the Company's technology; conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay results; geological interpretations from drilling results; timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones, assuming the recovery of the San Vicente 3 concession on Metates.

The actual results could differ materially from those anticipated in these forward looking statements as a result of risk factors, including the risks to development of the Company's technology, timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles, including the recovery of the San Vicente 3 mineral concession; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; and political instability.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

[1] Mexico's biggest undeveloped gold deposits. Bnamericas, Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Completes Sale of Tatatila Project for 14.99% of Mexican Gold ...

LoneClone — 11/13/2025 3:40:42 PM

Chesapeake Gold Completes Sale of Tatatila Project for 14.99% of Mexican Gold

newsfilecorp.com

November 12, 2025 6:30 PM EST | Source: Chesapeake Gold Corp

. Vancouver, British Columbia--(Newsfile Corp. - November 12, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that, pursuant to the definitive agreement previously announced in the Chesapeake news release dated October 1, 2025, it has completed the sale of its Tatatila gold-copper project ("Tatatila") located in Veracruz, Mexico to Mexican Gold Mining Corp. (TSXV: MEX) (OTCQB: MEXGF) ("Mexican Gold").

At closing, Chesapeake acquired 4,451,361 common shares of Mexican Gold (the "Consideration Shares"), representing 14.99% of the outstanding Mexican Gold common shares on an undiluted basis. Chesapeake also received a 1.5% net smelter return royalty (the "Royalty"). Mexican Gold may repurchase 0.5% of the Royalty (reducing the Royalty to 1.0%) for U.S.$500,000 within ten (10) years from the date of execution of the agreement. Prior to the closing date, Chesapeake did not own any Mexican Gold common shares or other securities of Mexican Gold.

The Consideration Shares are subject to a lock up (the "Lock Up"), in addition to the statutory four month and one day hold period commencing on the date of the issuance. On the one (1) year anniversary of the date of issuance and every six (6) months thereafter, 25% of the Consideration Shares shall be released from the Lock Up such that all Consideration Shares shall be released from Lock Up two and one-half (2.5) years from the date of issuance. Chesapeake has also agreed for a period of two and one-half (2.5) years to vote the Consideration Shares in accordance with Mexican Gold management instruction.

Chesapeake acquired the Consideration Shares pursuant to the Assignment Agreement and for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of Mexican Gold. Chesapeake may acquire additional securities of Mexican Gold including on the open market or through private acquisitions or sell securities of Mexican Gold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Chesapeake will file an early warning report in connection with the Transaction on SEDAR+ at www.sedarplus.ca. A copy of the report may be obtained by contacting Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

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1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Sale of Tatatila Project newsfilecorp.com October ...

LoneClone — 10/1/2025 3:25:13 PM

Chesapeake Gold Announces Sale of Tatatila Project

newsfilecorp.com

October 01, 2025 6:00 AM EDT | Source: Chesapeake Gold Corp

. Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces that it has entered into a definitive agreement to sell its Tatatila gold-copper project ("Tatatila") located in Veracruz State, Mexico to Mexican Gold Mining Corp. (TSXV: MEX) (OTCQB: MEXGF) ("Mexican Gold") in exchange for such number of common shares of Mexican Gold representing 14.99% of the outstanding common shares of Mexican Gold at closing (the "Consideration Shares") and a 1.5% net smelter returns royalty (the "Royalty"). Mexican Gold may repurchase 0.5% of the Royalty (reducing the Royalty to 1.0%) for US$500,000 within ten (10) years from the date of execution of the agreement.

The Consideration Shares shall be subject to a lock up (the "Lock Up"), in addition to the statutory four month and one day hold period commencing on the date of the issuance. On the one (1) year anniversary of the date of issuance and every six (6) months thereafter, 25% of the Consideration Shares shall be released from the Lock Up such that all Consideration Shares shall be released from Lock Up two and a half (2.5) years from the date of issuance. Chesapeake has also agreed for a period of two and one-half (2.5) years to vote the Consideration Shares in accordance with Mexican Gold management instruction.

Tatatila is a gold-copper skarn district located in Veracruz State that Chesapeake identified in 2007. Tatatila surrounds Mexican Gold's Las Minas Project, which has a reported NI 43-101 Mineral Resource Estimate and Preliminary Economic Assessment. Several skarn prospects were discovered on Tatatila by Chesapeake, including possible extensions of the Las Minas existing resource.

Closing of the transaction remains subject to TSX Venture Exchange approval, as well as customary closing conditions for a transaction of this kind.

For Further Information:

For more information on Chesapeake's Metates and Lucy Projects and the proprietary sulphide leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

Forward-looking statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to anticipated timing and completion of the transaction. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking information in this new release is based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Such assumptions include the receipt of regulatory approvals, the completion of the transaction pursuant to its terms, timing for completion of the transaction and the availability of funds.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the ability to complete the transaction, receipt of applicable regulatory approvals, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; accidents, labour disputes and other risks of the mining industry, and political instability.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Provides an Update on Its Corporate Developments newsfilecorp.c...

LoneClone — 9/9/2025 2:04:24 PM

Chesapeake Gold Provides an Update on Its Corporate Developments

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September 09, 2025 6:00 AM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - September 9, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide a corporate update on the advancement of its proprietary sulphide leach technology ("Technology") and its regional exploration activities at Lucy.

Jean-Paul Tsotsos, Interim Chief Executive Officer, commented, "The third phase of Metates' metallurgical work is progressing well, as we work towards a prefeasibility study ("PFS") in 2026. Observations from the columns indicate that the oxidation process is meeting expectations. In addition, we are encouraged by the industry's interest in our Technology and the commencement of third-party test work on three prospective opportunities. This testwork represents the first steps in our strategy to create economic value through the commercial application of our Technology. On the exploration front, detailed and systematic exploration on Lucy suggests that the project footprint may have the potential to extend over 3 kilometres, as new geological, geophysical and structural indicators of mineralization are uncovered."

Technology Update - Metallurgical Testwork and Patents

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The third phase of metallurgical testwork on Metates with the Technology is advancing as planned. Two large-diameter PFS columns with Metates material are active, and the test work is on schedule, with early encouraging results (Figure 1). Another 26 variability columns with Metates material are also ongoing, which will be used for the optimization of the PFS technical study that M3 Engineering & Technology Corporation has begun work on (Figure 2). With modifications, the High Pressure Grinding Roll ("HPGR") test columns within the variability program are showing more promising silver kinetics over the columns completed in 2024.

In addition to the Metates testwork, Chesapeake identified numerous projects and mines that may benefit from the application of the technology. Industry interest has led to samples from three projects being sent to the lab for testing, which are also progressing in parallel with the Metates test program. This test work is designed to demonstrate the technology's applicability across a wide range of deposits with the intention of commercializing the process as an eventual significant source of value generation for Chesapeake.

Moreover, the Company has filed its own separate patent applications from this innovative test work. Further technology updates from the metallurgical programs will be provided in 2026.

Lucy Exploration Update

Figure 3: Lucy Exploration Map

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Over the past year, Lucy has made several advancements. An initial structural geology program identified a potential correlation between local folding and the Lucy gold skarn mineralization, providing a new insight into the local mechanism for gold emplacement and the concentration processes. This exploration work further identified new localities on the property that displayed similar structural features, which previously had limited exploration for gold skarn mineralization.

A new mineralized corridor has been identified in the Central Zone located approximately 600 metres west of the Discovery Zone. New trenching and rock channel sampling have returned 29 metres of 0.94g/t gold, including 15 metres of 1.33g/t gold and 34 metres of 0.64g/t gold, including 10 metres of 0.98 g/t gold (Figure 3), which outlines a potential new 200 metre long corridor that is open in all directions. Mineralization within this corridor shares several similar characteristics with the main discovery corridor.

Earlier this year, the Comisión Federal de Electricidad ("CFE"), Mexico's state-owned electric utility, started construction of a new powerline in the western part of the Lucy property, transmitting power along the Pacific coast city network. The new infrastructure provided additional accessibility to the Western Zone of Lucy, which was identified as having geological potential. This zone had seen limited ground exploration activities aside from geophysical surveys. Preliminary mapping has identified the presence of new skarns, and rock channel sampling has returned several occurrences of anomalous copper grades, including 3 metres of subcrop with 2.0% copper, a 2 metre interval of 0.59% copper and another locale with 2 metres of 0.45% copper (Figure 3).

Currently, the team is trenching and collecting rock channel samples and conducting an extensive soil geochemistry program, with sampling grids covering the Discovery, Central, and Western Zones, to expand the scope and scale of the Lucy system. Over the past year, Chesapeake has revised its drilling permit, and a more extensive exploration and drilling campaign is planned at the completion of this phase of work.

The complete assay data table and enlarged revised Lucy exploration map (Figure 3) are available here.

For Further Information:

For more information on Chesapeake's Metates and Lucy Projects and the Technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Sample Preparation, Analysis and QA/QC Program

All the assays reported by Chesapeake in this news release are from rock channel samples. The rock samples were sent to the ALS Global facility in Zacatecas City, Mexico, for preparation of assay pulps, which were subsequently sent to ALS labs in Vancouver, Canada, for analysis.

All rock samples were prepared using a method whereby the entire sample was crushed to 90% passing -2mm, a split subsample of 1000 g was pulverized to better than 85% passing 75 microns and then a 250 g pulp was taken.

Samples were analyzed for gold using 30 or 50 g fire assay fusion with an ICP finish (Method Au-ICP22). Silver and other elements were analyzed by 4 acid digestion with an ICP finish (Method ME-ICP61). Gold (>5 ppm) and silver (>100 ppm) over limits were analyzed by fire assay and gravimetric finish.

Certified standards and blanks from CDN Resource Laboratories were inserted into the sample stream as part of the sampling protocol for the QA/QC program.

Qualified Persons

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the exploration technical information in this release.

Dr. Art Ibrado, P.E., of Fort Lowell Consulting PLLC, is the independent, qualified person responsible for the scientific and metallurgical technical information in this news release in accordance with NI 43-101. The qualified persons have reviewed and approved the contents of this release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to advancement of the Company's proprietary technology, the creation of economic value through commercial application of the technology, preparation of a PFS in 2026, strategic plans, timing and expectations for the Company's exploration and drilling programs at the Company's Lucy project, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones.

Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the continued advancement of the Company's technology, conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones.

The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the risks to development of the Company's technology, timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Addition of Paul West-Sells and Jeff Stieber to the Bo...

LoneClone — 6/23/2025 1:40:50 PM

Chesapeake Gold Announces Addition of Paul West-Sells and Jeff Stieber to the Board of Directors

Jhttps://www.newsfilecorp.com/release/256438

une 23, 2025 6:00 AM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the recent election of Mr. Paul West-Sells to the Board of Directors of the Company (the "Board of Directors") at the Company's annual general meeting of shareholders held on June 18, 2025 (the "Meeting"), together with the returning incumbent directors P. Randy Reifel, Randy Buffington, Doug Flegg, Lian Li, and John Perston.

Mr. West-Sells has more than 25 years of experience in the mining industry and held executive management and senior metallurgist roles for numerous public companies. Mr. West-Sells served as Chief Executive Officer and Chief Operating Officer of Western Copper and Gold Corporation. Prior thereto, Mr. West-Sells was a Senior Metallurgist at Barrick, Placer Dome and BHP Minerals. Mr. West-Sells holds a Ph.D. in Metals and Materials Engineering from the University of British Columbia and continues to lecture at the University of British Columbia as an Adjunct Professor in Materials Engineering.

The Company is also pleased to announce the appointment of Mr. Jeff Stieber to the Board of Directors, effective June 20, 2025. Mr. Stieber brings 19 years of finance, accounting, strategy, and transaction experience to the Company, having served as a senior executive officer with Hycroft Mining, Klondex Mines, Tahoe Resources, White Pine Precious Metals, and Bendito Resources. He has experience across all stages of the mining project lifecycle, from guiding exploration-stage projects to advancing development assets into production and cash flow generation. Mr. Stieber is a Certified Public Accountant in the State of Nevada and a Certified Financial Modeling & Valuation Analyst.

Concurrently, the Company also advises that long-time director Chris Falck has decided to retire to pursue other opportunities and be closer to family. Mr. Falck will continue to serve as an advisor, where his vast knowledge will be leveraged.

P. Randy Reifel, Executive Chairman, commented, "On behalf of the Board, I am excited to welcome both Paul and Jeff to Chesapeake's team. Paul and Jeff bring a diversified wealth of experience and I look forward to their contributions in achieving our corporate objectives and milestones. I also sincerely thank Chris Falck for his years of dedication and commitment to the Company. Chris provided valuable insight and vital contributions as Lead Director and as a member of Board Committees during his tenure."

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Files Appeal in San Vicente 3 Legal Proceedings newsfilecorp.com ...

LoneClone — 12/2/2024 2:39:32 PM

Chesapeake Files Appeal in San Vicente 3 Legal Proceedings

newsfilecorp.com

December 02, 2024 6:00 AM EST | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces that further to its news release dated November 13, 2024, it has filed an appeal with the Collegiate Court in Mexico of the decision of the North Center III and Auxiliary Regional Chamber of the Federal Court of Administrative Justice upholding the cancellation of the San Vicente 3 mineral concession ("San Vicente 3") by the Dirección General de Minas of Mexico ("DGM").

The Company has appealed the decision to the Collegiate Court on the basis that the Chamber had erroneously found that the DGM had complied with mandated cancellation procedures and, therefore, it violated the Company's fundamental rights such as due process and effective judicial protection.

For Further Information:

For more information on Chesapeake, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Announces San Vicente 3 Legal Update newsfilecorp.com November 13...

LoneClone — 11/14/2024 2:44:26 PM

Chesapeake Announces San Vicente 3 Legal Update

newsfilecorp.com

November 13, 2024 7:30 PM EST | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces an update in respect of the legal proceedings initiated by the Company related to its San Vicente 3 mineral concession ("San Vicente 3"). The Company initiated legal proceedings against the Dirección General de Minas of Mexico ("DGM") in response to the DGM's cancellation of San Vicente 3. San Vicente 3 is one of 12 mineral concessions comprising the Metates project. The Metates project totals 4,260 hectares, of which San Vicente 3 covers 700 hectares and encompasses a portion of the Metates mineral resource.

Chesapeake began nullity proceedings to have the cancellation of San Vicente 3 declared as null and void by the North Center III and Auxiliary Regional Chamber of the Federal Court of Administrative Justice (the "Chamber") based on certain procedural arguments. The Chamber dismissed the Company's lawsuit in a 2-1 split decision, with the dissenting judge finding the Company's arguments to be well-founded. The Company plans to appeal before the Collegiate Court and to pursue all legal remedies available to it to protect and defend its position with respect to San Vicente 3.

In the event Chesapeake is unsuccessful in reinstating San Vicente 3, the Company's current resource estimate for Metates and the ability to develop the Metates project as outlined in the Metates PEA may be materially affected.1

Chesapeake remains committed to advancing the Metates project and will continue to move forward with developing our proprietary oxidative leach technology concurrently with these legal proceedings. Additional activities, such as environmental baseline work and related studies in support of the pre-feasibility study will remain a priority for the Company.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas[2] with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, but are not limited to, statements with respect to the Company's legal proceedings to contest the cancellation of San Vicente 3, plans to advance the Metates project and preparing a pre-feasibility study, the continued development of the Company's proprietary oxidative leach technology and other matters. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineral resource estimates, the conditions in general economic and financial markets; the price of gold and silver; and future operating costs.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, whether the Company is successful in its legal proceedings in respect of San Vicente 3; the accuracy of the Company's mineral resource estimates; the impact of the cancellation of San Vicente 3 on Metates; general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; availability of funds; and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1 "Metates Sulphide Heap Leach Project Phase 1 - Amended NI 43- 101 Technical Report Preliminary Economic Assessment" dated January 13, 2023, with an effective date of December 15, 2022 (the "Metates PEA").

2 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Stock Option Grant newsfilecorp.com November 05, 2...

LoneClone — 11/5/2024 12:59:53 PM

Chesapeake Gold Announces Stock Option Grant

newsfilecorp.com

November 05, 2024 6:00 AM EST | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces the grant of stock options under its Stock Option Plan to purchase an aggregate of 65,000 common shares of the Company at an exercise price of C$1.80 per share for a five-year term expiring November 5, 2029. The stock options were granted to officers of the Company. The options will vest and be exercisable on the basis of 25% annually, commencing November 5, 2025, the first anniversary of the date of the grant.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Announces Metallurgical Results newsfilecorp.com October 22, 2024...

