Chesapeake Gold Announces Results from the Annual General Meeting

Vancouver, British Columbia--(Newsfile Corp. - May 20, 2021) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that at the 2021 Annual General Meeting ("AGM") held on May 18, 2021 in Vancouver, British Columbia, Chesapeake's shareholders voted in favour of all items of business. All seven director nominees were elected.

A total of 40,289,078 common shares were represented at the AGM, being 59.81% of the Company's issued and outstanding common shares. The following is a tabulation of the votes submitted by proxy:

Director Nominees	Votes For	% of Votes
Randy Buffington	32,947,939	99.15%
Christian Falck	32,801,057	98.71%
Doug Flegg	32,948,124	99.15%
Lian Li	33,105,752	99.63%
Alan Pangbourne	33,169,164	99.82%
John Perston	33,074,657	99.53%
P. Randy Reifel	31,989,650	96.27%

To re-appoint Saturna Group Chartered Professional Accounts LLP as auditor of the Company.

39,918,151

99.75%

To adopt the Company's proposed "rolling 10%" stock option plan.

32,540,269

97.92%

A recording of the AGM webcast is available on Chesapeake's website at https://www.chesapeakegold.com/annual/.

Following the AGM, Chesapeake re-appointed Randy Reifel as Chairman of the Board, Christian Falck as Audit Committee Chair and Lead Independent Director, and Lian Li as Compensation and Governance Committee Chair.

About Chesapeake

Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates") located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 18 million ounces of gold and over 500 million ounces of silver.

Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint") which owns the Talapoosa Gold Project in Nevada.

For Further Information:

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Randy Reifel or Alan Pangbourne at invest@chesapeakegold.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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