Slide 1: Corporate Presentation
CORPORATE PRESENTATION OCTOBER 2026 CKG: TSX.V CHPGF: OTCQX
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements include, without limitation, statements with respect to: the economic and project param
Slide 3: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Mineral Resource Estimates The PEA was prepared and filed by the Company and can be accessed under the Company's SEDAR+ profile at www.sedarplus.ca or on the Company's website at https://chesapeakegold.com/. The PEA was prepared in accordance with National
Slide 4: A Balanced Approach to Growth and Value Creation
Chesapeake Gold A Balanced Approach to Growth and Value Creation ▪ Metates – A Re-Invented Story ▪ Size & Leverage: One of the world’s largest undeveloped gold-silver deposits1 Talapoosa • M&I ~17Moz Au (0.57 g/t) & 423Moz Ag (14.3 g/t) 2 • Inf. ~2Moz Au (0.47 g/t) & 59Moz Ag (13.2 g/t) 2 ▪ Higher G
Slide 5: NASDAQ Metals Focus Silver Miners Index
Chesapeake Gold NASDAQ Metals Focus Silver Miners Index ▪ Chesapeake Gold’s addition to its first silver index is a recognition of the significant silver endowment and the advancement of the Metates project Metates is one of the world’s largest undeveloped gold-silver deposits1 1. Mexico’s biggest u
Slide 6: Metates – A Re-Invented Story
Metates – A Re-Invented Story Not How You Remember It → Waking A Sleeping Giant PAST (2016 PFS)1 CURRENT (2021 PEA)2 M&I ~19Moz Au & 503Moz Ag Contained Intrusive / Sedimentary M&I ~17Moz Au & 423Moz Ag Contained3 Maintains Large ✓ TOTAL RESOURCE Inf. ~1Moz Au & 16Moz Ag Contained Inf. ~2Moz Au & 59
Slide 7: Metates 2021 PEA Financial Summary
Metates 2021 PEA Financial Summary ▪ 2021 PEA: Smaller expandable LOM Metrics (Base Case) ‘starter’ project Initial Capex US$mm 359 Sustaining (incl. Closure) Capex US$mm 176 Throughput K tpd 15 Gold Grade g/t 0.76 • LOM Operating Cash Flow: Silver Grade g/t 15.71 C$3.5bn Gold Recovery % 70 Silver R
Slide 8: Heap Oxidation Technology: The Power to Transform the Precious Metal Industry
Heap Oxidation Technology The Power to Transform the Precious Metal Industry Nature has been transforming refractory sulphide-hosted precious metals deposits into easily extractable oxide deposits for 100s of millions of years ▪ Chesapeake’s proprietary technology1 applies nature’s process but reduc
Slide 9: Encouraging Results from Phase II Metallurgical Testwork
Heap Oxidation Technology 1 Encouraging Results from Phase II Metallurgical Testwork Metallurgical test work achieved gold recovery rates exceeding 70%, providing verification that our proprietary heap oxidation technology is working as planned ▪ Various durations of oxidation were performed, and lo
Slide 10: Phase III Metallurgical Improvements
Heap Oxidation Technology 1 Phase III Metallurgical Improvements ▪ Reducing oxidation times and increasing gold and silver recoveries equates to: • Reducing operating costs and working capital requirements • Bringing potential metal sales forward *Significant Silver Recovery Improvements 1. Propriet
Slide 11: Phase III Metallurgical Improvements and Third-Party Updates
Heap Oxidation Technology 1 Phase III Metallurgical Improvements and Third-Party Updates ▪ Comparative crushing tests were *Significant performed during Phase III testwork Silver Recovery Improvements • Direct cyanidation of the HPGR-crushed material showed marked improvement over conventional crush
Slide 12: Metates 2021 PEA Site Layout
Heap Oxidation Technology Metates 2021 PEA Site Layout Infrastructure: ▪ Compact Layout ▪ All Infrastructure onsite ▪ Location identified for Ph 2 oxidation pad Heap ▪ Final Pad Sized for 100% of Leach Pad Metates Phase 1 Project Heap Oxidation Pad Source: “Metates Sulphide Heap Leach Project, Phase
Slide 13: Reducing Water Consumption, Energy Use and GHG Emissions