LoneClone — 10/22/2024 1:47:44 PM

Chesapeake Announces Metallurgical Results

newsfilecorp.com

October 22, 2024 6:00 AM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - October 22, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide a metallurgical update for its Metates gold-silver project located in Durango State, Mexico and an update regarding the latest developments on the Company's intellectual property rights.

Jean-Paul Tsotsos, Interim Chief Executive Officer, commented, "We are pleased that the metallurgical test work achieved gold recovery rates exceeding 70%, providing verification that our proprietary oxidative leach technology (the "Technology") is working as planned. These test results will be the foundation for a Metates pre-feasibility study ("PFS"). Looking further ahead, the recent acquisition of certain intellectual property rights ( See press release dated June 5, 2024) was a significant strategic milestone for Chesapeake to capitalize on unlocking the economic value of other opportunities in the US$1.5 trillion market of refractory ores globally.1"

Metallurgical Test Work and Patent Update

Over the past year, Metates massive intrusive samples were tested by a variation of crush size and pH conditions together with a proprietary mix of reagents to achieve higher oxidation rates. The samples were oxidized to specific duration targets (i.e. 0 days, ~126 days, ~146 days and ~204 days) to establish an oxidation to precious metal recovery curve. This curve will be the basis for evaluating the optimal duration of oxidative leach and realized precious metals recoveries relative to the cost trade-off for the Technology process and working capital requirements.

To view an enhanced version of this graphic, please visit:
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The above graph illustrates Metates massive intrusive results over the various durations of oxidative leach. As expected, the longer the duration of oxidative leach, higher oxidation levels are achieved. Higher oxidation levels were positively correlated to higher gold recoveries through cyanide leaching. With no pre-oxidation, a 33% gold recovery was realized. After 204 days of oxidation, a ~74% gold recovery was achieved.

The results above also highlight an improvement in silver recoveries by applying the Technology relative to an untreated, non-oxidized baseline sample. After 146 days, the oxidation process increased the silver recoveries by over 20%. Silver represents approximately 30% of the economic value of Metates. Future test work will focus on improving and optimizing the conditions to increase the silver recoveries.

Since acquiring certain intellectual property rights, the Company has filed its own separate patent application from innovative test work.

Next Steps

Technologies identified in Chesapeake's new patent application filing will be applied to the next round of test work. Additional Metates core material from the 2021/2022 drilling program has been collected and is being shipped to the laboratory. The next stage of metallurgical activities will test intrusive material in larger diameter columns to provide final conditions for pilot plant and commercial operations.

The recent metallurgical test work will be incorporated into a PFS. During the past year, the Company has continued its environmental baseline work and related studies in support of the PFS. The PFS will de-risk Metates further and advance the project toward our goal of developing one of America's largest gold and silver deposits. In addition, the Company is actively seeking other sulphide gold deposits where the Technology can be applied to potentially unlock significant economic value.

For Further Information:

For more information on Chesapeake and its Metates and Lucy Projects and the Technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Alternatively, join us at our webinar on Thursday, October 24th, at 8:00 AM PST (11:00 AM EST) using the link below.

api.newsfilecorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Qualified Persons

Dr. Art Ibrado, P.E., of Fort Lowell Consulting PLLC, is the independent, qualified person responsible for the scientific and metallurgical technical information in this news release in accordance with NI 43-101. The qualified persons have reviewed and approved the contents of this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of significant gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates"), located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas2 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I," dated January 13, 2023, and the news release dated February 23, 2023.

Chesapeake has an organic pipeline of satellite exploration properties strategically located near Metates, including the new gold discovery at its Lucy project. In addition, the Company owns 68% of Gunpoint Exploration Ltd., which owns the Talapoosa gold-silver project in Nevada.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to the strategic plans, timing and expectations for the Company's exploration and drilling programs at the Metates Property, including advancing the metallurgical test program, release of final results and preparing a pre-feasibility study, the continued development of the Technology and the application of the Technology to other properties. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineral resource estimates, the conditions in general economic and financial markets; the price of gold and silver; availability and costs of mining equipment and skilled labour; the ability to apply the Technology to other properties, timing and amount of expenditures related to drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; the outcome of the Company's patent application filings; results of exploration activities; results from the Technology; the interpretation of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

_________________________
1 Motta, G., Polcyn, M., & Saragosa, E. (2021, March 23). Refractory Gold Ores: Challenges and Opportunities for a Key Source of Growth. McKinsey & Company. api.newsfilecorp.com (~582Moz of in situ refractory gold reserves and resources globally x US$2,500/oz = US$1.5T)
2 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Extends Lucy Mineralized Corridor by 200 Metres and Drilling Returne...

LoneClone — 7/9/2024 1:41:21 PM

Chesapeake Extends Lucy Mineralized Corridor by 200 Metres and Drilling Returned 5.2 g/t Gold over 6 Metres from Surface

newsfilecorp.com

July 09, 2024 6:00 AM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - July 9, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the Phase 2 drill program has extended the gold-bearing skarn mineralized corridor at its Lucy Project ("Lucy") located in central Sinaloa, Mexico. In total, 12 holes and 939 metres were drilled along the known mineralized corridor, and an additional 101 surface soil and rock geochemistry samples were collected to the Northeast of the drilled gold zone. The Company also completed a 63-line kilometre ground magnetics survey covering the entire property.

Jean-Paul Tsotsos, Interim Chief Executive Officer, commented, "The positive results gathered during this exploration phase continue to add cadence to the robust nature of the mineralized system at Lucy. During this exploration phase, we successfully intersected more high-grade gold mineralization starting from surface, extended the gold mineralized zone from 500 to 700 metres, and the corridor remains open along strike in either direction and at depth. Encouraging soil and rock sampling results have accelerated a detailed mapping program over a larger footprint of the property with additional geochemistry sampling activities also underway. These additional results will be integrated into the next phase of drilling to further uncover the value of this important discovery."

Lucy Plan Map of 2024 Drill Hole Locations, Trenches and Grid Gold Geochemistry

To view an enhanced version of this graphic, please visit:
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Assay Highlights from the Phase 2 Lucy Drilling Campaign:

Hole ID	From (m)	To (m)	Width (m)*	Au (g/t)
LU24-16	24	48	24	1.43
Including	39	48	9	2.29
LU24-18	18	24	6	1.95
LU24-23	0	6	6	5.21
LU24-24	8	14	6	1.90
LU24-26	9.5	30	20.5	1.75
Including	18	30	12	2.82

* Drill intercepts are not considered representative of the true thickness of the gold mineralization.

Lucy Long Section A to A' - Drill holes LU23-06 to LU23-14, LU24-15 to LU24-26 and grid gold anomalies

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Phase 2 Exploration Overview and Future Plans

The 939-metre 12-HQ core drill program successfully extended the known gold-bearing skarn system and filled previous gaps along the mineralized corridor. Drill holes LU24-15 to LU24-17, LU24-24, and LU24-25 added another 150 metres to the gold mineralized corridor along strike to the Southwest and provided early indications of the dip direction of the gold mineralization below the surface. Drill holes LU24-19 to LU24-23 and LU24-26 filled in the gaps and delineated additional mineralization within the known gold zone. The gold mineralization across this expanded corridor continues to display retrograde quartz-calcite, iron oxides, sulphide veinlets and stockwork hosted within garnet and pyroxene skarn and hornfels with zones altered to actinolite and other silicates. Only one hole in the 12-hole program missed the mineralized zone but provided valuable insights into the direction of the mineralization beneath the surface.

In addition to the drilling, a 225-metre by 450-metre area to the Northeast of the mineralized corridor was subject to soil and rock sampling for geochemical analysis. Results from the 101 geochemical grid samples traced a continuous 150-metre-long gold anomaly extending Northeastward along trend from the drilled mineralized corridor. Further to the Northeast are another set of gold anomalies that warrant additional evaluation. These results indicate that the gold-bearing skarn corridor continues to the Northeast, and a detailed follow-up mapping, sampling and trenching program is underway. Based on the success of this exploration technique, a larger 200+ soil and rock geochemistry sampling program has been initiated to cover a larger portion of the Lucy property surrounding the gold mineralized corridor.

Moreover, a 63-line-kilometre ground magnetics survey over the entire property was also completed during this exploration phase. This survey is being integrated with direct magnetic readings gathered from drill core and a past induced polarization ("IP") survey collected over the property in 2017-2018. Early interpretations of these results have outlined several coincident magnetic and IP anomalies that warrant follow-up exploration to determine their relationship with the Lucy gold-bearing skarn system.

Looking forward, Chesapeake is working towards completing the detailed mapping, the expanded soil and rock geochemistry program, additional metallurgical testwork and several early-stage studies to gather mineralogical, petrographic, and geo-structural data to further understand the scope and scale of the Lucy system. Once this work is complete and integrated, a more extensive next phase of core drilling and exploration is planned.

Additional geological cross-sections, selected core photos, management site visit images from March 2024, and the complete assay data table are available here.

Lucy Project Overview

The Lucy project comprises 483 hectares and is 5 kilometres from a paved highway. Lucy claims were staked and acquired by Chesapeake in 2017 and 2018. Mapping, trenching and channel sampling in 2021 and 2022 identified a gold-bearing skarn system. In October 2023, the Company announced the discovery of a high-grade gold-bearing skarn system from a Phase 1 drill program ( See press release dated October 3, 2023). Furthermore, in February 2024, the Company reported that initial metallurgical test results achieved up to 97% gold recoveries in standard bottle roll tests and generally supports that the Lucy mineralization is readily treatable with a standard CN tank leach in a Carbon in Leach/Carbon in Pulp type process ( See press release dated February 13, 2024).

For Further Information:

For more information on Chesapeake and its Metates and Lucy Projects, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Please join us at our webinar on Thursday, July 11th, at 8:00 AM PST (11:00 AM EST) using the link below.
Lucy Project Exploration Update Webinar

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Sample Preparation, Analysis and QA/QC Program

All the assays reported by Chesapeake in this news release are from HQ drill cores which were logged and sampled in a secure storage facility. HQ core was cut using disc rock saws, and a representative one-half sample was selected for assay. Core samples were sent to the ALS Global facility in Zacatecas City, Mexico, for preparation of assay pulps which were subsequently sent to ALS labs in Vancouver, Canada, for analysis.

All core samples, generally at 3-metre sample intervals, were prepared using a method whereby the entire sample was crushed to 90% passing -2mm, a split subsample of 1000 g was pulverized to better than 85% passing 75 microns and then a 250 g pulp was taken.

Samples were analyzed for gold using 50 g fire assay fusion with an ICP finish (Method Au-ICP22). Silver and other elements were analyzed by 4 acid digestion with an ICP finish (Method ME-ICP61). Gold (>5 ppm) and silver (>100 ppm) over limits were analyzed by fire assay and gravimetric finish.

Certified standards and blanks from CDN Resource Laboratories were inserted into the sample stream as part of the sampling protocol for the QA/QC program.

Qualified Persons

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the technical information in this release.

About Chesapeake

Chesapeake Gold Corp's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs at the Company's Lucy project, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones.

Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones.

The actual results could differ materially from those anticipated in these forward looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions.

Forward-Looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Completes Acquisition of Intellectual Property Rights newsfil...

LoneClone — 6/5/2024 12:31:06 PM

Chesapeake Gold Completes Acquisition of Intellectual Property Rights

newsfilecorp.com

June 04, 2024 6:56 PM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it and Alderley Gold Corp., the Company's wholly-owned subsidiary, have completed the acquisition of the patents, patent applications and certain other technology rights and assets for the sulphide leaching technology from Hycroft Mining Holding Corporation and its wholly-owned subsidiaries on the terms as announced in the news release on May 23, 2024 (the "Acquisition"). On closing, Chesapeake paid $2,000,000 in cash and issued 1,026,518 common shares of the Company at a deemed share price of $2.92 per share (the "Consideration Shares"). The Consideration Shares are subject to a hold period expiring on October 5, 2024. The Acquisition is subject to final approval of the TSX Venture Exchange.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates Project located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

For Further Information:

For more information on Chesapeake and its Metates and Lucy Project, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1-778-731-1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

1Mexico's biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Gold Announces Agreement to Acquire Intellectual Property Rights n...

LoneClone — 5/27/2024 1:14:36 PM

Chesapeake Gold Announces Agreement to Acquire Intellectual Property Rights

newsfilecorp.com

May 23, 2024 6:26 PM EDT | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it and its wholly-owned subsidiary, Alderley Gold Corp. (together "Alderley") have entered into an agreement with Hycroft Mining Holding Corporation and its wholly owned subsidiaries (collectively "Hycroft") (the "Purchase Agreement"), to acquire the patents, patent applications, technology and certain other rights (collectively, "Intellectual Property Rights") to a leaching technology which are currently held under license from Hycroft by Alderley (the "Alderley License").

Pursuant to the Purchase Agreement, Chesapeake has agreed to pay C$2,000,000 in cash and to issue 1,026,518 common shares of the Company for the Intellectual Property Rights. The common shares will be subject to a hold period of four months and one day.

Upon closing of the Purchase Agreement:

Alderley will have acquired sole and exclusive ownership and control of the Intellectual Property Rights, which includes issued patents and pending applications in several countries, worldwide;
The existing Alderley License will be terminated, and Alderley's obligation to pay certain royalties and various other obligations under the Alderley License will be extinguished;
No further payments will be due to Hycroft in the future; and
Hycroft will not retain any rights to the Intellectual Property Rights.

Jean-Paul Tsotsos, Interim Chief Executive Officer, commented, "This acquisition is an important milestone along Chesapeake's technology journey, and we look forward to continuing to advance our testwork and heading towards our strategic vision for the Company in the future."

Closing of the transactions under the Purchase Agreement is expected to occur by May 30, 2024 and is subject to approval of the TSX Venture Exchange and other customary closing conditions under the Purchase Agreement.

For Further Information:

For more information on Chesapeake and its Metates and Lucy Projects, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates Project located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas[1] with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Chesapeake has an organic pipeline of satellite exploration properties strategically located near Metates, including the new gold discovery at its Lucy project (see news release dated October 3, 2023). In addition, the Company owns 68% of Gunpoint Exploration Ltd., which owns the Talapoosa gold-silver project in Nevada.

Forward-looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to completion of the transaction. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, including receipt of regulatory approval, the Company's ability to complete the transaction and general economic and financial conditions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the ability to complete the transaction, availability of funds, receipt of applicable regulatory approvals and general economic and financial conditions. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[1] Mexico's biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Announces Preliminary Metallurgical Test Results Demonstrating up to...

LoneClone — 2/13/2024 12:55:18 PM

Chesapeake Announces Preliminary Metallurgical Test Results Demonstrating up to 97% Gold Recoveries at Lucy Project

newsfilecorp.com

February 13, 2024 6:00 AM EST | Source: Chesapeake Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the initial metallurgical test results with up to 97% gold recoveries in standard bottle roll tests at its Lucy Project ("Lucy") located in central Sinaloa, Mexico. Composite materials for the bottle roll tests were collected during the Phase 1 drill program at Lucy, consisting of 8 holes along the identified 500 metre (m) gold-bearing skarn corridor.

Jean-Paul Tsotsos, Interim CEO, commented, "The Lucy discovery continues to shine as an exciting project in Chesapeake's portfolio. These preliminary Lucy metallurgical results outline a simple, conventional processing pathway to gold doré. The next phase of exploration and drilling has commenced on Lucy to better evaluate the footprint and scale of this new discovery."

Table 1: Preliminary CN Bottle Roll Metallurgical Highlights from the Phase 1 2023 Lucy Drilling Campaign:

Composite #	Source Material	Lithology	Gold Grade Au g/t	Silver Grade Ag g/t	Gold Extraction at 24hrs Au %	Silver Extraction at 24hrs Ag %
1	LU23-06 0m to 24m)	Skarn	4.85	2.10	97%	74%
2	LU23-08 (12m to 27m & 36m to 45m)	Skarn / Skarn-Hornfels	0.99	3.57	91%	40%
3	LU23-12 (27m to 51m)	Skarn-Hornfels / Hornfels	0.96	0.64	93%	69%
4	LU23-09 (0m to 24m)	Skarn / Skarn-Hornfels	2.99	1.07	97%	70%

Overview of the Preliminary Metallurgical Work

Four holes were selected across the Lucy mineralized corridor (Figure 1) for the initial metallurgical test work. Each individual hole was then sampled as a unique composite and sent to the SGS laboratory located in Durango, Mexico for analysis. At the lab, composite head grades were established through triplicate fire assay with AAS finish and a four-acid digestion with ICP finish. The composites were crushed and ground to 80% passing 75µm, and bottle roll tests were undertaken for 72 hours.

