Vancouver, British Columbia – (February 13, 2023) – Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company“) announces the grant of stock options under its Stock Option Plan to purchase an aggregate of 200,000 common shares (the “Optioned Shares“) of the Company at an exercise price of C$2.15 per share for a five-year term expiring February 7, 2028. The stock options were granted to directors of the Company. The options will vest and be exercisable on the basis of 25% annually, commencing February 7, 2024, the first anniversary of the date of the grant.

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 Americas1.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at or contact Alan Pangbourne at or +1 778 731 1362.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

1 Mexico’s biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.