Heap Oxidation Technology Reducing Water Consumption, Energy Use and GHG Emissions Water Consumption (m3) / Au Oz Produced1 ▪ Chesapeake’s technology is applied in a heap leach environment, where the 45 40 48 -93% chemical reactions perform a majority 35 30 of the work to oxidize and then liberate 2
Slide 14: Phase III Metates and 3rd Party Testwork Well Underway
Heap Oxidation Technology 1 Phase III Metates and 3rd Party Testwork Well Underway ▪ Metates large-diameter and variability columns are on schedule, with early encouraging results ▪ HPGR test columns are showing more promising silver kinetics over the columns completed in 2024 ▪ 3 third-party projec
Slide 15: Lucy Project – An Expanding High-Grade Near-Surface Gold Bearing Skarn
Lucy Project – New Gold Discovery 1 An Expanding High-Grade Near-Surface Gold Bearing Skarn ▪ Lucy project in Sinaloa, Mexico is located within 5km of a paved highway and near high voltage powerlines ▪ The recent 2,649m drilling has delineated a northeast trending gold-bearing skarn of at least 700m
Slide 16: Up to 97% Gold Recoveries Achieved in Preliminary Met. Work
Lucy Project – New Gold Discovery 1 Up to 97% Gold Recoveries Achieved in Preliminary Met. Work ▪ The initial metallurgical test work consisted of 4 holes selected across the Lucy mineralized corridor; each hole was then sampled as a unique composite ▪ The results of this initial test work support t
Slide 17: Project Footprint Continues to Expand with New Corridor Discovery
Lucy Project – New Gold Discovery 1 Project Footprint Continues to Expand with New Corridor Discovery ▪ A new mineralized corridor was identified in the Central Zone, located ~600m west of the Discovery Zone ▪ Trenching and rock channel sampling have outlined a potential new 200m long corridor that
Slide 18: Significantly Undervalued: Enterprise Value / Au-Ag Equivalent oz
Chesapeake Gold Significantly Undervalued Enterprise Value / Au-Ag Equivalent oz (US$) $291 ✓ Team That Delivers ✓ Innovative Technology ✓ Massive & Scalable $143 Strong re-rating potential $63 $60 Peer Group Average: $75/oz $35 $28 $21 $19 $19 $7 Perpetua Novagold Hycroft Mining Integra First Minin
Slide 19: Superior Leverage To Precious Metal Prices
Chesapeake Gold Superior Leverage To Precious Metal Prices AuEq. Ounces per Common Share Outstanding 0.40 0.37 Metates Ranks #1 amongst peers on a gold-silver equivalent ounce per share outstanding basis, providing superior leverage to a high gold & silver price environment 0.07 0.07 0.07 Peer Group
Slide 20: Summary and Upcoming Catalysts
Chesapeake Gold Summary and Upcoming Catalysts ▪ Metates – Durango, Mexico ▪ Heap Oxidation Technology One of the world’s largest undeveloped gold- Faster solution identified in 2023 and >70% gold silver deposits1 recoveries achieved in 20244 High-grade core confirmed in 2022 Unlocks global refracto
Slide 21: Appendix
Appendix Mexico’s Largest Undeveloped Gold and Silver Deposit1 1. Mexico’s biggest undeveloped gold deposits Published: Bnamericas -Tuesday, November 24, 2020 CKG: TSX.V | CHPGF: OTCQX 21
Slide 22: Metates: Waking A Sleeping Giant
Metates Waking A Sleeping Giant ▪ One of the world’s largest undeveloped gold- silver deposits1,2,3 Intrusive / Sedimentary • Well-defined resource Breccia • 921.2Mt in the Measured and Indicated Mineral Resource category with 16.8Moz gold (0.57 g/t) and 423Moz silver (14.3 g/t) Massive • A further
Slide 23: Metates: Targeting Higher Grade
Metates Targeting Higher Grade ▪ 2021/22 drilling confirms higher grade intrusive1 • Assay grade and intercepts better than expected, >18% improvement in grade 1. The gold equivalent (“AuEq” or “Gold Eq”) value is calculated as follows: Gold Equivalent (g/t) = Gold (g/t) + Silver (g/t) / 75. CKG: TS
Slide 24: Metates 2023 Updated Resource Estimate
Metates 1 2023 Updated Resource Estimate ▪ Incorporates all 2021 and 2022 drilling results ▪ 15.8% increase in gold grade of Intrusive and Intrusive Breccia zone Gold Eq.2 Gold Silver Gold Silver Resource Category Mtonnes (g/t) (g/t) (g/t) (Moz) (Moz) Measured Mineral Resource 31.1 1.10 0.86 18.1 0.