The results of this initial test work (Table 1) generally support that the mineralization is readily treatable with a standard CN tank leach in a Carbon in Leach ("CIL")/Carbon in Pulp ("CIP") type process and outlines that up to 97% gold recoveries are achievable at Lucy. Furthermore, a duplicate set of the composites was rerun during a separate test of 96 hours and returned similar results within ±1% of the initial tests, affirming these positive results. In all cases maximum extractions for gold were achieved at 24 hours.

Figure 1: Composite Locations Overlain on the Lucy Long Section of the 2021/2022 Trenches and 2023 Drill Holes

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Phase 2 Exploration Campaign

The Phase 2 exploration program is underway at Lucy, which includes 10 HQ drill holes totalling 900m to extend the identified mineralization along the 500m gold-bearing skarn corridor to the Southwest, where untested trenches with mineralization outcrop at the surface. The drill program will also test additional mineralized trenches within the corridor with the primary focus of delineating the dip direction of the mineralized skarn below the surface.

In addition, a reconnaissance mapping and geochemistry program is being undertaken along the strike of the gold-bearing skarn corridor to guide future exploration. This program includes soil, rock, and trench sampling to target the Northeast and Southwest extents of Lucy. Detailed mapping is underway to the Southwest to identify new skarn mineralization and geological structures.

Lucy Project Overview

The Lucy project comprises 483 hectares and is located within 5 kilometres from a paved highway. Lucy claims were staked and acquired by Chesapeake in 2017 and 2018. Mapping, trenching and channel sampling in 2021 and 2022 identified the presence of a gold-bearing skarn system. In October 2023, the Company announced the discovery of a high-grade gold-bearing skarn system from a Phase 1 drill program ( See press release dated October 3, 2023).

Phase 1 Drilling Highlights

Drill hole LU23-06 intersected 24m of 6.11g/t gold from surface
Drill hole LU23-13 intersected 24m of 3.95g/t gold from 3m downhole
Drill hole LU23-10 intersected 30m of 2.57g/t gold from surface

In total, eight holes from this drilling campaign defined a northeast trending zone of skarn at least 500 metres in strike length with significant gold mineralization starting from the surface. The gold zone remains open along strike in both directions and at depth. The mineralization consists of a possible retrograde carbonate, oxides, quartz and sulphides veinlets stockwork hosted within garnet actinolite skarn and hornfels with sulphide layers and disseminations. At this early stage of exploration with uncertain geological orientation and limited drilling coverage, the drill intercepts should not be considered representative of the true thickness of the gold mineralization.

Qualified Persons

Dr. Art Ibrado, P.E., of Fort Lowell Consulting PLLC, is the independent qualified person responsible for the scientific and metallurgical technical information in this news release in accordance with NI 43-101, has reviewed and approved the contents of this release.

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the exploration technical information in this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates Project located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Chesapeake has an organic pipeline of satellite exploration properties strategically located near Metates, including the new gold discovery at its Lucy project (see news release dated October 3, 2023). In addition, the Company owns 68% of Gunpoint Exploration Ltd., which owns the Talapoosa gold-silver project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Alternatively, join us at our webinar on Thursday, February 15th, at 8:00 AM PST (11:00 AM EST) using the link below.
api.newsfilecorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs at the Company's Lucy project, estimates of mineralization from drilling, geological information projected from sampling results, estimates from metallurgical test results and the potential quantities and grades of the target zones.

Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay and metallurgical test results; geological interpretations from drilling results, timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones.

The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1 Mexico's biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

SOURCE: Chesapeake Gold Corp.

[LoneClone] Chesapeake Reports a New Gold Discovery at Lucy Project, Drilling Returned 6....

LoneClone — 10/3/2023 4:21:32 PM

Chesapeake Reports a New Gold Discovery at Lucy Project, Drilling Returned 6.1 g/t Gold over 24 Metres from Surface

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - October 3, 2023) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce a significant gold discovery at its Lucy Project ("Lucy") located in central Sinaloa, Mexico. In total, 14 holes were completed in the 2023 campaign, with approximately 1,710 metres drilled. Lucy is one of several regional exploration properties within Chesapeake's Mexican portfolio.

Alan Pangbourne, CEO, commented, "While Chesapeake's primary focus has been advancing the metallurgical work and the oxidative leach technology at Metates, we have continued systematic exploration on our highly prospective regional projects. We are very excited about the first phase of drill results at Lucy. The drill results suggest a mineralized skarn that outcrops at surface, and the system has been traced over a strike length of at least 500 metres. Follow-up exploration is planned to better evaluate the scope and scale of this new discovery."

Lucy Plan Map of Trenches and 2023 Drill Hole Locations

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Assay Highlights from the 2023 Lucy Drilling Campaign:

Hole ID	From (m)	To (m)	Width (m)	Au (g/t)
LU23-06	0	24	24	6.11
LU23-08	3	45	42	0.88
LU23-09	0	30	30	2.57
Including	0	24	24	3.12
LU23-10	0	21	21	1.95
Including	0	9	9	3.30
LU23-13	3	27	24	3.95
Including	12	24	12	5.44

Lucy Long Section A to A' - Trenches 1, 3, 7, 8 & 10, and drill holes LU23-06, LU23-08, LU23-09, LU23-10, LU23-11, LU23-12 & LU23-13

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Lucy Project Overview

The Lucy project comprises 483 hectares and is located within 5 kilometres from a paved highway. Lucy was staked by Chesapeake in 2017, and the initial exploration found zinc-bearing skarns to the Northwest ( See press release dated June 21, 2018). Follow-up mapping, trenching and channel sampling in 2021 and 2022 identified the presence of a gold-bearing skarn system in the Southeast.

In June 2023, a 1,710 metre 14-hole HQ core drill program was initiated to test this gold-bearing skarn system. Holes LU23-05 to LU23-14 were collared over the gold zone defined by trenching and channel sampling. The eight holes discovered a northeast trending zone of skarn at least 500 metres in strike length with significant gold mineralization. The gold zone remains open along strike in both directions and at depth. The mineralization consists of a possible retrograde quartz-calcite, iron oxides and sulphides veinlets stockwork hosted within garnet skarn and hornfels.

Chesapeake plans to undertake further detailed mapping, rock sampling and trenching as well as mineralogical and petrographic studies prior to the next phase of drilling., Further exploration and analysis are required to better understand the scope and scale of the Lucy gold-bearing skarn system and the controls on the mineralization. At this early stage of exploration with uncertain geological orientation and limited drilling coverage, the drill intercepts should not be considered representative of the true thickness of the gold mineralization.

Drill holes LU23-01 to LU23-04 were follow-up reconnaissance holes on the zinc-bearing skarns in the Northwest. The four holes were drill testing the extension of the known zinc mineralization to the East (directly North of the gold discovery). No significant gold values were intercepted, but the zinc-bearing skarn has now been traced for approximately 1.5 kilometres along strike.

Additional geological cross-sections, selected core photos and the complete assay data table are available at api.newsfilecorp.com.

Sample Preparation, Analysis and QA/QC Program

All the assays reported by Chesapeake in this news release are from HQ drill cores which were logged and sampled in a secure storage facility. HQ core was cut using disc rock saws, and a representative one-half sample was selected for assay. Core samples were sent to the ALS Global facility in Zacatecas City, Mexico, for preparation of assay pulps which were subsequently sent to ALS labs in Vancouver, Canada, for analysis.

All core samples, generally at 3-metre sample intervals, were prepared using a method whereby the entire sample was crushed to 90% passing -2mm, a split subsample of 1000 g was pulverized to better than 85% passing 75 microns and then a 250 g pulp was taken.

Samples were analyzed for gold using 50 g fire assay fusion with an ICP finish (Method Au-ICP22). Silver and other elements were analyzed by 4 acid digestion with an ICP finish (Method ME-ICP61). Gold (>5 ppm) and silver (>100 ppm) over limits were analyzed by fire assay and gravimetric finish.

Certified standards and blanks from CDN Resource Laboratories were inserted into the sample stream as part of the sampling protocol for the QA/QC program.

Qualified Persons

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the technical information in this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates Project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas1 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Chesapeake also has an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 68% of Gunpoint Exploration Ltd., which owns the Talapoosa gold-silver project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne or Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Alternatively, join us at our webinar on Thursday, October 5th, at 8:00 AM PST (11:00 AM EST) using the link below.

api.newsfilecorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs at the Company's Lucy project, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones.

Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the conditions in general economic and financial markets; the price of gold and silver; the availability and costs of mining equipment and skilled labour; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures related to drilling programs; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones.

The actual results could differ materially from those anticipated in these forward looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1 Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

[LoneClone] Chesapeake Announces Metallurgical Testwork Update newsfilecorp.com Vancouver...

LoneClone — 9/6/2023 1:35:34 PM

Chesapeake Announces Metallurgical Testwork Update

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Vancouver, British Columbia--(Newsfile Corp. - September 6, 2023) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide a metallurgical and mineralogical update for its world-class Metates gold-silver project located in Durango State, Mexico.

Alan Pangbourne, CEO, commented, "We are very encouraged with the latest results from this phase of metallurgical testwork. A systematic, methodological approach individually testing several parameters under different conditions is being undertaken in 42 columns. The results have identified certain parameters that provide the conditions where the leach technology oxidizes mineralization at a faster rate than our previous testwork. Under these conditions, we believe the targeted oxidation curve will be achieved and provide the foundation for preparing the pre-feasibility study early next year."

Metallurgical Testwork Program

Since our last update in September 2022 (NR04-2022), our metallurgical work has continued to investigate various parameters to improve the oxidation rates of our sulphide leach technology. The focus has included investigating several ways to accelerate the oxidation kinetics and to understand how to improve and optimize the oxidation rate.

Lab Photo with Over 40 Columns Currently Under Oxidation or Cyanide Leach

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The parameters tested during this stage of work include: (i) finer crushing sizes from ½" to ?" to ¼" and the use of High Pressure Grinding Rolls ("HPGR") to produce a very fine crush at approximately 3mm; (ii) varying reagent strengths; (iii) targeting different pH's; (iv) testing on/off irrigation; (v) applying other oxidants; and (vi) varying air injection rates. As illustrated in the lab photo above, over 40 columns are currently under oxidation or cyanide leach.

Oxidation Rates for the Metates Massive Instrusive Samples

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The above graph illustrates the oxidation rates for the Metates massive intrusive samples and highlights the improved oxidation rates relative to previously released column results. The new conditions are showing very encouraging oxidation rates, the Phase 3 columns have achieved an oxidation level of 15% to 16% in just 60 days, which when compared to the initial sighter column is 50% faster and for the Phase 2 columns over 300% faster. These Phase 3 columns will be transitioned to cyanide leach once they achieve the target oxidation above 35%.

Mineralogical Investigations

At the completion of the Phase 2 metallurgical testwork, a comprehensive mineralogical program was initiated to analyze how the various sulphides were oxidizing. Twelve samples were taken from eight Phase 2 columns (C2, C4, C5, C7, C10, C12, C14 and C16). Samples were both post-oxidation or post-oxidation and cyanide leach. Of these 12 samples, a third were polished into thin sections for observation through a reflected light microscope (3 samples), and the remaining were polished into pucks for Scanning Electron Microscopy ("SEM") - Microprobe analysis (9 samples). Within these nine microprobe samples, 103 areas of interest were identified for optical observation and in total 990 energy dispersive x-ray spectrometer chemical analyses were conducted on these areas to determine the minerals observed.

Figure 1a and 1b

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The mineralogical work identified several examples where the alkaline solution(s) had actively oxidized and transformed the sulphide minerals present within the Metates host rocks. Microprobe imaging of sample 11 in Figure 1a shows an example of an iron sulphide marcasite mineral (another form of pyrite) that has been altered completely from its original chemistry, but the radial form of the mineral remains intact. The sulphur content within this mineral has been stripped away and replaced by oxygen, forming hematite, the same iron oxide that forms when iron rusts. An example of an unaltered marcasite mineral is illustrated in Figure 1b for reference1, evidencing the same radial growth of the crystals.

Sample 11 comes from column 12, which was an intrusive breccia sample from Metates that was crushed to ½ inch, and the sample examined was the passing 35 mesh size fraction. This sample had been oxidized for 180 days with an alkaline solution prior to sampling for SEM microprobe work (no cyanide leaching was performed at this stage). This example highlights the breakdown of iron sulphide minerals through the oxidative leach technology. The partially exposed precious metals locked within are liberated and can be dissolved through the standard cyanide leach process typical of conventional oxide heap leaching projects.

Figure 2

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Microprobe imaging of sample 7 in Figure 2 captures an example of another iron sulphide mineral that was once pyrite, which is in the process of altering to hematite or limonite. This image shows the process of preferential mineral oxidation that has followed along the cleavage planes (structural fractures) of the mineral. Along these cleavage planes the sulphur from the pyrite has been stripped away and replaced with oxygen, transforming these regions into iron oxides, whereas in the centers, there are small core remnants of the original pyrite crystal.

Sample 7 is from column 12, which was an intrusive breccia sample from Metates that was crushed to ½ inch, and the sample examined was the passing 35 mesh size fraction. This sample had been oxidized for 180 days with an alkaline solution, and cyanide leached for 90 days prior to sampling for SEM microprobe work. This example further collaborates and shows another pathway in which the oxidative leach technology breaks down the iron sulphide minerals and releases the precious metals locked within.

Figure 3

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Microprobe imaging of sample 9 in Figure 3 provides another example of the oxidation of an iron sulphide mineral that was once pyrite, now altering to hematite or limonite. This image captures the periphery of the pyrite mineral being oxidized first, and a transition zone and digestion boundary are clearly demarcated, creating a notable zonation.

Sample 9 is from column 4, which was a massive intrusive sample from Metates that was crushed to ½ inch, and the sample examined was the passing 35 mesh size fraction. This sample had been oxidized for 180 days with an alkaline solution prior to sampling for SEM microprobe work. This example highlights another pathway in which the oxidative leach technology breaks down the iron sulphide minerals and releases the precious metals locked within.

Figure 4

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Finally, reflected light microscope imaging of sample 8 discovered a native gold particle in the form of electrum, see Figure 4. This identified electrum bleb is located within a pyrite crystal, and its existence signifies the presence of native gold within the Metates system, which is in addition to the gold known to be within the sulphide minerals.

Sample 8 is from column 16, which was an intrusive breccia sample from Metates that was crushed to ½ inch, and the sample examined was the passing 35 mesh size fraction. This sample had been oxidized for 180 days with an alkaline solution, and cyanide leached for 90 days prior to sampling for mineralogy work.

Next Steps

Chesapeake will continue to advance the metallurgical program. As the columns meet the oxidation curve target and switch to cyanide leaching, additional columns will be loaded and tested to confirm the improved oxidation rates. At the completion of this process, the results will be released outlining the oxidative curves and precious metal recoveries through cyanide leaching. Once sufficient metallurgical work is available, management plans to commence a pre-feasibility study to further de-risk Metates and advance the project toward our goal of developing one of America's largest gold and silver deposits2.

In addition, the Company is actively seeking other sulphide gold deposits where the leach technology can be applied to potentially unlock significant economic value.

Presently, Chesapeake remains well funded with almost C$24 million in cash and cash equivalents.

Qualified Persons

Dr. Art Ibrado, P.E., of Fort Lowell Consulting PLLC, is the independent qualified person responsible for the scientific and metallurgical technical information in this news release in accordance with NI 43-101. The qualified persons have reviewed and approved the contents of this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas2 with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.

Chesapeake also has an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 68% of Gunpoint Exploration Ltd., which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne or Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.

Alternatively, join us at our webinar on Thursday, the 7th, at 11 am PST using the link below.

api.newsfilecorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to the strategic plans, timing and expectations for the Company's exploration and drilling programs at the Metates Property, including advancing the metallurgical test program, release of final results and preparing a pre-feasibility study. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineral resource estimates, the conditions in general economic and financial markets; the price of gold and silver; availability and costs of mining equipment and skilled labour; timing and amount of expenditures related to drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling and testing results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

1Marcasite. (2023, September 1). Encyclopædia Britannica. api.newsfilecorp.com

2Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

[LoneClone] Chesapeake Gold Initiates Legal Proceedings Related to San Vicente 3 Concession...

LoneClone — 5/5/2023 1:44:37 PM

Chesapeake Gold Initiates Legal Proceedings Related to San Vicente 3 Concession

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Vancouver, British Columbia--(Newsfile Corp. - May 5, 2023) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") has initiated legal proceedings against the Dirección General de Minas of Mexico ("DGM") with the Federal Court of Administrative Justice in the state of Durango, Mexico in response to the DGM's cancellation of the San Vicente 3 mineral concession. The San Vicente 3 mineral concession is one of 12 mineral concessions comprising the Metates property, representing 700 hectares of the 4,260 hectares in the Metates project, and encompasses a portion of the Metates mineral resource.

