Chesapeake Gold

Chesapeake Gold Corp. is a Canadian mining company focused on advancing the Metates Project, one of the world’s largest undeveloped gold-silver deposits, located in Durango, Mexico. With a measured and indicated resource base of 17 million ounces of gold (0.57 g/t) and 423 million ounces of silver (14.3 g/t), along with inferred resources of 2 million ounces of gold (0.47 g/t) and 59 million ounces of silver (13.2 g/t), Chesapeake is poised to become a major player in the precious metals sector.

Chesapeake has redefined the Metates Project through an innovative sulphide heap leach approach, significantly reducing initial capital costs while maintaining strong project economics. The company’s proprietary oxidative leach technology has demonstrated gold recoveries of up to 74%, offering a breakthrough in processing refractory gold deposits. In addition to Metates, Chesapeake is expanding its high-grade Lucy Project, a promising near-surface gold discovery in Sinaloa, Mexico.

With a well-funded balance sheet, strong community relations in Mexico, and a team of experienced mining professionals, Chesapeake is strategically positioned to develop its world-class assets and create long-term value for shareholders. The company trades on the TSX Venture Exchange (TSX.V: CKG) and OTCQX (CHPGF), offering investors exposure to a high-growth, undervalued gold-silver opportunity.

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Chesapeake Gold Corp. presents a compelling investment opportunity with its Metates Project, one of the largest undeveloped gold-silver assets globally, now optimized through a lower-cost heap leach development strategy. The 2021 Preliminary Economic Assessment (PEA) projects a 31-year mine life, with an initial throughput of 15,000 tonnes per day, producing an average of 147,000 gold-equivalent ounces per year. 

Beyond Metates, the company’s Lucy Project is emerging as a high-grade oxide gold discovery, with recent drilling intercepting 6.1 g/t gold over 24 meters from surface, highlighting significant near-term growth potential.

Chesapeake also holds a proprietary oxidative leach technology, enabling economic gold recovery from sulphide-hosted deposits, a potential game-changer for the industry. With rising gold prices, strong institutional backing (including Eric Sprott and Sun Valley Gold), and an asset trading at over a 90% discount to its development-stage peers, Chesapeake offers investors a unique opportunity to capitalize on a low-cost, high-growth gold-silver project in a favorable jurisdiction.

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Chesapeake Gold Corp. is led by a seasoned management team with deep expertise in mine development, metallurgical innovation, and corporate finance. The team is focused on advancing the Metates Project and maximizing shareholder value through strategic execution and technical excellence.

P. Randy Reifel – Executive Chairman
A respected figure in the mining industry with over 36 years of experience, Randy Reifel has played a key role in building and financing successful resource companies.

Jean-Paul Tsotsos – Interim Chief Executive Officer
With over 15 years of experience in resource development and capital markets, Jean-Paul Tsotsos brings a strong financial and strategic background to lead Chesapeake’s growth.

Navin Sandhu – Interim Chief Financial Officer
An experienced financial professional, Navin Sandhu oversees Chesapeake’s financial strategy, capital allocation, and corporate governance.

Alberto Galicia – Vice President, Exploration
With over 20 years of experience, Alberto Galicia leads Chesapeake’s exploration programs, leveraging his expertise in geology and mineral resource development.

Chesapeake’s executive team is supported by a strong Board of Directors, including industry veterans with extensive experience in mining, project finance, and environmental sustainability.

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Chesapeake Gold Corp. is executing a transformational growth strategy centered around advancing the Metates Sulphide Heap Leach Project while expanding its Lucy Gold Project and leveraging its proprietary oxidative leach technology to unlock new opportunities.

The 2021 PEA outlines a scalable 15,000 tpd “starter” heap leach project with a low-cost, financeable development plan. Chesapeake is preparing for a Pre-Feasibility Study (PFS) while progressing on environmental permitting and project financing.

2023 drilling confirmed a 700m mineralized corridor, with near-surface oxide gold. Chesapeake is continuing step-out drilling to expand the resource base and evaluate near-term development potential.

This proprietary process enhances gold recovery from refractory ores, positioning Chesapeake as a leader in metallurgical innovation. The company is conducting large-diameter test work and exploring potential licensing or partnerships to commercialize this technology.

Chesapeake is committed to reducing environmental impact, with a heap leach process that minimizes water use, energy consumption, and greenhouse gas emissions. Strong community relations in Mexico ensure long-term project stability and support.

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Chesapeake Gold Corp. is financially well-positioned to advance the Metates Project, supported by a strong treasury of ~C$13 million and a capital-efficient development plan. The 2021 Preliminary Economic Assessment (PEA) outlines a low-cost, financeable pathway to production, reducing upfront capital expenditures while maintaining strong project economics.

Key Financial Highlights (2021 PEA – Phase 1 Development)

• Initial Capital Expenditure (CAPEX): US$359 million (90% lower than the 2016 study)
• Sustaining CAPEX: US$176 million
• Mine Life: 31 years
• Average Annual Production (First 15 Years): 147,000 gold-equivalent ounces
• All-In Sustaining Cost (AISC): US$749 per ounce of gold
• Pre-Tax Net Present Value (NPV 5%): C$1.43 billion
• Pre-Tax Internal Rate of Return (IRR): 35%
• Payback Period: 2.5 years

With a compelling cost structure, Chesapeake is positioned as one of the lowest-cost emerging gold producers, offering substantial upside potential in a rising gold and silver price environment.

Additionally, the company is evaluating strategic funding options, including equity financing, potential joint ventures, or royalty streaming, to support its path toward production while maintaining a disciplined capital strategy.

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Chesapeake Gold Corp. is on the path to becoming a major North American gold-silver producer, driven by its world-class Metates Project and innovative heap leach development strategy. With a measured and indicated resource of 17 million ounces of gold and 423 million ounces of silver, Metates ranks among the largest undeveloped precious metal deposits globally, offering long-term production potential and strong project economics.

By dramatically reducing capital costs through its sulphide heap leach approach, Chesapeake has created a financeable, scalable, and environmentally responsible development plan. Combined with its proprietary oxidative leach technology, which enhances gold recoveries from refractory ores, the company is positioned at the forefront of metallurgical innovation in the mining sector.

Beyond Metates, Chesapeake’s Lucy Project adds further exploration upside, with high-grade near-surface oxide gold mineralization and potential for near-term development. The company’s strong financial position and a low burn rate, ensures flexibility in executing its growth strategy while evaluating strategic funding partnerships to maximize shareholder value.

With a seasoned management team, strong institutional backing, and a focus on sustainable development, Chesapeake Gold is well-positioned to deliver long-term value in a rising gold and silver market. For investors seeking exposure to an undervalued, large-scale, and de-risked mining project, Chesapeake presents a high-potential opportunity with significant upside.

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