Chesapeake Gold (CHPGF) Stock News, May-Dec 2025

Chesapeake Gold (OTCQX: CHPGF) completed the sale of its Tatatila gold-copper project to Mexican Gold Mining (OTCQB: MEXGF) on November 12, 2025.

At closing Chesapeake received 4,451,361 common shares of Mexican Gold representing 14.99% of outstanding shares on an undiluted basis and a 1.5% net smelter return royalty (NSR). Mexican Gold may repurchase 0.5% of the NSR for US$500,000 within ten years, reducing the NSR to 1.0% if exercised.

The Consideration Shares are subject to a statutory four-month plus one-day hold and an additional lock-up releasing 25% on the one-year anniversary and every six months thereafter, with full release at 2.5 years. Chesapeake agreed to vote the shares per Mexican Gold management instructions for 2.5 years and will file an early warning report on SEDAR+.

Chesapeake Gold (OTCQX: CHPGF) announced a second extension of its exploration agreement with the Community of San Juan de Camarones for the Metates property, extending the term an additional five years to October 2030.

The company said proprietary sulphide leach testwork is on schedule and progressing, with environmental and baseline studies underway to support a prefeasibility study (PFS) in 2026. Management emphasized a long-standing relationship with the Community and continued collaboration on a development plan and social benefits for the region.

Chesapeake Gold (OTCQX: CHPGF) has entered into a definitive agreement to sell its Tatatila gold-copper project in Veracruz State, Mexico to Mexican Gold Mining. The transaction terms include:

- Consideration shares representing 14.99% of Mexican Gold's outstanding common shares
- A 1.5% net smelter returns royalty, with Mexican Gold having the option to reduce it to 1.0% for US$500,000 within 10 years
- A lock-up period of 2.5 years with gradual 25% releases every six months after the first year
- Chesapeake's agreement to vote shares according to Mexican Gold management instruction for 2.5 years

The Tatatila project, discovered in 2007, surrounds Mexican Gold's Las Minas Project and includes several skarn prospects with potential resource extensions.

Chesapeake Gold (OTCQX: CHPGF) provided updates on its proprietary sulphide leach technology development and Lucy project exploration. The company's third phase of Metates metallurgical testwork is progressing toward a prefeasibility study in 2026, with encouraging early results from large-diameter PFS columns and 26 variability columns.

The company has received industry interest for its Technology, with three third-party projects now undergoing testing. At the Lucy project, exploration revealed a new mineralized corridor in the Central Zone, with significant gold findings including 29 metres of 0.94g/t gold. The Western Zone showed promising copper grades, including samples with 2.0% copper over 3 metres.

Chesapeake Gold Corp. (OTCQX: CHPGF) has announced the adoption of a new "fixed up to 10%" stock option plan to replace its previous "rolling up to 10%" stock option plan. Under the new Fixed Plan, the company is authorized to issue up to 7,209,338 common shares through stock options granted to eligible persons.

The transition maintains all existing options under the Prior Plan, which will now be governed by the terms of the new Fixed Plan. The implementation remains subject to final approval from the TSX Venture Exchange.

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.

Chesapeake Gold has completed a non-brokered private placement with Eric Sprott's corporation 2176423 Ontario Ltd. for gross proceeds of $4.44 million. The placement consisted of 3.7 million units priced at $1.20 per unit, with each unit comprising one common share and one-half share purchase warrant. Each warrant is exercisable at $1.65 per share for three years. Following the placement, Sprott's ownership increased from 13.4% to 17.9% of outstanding shares (19.9% on partially diluted basis). The proceeds will fund Chesapeake's proprietary oxidative leach technology advancement, ongoing exploration including the Lucy project, and working capital needs. The securities are subject to a hold period until October 14, 2025.

Chesapeake Gold Corp (CHPGF) has announced a non-brokered private placement of 3.7 million units at $1.20 per unit, raising $4.44 million. Eric Sprott, through his corporation 2176423 Ontario Ltd., is the sole subscriber. Each unit includes one common share and a half warrant, with each full warrant exercisable at $1.65 for three years. Post-placement, Sprott will control approximately 17.9% of outstanding shares (non-diluted) and 19.9% on a partially diluted basis. The proceeds will fund the company's proprietary oxidative leach technology testing at Metates, ongoing exploration including the Lucy project, and working capital. The private placement requires TSX Venture Exchange approval and includes a four-month hold period.

Chesapeake Gold Corp (OTCQX: CHPGF) announced the immediate resignation of Alan Pangbourne from its Board of Directors. Mr. Pangbourne is stepping down to pursue other opportunities. The company, which operates the Metates and Lucy Projects and develops proprietary oxidative leach technology, expressed gratitude for Mr. Pangbourne's services and wished him well in his future endeavors.