Chesapeake Gold Corp. (“Chesapeake”) wishes to announce that it has exercised an option to re-purchase a one percent (1.0%) net smelter returns royalty (“NSR”) on its 100% owned Metates gold-silver-zinc project located in Durango State, Mexico. The NSR was purchased from Wheaton Precious Metals (Cayman) Co. (“Wheaton”), a subsidiary of Wheaton Precious Metals Corp. for US$9.0 million.