The Company has recently become aware that the DGM has cancelled the San Vicente 3 mineral concession on the basis that the Company did not provide adequate evidence to support the Company's performance of the exploration work required to maintain the concession. The Company's legal position, approved by external Mexican legal counsel, is that the work required to maintain the concession was conducted on the property and appropriate evidence was submitted to the DGM to substantiate the work. The Company's Mexican legal counsel has initiated legal proceedings against the DGM with the Federal Court of Administrative Justice in the state of Durango to contest the legality of the cancellation of the San Vicente 3 mineral concession on the grounds that (1) the DGM failed to comply with mandated cancellation procedures in accordance with applicable legislation, and (2) the DGM determined, erroneously, that evidence submitted in support of the exploration work was insufficient.

The Company intends to vigorously defend its position with respect to the San Vicente 3 mineral concession.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas.1

For Further Information:

For more information on Chesapeake and its Metates project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the Company's legal proceedings against the DGM to contest the cancellation of the San Vicente 3 mineral concession, the outcome of the legal proceedings against the DGM and other matters. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, whether the Company is successful in its proceedings against the DGM; the accuracy of the Company's mineral resource estimates; the impact of the cancellation of the San Vicente 3 mineral concession on Metates; general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

1 Mexico's biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

[LoneClone] Chesapeake Gold Announces Appointment of Interim Chief Financial Officer newsf...

LoneClone — 5/1/2023 2:28:48 PM

Chesapeake Gold Announces Appointment of Interim Chief Financial Officer

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Vancouver, British Columbia--(Newsfile Corp. - April 28, 2023) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the appointment of Mr. Navin Sandhu as Interim Chief Financial Officer effective May 1st, 2023.

The Board of Directors has granted 20,000 incentive stock options ("Options") to Mr. Sandhu at an exercise price of $2.70 per share. The Options are exercisable for a term of five years and will vest as to 25% annually on each anniversary of the date of the grant.

Mr. Sandhu, CPA, has 5 years of accounting, auditing and advisory experience through servicing a wide variety of clients. Mr. Sandhu is President and founder of Nava Financial Inc., a public practice accounting firm that specializes in providing CFO and controller services to Canadian publicly listed companies.

Previously, Mr. Sandhu was an Audit Manager at DMCL LLP, a Vancouver based public practice firm, where he worked with numerous public and private companies in the junior mining, cannabis, technology, and life science space.

Mr. Alan Pangbourne, Chief Executive Officer, states, "The Company is very pleased with the appointment of Mr. Sandhu to the executive team. Navin's expertise will help support the Company's efforts to continue with the development of the Metates deposit in Mexico."

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 18 million ounces of gold and over 500 million ounces of silver.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at invest@chesapeakegold.com or phone +1 604-731-1094.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

[LoneClone] Chesapeake Infill Drilling Continues to Support Higher Grade Intrusive Mineral...

LoneClone — 2/15/2022 5:44:17 PM

Chesapeake Infill Drilling Continues to Support Higher Grade Intrusive Mineralization at Metates; ~10% Higher Grades Encountered

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Vancouver, British Columbia--(Newsfile Corp. - February 15, 2022) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the results from the first five large diameter (PQ or 88 mm) infill core drill holes completed during the current drill program at its flagship Metates gold-silver project in Durango, Mexico. The 2021-2022 drill program is slated to include 16 holes totaling approximately 6,700 meters.

Highlights from the recent holes are provided below:

Hole ID	From (m)	To (m)	True Width (m)	Gold Grade (g/t Au)	Silver Grade (g/t Ag)	Gold Eq Grade (Au+(Ag/75))	Lithology
CKG21-088	138	420	282	1.02	23.7	1.33	All host rocks
Incl.	138	390	252	1.04	25.6	1.38	Intrusive Breccia and Intrusive
Incl.	390	420	30	0.87	7.5	0.97	Sediments
CKG21-089	339	630	291	0.56	11.2	0.71	All host rocks
Incl.	339	441	102	0.72	24.2	1.04	Sediments
Incl.	441	630	189	0.47	4.2	0.53	Intrusive Breccia and Intrusive
CKG21-090	33	432	399	0.99	27.8	1.36	All host rocks
Incl.	33	402	369	0.97	29.1	1.36	Intrusive Breccia and Intrusive
Incl.	402	432	30	1.25	12.7	1.42	Sediments
CKG21-091	291	498	207	1.13	11.9	1.28	All host rocks
Incl.	291	356	65	0.63	20.6	0.90	Sediments
Incl.	356	498	142	1.35	7.9	1.46	Intrusive Breccia and Intrusive
CKG21-092	246	543	297	1.19	9.7	1.32	All host rocks
Incl.	246	290	44	1.06	18.3	1.31	Sediments
Incl.	290	504	214	1.29	7.2	1.38	Intrusive Breccia and Intrusive
Incl.	504	543	39	0.81	13.7	0.99	Sediments

The infill drill holes generally target the intrusive hosted mineralization and are spaced at approximately 50-meter intervals along the strike of the Metates intrusive and enclosing sedimentary rocks. Most drillholes included in the infill program will have an azimuth of 215 degrees, are inclined at -55 to -75 degrees and range from 200 to 665 meters depth to intersect the intrusive at near true thickness. To date, 5,325 meters have been drilled in 13 holes and 1,375 meters are remaining. The drilling has confirmed the as-modeled rock units, contacts, and mineralized intervals.

About 70% of all the assay intervals for the 5 holes exceeded a 0.35 g/t gold-silver equivalent cut-off grade (Au Eq grade). The assay intervals which intersected intrusive mineralization were on average 9.4% higher in Au-Ag equivalent grade than estimated in the current resource block model. In addition, holes CKG21-090 and -092 are two of the best holes ever drilled at Metates based on grade-thickness product.

Cross Section - CKG21-090 & CKG21-092

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A plan map showing drill hole locations, two geological cross sections and the complete assay data are available at newsfilecorp.com. Drill assay results from the remaining holes in the infill drill program will be released on a timely basis once the results become available.

Alan Pangbourne, President & CEO, states: "We are very pleased to see that these 5 infill holes continue to support our belief that the intrusive continues to be materially higher grade than previously modeled and should have a very positive impact on the new block model, mine plan and PFS. We expect to complete this infill drilling program by the end of March."

Sample Preparation, Analysis and QA/QC Program.

All the assays reported by Chesapeake in this news release are from PQ drill core which were logged and sampled in a secure storage facility located at the Metates project. PQ core was cut using disc rock saws and a representative one-quarter sample was selected for assay. Core samples were sent to the ALS Global facility in Zacatecas City, Mexico for preparation with assay pulps subsequently sent to ALS labs in Reno, USA and Vancouver, Canada for analysis. ALS Global is an accredited mineral analysis laboratory.

All core samples, generally at 3 metre sample intervals, were prepared using a method whereby the entire sample was crushed to 90% passing -2mm, a split subsample of 1000 g was pulverized to better than 85% passing 75 microns and then a 250 g pulp was taken.

Samples were analyzed for gold using 50 g fire assay fusion with an ICP finish (Method Au-ICP22). Silver and other elements were analyzed by 4 acid digestion with a ICP finish (Method ME-ICP61). Gold (>5 ppm) and silver (>100 ppm) over limits were analyzed by fire assay and gravimetric finish.

Core sample duplicates, preparation (crush and pulp) duplicates and certified standards and blanks from CDN Resource Laboratories were inserted into the samples stream as part of the sampling protocol for the QA/QC program.

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the technical information in this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's Metates project hosts one of the largest undeveloped gold-silver deposits in the Americas with a defined resource of over 20 million ounces of gold and 550 million ounces of silver (as per NI 43-101 Technical Report Preliminary Economic Assessment dated August 30, 2021 that are available on www.sedar.com).

Chesapeake also has an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 73% of Gunpoint Exploration Ltd. which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Provides Corporate Update and 2022 Technical Milestones newsfilecor...

LoneClone — 12/16/2021 11:05:19 AM

Chesapeake Provides Corporate Update and 2022 Technical Milestones

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide a corporate update on its world class, Metates gold-silver project located in Durango State, Mexico, together with planned technical work and objectives in 2022.

Alan Pangbourne, CEO, commented, "2021 was a transformational year for Chesapeake with new management members and technical team focused on testing a sulfide heap leach technology that could significantly improve Metates' project economics as a low cost, scalable mine. The positive results of the PEA demonstrated an alternative mine plan with an ~90% decrease in development capital compared to an autoclave process flowsheet. In 2022, we plan to advance the metallurgical and technical work that will be key value drivers for the Company."

During 2021, Mr. Randy Reifel, the Founder, Chairman and President of the Company, has been instrumental in assisting in the transition of the new management and technical team. Effective January 1, 2022, Mr. Reifel will step down as President and continue as Executive Chairman of the Board of Directors. Mr. Pangbourne will assume the duties of the President.

Presently, Chesapeake is well funded with C$32 million in cash and marketable securities.

Infill Drill Program

The five-hole PQ diameter core drill program completed in June ( NR11-2021) for metallurgical test work returned on average, a 19% increase in grade over the block model predicted grades. In November, two diamond drill rigs commenced a 16-hole infill program that will drill both up and down dip as well as along strike between the June 2021 holes. The Company expects to release results in early 2022 once assays have been received.

An overall increase in grade could have a significant impact on the PEA geological model ( NR12-2021) and further improve project economics. Once the assays are received, an updated block model inputting all 21 holes will be the basis for a revised resource estimate, mine planning and future technical studies.

Metallurgical Testwork Program

The Company is also pleased to report that selected 2021 drill core samples from Metates for metallurgical testwork are in a Vancouver lab and 16 columns (see photo below) are oxidizing. Following oxidation, conventional cyanide leaching will be undertaken for precious metal recovery.

The metallurgical testwork will be in 2 phases. Phase 1 will concentrate on composite sample tests to determine the best parameters for processing the Metates mineralisation. Phase 2 will include individual variability testing to develop a detailed geo-metallurgical model. Results from Phase 1 will be incorporated into a prefeasibility study, expected to be delivered in late 2022.

The image above was taken on November 25th, 2021, shows a colour change from grey to brown as evidence of oxidation in the columns after 2 to 3 days.

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Regional Projects

The Company plans to follow up exploration on four Mexican regional projects within its portfolio.

Nicole, Durango State: Broad system of gold-silver-zinc epithermal stockwork and breccia veins with potential gold-copper porphyry mineralization

Lucy, Sinaloa State: Gold and polymetallic skarns with potential gold-copper intrusive hosted mineralization at depth

Sundae, Sinaloa State: Low sulfidation epithermal system over 3 km long and 500 m wide

Tatatila, Veracruz State: Gold-silver-copper skarn with similar geological characteristics to Torex Gold's skarn deposits in Guererro State

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas with over 20 million ounces of gold and 550 million ounces of silver.

Chesapeake also has an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Announces Infill Drilling Program at Metates newsfilecorp.com Vanc...

LoneClone — 10/19/2021 9:56:03 AM

Chesapeake Announces Infill Drilling Program at Metates

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Vancouver, British Columbia--(Newsfile Corp. - October 19, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") wishes to report that a 16 hole infill drill program will commence in November on its world class, Metates gold-silver project located in Durango State, Mexico.

The five-hole PQ diameter core drill program completed in June (NR11-2021) for metallurgical test work returned on average, a 19% increase in grade over the block model predicted grades in the intrusive and intrusive breccia ore types. The infill program will drill both up and down dip as well as along strike in a 5-spot pattern between the existing holes. The 16 holes totaling 6,700 meters, ranging from 250 to 650 meters depth, will be drilled with the same orientation to maintain consistency with the earlier drilling.

The infill drill program will further define the geological structural controls, expand drill density, and provide additional composite metallurgical samples for variability testing. An overall increase in grade could have a significant positive impact on the expected PEA mine grades (NR12-2021) and project economics. Once the assays are received, an updated block model inputting all 21 holes will be the basis for resource estimation and mine planning in the prefeasibility study planned for Q3 2022.

2021-22 Proposed PQ Drill Program

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Change of Corporate Address:

Chesapeake also announces that its registered office address has changed to 1166 Alberni Street, Suite 1201, Vancouver BC, V6E 3Z3, Canada. The Company's new phone number is +1 778 731 1362.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas with over 20 million ounces of gold and 550 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Files PEA Technical Report and Provides Metates Update newsfilecorp...

LoneClone — 8/30/2021 11:00:14 AM

Chesapeake Files PEA Technical Report and Provides Metates Update

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Vancouver, British Columbia--(Newsfile Corp. - August 30, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report titled "Metates Sulphide Heap Leach Project - Phase 1" with an effective date of August 30, 2021 (the "Technical Report"). The Technical Report is available for review on SEDAR ( www.sedar.com) and the Company's website ( www.chesapeakegold.com).

Project Update:

The Company has shipped the selected drill core samples from Metates to the lab in Vancouver to begin metallurgical testwork in September. The Company will prioritize the intrusive and intrusive breccia portions of the Metates orebody with results of the testwork to be released on an ongoing basis. First results are expected in early Q1 2022.

Alan Pangbourne, CEO of Chesapeake Gold, added, "To prepare for a large and extensive metallurgical testwork program on recently drilled core, the Company set up a procedural trial on previous Metates core that had been held in storage. The composite being tested was an intrusive ore sample crushed to a nominal size of P80 = 13 mm. The column photos of the ore show a distinct change in colour, from gray to yellow-brown as it oxidizes from the heap leach technology. We look forward to monitoring and proving the sulphide heap leach technology is a viable process alternative for Metates."

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About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with measured and indicated resources of 1,365 million tonnes grading 0.5 grams per tonne gold and 12.8 grams per tonne silver, representing over 20 million ounces of gold and 560 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com or +1-604-731-1094.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the economic and project parameters presented in the PEA, including IRR, AISC, NPV, and other costs and economic information, the strategic plans, timing and expectations for the Company's exploration and drilling programs at the Metates Property, including metallurgical testing, mineralization estimates and grades for drill intercepts, permitting for various work, and optimizing and updating the Company's resource model and preparing a pre-feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Metates Property. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability and costs of mining equipment and skilled labour; timing and amount of expenditures related to drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

[LoneClone] The most encouraging aspect of this release is the much lower, if still not inco...

LoneClone — 7/26/2021 4:00:32 PM

The most encouraging aspect of this release is the much lower, if still not inconsiderable, capex, always the biggest hurdle to developing Metates.

I am not a buyer at this point, maybe not ever. Yes, the optionality plays like CKG do well during gold bulls, I have learned the hard way that the more financially robust plays do even better.

LC

[WalterWhite] RR always said this project needs $2k+ gold. It is really out of his hands unti...

WalterWhite — 7/26/2021 12:41:47 PM

RR always said this project needs $2k+ gold.

It is really out of his hands until the commodity cooperates.

[LoneClone] Chesapeake Announces Strong PEA Results for Phase 1 Heap Leach Mine at Metates...

LoneClone — 7/26/2021 12:13:38 PM

Chesapeake Announces Strong PEA Results for Phase 1 Heap Leach Mine at Metates with Pre-Tax NPV of US$1.1 Billion (C$1.4 Billion) and 35% IRR

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Vancouver, British Columbia--(Newsfile Corp. - July 26, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to report the positive results of the Preliminary Economic Assessment ("PEA") for the Phase 1 mine plan ("Phase 1") of the Metates gold-silver project in Durango, Mexico. Phase 1 evaluates the initial development of Metates as a low cost, scalable heap-leach operation. The PEA demonstrates robust project economics with optionality for expansion into a significantly larger operation. The PEA was prepared by M3 Engineering & Technology of Tucson, Arizona ("M3") with input from other prominent industry consultants.

HIGHLIGHTS OF PHASE 1 PEA:

(All financial figures are in U.S. dollars unless otherwise noted)

Compelling Project Economics: Pre-tax NPV of C$1.43 billion (US$1.14 billion) and 35% IRR at $1,600 per ounce gold and $22 per ounce silver at a 5% discount rate, over a 31-year mine life ("LOM").

Production Metrics: Average annual production of over 110,000 ounces of gold and 2.5 million ounces of silver during the first 15 years. All-in sustaining cost ("AISC") of $748 per gold ounce with a LOM low stripping ratio of 2.2:1.

Significant Cash Flow: Average annual pre-tax free cash flow of $113 million in the first 15 years, and cumulatively $2.7 billion LOM.

