Chesapeake Announces Management Update

VANCOUVER, B.C. – Chesapeake Gold Corp. (“Chesapeake” or the “Company”) (TSXV:CKG, OTCQX:CHPGF) today is announcing that the Company’s President and Chief Executive Officer, Alan Pangbourne will be stepping down from his role at the Company effective 1st?November 2023 for personal reasons. Mr. Pangbourne will continue to support Chesapeake as President and CEO in the coming months to ensure a smooth transition.?The Company will commence an executive search and announce the CEO replacement in due course.

“On behalf of the Board, I would like to thank Alan for his significant contributions and commitment to the Company over the past 2 and half years” stated P. Randy Reifel, Chesapeake’s Executive Chairman. “Alan has played a key role in leading the company and the development of the new technology as we move towards developing the Metates Project.”??The Board wishes him well with his future endeavours.

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 16.77 million ounces of gold and 423.2 million ounces of silver in the Measured and Indicated Mineral Resource and a further 2.13 million ounces of gold and 59.0 million ounces of silver in Inferred Mineral Resource. See technical report titled “Metates Sulphide Heap Leach Project Phase I dated December 15, 2022.”

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?[email protected]?or +1 778 731 1362.

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