Chesapeake Gold Announces Addition of Paul West-Sells and Jeff Stieber to the Board of Directors

Rhea-AI Summary

Chesapeake Gold Corp. (CHPGF) has strengthened its Board of Directors with two significant appointments. Paul West-Sells, who brings over 25 years of mining industry experience including executive roles at Western Copper and Gold Corporation and senior metallurgist positions at major mining companies, was elected at the June 18 annual meeting. Jeff Stieber, appointed effective June 20, 2025, adds 19 years of finance and accounting expertise from various mining companies. The appointments coincide with the retirement of long-time director Chris Falck, who will continue as an advisor. West-Sells holds a Ph.D. in Metals and Materials Engineering and is an Adjunct Professor at UBC, while Stieber is a Certified Public Accountant and Financial Modeling & Valuation Analyst.

Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce the recent election of Mr. Paul West-Sells to the Board of Directors of the Company (the "Board of Directors") at the Company's annual general meeting of shareholders held on June 18, 2025 (the "Meeting"), together with the returning incumbent directors P. Randy Reifel, Randy Buffington, Doug Flegg, Lian Li, and John Perston.

Mr. West-Sells has more than 25 years of experience in the mining industry and held executive management and senior metallurgist roles for numerous public companies. Mr. West-Sells served as Chief Executive Officer and Chief Operating Officer of Western Copper and Gold Corporation. Prior thereto, Mr. West-Sells was a Senior Metallurgist at Barrick, Placer Dome and BHP Minerals. Mr. West-Sells holds a Ph.D. in Metals and Materials Engineering from the University of British Columbia and continues to lecture at the University of British Columbia as an Adjunct Professor in Materials Engineering.

The Company is also pleased to announce the appointment of Mr. Jeff Stieber to the Board of Directors, effective June 20, 2025. Mr. Stieber brings 19 years of finance, accounting, strategy, and transaction experience to the Company, having served as a senior executive officer with Hycroft Mining, Klondex Mines, Tahoe Resources, White Pine Precious Metals, and Bendito Resources. He has experience across all stages of the mining project lifecycle, from guiding exploration-stage projects to advancing development assets into production and cash flow generation. Mr. Stieber is a Certified Public Accountant in the State of Nevada and a Certified Financial Modeling & Valuation Analyst.

Concurrently, the Company also advises that long-time director Chris Falck has decided to retire to pursue other opportunities and be closer to family. Mr. Falck will continue to serve as an advisor, where his vast knowledge will be leveraged.

P. Randy Reifel, Executive Chairman, commented, "On behalf of the Board, I am excited to welcome both Paul and Jeff to Chesapeake's team. Paul and Jeff bring a diversified wealth of experience and I look forward to their contributions in achieving our corporate objectives and milestones. I also sincerely thank Chris Falck for his years of dedication and commitment to the Company. Chris provided valuable insight and vital contributions as Lead Director and as a member of Board Committees during his tenure."

For Further Information:

For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com 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.

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 Americas¹ 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 22, 2023.

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¹ Mexico'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/256438

FAQ

Who are the new board members appointed to Chesapeake Gold (CHPGF) in June 2025?

Paul West-Sells and Jeff Stieber were appointed to Chesapeake Gold's Board of Directors. West-Sells was elected on June 18, and Stieber's appointment became effective June 20, 2025.

What experience does Paul West-Sells bring to Chesapeake Gold's board?

Paul West-Sells brings over 25 years of mining industry experience, having served as CEO and COO of Western Copper and Gold Corporation and as Senior Metallurgist at Barrick, Placer Dome, and BHP Minerals. He holds a Ph.D. in Metals and Materials Engineering from UBC.

What is Jeff Stieber's background and expertise?

Jeff Stieber brings 19 years of finance, accounting, strategy, and transaction experience, having served as a senior executive with companies like Hycroft Mining, Klondex Mines, and Tahoe Resources. He is a Certified Public Accountant and Financial Modeling & Valuation Analyst.

Who did Chris Falck retire from Chesapeake Gold's board?

Chris Falck, a long-time director of Chesapeake Gold, retired from the Board of Directors but will continue to serve as an advisor to the company.