Chesapeake Gold Announces Appointment of Vice President of Corporate Development and Investor Relations

Vancouver, April 18, 2023 - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the appointment of Mr. Jean-Paul Tsotsos as the Company's Vice President of Corporate Development and Investor Relations, effective May 29, 2023. Mr. Tsotsos has over 15 years of experience in corporate development, strategy, capital markets, project evaluation's and development.

Until recently, Mr. Tsotsos was the Manager of Corporate Development at Hudbay Minerals, a C$2 billion diversified copper and gold mining company that spans North and South America. Mr. Tsotsos was intimately involved in the development of the Snow Lake gold strategy in Manitoba, the repurchase of Copper World's minority partners' interest in Arizona and the acquisition of Mason Resources in Nevada. He was also responsible for project evaluations that led to several toe-hold investments, the structuring of joint venture agreements and the divestment of non-core properties to rebalance their portfolio of assets.

Prior to Hudbay, Mr. Tsotsos worked at BMO Capital Markets as a Metals & Mining Equity Research Associate, where he was responsible for over 20 precious metal equities and the commodities complex. Before joining BMO, Mr. Tsotsos held successively higher roles as a Professional Geologist in exploration from Royal Nickel Corporation to Dahrouge Geological Consulting. Jean-Paul earned a Masters in Business Administration with a Natural Resources, Energy and Environment Specialization from the University of Alberta, a Masters of Science and Honours Bachelor of Science from the University of Toronto and is a Professional Geoscientist registered with the Association of Professional Geoscientists of Ontario.

"The Company is pleased with the appointment of Mr. Tsotsos to Chesapeake's executive team," said Alan Pangbourne, Chief Executive Officer. "Mr. Tsotsos expertise and leadership will support the Company's efforts to advance the development of the Metates deposit in Mexico and look ahead to other opportunities and initiatives to grow Chesapeake."

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.

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 phone +1 604-731-1094.

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