Initial Capital Cost and Payback: The PEA contemplates an initial capital cost of $359 million, including $64 million in contingency costs. Payback 2.5 years.

Scalable Operation: Phase 1 15,000 tpd mine is expandable to 30,000 tpd, to bring production forward and reduce the 31-year LOM.

Resource Optionality: The PEA only focuses on the higher-grade intrusive hosted portion of the Metates orebody, which represents less than 20% of the total mineral resource.

Highlights Sulphide Heap-Leach Technology Potential: Management believes there is a strategic opportunity for Chesapeake across the precious metals industry to enhance the project economics of sulphide orebodies globally.

The PEA demonstrates strong financial performance and rapid capital payback developing Metates as a sulphide heap leach operation. The site's simplified process flowsheet, compact footprint and proximity to key infrastructure contribute to the project's low initial capital cost. The PEA forecasts early cash flow generation which supports future expansions that can be developed by the Company. Excellent upside optionality exists to scale up future production to potentially take advantage of the entire resource.

Alan Pangbourne, CEO said, "The Metates PEA is a key milestone towards Chesapeake's larger vision of becoming a mid tier gold and silver producer. I'd like to thank our technical team for the progress to date. We look forward to providing additional updates as we continue to de-risk and develop Metates."

Randy Reifel, Chairman continued, "This PEA demonstrates Metates as large, scalable Tier 1 project with excellent economics. I believe the revised approach to Metates is a potential "game changer" for Metates and the gold mining industry at large. Alan has the track record to build Chesapeake into an innovative, successful gold producer in the coming decade."

An updated presentation including the highlights of the Phase 1 PEA has been uploaded to the Chesapeake website: newsfilecorp.com.

METATES GOLD-SILVER PROJECT

The Metates project located in Durango State, Mexico, is one of the largest, undeveloped disseminated gold and silver deposits in Mexico. The property comprises 12 mineral concessions totalling 14,727 hectares. The Metates deposit is hosted by Mesozoic sedimentary rocks that have been intruded by a quartz latite body up to 300 metres thick and 1,500 metres long. The gold-silver mineralization occurs as sulphide veinlets and disseminations in both the intrusive and sedimentary host rocks.

Mineral Resource Estimate

The PEA includes a revised mineral resource estimate for the Metates Project and replaces the mineral reserve estimate contained in the Company's updated preliminary feasibility study dated April 29, 2016 ("2016 PFS"). The measured and indicated mineral resource is 1.3 billion tonnes at 0.47 g/t gold and 12.9 g/t silver for 19.8 million ounces of contained gold and 542.0 million ounces of contained silver. Inferred mineral resource is an additional 62.2 million tonnes at 0.32 g/t gold and 9.0 g/t silver for 640,000 ounces contained gold and 18.0 million ounces of contained silver. Table 1 below shows the new resource statement for the Metates project.

The mineral resource is broadly divided into intrusive hosted and sediment hosted mineralization. In terms of measured and indicated mineral resource tonnes, about 80% of the resources are sediment hosted and 20% intrusive hosted. The mineral resources are based on a block model developed by Independent Mining Consultants ("IMC") during July 2014. The results of the recent metallurgical core drilling program reported in the news release dated June 28, 2021, have not been included in this block model.

The measured, indicated, and inferred mineral resources reported are contained within a floating cone pit shell, and are compliant with the "reasonable prospects for economic extraction" requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The mineral resource cone shell is based on a gold price of US$1,600 per ounce and silver at US$20 per ounce.

Table 1: Metates Mineral Resource Statement

Resource Category	M tonnes	Gold Eq. (g/t)	Gold (g/t)	Silver (g/t)	Gold (moz)	Silver (moz)
Measured Mineral Resource	395.4	0.79	0.59	15.5	7.44	197.3
Intrusive	103.1	0.98	0.76	16.5	2.52	54.6
Sediment	292.4	0.73	0.52	15.2	4.92	142.7
Indicated Mineral Resource	907.0	0.58	0.42	11.8	12.36	344.7
Intrusive	146.0	0.76	0.60	11.9	2.79	55.9
Sediment	761.1	0.55	0.39	11.8	9.57	288.7
Measured/Indicated Resource	1,302.4	0.65	0.47	12.9	19.80	542.0
Intrusive	249.0	0.85	0.66	13.8	5.32	110.6
Sediment	1,053.4	0.60	0.43	12.7	14.48	431.4
Inferred Mineral Resource	62.2	0.44	0.32	9.0	0.64	18.0
Intrusive	3.4	0.51	0.43	6.0	0.05	0.7
Sediment	58.8	0.44	0.32	9.2	0.60	17.3

Notes:

The Mineral Resources have an effective date of May 18, 2021 and the estimate was prepared using the definitions in CIM Definition Standards (May 10, 2014).

All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral Resources are based on prices of US$1600/oz gold and US$20/oz silver.

Mineral Resources are based on a gold equivalent cut off grade of 0.26 g/t.

The gold equivalent value is calculated as follows:
Gold Equivalent (g/t) = Gold (g/t) + Silver (g/t) / 74.67, based on gold recovery of 70% and silver recovery of 75%.

Figure 1: Phase 1 Metates Cross Section

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The Company cautions that the results of the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them to be classified as mineral reserves. There is no certainty that the results of the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Mining and Processing

The Metates mine will be a conventional open pit mine. The mining is planned to be conducted by contractors. Mine operations will consist of conventional drilling blasting, loading and hauling with large off-road trucks, hydraulic shovels and wheel loaders. Plant feed will be delivered to the primary crusher and waste to various waste storage facilities. The mine plan for this study only considered the higher grade intrusive hosted mineralization as potential plant feed. There will be a stockpile for sedimentary hosted resource that is not considered plant feed for this first phase of the operation. There will also be a low-grade stockpile facility to store marginal grade intrusive material for processing at the end of commercial pit operations. There will be a support fleet of track dozers, rubber-tired dozers, motor graders, and water trucks to maintain the working areas of the pit, waste storage areas, and haul roads. Figure 2 shows the overall site layout.

The site layout features a very compact layout with all the major infrastructure located at or near site. A water diversion tunnel is required upstream of the mine and a water reservoir will be constructed below the site to supply water for the operations. Power will come to site via a connection to a nearby substation and allow power to be supplied from the national grid. All the major mining, waste dumps, stockpiles and leach pads are all located in one watershed. The mine plan consumes significantly less power and water than a conventional sulphide flow sheet with a very low environmental footprint.

A mine plan was developed to supply plant feed to a conventional three stage crushing plant with the capacity to process 15,000 tpd. After crushing to 80% minus ½ inch the material is agglomerated in alkaline solution and placed on a "on-off" pad to allow it to oxidize for up to 180 days. Oxidation solutions are continuously regenerated to maintain the alkalinity and remove sulphate build up.

The oxidized material is then transferred to a permanent pad for conventional cyanide leaching in multiple lifts resulting in gold and silver recoveries of 70% and 75% respectively.

Gold and silver bearing solutions from the permanent pad will be collected and processed in a conventional Merrill Crowe plant to recover the gold and silver.

Precipitate from the Merrill Crowe plant will be smelted on-site into Dore and shipped off site for final refining. The barren solution will be recharged with cyanide and returned to the gold and silver permanent leach pads.

The site is scheduled to operate two 12 hour shifts per day for 365 days per year.

A flowsheet for the mineral processing is shown below in Figure 3.

Figure 2: Overall Site Layout

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Figure 3: Process Flowsheet

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Selected operating and production statistics from the PEA are presented in Table 2.

Table 2: Estimated PEA Operating and Production Parameters

Operating Metrics
Material Mined	Life of Mine ("LOM")
Total Material Mined From Pit (K tonnes)	533,998
Direct Feed To Process (K tonnes)	127,294
Low Grade Stockpile (K tonnes)	38,797
Waste Rock (K tonnes)	367,907
Strip Ratio (Low Grade as Ore)	2.22
Average Stacking Rate (K tonnes/yr)	5,358
Average Processed Grades	Years 1-10	Years 11-20	Years 21-31	LOM Avg.
Gold (g/t)	0.859	0.931	0.490	0.756
Silver (g/t)	23.18	11.22	12.75	15.71
Average Annual Production	Years 1-10	Years 11-20	Years 21-31	LOM Avg.
Gold (K oz.)	104.8	114.7	57.1	91.1
Silver (K oz.)	3,004	1,467	1,598	2,009

Initial Capital Costs Summary

The initial capital costs, including contingency are estimated at $359 million. A significant reduction from the 2016 PFS and reflects the smaller starter mine and compact site supported by nearby infrastructure including close proximity to the national grid and water source.

A summary of estimated initial capital costs is presented in Table 3.

Table 3: Summary of PEA Initial Capital Costs

Summary of Initial Capital Costs
	Cost $000
Metates Site
Mining Equipment & Mine Development	$18,713
Crushing & Conveying	$36,104
Ponds & Pads	$28,404
Reagent/Regeneration System	$11,677
Merrill-Crowe & Refinery	$9,124
Subtotal	$104,022
Infrastructure
General Site/Earthworks/Access Roads	$106,069
Electric Power	$7,851
Water Supply	$7,380
Ancillaries & Buildings	$11,121
Subtotal	$132,421
Freight, Taxes & Duties	$4,060
Total Direct Field Cost	$240,503
Indirects-EPCM, Commissioning & Spares	$32,047
Total On Site Constructed Cost	$272,550
Contingency	$63,459
First Fills	$6,000
Owner's Cost	$17,200
Total Initial Capital Cost	$359,209

Operating Costs Summary

Cash costs and AISC per payable gold ounce are non-GAAP financial measures. Please see "Cautionary Note Regarding Non-GAAP Measures" on page 11 of this press release.

Average LOM operating costs (including mining, processing, and G&A - net of capital development, royalties and refining) total $686 per payable ounce of gold sold. The AISC, which includes sustaining capital, capitalized exploration and reclamation, total $748 per payable ounce of gold sold.

Total estimated operating costs in the PEA are presented in Table 4.

Table 4: Summary of PEA Operating Costs

	LOM Average US$/t processed	$/Au Oz. Production
Metates Site
Mining (including rehandle)	$7.51	$441.70
Processing (Crushing, Stacking, Oxidation, Leach, Merrill-Crowe)	$8.05	$473.65
Site Support	$1.41	$82.69
Profit Sharing	$1.32	$77.74
Total Operating Cost	$18.29	$1,075.78
Royalties (0.5% NSR & 7.5% Gov't EBITDA Royalty)	$1.45	$85.35
Doré Treatment Charges	$0.17	$10.15
By-Product Credit (Silver)	($8.25)	($485.31)
Total Cash Cost	$11.66	$685.97
Sustaining Capital, Reclamation & Closure	$1.06	$62.49
AISC	$12.72	$748.46

Financial Analysis

The financial analysis presented in Table 5 with the key financial assumptions.

Table 5: Key PEA Financial Values

Metal Price Assumptions	Low Case	Base Case	Spot
Gold ($/oz.)	$1,360	$1,600	$1,786
Silver ($/oz.)	$19	$22	$26
USD:CDN Exchange Rate $	1:1.25
USD:MEX Exchange Rate $	1:20.05
Unlevered Pre-Tax Economic Indicators
NPV @ 5% (C$M)	$896	$1,427	$1,906
NPV @ 5% (US$M)	$717	$1,142	$1,525
IRR %	25.3	35.4	45.2
Payback (years)	3.4	2.5	2.0
Levered After-Tax Economic Indicators1
NPV @ 5% (C$M)	$509	$852	$1,162
NPV @ 5% (US$M)	$407	$682	$930
IRR %	26.9	41.2	55.9
Payback (years)	3.4	2.2	1.6

Notes:

The Company expects to debt finance a significant portion of development costs. The levered economics assume initial capital is 60% debt financed at an annual interest rate of 7%, an upfront financing fee of 3%, and a seven-year term post commencement of commercial production with a balloon payment of 30% of the principal at maturity.

Sensitivity Analysis

The Metates heap-leach PEA demonstrates strong economic performance across a range of gold and silver prices. Estimated NPV sensitivities for key operating and economic metrics are presented in Tables 7 through 9, as well as Figure 4.

Table 7: C$MM Pre-Tax NPV(5%) Sensitivity Analysis: Gold and Silver Prices

		Gold Price (US$/oz)
		1,400	1,600	1,800	2,000	2,200
Silver Price (US$/oz)	20	$1,005	$1,345	$1,685	$2,025	$2,365
	22	$1,087	$1,427	$1,767	$2,107	$2,447
	24	$1,169	$1,509	$1,848	$2,188	$2,528
	26	$1,250	$1,590	$1,930	$2,270	$2,610
	28	$1,332	$1,672	$2,012	$2,352	$2,691

Table 8: US$MM Pre-Tax NPV(5%) Sensitivity Analysis: Gold and Silver Prices

		Gold Price (US$/oz)
		1,400	1,600	1,800	2,000	2,200
Silver Price (US$/oz)	20	$804	$1,076	$1,348	$1,620	$1,892
	22	$870	$1,142	$1,413	$1,685	$1,957
	24	$935	$1,207	$1,479	$1,751	$2,023
	26	$1,000	$1,272	$1,544	$1,816	$2,088
	28	$1,065	$1,337	$1,609	$1,881	$2,153

Table 9: Pre-Tax IRR Sensitivity Analysis: Gold and Silver Prices

		Gold Price (US$/oz)
		1,400	1,600	1,800	2,000	2,200
Silver Price (US$/oz)	20	28%	33%	38%	42%	47%
	22	30%	35%	40%	45%	49%
	24	33%	38%	43%	47%	52%
	26	35%	41%	46%	50%	55%
	28	38%	43%	48%	53%	57%

Figure 4: Sensitivity Analysis: Metal Prices, Initial Capital Costs & Operating Costs

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Next Steps and Opportunities

The Company recently drilled approximately 2,300 metres of large diameter (PQ) core providing 10 tonnes of material for metallurgical testwork that will focus on the new heap leach processing route. The first phase of the metallurgical test program will include 40 test columns to analyze the impacts of crush size, reagent strengths and ore types to determine the optimum oxidation and precious metal leaching parameters.

The PEA has identified additional opportunities that could further reduce the risk profile and advance the sulphide heap leach project at Metates to the PFS and permitting stage.

Initiatives that may enhance the Project include:

Recent drill results (including 432 metres of 1.80 g/t gold-silver equivalent @ 75:1 ratio) suggest potential for an even higher-grade core within the Metates intrusive. Chesapeake is evaluating further infill drilling to be incorporated in a PFS.

Further optimization of the initial production rates and phased development transition. Current mine design will facilitate a near term expansion to 30,000 tpd.

Further evaluate the layout, location and staged permanent leach pad closer to the oxidation pad.

Further evaluate the overall site earthworks, especially the oxidation pad area.

Complete the metallurgical testwork program to define process variables and metal recoveries.

Further study of water utilization and conservation to enhance the site wide water balance model.

Continued engagement with stakeholders to secure long term mutual benefits relating to land tenure, water rights and employment.

Expand environmental baseline monitoring to support an Environmental Impact Study and future permitting activities.

All the above opportunities are planned to be incorporated along with results from preliminary column testwork into a prefeasibility study expected to be completed in 2022.

Qualified Persons

A NI 43-101 Technical Report is being prepared by M3 to be filed on SEDAR within 45 days following the date of this release. The Report will consist of a summary of the Phase 1 PEA. Dr. Art Ibrado, P.E. Project Manager with M3 is the independent qualified person responsible for the scientific and technical information in this news release in accordance with NI 43-101. Mr. Michael Hester, FAusIMM, Vice President of IMC, is the independent qualified person responsible for the reserve estimate and mine planning in this news release in accordance with NI 43-101. Mr. Gary Parkison, CPG, Vice President Development of Chesapeake, is the qualified person who supervised the preparation of the technical information in this release. All of the above qualified persons have reviewed and approved the contents of this release.

Technical Report

A NI 43-101 technical report prepared by M3 Engineering & Technology will be filed on SEDAR within 45 days of this news release and will be available at that time on the Chesapeake Gold website.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 20 million ounces of gold and over 550 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com or +1-604-731-1094.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Non-GAAP Measures:

This press release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including cash costs and AISC per payable ounce of gold and silver sold and forecasted metal prices. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures employed by other companies. We believe that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate our future performance. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the economic and project parameters presented in the PEA, including IRR, AISC, NPV, and other costs and economic information, the strategic plans, timing and expectations for the Company's exploration and drilling programs at the Metates Property, including metallurgical testing, mineralization estimates and grades for drill intercepts, permitting for various work, and optimizing and updating the Company's resource model and preparing a pre-feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Metates Property. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability and costs of mining equipment and skilled labour; timing and amount of expenditures related to drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

[LoneClone] Chesapeake Releases Results from Metates Drill Program; Highlights Include 432...

