Mr. Jean-Paul Tsotsos reports

CHESAPEAKE ANNOUNCES MANAGEMENT UPDATES

Chesapeake Gold Corp. has appointed Jean-Paul Tsotsos as the company's permanent chief executive officer, effective Jan. 1, 2026, following his service as interim CEO since Nov. 1, 2023.

Chesapeake is also pleased to announce the appointment of Rajesh Vyas as chief financial officer and corporate secretary, effective Jan. 1, 2026. Mr. Vyas is a seasoned finance executive with over 25 years of experience in the mining industry, including international leadership roles. Mr. Vyas started his mining career as a controller at the Suriname operations of Iamgold Corp. and has since held progressively senior roles, including vice-president, corporate controller and corporate secretary at Sierra Metals, director of finance at Alamos Gold, and operations controller at Richmont Mines. Mr. Vyas is a chartered accountant and a CPA with a strong record in governance, investor relations and information-technology-enabled finance transformation.

The company further announces that Navin Sandhu stepped down as interim chief financial officer, effective Dec. 31, 2025. Bernard Poznanski, the company's corporate lawyer, has also stepped down as corporate secretary, effective Dec. 31, 2025. The company would like to thank both Mr. Sandhu and Mr. Poznanski for their dedication and valuable contributions during their respective tenures.

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 Americas with over 16.77 million ounces of gold at 0.57 gram per tonne and 423.2 million ounces of silver at 14.3 grams per tonne 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 gram per tonne and 59.0 million ounces of silver at 13.2 grams per tonne 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.