Mr. Jean-Paul Tsotsos reports

CHESAPEAKE GOLD RECEIVES A U.S. PATENT FOR ENHANCED METAL RECOVERY FROM SULPHIDE ORES

Chesapeake Gold Corp. has received a United States patent (U.S. patent No. 12,595,529) for its proprietary method of enhanced metal recovery from sulphide ores. The patent, awarded by the U.S. Patent and Trademark Office, represents a significant achievement in Chesapeake's heap oxidation technology.

Jean-Paul Tsotsos, chief executive officer of Chesapeake, stated: "The U.S. patent is an important milestone for Chesapeake. The patent protects Chesapeake's technology and reinforces the strength of our intellectual property. The patent supports our corporate strategy to build shareholder value from the Technology, unlocking economic value from refractory sulphide gold and silver projects."

In addition to the issued U.S. patent No. 12,595,529, Chesapeake has patents issued and pending in the United States, Canada, Argentina, Australia, Brazil, Chile, Mexico, Peru and Africa. Chesapeake continues to optimize its technologies and expand its patent portfolio by filing patent applications for its inventions and improvements.

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 (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.

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