LoneClone — 6/28/2021 12:31:51 PM

Chesapeake Releases Results from Metates Drill Program; Highlights Include 432 Metres of 1.80 G/t and 282 Metres of 1.53 G/t, Gold-Silver Equivalent

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - June 28, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the results from the five large diameter (PQ or 88 mm) core drill holes completed at its flagship Metates project in Durango, Mexico. The drill program was undertaken to provide new core intercepts for a comprehensive metallurgical testwork program and to confirm the higher-grade nature of the Metates intrusive hosted mineralization.

Alan Pangbourne, CEO, states: "The drill results from Metates are higher than expected further supporting our thesis that within the world class deposit, a higher-grade component exists from which we can build a foundation for a new mine plan. We look forward to completing ongoing efforts to re-scope and optimize this impressive project."

Mr. Pangbourne continued, "The assay results on average are over 18% higher than the comparable block model gold equivalent grades in the current resource model. Two of the five holes are the best ever holes drilled at Metates and four are in the previous top 20 based on a grade - thickness product. The new drill assays will be integrated into a new mineral resource estimate along with the metallurgical test results which we anticipate completing with the prefeasibility study supporting the proposed heap leaching processing option in 2022."

Drill Assay Highlights:

Hole ID	From (m)	To (m)	True Width (m)	Gold Grade (g/t Au)	Silver Grade (g/t Ag)	Gold Eq Grade Au+(Ag/75)	Silver Eq Grade Ag+(Au x 75)
CKG21-086 Incl. Incl. Incl.	15 30 213 390	447 39 282 447	432 9 69 57	1.15 1.21 2.49 2.13	48.9 417.0 21.6 9.4	1.80 6.77 2.78 2.25	135.3 507.9 208.7 169.9
CKG21-085 Incl.	63 129	345 279	282 150	1.13 1.34	29.4 31.6	1.53 1.76	114.4 131.9
CKG21-087 Incl. And	225 327 411	378 348 471	153 21 60	1.50 2.78 1.39	9.8 14.3 6.7	1.63 2.97 1.48	122.1 222.5 111.0
CKG21-084 And	156 351	291 441	135 90	1.06 0.86	17.1 11.2	1.29 1.01	96.6 75.5
CKG21-083 Incl. And Incl.	72 135 336 345	171 150 411 363	99 15 75 18	0.56 1.55 0.60 1.07	32.9 73.1 15.8 29.8	1.00 2.52 0.81 1.47	75.1 189.3 60.8 110.4

A map showing drill hole locations, a drill hole long section along the plane of the inclined holes and all the assay data are available at newsfilecorp.com

CKG21-086 Cross Section:

To view an enhanced version of this map, please visit:
orders.newsfilecorp.com

All five drill holes targeted the intrusive hosted mineralization. The holes were spaced at approximately 100 metre intervals along the strike of the main Metates intrusive and enclosing sedimentary rocks. The holes were drilled at an azimuth of 215 degrees and angled at 60 degrees to the southwest and cut the dipping intrusive body with the reported mineralized intercepts interpreted to be near true thickness. The holes also confirmed the anticipated as-modeled contacts and rock types intercepted in each hole including the intrusive and sediment contacts and limits of mineralization.

The drill program totalled 2,333 metres. Using a 0.35 g/t gold-silver equivalent (AuEq) cut off grade (AuEq = Au g/t + Ag g/t/75), 87% of all the assay intervals exceeded this cut-off.

Sample Preparation, Analysis and QA/QC Program.

All the assays reported by Chesapeake in this news release are from PQ drill core which was logged and sampled in a secure storage facility located at the Metates project. PQ core was cut using disc rock saws and ¼ was sampled. Core samples were sent to ALS Laboratory for preparation in Zacatecas City, Mexico, and subsequently pulps were sent to ALS Laboratories in Vancouver, Canada, which is an accredited mineral analysis laboratory.

All core samples containing mostly 3 metre intervals of ¼ core were prepared using a method whereby the entire sample was crushed to 90% passing -2mm, a split subsample of 1000 g was pulverized to better than 85% passing 75 microns and then a 250 g pulp was taken.

Samples were analyzed for gold using 50 g fire assay fusion with an ICP finish (Method Au-ICP22). Silver and other elements were analyzed by 4 acid digestion with a ICP finish (Method ME-ICP61). Gold (>5 ppm) and silver (>100 ppm) over limits were analyzed by fire assay and gravimetric finish.

Core sample duplicates, preparation (crush and pulp) duplicates and certified standards and blanks from CDN Resource Laboratories were inserted into the samples stream as part of the sampling protocol for the QA/QC program.

Alberto Galicia, P.Geo, Vice President Exploration and Gary Parkison, CPG, Vice President Development, are Qualified Persons as defined by NI43-101 and have reviewed and approved the technical information in this release.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 18 million ounces of gold and over 500 million ounces of silver.

Chesapeake has also developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com or (604) 731-1094.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration and drilling programs at the Metates Property, including metallurgical testing, mineralization estimates and grades for drill intercepts, permitting for various work, and optimizing and updating the Company's resource model and preparing a pre-feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Metates Property. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

[LoneClone] Chesapeake Gold Mobilizes Drill Program at Metates Project newsfilecorp.com V...

LoneClone — 3/16/2021 11:23:08 AM

Chesapeake Gold Mobilizes Drill Program at Metates Project

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - March 16, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company"), is pleased to announce that it has received the final permits from the local authorities to commence a bulk drilling program at the Metates gold-silver project located in Durango State, Mexico. Chesapeake plans to drill approximately 2,500 meters to recover 10 tonnes of large diameter core (PQ) to undertake metallurgical testwork in support of a potential sulphide heap leach mine operation. Major Drilling has commenced mobilizing to site this week.

Alan Pangbourne, CEO of Chesapeake commented: "We are pleased to get the drill program underway and look forward to conducting extensive metallurgical testwork on fresh core over the next 18 to 24 months to analyze the metallurgical response of the Metates ore to the heap leach technology. The metallurgical program follows preliminary diagnostic testwork conducted on Metates ore and will help provide guidance on our final commercial scale project design parameters, with respect to target ore oxidation levels, reagent consumption, gold and silver recoveries and oxidation cycles. Positive test results will significantly de-risk and improve the economic viability of one of the largest, undeveloped Tier 1 gold-silver deposits in the world today."

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 18 million ounces of gold and 500 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at invest@chesapeakegold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Gold Announces 2021 Work Program Appointment of Carl Edmunds as Speci...

LoneClone — 2/24/2021 12:51:04 PM

Chesapeake Gold Announces 2021 Work Program Appointment of Carl Edmunds as Special Advisor

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - February 24, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces that the Board of Directors have approved a 2021 work program for the Metates project in Durango, Mexico. The Company is also pleased to welcome Carl Edmunds as Special Advisor - Geology and Exploration, effective immediately to assist with key elements of the 2021 work program.

2021 Work Program Includes:

Bulk Drilling Program: Chesapeake plans to drill approximately 2,500m to recover 10 tonnes of large diameter core (PQ) for metallurgical testwork that will focus on the new heap leach option. The permit application has been submitted to the local authorities and the drilling contractor expects to mobilize in March.

Metallurgical Testwork: Approximately 40 test columns will be conducted in the first phase of the testwork program to determine the impacts of size, regent strengths, and ore types to determine the optimum oxidation and precious metal leaching parameters. The testwork will be performed in Vancouver.

Updated PFS: In parallel to the work above, M3 Engineering & Technology Corp. has been hired to update the previous PFS and add a scoping study for the sulphide heap leach to demonstrate the potential upside of this option.

Chesapeake's CEO, Mr. Alan Pangbourne, commented, "Our 2021 work plan is the first step forward in Chesapeake's goal to unlock significant value for our shareholder's by progressing the Metates project forward as a scalable sulphide heap leach operation. We look forward to releasing key information related to the drilling program and testwork progress throughout the year."

Appointment of Carl Edmunds:

Carl Edmunds has over 30 years experience in the global mining industry and was most recently the Chief Geologist and VP Exploration at SSR Mining for over 8 years, prior to its US$5bn merger with Alacer Gold in September 2020. Prior to SSR, Mr. Edmunds was Chief Geologist at AuRico Gold and its predecessor, Northgate Minerals, and also had increasingly senior roles with Homestake Mining earlier in his career. Mr. Edmunds holds at Masters in Science in Mineral Exploration from Queen's University and a Bachelors in Geology from the University of Edinburgh.

"It is also my pleasure to introduce and welcome Carl to the Chesapeake team. In my years spent in this industry, Carl is amongst the best geologists I've had the pleasure of working alongside and his experience and acumen will be a great compliment to Chesapeake as we continue to build out our team to advance the Metates project towards production in the coming years," commented Alan Pangbourne.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 18 million ounces of gold and 500 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel at chesapeake@shaw.ca or Alan Pangbourne at invest@chesapeakegold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Gold Completes Acquisition of Alderley Gold, Appointments of Director...

LoneClone — 1/20/2021 11:33:59 AM

Chesapeake Gold Completes Acquisition of Alderley Gold, Appointments of Directors and Officers

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - January 20, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it has completed the acquisition of Alderley Gold Corp. ("Alderley"), a private British Columbia mining technology company on the terms as previously announced by news release on December 10, 2020. With the acquisition of Alderley, Chesapeake gains access to an innovative precious metals oxidation processing technology (the "Technology") together with certain asset rights and proprietary databases, creating the path towards a new growth oriented and innovative gold and silver producer. Chesapeake will now focus on progressing the Metates project towards production using the Technology in a heap leach operation.

Management and Board of Directors Changes and Additions

Further to completion of the acquisition of Alderley, Mr. Alan Pangbourne has been appointed Chief Executive Officer and a director of Chesapeake, and Mr. Randy Buffington has joined the Board as a director. Mr. Taje Dhatt has been appointed Vice President, Corporate Strategy and Development. Mr. Randy Reifel will continue as President and Chairman of Chesapeake's Board.

In conjunction with the reorganization of the Company, Messrs. Gerald Sneddon and Greg Smith have stepped down from the Board of Directors, and Mr. Sneddon has also resigned as Executive Vice President Operations.

Randy Reifel, President, commented: "Gerry has been a great friend and as one of Chesapeake's founders, we truly recognize his dedication, leadership and contributions since inception. I would also like to thank Greg Smith for his sound financial expertise and industry knowledge provided to the Board."

Mr. Derek Green and Mr. Doug Flegg have been appointed to the Board of Directors to fill the two vacancies created by the departure of Messrs. Sneddon and Smith. Mr. Green was formerly the President and CEO of CI Investments one of Canada's largest investment fund companies. During his 23 year tenure, assets under management grew from $2 billion to $107 billion. Mr. Flegg has over 30 years experience in mining finance, including positions in global equity sales and as a strategic advisor. During 2005-2015, Mr. Flegg was the Managing Director of Global Mining Sales with BMO Capital Markets, building a strong reputation and relationships with institutional clients and senior industry management.

"I am excited about Chesapeake's future with Metates being developed as a heap leach operation together with other strategic opportunities," stated Randy Reifel, President. "Derek Green and Doug Flegg's diverse backgrounds in the capital markets complements the expertise of the Company's current Board of Directors. Their perspectives and contributions will be of great value as Metates moves forward and the Company grows."

Stock Option Grants

The Board of Directors have granted 150,000 incentive stock options ("Options") to each of Mr. Green and Mr. Flegg at an exercise price of $4.55 per share. The Options are exercisable for a term of five years and will vest as to 25% annually on each anniversary of the date of the grant.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

About Alderley

Alderley Gold Corp. is a Canadian company, founded in 2018, and focused on the advancement and development of proprietary technologies that significantly reduce the cost of construction and processing for certain refractory sulphide precious metal ore bodies. With a team of highly successful mine builders and entrepreneurs, Alderley seeks to significantly improve the project economics of existing orebodies and greatly reduce their planned environmental footprints.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel at (604) 731-1094 or Alan Pangbourne at invest@chesapeakegold.com.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

President & Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to completion of the Alderley transaction and use and application of Technology. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the successful integration of the Alderley transaction, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[LoneClone] Chesapeake Gold Announces Acquisition of Alderley Gold Corp. Creating a Platfo...

LoneClone — 12/11/2020 10:15:41 AM

Chesapeake Gold Announces Acquisition of Alderley Gold Corp. Creating a Platform for Future Growth and Mining Innovation; Alan Pangbourne to Be Appointed Chief Executive Officer

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - December 10, 2020) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company"), is pleased to announce that it has entered into a definitive agreement on December 9, 2020 (the "Agreement") to acquire Alderley Gold Corp. ("Alderley"), a private British Columbia mining technology company. With the acquisition of Alderley, Chesapeake gains access to a proven and innovative precious metals processing technology (the "Technology") together with certain asset rights and proprietary databases, creating the path towards a new growth oriented and innovative gold and silver producer. Chesapeake will now focus on progressing the Metates project towards production using the Technology in a heap leach operation.

Transaction Highlights

Establishes a well-capitalized, gold-silver development company: Chesapeake has a strong balance sheet with C$35 million in cash to advance its flagship Metates project. Metates is a major undeveloped gold, silver and zinc deposit located in Mexico.

Developing Metates as a low cost, scalable sulphide heap leach mine: Preliminary test work using the Technology indicates the optimal path forward for Metates would be to develop a low capital cost, sulphide heap leach operation. Metallurgical test work confirms that the liberation of gold in the Metates sulphides by oxidation using certain chemistry to manage pH and alkalinity significantly improves metal recoveries during cyanide leaching.

Proven, skilled additions to Chesapeake Management Team and Board: Alan Pangbourne and Randy Buffington bring over 60 years experience building and operating large scale projects throughout the Americas, as well as a proven history of developing and applying innovative processing technologies in the mining sector.

Growth through M&A: The combined team has an extensive and highly successful track record of M&A and mine operational improvements.

Superior capital markets exposure: The combined team provides further access and relationships across the global mining industry, key financial institutions, and a proven ability to raise capital throughout a commodity cycle; creating a strong precious metals company that can rapidly transact on value accretive opportunities.

Randy Reifel, Chesapeake's President, commented: "I am very excited for the Alderley team to join Chesapeake as they work to demonstrate the true potential of Metates as a low cost, sulphide heap leach operation with a 30 year plus mine life. We are very impressed by the Alderley team's track record of innovation in the mining space and experience with developing and applying leading edge processing technologies. This partnership is the first step towards building a truly innovative and successful multi-mine gold producer in the coming years."

Alan Pangbourne, incoming Chief Executive Officer and Director, commented: "Randy's reputation as an innovative and forward-thinking entrepreneur in Canada is well documented, with his notable successes at Francisco Gold Corp., Glamis Gold Ltd. and Goldcorp Inc. We look forward to a long and successful partnership with the Chesapeake team in implementing proven and tested oxidation technologies on Metates, as well as other future portfolio projects."

Technology

Through the acquisition of Alderley, Chesapeake gains access to Alderley's sulphide leaching Technology. The Technology oxidizes sulphide and transition ores using certain chemistry to manage pH and alkalinity thereby increasing recovery and reducing potential to turn acidic during cyanide leaching. The rights to the Technology are held under licence by Alderley which requires Alderley to pay a 1% NSR on any future production using the Technology.

Chesapeake has conducted preliminary indicative testing on several samples from the Metates project. Metallurgical test results were positive and indicate the process will promote the oxidation of the sulphides to a level that will allow the subsequent leaching and recovery of gold and silver. With the Technology, the development of Metates as a heap leap operation will not envision autoclave circuits leading to significantly lower capital and processing costs, stronger overall project economics and a greatly reduced environmental footprint.

Management and Board of Directors Additions

At closing, Alan Pangbourne (former CEO of Guyana Goldfields Inc.) will become CEO and a director of Chesapeake, and Randy Buffington (former CEO of Hycroft Mining Holding Corporation) will join the Chesapeake Board. Randy Reifel will continue as President and Chairman of Chesapeake's Board. Taje Dhatt will be joining Chesapeake to focus on the capital markets and advisory side of the business.

In Chesapeake, the respective title positions will be as follows:

Alan Pangbourne, CEO & Director

Mr. Pangbourne has over 35 years of experience in mining operations and was most recently President & CEO of Guyana Goldfields Inc. through to its sale to Zijin Mining Group Co., Ltd. in August 2020 at a 378% premium.

