NEWS

Vancouver, British Columbia–(Newsfile Corp. – August 4, 2020) – Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company“), is pleased to announce that it has arranged a non-brokered private placement of 4,000,000 common shares (“Common Shares“) at a price of $5.00 per share for gross proceeds of $20,000,000 (the “Private Placement“). Of that amount, $15,000,000 is being placed with Eric Sprott’s company, 2176423 Ontario Ltd., a large shareholder of Chesapeake holding 11.8% of the current issued and outstanding Common Shares. The Sun Valley Gold Master Fund, Ltd., an existing shareholder which holds 7.4% of the current issued and outstanding Common Shares, is subscribing for $5,000,000 of the Private

Vancouver, British Columbia–(Newsfile Corp. – May 15, 2020) – Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company”) announces that pursuant to its Stock Option Plan, the Board of Directors has granted incentive stock options (“Options”) to Mr. Chris Falck for the purchase of 400,000 common shares at an exercise price of $3.15 per share. Mr. Falck was appointed to the Company’s Board of Directors at the Annual General Meeting held December 18, 2019. The Options are exercisable for a term of five years from the date of the grant. The Options will vest and be exercisable on the basis of 25% annually commencing May 14, 2021, the first