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Chesapeake Gold Corp.: Chesapeake Announces Stock Option Grant Vancouver, British Columbia (Newsfile Corp. - May 31, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ( Chesapeake or the Company ) announces the Board of Directors have granted 73,500 incentive stock options ( Options ) to Erick Underwood at an exercise price of $4.37 per share for a term of 5 years. The Options will vest and be exercisable on the basis of 25% annually, commencing May 31, 2022, 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-zinc deposits in the Americas with over 18 million ounces of gold and over 500 million ounces of silver.

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