CHESAPEAKE GOLD COMPLETES ACQUISITION OF ALDERLEY GOLD CORP. APPOINTMENTS OF DIRECTORS AND OFFICERS

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Vancouver, British Columbia–(Newsfile Corp. – January 20, 2021) –  Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (“Chesapeake” or the “Company“) is pleased to announce that it has completed the acquisition of Alderley Gold Corp. (“Alderley“), a private British Columbia mining technology company on the terms as previously announced by news release on December 10, 2020. With the acquisition of Alderley, Chesapeake gains access to an innovative precious metals oxidation 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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