CHESAPEAKE GOLD ANNOUNCES ACQUISITION OF ALDERLEY GOLD CORP. CREATING A PLATFORM FOR FUTURE GROWTH AND MINING INNOVATION; ALAN PANGBOURNE TO BE APPOINTED CHIEF EXECUTIVE OFFICER

NR6-FINAL-12-10-20

Vancouver, British Columbia–(Newsfile Corp. – December 10, 2020) – Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company“), is pleased to announce that it has entered into a definitive agreement on December 9, 2020 (the “Agreement“) to acquire Alderley Gold Corp. (“Alderley“), a private British Columbia mining technology company. With the acquisition of Alderley, Chesapeake gains access to a proven and innovative precious metals processing technology (the “Technology“) together with certain asset rights and proprietary databases, creating the path towards a new growth oriented and innovative gold and silver producer. Chesapeake will now focus on progressing the Metates project towards production using the Technology in a heap leach operation.

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