Chesapeake Gold Completes Sale of Tatatila Project for 14.99% of Mexican Gold

About this update from Chesapeake Gold Corp.

[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - November 12, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that, pursuant to the definitive agreement previously announced in the Chesapeake news release dated October 1, 2025, it has completed the sale of its Tatatila gold-copper project ("Tatatila") located in Veracruz, Mexico to Mexican Gold Mining Corp. (TSXV: MEX) (OTCQB: MEXGF) ("Mexican Gold").","length":506,"tagName":"p"},{"type":"text","content":"At closing, Chesapeake acquired 4,451,361 common shares of Mexican Gold (the "Consideration Shares"), representing 14.99% of the outstanding Mexican Gold common shares on an undiluted basis. Chesapeake also received a 1.5% net smelter return royalty (the "Royalty"). Mexican Gold may repurchase 0.5% of the Royalty (reducing the Royalty to 1.0%) for U.S.$500,000 within ten (10) years from the date of execution of the agreement. Prior to the closing date, Chesapeake did not own any Mexican Gold common shares or other securities of Mexican Gold.","length":567,"tagName":"p"},{"type":"text","content":"The Consideration Shares are subject to a lock up (the "Lock Up"), in addition to the statutory four month and one day hold period commencing on the date of the issuance. On the one (1) year anniversary of the date of issuance and every six (6) months thereafter, 25% of the Consideration Shares shall be released from the Lock Up such that all Consideration Shares shall be released from Lock Up two and one-half (2.5) years from the date of issuance. Chesapeake has also agreed for a period of two and one-half (2.5) years to vote the Consideration Shares in accordance with Mexican Gold management instruction.","length":623,"tagName":"p"},{"type":"text","content":"Chesapeake acquired the Consideration Shares pursuant to the Assignment Agreement and for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of Mexican Gold. Chesapeake may acquire additional securities of Mexican Gold including on the open market or through private acquisitions or sell securities of Mexican Gold including on the open market or through private dispositions in the future depending on market conditions, reform...

More updates from Chesapeake Gold Corp.