An anonymous director reports

CHESAPEAKE GOLD ANNOUNCES STOCK OPTION GRANT

Chesapeake Gold Corp. has granted stock options under its stock option plan to purchase an aggregate of 227,000 common shares of the company at an exercise price of $2.95 per share for a five-year term expiring July 31, 2031. The stock options were granted to officers of the company. The options will vest and be exercisable on the basis of 25 per cent annually, commencing July 31, 2027, the first anniversary of the date of the grant.

About Chesapeake Gold Corp.

Chesapeake Gold'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 gram 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 Jan. 13, 2023, and news release dated Feb. 22, 2023.