CHESAPEAKE GOLD CORP - CHPGF STOCK NEWS

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has announced positive metallurgical results for its Metates gold-silver project in Durango State, Mexico. The company's proprietary oxidative leach technology achieved gold recovery rates exceeding 70%, providing a foundation for a pre-feasibility study (PFS). Key findings include:

- Gold recovery increased from 33% with no pre-oxidation to ~74% after 204 days of oxidation
- Silver recoveries improved by over 20% after 146 days of oxidation
- The company has filed a new patent application based on innovative test work

Chesapeake plans to conduct further tests using larger diameter columns to finalize conditions for pilot plant and commercial operations. The company is also exploring opportunities to apply its technology to other sulphide gold deposits globally.

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has engaged ICP Securities Inc. for automated market making services. ICP will use its proprietary algorithm, ICP Premium™, in compliance with TSX Venture Exchange policies and applicable legislation. The agreement starts September 9, 2024, for an initial term of four months, automatically renewable monthly thereafter. Chesapeake will pay ICP a monthly fee of C$7,500 plus taxes. ICP's role is to correct temporary imbalances in supply and demand of Chesapeake's shares. No performance factors, stock options, or other compensation are included in the agreement. ICP currently holds no interest in Chesapeake but may acquire shares in the future.

Chesapeake Gold Corp. (CHPGF) announced successful results from its Phase 2 drilling program at the Lucy Project in Sinaloa, Mexico. The program extended the gold-bearing skarn corridor by 200 meters, now totaling 700 meters along the strike, with significant drill results including 5.2 g/t gold over 6 meters from the surface. The exploration involved 12 drill holes covering 939 meters and 101 geochemical samples, leading to detailed mapping for future drilling. A 63-line-kilometer ground magnetics survey was completed, identifying further targets for exploration. Early metallurgical tests showed up to 97% gold recoveries, supporting the feasibility of standard gold extraction methods.

Chesapeake Gold Corp. (TSXV: CKG, OTCQX: CHPGF) announced the completion of its acquisition of intellectual property rights related to sulphide leaching technology from Hycroft Mining Holding The acquisition includes patents, patent applications, and other technology assets. The transaction was finalized with a cash payment of $2,000,000 and the issuance of 1,026,518 common shares valued at $2.92 per share. These shares are under a hold period until October 5, 2024. The deal remains subject to the final approval of the TSX Venture Exchange.

Chesapeake Gold Corp. (TSXV: CKG, OTCQX: CHPGF) announced its participation in the 121 Mining Investment Conference in New York on June 3-4, 2024. Interim CEO Jean-Paul Tsotsos will present on the company's recent activities and future plans. The conference will feature over 80 mining companies and more than 250 investors participating in pre-arranged meetings and discussions on key industry developments.

Chesapeake Gold Corp (TSXV: CKG, OTCQX: CHPGF) announced an agreement to acquire Intellectual Property Rights from Hycroft Mining Holding The acquisition, valued at C$2,000,000 in cash and 1,026,518 common shares, includes patents, patent applications, and technology for leaching processes. This deal will terminate Alderley Gold Corp's existing licensing obligations, ending royalty payments and other liabilities. The transaction is anticipated to close by May 30, 2024, pending TSX Venture Exchange approval. CEO Jean-Paul Tsotsos highlighted this as a key step in Chesapeake's technological development.

Chesapeake Gold Corp. announces promising metallurgical test results at Lucy Project in Mexico, with up to 97% gold recoveries. The Phase 1 drill program reveals significant gold mineralization along a 500m corridor. The next phase of exploration is underway to further evaluate the discovery.

Chesapeake Gold Corp. (CHPGF) has been added to the Nasdaq Metals Focus Silver Miners Index, effective January 29, 2024. The company is excited about this recognition and believes it reflects their progress and achievements. The index tracks the performance of companies in the silver mining industry, selected based on classification by Metals Focus, a leading precious metals research consultancy.

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has completed a vertical short-form amalgamation with its subsidiary, American Gold Capital Corporation, streamlining its corporate structure and maintaining the same management. The resulting amalgamated company has adopted the name 'Chesapeake Gold Corp.' and the symbol 'CKG' on the TSX Venture Exchange and the symbol 'CHPGF' on the OTCQX remain unchanged.