Mr. Randy Reifel reports

CHESAPEAKE ANNOUNCES MANAGEMENT UPDATE

Chesapeake Gold Corp.'s president and chief executive officer, Alan Pangbourne, will be stepping down from his role at the company effective Nov. 1, 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 two 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 Gold Corp.

Chesapeake Gold is focused on the discovery, acquisition and development of major gold-silver deposits in North America 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.

We seek Safe Harbor.