Chesapeake Gold Announces Stock Option Grant

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Chesapeake Gold (TSXV: CKG, OTCQX: CHPGF) granted stock options to purchase an aggregate of 227,000 common shares at an exercise price of C$2.95 per share. The options have a five-year term expiring July 31, 2031 and were granted to company officers.

The options vest 25% annually starting July 31, 2027, one year after the grant date. Chesapeake highlights its Metates Project in Durango, Mexico, which hosts 16.77 million ounces of gold and 423.2 million ounces of silver in Measured and Indicated resources, plus additional Inferred resources.

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Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - 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 227,000 common shares of the Company at an exercise price of C$2.95 per share for a five-year term expiring July 31, 2031. The stock options were granted to officers of the Company. The options will vest and be exercisable on the basis of 25% annually, commencing July 31, 2027, the first anniversary of the date of the grant.

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.

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.

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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/307811

FAQ

What stock option grant did Chesapeake Gold (OTCQX: CHPGF) announce on August 4, 2026?

Chesapeake Gold announced a grant of stock options for 227,000 common shares at C$2.95 per share. According to Chesapeake Gold, the options were issued to officers, have a five-year term to July 31, 2031, and follow the company’s Stock Option Plan.

What are the key terms of Chesapeake Gold’s new stock options, symbol CHPGF?

The options allow purchase of 227,000 Chesapeake Gold shares at an exercise price of C$2.95 for five years. According to Chesapeake Gold, these options expire July 31, 2031 and vest in four equal annual installments beginning July 31, 2027, for eligible company officers.

How do Chesapeake Gold’s August 2026 stock options vest and when are they exercisable?

The stock options vest and become exercisable in four equal 25% tranches starting July 31, 2027. According to Chesapeake Gold, vesting occurs annually on each anniversary of the July 31, 2026 grant date, over a total period of four years for the granted officers.

Who received the August 4, 2026 stock options from Chesapeake Gold (CHPGF)?

The August 4, 2026 stock options were granted to officers of Chesapeake Gold under its Stock Option Plan. According to Chesapeake Gold, these officer grants cover 227,000 shares in total and are intended to align management incentives with long-term shareholder interests.

What is Chesapeake Gold’s Metates Project and how large are its resources?

The Metates Project is Chesapeake Gold’s flagship gold-silver deposit in Durango State, Mexico. According to Chesapeake Gold, Metates hosts 16.77 million ounces of gold and 423.2 million ounces of silver in Measured and Indicated resources, plus additional gold and silver in the Inferred category.

Where is Chesapeake Gold’s Metates Project located and what resource categories are reported?

Metates is located in Durango State, Mexico and is described as a major undeveloped gold-silver deposit. According to Chesapeake Gold, it contains Measured and Indicated mineral resources and additional Inferred mineral resources, reported with specific tonnages, grades and contained ounces of gold and silver.