Chesapeake Gold Announces Stock Option Grant

Vancouver, October 6, 2022 - 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 60,000 common shares (the "Optioned Shares") of the Company at an exercise price of C$1.92 per share for a 5 year term expiring 28^th September, 2027. The stock options were granted to officers of the Company. The options will vest and be exercisable on the basis of 25% annually, commencing 28^th September, 2023, 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 Americas.

For Further Information:

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

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139796