Vancouver, British Columbia--(Newsfile Corp. - January 31, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that it has been added to the Nasdaq Metals Focus Silver Miners Index effective January 29, 2024.

"We are excited that Chesapeake was chosen to join our first index, the Nasdaq Metals Focus Silver Miners Index, and believe that our selection to this index is further recognition of our progress and achievements," stated Jean-Paul Tsotsos, Interim Chief Executive Officer.

The Nasdaq Metals Focus Silver Miners Index is designed to track the performance of companies engaged in the silver mining industry. Companies are selected based on classification by Metals Focus, a leading independent precious metals research consultancy. Eligible companies include those that derive the majority of their revenues from silver mining, have a significant market share of global silver production, or are principally engaged in exploration and development activities related to new silver production. More information about the index can be found at https://indexes.nasdaqomx.com/Index/Overview/NMFSM.

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 located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas^[1] with 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 23, 2023.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit the Company's website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at [email protected] or +1-778-731-1362.

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.

¹ Mexico's biggest undeveloped gold deposits as published by Bnamericas, Tuesday, November 24, 2020.

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