He was also previously Chief Operating Officer of SSR Mining Inc., where his efforts led to over a 400% increase in annual production over 5 years; Vice President Projects South America for Kinross Gold Corporation; and held a number of senior roles over 15 years at BHP Billiton Ltd

Mr. Pangbourne holds a Bachelor of Applied Science (Extractive Metallurgy) and a Graduate Diploma in Mineral Processing from the Western Australian School of Mines.

Randy Buffington, Director

Mr. Buffington has more than 28 years' experience in the mining industry and was most recently Chairman, President and Chief Executive Officer of Hycroft Mining Holding Corporation until July 2020.

He was previously Senior Vice President of Operations for Coeur d'Alene Mines Corp. and served in management roles for Barrick Gold Corporation including General Manager of the Goldstrike mine.

Mr. Buffington has a Masters degree in Civil Engineering.

Taje Dhatt, VP Strategy & Corporate Development

Mr. Dhatt co-founded Alderley and has a decade of experience advising companies on mergers and acquisitions, stream/royalty transactions and other corporate finance matters.

Mr. Dhatt holds a B.B.A. from the Schulich School of Business at York University.

Transaction Agreement

Under the terms of the Agreement, Chesapeake will issue 10 million common shares ("Common Shares") to the shareholders of Alderley (the "Alderley Shareholders") resulting in the Alderley Shareholders holding approximately 14.2% of the outstanding common shares of the Company on a fully diluted basis. The Alderley Shares will be issued into escrow with release based on time and milestone conditions over 7 years as follows:

5% released on each of the first four anniversaries of Closing;

10% released on the earlier of (a) date of a positive feasibility study and (b) the fifth anniversary of Closing

30% released on the earlier of (a) duly certified commencement of construction of a mine and (b) the sixth anniversary of Closing;

40% released on the earlier of (a) duly certified commencement of commercial production and (b) the seventh anniversary of Closing.

This escrow release structure confirms the commitment of the Alderley Shareholders to the future development of Chesapeake and aligns their interest in creating long term value for all shareholders. The transaction is subject to approval of the TSX Venture Exchange

Upcoming Project Development & Catalysts

With over $35 million in cash and marketable securities, Chesapeake is fully funded for its development programs contemplated through 2022. The Company plans to complete on Metates a revised technical report and economic assessment in 2021 based on the new process route and development strategy.

As well, the Company plans to conduct further metallurgical testing, update internal geo-metallurgical models, sample and confirmation drilling, rebuild its reserve and resource models for the Alderley Technology, as well as to update environmental and social baseline data for permitting purposes. This development work will form the basis for an updated prefeasibility study for Metates which would be targeted for release in early 2022.

Stock Option Grants:

The Board of Directors has also granted incentive stock options ("Options") to the new directors and officer for 1,850,000 common shares at an exercise price of $4.56 per share. The Options are exercisable for a term of five years from the date of the grant and will vest as to 25% annually on each anniversary of the date of grant.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates is a major undeveloped gold, silver and zinc deposit located in Mexico.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada.

About Alderley

Alderley Gold Corp. is a Canadian company, founded in 2018, and focused on the advancement and development of proprietary technologies that significantly reduce the cost of construction and processing for certain refractory sulphide precious metal ore bodies. With a team of highly successful mine builders and entrepreneurs, Alderley seeks to significantly improve the project economics of existing orebodies and greatly reduce their planned environmental footprints.

Mr. Gary Parkison, CPG, Vice President Development of Chesapeake, is the qualified person who has reviewed and approved the technical information contained in this news release.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel at 604-731-1094 or Alan Pangbourne at Alan@alderleygold.com.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

President & Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to completion of the Alderley transaction and use and application of Technology. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the ability to complete the Alderley transaction, receipt of applicable regulatory approvals, the successful application of the Technology to the Metates project, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.

[marcos] Hey that chart's still live - check it out ... here's the link - stockcharts.com...

marcos — 7/28/2020 7:10:12 PM

Hey that chart's still live - check it out ... here's the link - stockcharts.com

Gotta love long-term charts, they put everything in perspective ...

Three cheers to LC for keeping all the news current here

[this following paragraph is in reply to comment elsewhere on the net] - yeah, my claim to Randy-related fame is that while i had sold far too much Francisco just prior to the Glamis takeout announcement, i then compounded the mistake by selling all the Glamis not long after it closed, thereby giving up another double that transpired before the next significant pullback ... think i did productive things with the cash, but whatever i bought didn't produce the same returns in the same time, that's a clear memory ... now i've made a little of the first mistake, don't have as much ckg as i did in december, but not that much less either, in percentage terms ... anyway, i agree with the poster's point - RR does not give away the game before he scores ... and with the poster's not-so-clearly-stated point - that just because RR hasn't said anything this week, or last, or for that matter in time immemorial, it doesn't necessarily mean that he's not doing anything

Sometimes, one of the best things to do is wait ... 'Don't just do something - sit there!'

... after all, you will still have the option to review the situation, 'in two weeks'

[LoneClone] Chesapeake Options Gold-Silver Project near Tayoltita, Mexico newsfilecorp.com...

LoneClone — 3/3/2020 12:00:02 PM

Chesapeake Options Gold-Silver Project near Tayoltita, Mexico

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - March 3, 2020) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce an option to acquire a 100% interest in the El Duraznito gold-silver project ("El Duraznito") located near the town of Tayoltita in Durango State, Mexico. Regional reconnaissance identified El Duraznito and follow up grassroots exploration generated impressive results. El Duraznito is located about 18 kilometers east of First Majestic Silver Corp.'s San Dimas Mine ("San Dimas").

San Dimas and El Duraznito are located within an area of complex normal faulting along the western edge of the Sierra Madre Occidental. San Dimas is one of the most productive gold-silver districts in Mexico and has been in continuous production for over 250 years. The low sulfidation epithermal quartz veins at San Dimas have been mined for several kilometers along strike and with vertically zoned productive horizons extending for several hundreds of meters.

The San Dimas District is transected by multiple structural blocks defined by large-scale NNW-trending faults with significant vertical movement which have acted to preserve the mineralized veins. El Duraznito is situated within a large structural block east of San Dimas where quartz veins are exposed with the intervening ground covered by thick post-mineral volcanic rocks. Mineralization at El Duraznito consists of a series of en-echelon ENE-SSW trending quartz and quartz-breccia veins that have been traced over 1500 meters along strike and 300 meters vertically. The quartz breccia structures appear to be subparallel and similar to regional structures being actively mined at San Dimas. As at San Dimas, the mineralized zones at El Duraznito comprise low sulfidation epithermal quartz veins, breccia and stockwork hosted within zones of altered and silicified andesitic and rhyodacitic volcanic rocks.

Chesapeake has mapped and collected rock chip channel samples from two subparallel quartz and quartz breccia vein structures that have been traced for over 500 meters along strike. Channel samples from the quartz breccia and stockwork zones returned the following significant results:

45 meters of 1.6 g/t gold and 16 g/t silver
30 meters of 3.9 g/t gold and 48 g/t silver
23 meters of 1.8 g/t gold and 58 g/t silver
15 meters of 3.1 g/t gold and 24 g/t silver

Channel samples from well-defined quartz veins returned the following results:

10 meters of 4.8 g/t gold and 464 g/t silver
2.5 meters of 3.9 g/t gold and 756 g/t silver
2.5 meters of 9.7 g/t gold and 343 g/t silver
3.0 meters of 2.8 g/t gold and 113 g/t silver

Chesapeake will provide US$228,000 in staged payments to two concession owners ("Owners") over three years to earn a 60% interest in El Duraznito. After completion of a Feasibility Study, Chesapeake will pay the Owners US$500,000 to earn an additional 20% interest in the project. Upon commencement of commercial production, Chesapeake will have acquired a 100% interest in El Duraznito with a final US$550,000 payment to the Owners. The development timeline is at Chesapeake's sole discretion.

Chesapeake will conduct an aggressive exploration program including detailed geologic mapping, channel sampling and geophysical surveys at El Duraznito. The work program will evaluate the extent of the productive subparallel quartz structures and define high priority drill targets.

Presently, Chesapeake is well funded with $17.5 million in cash and marketable securities.

ALS Global was the analytical laboratory used for the samples included in this release. The samples were crushed and ground at ALS facilities in Guadalajara and Zacatecas, Mexico and a representative sample split was sent to Vancouver, Canada for assaying using ALS methods Au-ICP21 and ME-ICP61. Alberto Galicia, P. Geo, Vice President Exploration for Chesapeake and a Qualified Person as defined by NI43-101, has reviewed and approved the technical information in this release.

For more information on Chesapeake and its Metates Project and regional exploration program, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel
President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward looking statements and information herein include, but are not limited to, statements and assumptions regarding completion of payments for the El Duraznito property, gold and silver mineralization estimates, , geologic interpretations and comparisons to the San Dimas mine, timing and expenditures to explore and develop prospective mineral properties, gold, silver and related metal resources, grades and recoveries, and the ability to fund mine development. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Chesapeake and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: failure to complete the acquisition of the El Duraznito property, uncertainty in geologic interpretation and comparisons, ability to finance exploration and mine development, fluctuations in the prices of gold, silver and zinc, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining(including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding);inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward- looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

[LoneClone] Chesapeake Updates Exploration at Metates Regional Prospects newsfilecorp.com ...

LoneClone — 2/28/2020 4:20:14 PM

Chesapeake Updates Exploration at Metates Regional Prospects

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - February 28, 2020) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide a further update on the exploration program at its Crisy and San Javier prospects in Durango State, Mexico. Crisy and San Javier are located 15 kilometers south and 12 kilometers southeast, respectively, of Chesapeake's world-class Metates Project. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world.

Crisy and San Javier were discovered in 2019 during a generative regional exploration program. The area covering both prospects contains several zones of gold-silver mineralization which have developed along regional, deep-seated northwest-trending fault zones. Mineralization is associated with intermediate intrusive rocks that have altered the enclosing sedimentary rocks over an area more than 15 kilometers in diameter.

Crisy Prospect

Since early January, Chesapeake has completed four additional bulldozer trenches totaling 350 meters in length at Crisy. The new trenches were excavated to the southeast of the previously reported trenches (see CKG NR6-2019) and confirm that mineralization extends 300 meters further along strike and beyond. Bulldozer trenching has defined a mineralized area that extends across a ridgeline and measures 600 meters along strike, up to 200 meters in width and at least 150 meters vertically along the predominant northwest-southeast trend.

Channel samples across quartz breccia veins from the new bulldozer trenches returned the following results:

57 meters of 1.1 g/t gold and 10 g/t silver
11 meters of 1.0 g/t gold and 10 g/t silver
12 meters of 1.1 g/t gold and 33 g/t silver
7 meters of 2.2 g/t gold and 29 g/t silver

An initial 15 kilometer Induced Polarization and Resistivity Survey ("IP Survey") is underway at Crisy over the area of the bulldozer trenches and covers a further 500 meters to the southeast. Preliminary IP results correlate well with the known gold-silver mineralized zones identified by trenching and suggest the outcropping quartz breccia zones extend to over 200 meters depth. The geophysics also indicates the IP anomaly continues along strike to the southeast limit of the survey grid and remains open.

The IP Survey also defined a large, northwest-southeast trending high chargeability anomaly about 200 meters to the southwest of the bulldozer trenching. The blind IP anomaly indicates a target more than 500 meters wide and 500 meters long. Surface samples from limited outcrops in the anomalous area returned 4 meters of 1.2 g/t gold, and 5 meters of 1.0 g/t gold and 13 g/t silver. Bulldozer trenching is planned to test this promising area of coincident mineralization and geophysical anomalies.

Four kilometers to the northwest of the area of bulldozer trenching and along the same structural system, another significant target area has been identified. This area hosts multiple quartz structures within a corridor over 800 meters long, 200 meters wide and with 150 meters of vertical extent. Individual quartz veins and en echelon zones range from 1 to 12 meters in width with assay values of 9 meters of 1.0 g/t gold, 2 meters of 2.7 g/t gold and 10 g/t silver, 2 meters of 1.7 g/t gold, 12 meters of 0.8 g/t gold and 1.3 meters of 3.1 g/t gold and 10 g/t silver.

Regional exploration has now identified several distinct target areas hosting quartz veins, breccia and local stockwork along the 7 kilometer long hydrothermal system at Crisy. Systematic exploration including detailed geological mapping, sampling, mechanized trenching and geophysical surveys continues to advance and prioritize targets for drilling. Given the results obtained to date, Crisy is developing into a potential multiple deposit, camp-sized project.

San Javier Prospect

The San Javier prospect is located 7 kilometers northeast of Crisy and is associated with the same regional intrusive that generated distinct hydrothermal systems and associated gold-silver prospects. Follow-up exploration at San Javier West discovered a northeast trending high grade gold-silver quartz vein structure in addition to the northwest striking system reported last year (see CKG NR5-2019). The north-east trending structure has been traced for 1200 meters along strike, over 300 meters in elevation and intersects near the mid-point of the northwest-trending vein system. Both mineralized structures host quartz vein and quartz breccia within highly altered intermediate intrusive rocks and lesser sandstone and mudstone and remain open along strike.

Channel samples from the northeast trending structure returned the following results:

2.8 meters of 9.6 g/t gold and 143 g/t silver
1.0 meters of 3.3 g/t gold and 391 g/t silver
1.4 meters of 2.3 g/t gold and 18 g/t silver
1.0 meters of 2.1 g/t gold and 113 g/t silver

Exploration continues at San Javier West with IP surveys and mechanized trenching to test the potential for disseminated and stockwork type mineralization hosted within highly altered intrusive rocks and bulk minable mineralization associated with structural intersections. The work program will also evaluate the geological and structural relationship of San Javier West with the quartz stockworks of San Javier North (60 meters of 71 g/t silver) and the disseminated mineralization of San Javier South (48 m of 1.0 g/t gold) (see CKG NR5-2019).

Presently, Chesapeake is well funded with $17.5 million in cash and marketable securities.

ALS Global was the analytical laboratory used for the samples included in this release. The samples were crushed and ground at ALS facilities in Zacatecas, Mexico and a representative sample split was sent to Vancouver, Canada for assaying using ALS methods Au-ICP21 and ME-ICP61.

Alberto Galicia, P. Geo, Vice President Exploration for Chesapeake and a Qualified Person as defined by NI43-101, has reviewed the technical information in this release.

For more information on Chesapeake and its Metates Project and regional exploration program, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel
President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward looking statements and information herein include, but are not limited to, statements regarding prospective gold, silver and related metal production, timing and expenditures to explore and develop prospective mineral properties, gold, silver and related metal resources, grades and recoveries, cash costs per ounce, capital and operating expenditures and sustaining capital and the ability to fund mine development. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Chesapeake and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: ability to finance mine development, fluctuations in the prices of gold, silver and zinc, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining(including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding);inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward- looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

[LoneClone] Chesapeake Gold: Trenching Cuts Significant Mineralization at Crisy Discovery ...

LoneClone — 12/20/2019 7:15:42 PM

Chesapeake Gold: Trenching Cuts Significant Mineralization at Crisy Discovery

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - December 19, 2019) - Chesapeake Gold Corp (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide further exploration results from a bulldozer trenching program on its Crisy prospect. Crisy is one of several new grassroots discoveries generated from an on-going regional exploration program southeast of its world class Metates Project in Durango State, Mexico. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Crisy is located about 15 kilometers south of Metates.

Since mid October 2019, Chesapeake has completed an additional 400 meters of bulldozer trenching at Crisy. Recent exploration has focused on extending the trenches previously reported (see CKG NR5-2019) with deeper excavation to bedrock. The trenches spaced at 80 meter intervals, cut across the prevailing, northwest-southeast strike of the mineralization over a ridge at different elevations. The new trench samples significantly expanded the width of the gold-silver mineralized zones with good grades.

TRENCHING RESULTS

Initial Trench October 2019	Expanded Trench December 2019

38 meters of 1.9 g/t gold and 11 g/t silver	177 meters of 1.0 g/t gold and 10 g/t silver including 87 meters of 1.4 g/t gold and 17 g/t silver

24 meters of 2.4 g/t gold and 80 g/t silver	88 meters of 1.3 g/t gold and 28 g/t silver including 41 meters of 2.0 g/t gold and 56 g/t silver

19 meters of 0.8 g/t gold and 92 g/t silver	24 meters of 0.8 g/t gold and 75 g/t silver

43 meters of 1.4 g/t gold and 75 g/t silver	66 meters of 1.1 g/t gold and 51 g/t silver

Approximately 200 meters to the northwest, a trench located 100 meters below the stockwork mineralized zone cut the silicified structure including post-mineral felsic dikes and returned values ranging from 0.2 g/t to 1.0 g/t gold over 40 meters. In addition, 300 meters to the southeast, outcrops of subparallel quartz structures returned high grade values including 4 meters of 3.8 g/t gold, 34 g/t silver; 4 meters of 2.8 g/t gold, 487 g/t silver and 3 meters of 4.3 g/t gold, 934 g/t silver. A recent bulldozer trench in this area cut a 50 meter wide quartz breccia-vein swarm. Assay results are pending. Chesapeake plans to excavate additional test trenches in this southeast extension area.

