Chesapeake Gold Announces Stock Option Grant

Rhea-AI Summary

Chesapeake Gold (OTCQX: CHPGF) granted stock options to directors and a consultant to purchase an aggregate of 2,200,000 common shares at an exercise price of C$3.40 per share. The options have a five-year term expiring May 7, 2031 and vest 25% annually beginning May 7, 2027.

Options were granted under the company stock option plan; contact information is provided for investor inquiries.

AI-generated analysis. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - May 7, 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 2,200,000 common shares of the Company at an exercise price of C$3.40 per share for a five-year term expiring May 7, 2031. The stock options were granted to directors and a consultant of the Company. The options will vest and be exercisable on the basis of 25% annually, commencing May 7, 2027, the first anniversary of the date of the grant.

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 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 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/296611

FAQ

What did Chesapeake Gold (CHPGF) announce on May 8, 2026 about stock options?

Chesapeake granted options for 2,200,000 common shares at C$3.40 each with a five-year term. According to the company, options vest 25% annually starting May 7, 2027 and expire May 7, 2031.

Who received the Chesapeake (CHPGF) stock option grants and when do they vest?

The options were granted to the company's directors and a consultant. According to the company, vesting occurs 25% annually, commencing on the first anniversary of the grant, May 7, 2027.

What is the exercise price and expiry date of the CHPGF options granted May 7, 2026?

The exercise price is C$3.40 per share and the options expire on May 7, 2031. According to the company, the options were granted under its Stock Option Plan.

How can investors get more information about Chesapeake Gold's (CHPGF) option grant?

Investors can contact the company or visit its website for details. According to the company, inquiries can be directed to Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.