Chesapeake Gold Adopts Fixed Stock Option Plan

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") announces that it has adopted a "fixed up to 10%" stock option plan (the "Fixed Plan") to replace its prior "rolling up to 10%" stock option plan (the "Prior Plan"). All outstanding options granted under the Prior Plan will continue to remain issued and governed under the terms of the Fixed Plan. Under the terms of the Fixed Plan, the Company may issue up to 7,209,338 common shares of the Company pursuant to the exercise of outstanding options granted to eligible persons under the Fixed Plan (including options granted under the Prior Plan). The Fixed Plan remains subject to final TSX Venture Exchange approval.

For Further Information:

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.

About Chesapeake

Chesapeake Gold Corp'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 Americas¹with over 16.77 million ounces of gold at 0.57 grams 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 January 13, 2023, and news release dated February 22, 2023.

¹Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261431

You May Also Be Interested In

• Correction: Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
• Trump: 40-60% of chip manufacturing will be in the U.S. - CNBC Interview
• CORRECTS AND REPLACES: Simply Solventless Provides Update on Filing of 2025 Annual Financial Statements and Related Management's Discussion and Analysis and Management Cease Trade Order