Mr. Alan Pangbourne reports

CHESAPEAKE GOLD ANNOUNCES AGM RESULTS

At the 2023 annual general meeting (AGM) held on June 6, 2023, in Vancouver, B.C., Chesapeake Gold Corp.'s shareholders voted in favour of all items of business. All director nominees were elected.

The Company's Stock Option Plan (the "Option Plan") was also approved by a majority of the shareholders. The Option Plan must be re-approved on an annual basis by the shareholders at each annual general meeting of the Company as required by the policies of the TSX Venture Exchange. The Option Plan is a "rolling 10%" stock option plan whereby the Company may issue, pursuant to options granted to eligible persons, up to maximum of 10% of the issued and outstanding common shares of the Company determined at the time of grant.

A total of 29,220,233 common shares were represented at the AGM, being 43.37% of the Company's issued and outstanding common shares. The following is a tabulation of the votes submitted by proxy:

Director Nominees Votes For  % of Votes Votes Withheld %Withheld

Randy Buffington  20,968,280   91.33%     1,990,985      8.67%  
Christian Falck   20,966,706   91.32%     1,992,559      8.68%  
Doug Flegg        20,717,118   90.23%     2,242,147      9.77%  
Lian Li           20,966,206   91.32%     1,993,059      8.68%  
Alan Pangbourne   22,545,418   98.20%      413,847       1.80%  
John Perston      20,967,106   91.32%     1,992,159      8.68%  
P. Randy Reifel   20,908,923   91.07%     2,050,342      8.93%

                                                                             Votes For  % of Votes

To appoint Grant Thornton LLP as auditor of the Company for the ensuing year 27,010,469   93.31%  
To approve and confirm the Company's "rolling 10%" stock option plan         20,685,997   90.10%  

Following the AGM, Chesapeake re-appointed Randy Reifel as Executive Chairman of the Board, Christian Falck as Audit Committee Chair and Lead Independent Director, and Lian Li as Compensation and Governance Committee Chair.

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