To date, the bulldozer trenching at Crisy focused in the southern portion of a larger northwest-southeast trending mineralized corridor over 6 kilometers long, 2.5 kilometers wide with at least 400 meters of vertical extent. Along this trend, numerous sulfide-bearing quartz breccias, veins and silicified stockwork zones with disseminated gold-silver mineralization have been mapped and sampled. Mineralization is associated with deep seated faults and typically hosted within Cretaceous-age fine-grained sandstone and shale which are locally altered to sericite rich rocks especially near the contact with intrusive felsic dikes.

So far, two additional target areas have been identified along trend 3 kilometers to the northwest and a third target, 2 kilometers southeast of the trenching program. The three targets have similar host rock alterations and quartz mineralized structures to the area of the bulldozer trenching. Preliminary sampling of each target returned 9 meters of 1 g/t gold and 2 meters of 2.7 g/t gold, 5 meters of 1 g/t gold, 17 g/t silver and 3 meters of 4.6 g/t gold, respectively.

District reconnaissance will continue in 2020 to discover and define additional mineralized zones targeting quartz stockworks, disseminations and breccia-vein swarms. Excellent potential exists within the extensive hydrothermal system at Crisy to develop a multiple areas mining camp. Planned exploration includes mechanized trenching, channel sampling, geological mapping and geophysical surveys.

Presently, Chesapeake is well funded with $17.5 million in cash and marketable securities.

ALS Global was the analytical laboratory used for the samples included in this release. The samples were crushed and ground at ALS facilities in Zacatecas, Mexico and a representative sample split was sent to Vancouver, Canada for assaying using ALS methods Au-ICP21 and ME-ICP61.

Alberto Galicia, P. Geo, Chesapeake's Vice President Exploration and a Qualified Person as defined by NI43-101, has reviewed the technical information in this release.

For more information on Chesapeake and its Metates Project and regional exploration program, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel
President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward looking statements and information herein include, but are not limited to, statements regarding prospective gold, silver and related metal production, timing and expenditures to explore and develop prospective mineral properties, gold, silver and related metal resources, grades and recoveries, cash costs per ounce, capital and operating expenditures and sustaining capital and the ability to fund mine development. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Chesapeake and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: ability to finance mine development, fluctuations in the prices of gold, silver and zinc, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining(including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding);inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward- looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

[LoneClone] Chesapeake Expands Footprint of Emerging Gold-Silver Camp near Metates Signifi...

LoneClone — 10/10/2019 6:47:46 PM

Chesapeake Expands Footprint of Emerging Gold-Silver Camp near Metates Significant Mechanized Trench Results Returned from Crisy Discovery

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2019) - Chesapeake Gold Corp (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to provide updated results from its on-going regional exploration program near its world class Metates Project in Durango State, Mexico. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Three significant gold-silver prospects, Crisy, San Javier and Cerro Pelon, continue to demonstrate district scale potential within different regional structural settings associated with intermediate composition intrusive rocks. Chesapeake has assembled a 10,000 hectare land package covering these three prospects.

EXPLORATION HIGHLIGHTS

P. Randy Reifel, President, stated, "Regional exploration continues to discover significant gold-silver hydrothermal mineralization in this highly prospective region surrounding Metates. We are developing an impressive organic pipeline of satellite projects that are strategically located to capitalize on the potential future world class mining complex and supporting infrastructure at Metates."

CRISY

Crisy is a new grassroots discovery made in 2019 located 15 kilometres south of Metates. Detailed mapping, sampling and trenching extended the strike length of the northwest trending mineralized system from 2 kilometres (see CKG NR1-2019) to over 6 kilometres with at least 400 metres of vertical extent. Numerous en echelon sulfide-bearing quartz breccias, veins and silicified stockwork zones with disseminated gold-silver mineralization are hosted within fine-grained sandstone and mudstone broadly associated with porphyritic subvolcanic dykes.

To advance the exploration program, a five kilometer access road was constructed to Crisy. Topography limited bulldozer testing to an area approximately 400 metres along trend with trenches at six different locations spaced at least 80 metres apart. The area explored represents a portion of a larger well-mineralized structural zone measuring 850 metres in length, up to 300 metres wide and more than 100 metres vertically. Channel sampling within the trenches was generally cut across the strike of the northwest trending mineralization and include the following results:

43 metres of 1.4 g/t gold and 75 g/t silver
38 metres of 1.9 g/t gold and 11 g/t silver
24 metres of 2.4 g/t gold and 80 g/t silver
19 metres of 0.8 g/t gold and 92 g/t silver
12 metres of 2.5 g/t gold and 539 g/t silver

Crisy remains open-ended to the northwest and southeast where several areas of alteration and mineralization have been identified. Follow-up bulldozer trenching will explore the potential of other wide structural mineralized zones existing within the known 6 kilometer long system as well as further extensions along strike. In addition, most of the trenches ended in mineralization and will be extended and deepened to allow sampling of possible breccia-veins and disseminations covered by overburden.

SAN JAVIER

San Javier is located 12 kilometres southeast of Metates. At San Javier, a 7 kilometer long hydrothermally altered corridor is associated with ring and radial structures developed along the margins of an intermediate composition intrusion. Prior work at San Javier has defined two highly altered mineralized zones, San Javier South and San Javier North, associated with disseminated and stockwork sulfide mineralization. Previous rock channel sampling from these zones reported 48 metres of 1.0 g/t gold and 60 metres of 71 g/t silver, respectively (see CKG NR1-2019).

Further to the west, recent exploration has defined a zone of intense alteration with significant mineralization ("San Javier West"). San Javier West comprises a low to intermediate sulfidation epithermal vein system hosted within clay-sericite-quartz altered sandstone, shale and intermediate intrusive rocks. Geologic mapping and sampling have identified at least six different subparallel vein-hosting structures striking north to northwest that can be traced for over one kilometer along strike and 350 metres in elevation.

Preliminary channel sampling has returned the following results from these different veins which from east to west include:

Vein 1

3.0 metres of 1.5 g/t gold and 220 g/t silver
2.5 metres of 2.3 g/t gold and 61 g/t silver
1.6 metres of 8.3 g/t gold and 1,972 g/t silver
1.7 metres of 3.1 g/t gold and 362 g/t silver
1.3 metres of 3.4 g/t gold and 513 g/t silver

Vein 2

1.6 metres of 2.1 g/t gold and 37 g/t silver
1.2 metres of 1.5 g/t gold and 32 g/t silver

Vein 3

1.2 metres of 3.0 g/t gold and 1,205 g/t silver

Vein 4

5.0 metres of 1.2 g/t gold and 400 g/t silver
1.6 metres of 3.0 g/t gold and 264 g/t silver

Vein 5

2.0 metres of 0.6 g/t gold and 140 g/t silver

Vein 6

12 metres of 1.6 g/t gold and 25 g/t silver

Follow-up exploration will prioritize mechanized trenching, detailed geological mapping and channel sampling along structurally controlled dilatant zones at San Javier West. Other areas of stockwork and disseminated sulfide mineralization associated with intrusive rocks hosting anomalous gold, silver, zinc and molybdenum values were also identified and will be further evaluated.

CERRO PELON

Cerro Pelon is located 24 kilometres east of Metates where prior sampling reported 15 metres of 1.0 g/t gold (see CKG NR1-2019). A second northwest striking subparallel structure was recently discovered at Cerro Pelon which hosts quartz veinlet breccia. Two channel samples across this structure returned 3.0 metres of 33 g/t gold and 10 metres of 3.4 g/t gold. A stream sediment geochemistry program covering 1.5 kilometres along strike of this newly recognized structure is currently being undertaken along with geologic mapping and rock chip sampling.

Chesapeake is presently well-funded with $18 million in cash and marketable securities.

ALS Global analytical laboratory was used for the samples included in this release. The samples were crushed and ground at ALS facilities in Zacatecas, Mexico and a representative sample was split and sent to Vancouver, Canada for assaying using ALS methods Au-ICP21 and ME-ICP61.

Alberto Galicia, P. Geo, Vice President Exploration for Chesapeake and a Qualified Person as defined by NI43-101, has reviewed the technical information in this release.

For more information on Chesapeake and its Metates Project and regional exploration program, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel
President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward looking statements and information herein include, but are not limited to, statements regarding prospective gold and silver exploration results, timing and expenditures to explore and develop prospective mineral properties, gold, silver and related metal resources, grades and recoveries. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Chesapeake and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: ability to finance mine development, fluctuations in the prices of gold and silver fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining(including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding);inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward- looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Bulldozer trench samples across multiple mineralized zones at Crisy returned strong results including 43 metres of 1.4 g/t gold, 75 g/t silver and 24 metres of 2.4 g/t gold, 80 g/t silver

Generative exploration at San Javier defined a new area of epithermal veins where channel samples returned 12 metres of 1.6 g/t gold, 25 g/t silver, 1.6 metres of 8.3 g/t gold and 1,972 g/t silver, along with other significant results

A second northwest trending quartz breccia zone was discovered at Cerro Pelon which yielded channel samples of 3.0 metres of 33 g/t gold and 10 metres of 3.4 g/t gold

[LoneClone] Chesapeake Acquires Metates Royalty from Wheaton Precious Metals Corp. ca.finan...

LoneClone — 8/9/2019 8:35:36 PM

Chesapeake Acquires Metates Royalty from Wheaton Precious Metals Corp.

ca.finance.yahoo.com

NewsfileAugust 9, 2019

Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Chesapeake Gold Corp. ("Chesapeake") wishes to announce that it has exercised an option to re-purchase a one percent (1.0%) net smelter returns royalty ("NSR") on its 100% owned Metates gold-silver-zinc project located in Durango State, Mexico. The NSR was purchased from Wheaton Precious Metals (Cayman) Co. ("Wheaton"), a subsidiary of Wheaton Precious Metals Corp. for US$9.0 million.

In August 2014, Chesapeake assigned its interest in a 1.5% NSR ("Royalty") on Metates to Wheaton in consideration of US$9.0 million. As part of the assignment, Chesapeake had the right at any time for a period of five years to purchase two-thirds of the Royalty (that being the 1% NSR from Wheaton) for US$9.0 million, with Wheaton continuing to hold a 0.5% NSR.

P. Randy Reifel, President, commented, "Metates hosts one of the largest undeveloped gold and silver deposits in the world. Metates is located in a miner-friendly jurisdiction relatively close to key existing infrastructure. We believe gold and silver are in the early stage of a major bull market. The NSR investment will provide leverage and optionality during a rising metals cycle."

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel

President

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defines in policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release."

To view the source version of this press release, please visit newsfilecorp.com

[akpirate] But why does the market like it so? And how many more 52 wk highs are in the ne...

akpirate — 8/2/2019 10:13:33 PM

But why does the market like it so?

And how many more 52 wk highs are in the near future?

[Lhn5] The market likes the transaction

Lhn5 — 7/30/2019 3:29:08 PM

[LoneClone] If Reifel continues spending corporate funds at his usual rate, that PP should b...

LoneClone — 7/30/2019 2:26:41 PM

If Reifel continues spending corporate funds at his usual rate, that PP should be sufficient to last the company for 15-20 years...

LC

[LoneClone] Chesapeake Gold Announces $15 Million Private Placement Financing ca.finance.ya...

LoneClone — 7/30/2019 2:25:29 PM

Chesapeake Gold Announces $15 Million Private Placement Financing

ca.finance.yahoo.com

NewsfileJuly 29, 2019

Vancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - Chesapeake Gold Corp. (TSXV: CKG) ("Chesapeake" or the "Company"), is pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation as lead underwriter (the "Underwriter"), whereby the Underwriter will purchase, on a bought-deal basis, 5,334,000 common shares of Chesapeake (the "Common Shares") at a price of $2.25 per Common Share for gross proceeds to the Company of $12,001,500 (the "Offering"). The lead order for the Offering is from Mr. Eric Sprott, who intends to subscribe for $12 million of the Offering.

In addition, Chesapeake has entered into a non-brokered private placement of 1,334,000 Common Shares at a price of $2.25 per common share for gross proceeds of $3,001,500. The Sun Valley Gold Master Fund, Ltd. is the sole subscriber of the non-brokered private placement financing.

The private placement financing is scheduled to close on or about August 19, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Common Shares to be issued under the Offering will have a hold period of four months and one day from the Closing. The net proceeds from the private placement financing will be used by Chesapeake for working capital and general corporate purposes.

In consideration for their services, the Underwriter will receive a cash commission of 4.0% of the gross proceeds of the Offering from Eric Sprott or any of his associates or affiliates.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Chesapeake

Chesapeake Gold Corp. is a development stage company focusing on the discovery, acquisition and development of major gold-silver deposits in North and Central America. The Company's primary asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas.

Chesapeake also has a portfolio of exploration properties in Mexico comprising 119,000 hectares in the states of Durango, Sinaloa, Oaxaca and Veracruz. The Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa gold project in Nevada and two Mexican properties, La Gitana and La Cecilia.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP

"P. Randy Reifel"

P. Randy Reifel
President

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release."

Forward Looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to completion of the Offering and use of proceeds of the Offering. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, closing of the Offering, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry, and political instability;. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Not for Distribution to United States Newswire Services or for Dissemination in the United States.

Corporate Logo

To view the source version of this press release, please visit newsfilecorp.com

[TheSlowLane] Nice action, strong volume (vs. average volume), steady as she goes...I hope.

TheSlowLane — 7/23/2019 3:37:00 PM

[Road kill] Still could be a b wave. I personally won’t have much confidence unless silver...

Road kill — 7/20/2019 9:16:56 PM

Still could be a b wave. I personally won’t have much confidence unless silver pops through 17.70. If that happens then the whole complex is in bull market mode (ie not a b wave). That doesn’t mean I’m not in this. I have longer term positions and short term leveraged positions.

[TheSlowLane] Thanks Anchan. CKG broke out of the top side of the channel it's been in on 3x ...

TheSlowLane — 7/19/2019 5:22:40 AM

Thanks Anchan. CKG broke out of the top side of the channel it's been in on 3x average daily volume. Volume has increased for six sessions in a row, with the last four above the average daily volume. Now very slightly overbought but sometimes things stay that way for a while.

[Anchan] Hi, TheSlowLane. Good to see you still afloat. Third time lucky: Junior and mid ...

Anchan — 7/17/2019 10:26:55 PM

Hi, TheSlowLane. Good to see you still afloat. Third time lucky: Junior and mid Australian gold miners have doubled+ over the past 2 years (partly thanks to falling Aussie dollar). US$ dollar-based PM miners have now begun to catch up. I believe it's going to be a long ride towards shore.
Example: Evolution Mining (Australia, market cap A$7.5 B)

[Claude Cormier] For sure when a stock move higher, it can help. Look what happened in 2016 when ...

Claude Cormier — 7/17/2019 4:06:22 PM

For sure when a stock move higher, it can help. Look what happened in 2016 when CKG reached $6+ on no news but gold moving up. There was a promotion campaign, that helped as well.

This time, it is taking more time for CKG to react to gold prices. But it will happen if gold continues to move up.

[TheSlowLane] For context, GDXJ and GDX both made moves above overhead resistance and both hav...

TheSlowLane — 7/17/2019 3:43:03 PM

For context, GDXJ and GDX both made moves above overhead resistance and both have room to run, looking at RSI, for example.

[Lhn5] Doesn't it have to start going up first to develop any real interest or volume?

Lhn5 — 7/17/2019 3:27:40 PM

[Claude Cormier] Up 11% yes but on a small 20K shares.

Claude Cormier — 7/17/2019 1:18:36 PM

[daveinmarinca] Up 11% this morning on Au's spike, which surprises me given COT spec longs ....H...

daveinmarinca — 7/17/2019 1:00:21 PM

Up 11% this morning on Au's spike, which surprises me given COT spec longs ....Hamilton
321gold.com
maybe Au just bulldozes its way up ..... today's news....Judy Shelton nomination zerohedge.com ?....Deutsche Bank
zerohedge.com
? ....something we can't see? Damned if I know, but Randy's stalwarts could be "sitting on a gold mine" :<)