Slide 25: Metates 2021 PEA Simple Flowsheet
Metates 2021 PEA Simple Flowsheet Source: “Metates Sulphide Heap Leach Project, Phase 1, Amended NI 43-101 Technical Report, Preliminary Economic Assessment” with an effective date of December 15, 2022, and dated January 13, 2023. . CKG: TSX.V | CHPGF: OTCQX PAGE 25
Slide 26: Metates 2021 PEA Capital Cost Improvements
Metates 2021 PEA Capital Cost Improvements Summary of Capital Costs (US$000’s) ▪ Dramatically Lower Capital Cost: Metates Site: Mining Equipment & Mine Development $18,713 • A ~90% reduction in capex when Crushing & Conveying $36,104 compared to the 2016 PFS Ponds & Pads $28,404 Reagent/Regeneration
Slide 27: Metates 2021 PEA Summary Operating Cost
Metates 2021 PEA Summary Operating Cost LOM Average Cost LOM US$/Au Oz. US$/t processed Metates Site Mining (including rehandle and equipment lease costs) $7.51 $441.70 Processing (Crushing, Stacking, Oxidation, Leach, Merrill-Crowe) $8.05 $473.65 Site Support $1.41 $82.69 Profit Sharing $1.32 $77.7
Slide 28: Metates 2021 PEA Phase Production Profile
Metates 2021 PEA Phase 1 Production Profile Gold-Silver Equivalent Production Profile 180 Au-Ag Eq. Production (k oz) 160 140 120 100 80 60 40 20 - Payable Au Ozs Payable Ag Ozs Gold-Silver Grade Profile 1.40 70.00 1.20 60.00 Au Grade (g/t) Ag Grade (g/t) 1.00 50.00 0.80 40.00 0.60 30.00 0.40 20.00
Slide 29: Metates 2021 PEA Phase Sensitivities
Metates 2021 PEA Phase 1 Sensitivities ▪ Compelling project economics & significant leverage to gold and silver prices Table 1: US$mm Pre-Tax NPV(5%) Sensitivity Analysis: Au & Ag Prices Gold Price (US$/oz) 1,400 1,600 1,800 2,000 2,200 20 $804 $1,076 $1,348 $1,620 $1,892 Silver Price 22 $870 $1,142
Slide 30: Insights from the Metates Mineralogical Investigation
Heap Oxidation Technology 1 Insights from the Metates Mineralogical Investigation 2 1. Chesapeake announces metallurgical testwork update news release dated September 6, 2023. 2. Marcasite. (2023, September 1). Encyclopædia Britannica. https://www.britannica.com/science/marcasite#/media/1/364089/119
Slide 31: Tatatila Project Divestment
Tatatila Project Divestment 1 Unearthing Value while Streamlining our Asset Portfolio ▪ The strategic sale of Tatatila further focuses the Company’s attention on the development of Metates, the technology and Lucy, while retaining future upside in the property 1. Chesapeake Gold announces sale of Ta
Slide 32: Management & Board
Chesapeake Gold Management & Board Management Directors Jean-Paul Tsotsos P. Randy Reifel Chief Executive Officer, 20 years of Former Francisco Gold CEO, Glamis and Goldcorp Director experience Randy Buffington P. Randy Reifel Former Nevada Copper and Hycroft CEO, Coeur d’Alene, Barrick Gold Executi
Slide 33: For More Information Contact
For More Information Contact: Head Office: Mexico Office: USA Project Office: Suite 201 – 1512 Yew Street Cerro Blanco #410, Lomas De Sahuatoba 1194 Silverheels Drive Vancouver BC V6K 3E4 Durango, Mexico, CP 34108 Larkspur, Colorado, USA 80118 Phone: +1 778 731 1362 Phone: 52-618-130-2326 Phone: 720