Chesapeake Gold Announces Filing of Prospectus Supplement in Connection with Previously Announced $15 Million Bought Deal Public Offering

About this update from Chesapeake Gold Corp.

Chesapeake Gold Announces Filing of Prospectus Supplement in Connection with Previously Announced $15 Million Bought Deal Public OfferingProspectus Supplement and Base Shelf Prospectus Accessible on SEDAR+Vancouver, British Columbia--(Newsfile Corp. - January 14, 2026) - Chesapeake Gold Corp. (TSXV: CKG) ("Chesapeake" or the "Company") is pleased to announce that it has filed a prospectus supplement (the "Prospectus Supplement") dated January 14, 2026, to its short form base shelf prospectus (the "Base Shelf Prospectus") dated February 23, 2024, with the securities regulatory authorities in each of the provinces and territories of Canada, other than Québec, to qualify the public distribution of 3,751,500 units of the Company (the "Units") at an offering price (the "Offering Price") of $4.20 per Unit for gross proceeds of $15,000,300 in connection with the Company's previously announced "bought deal" public Offering (the "Offering") (see news releases dated January 12, 2026). Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $5.65 at any time on or before that date which is 36 months following the Closing Date (as defined herein).The Offering is being made pursuant to an underwriting agreement (the "Underwriting Agreement") dated January 14, 2026 among the Company and Red Cloud Securities Inc. ("Red Cloud") as lead underwriter and joint bookrunner, and Cantor Fitzgerald Canada Corporation, joint bookrunner (together with Red Cloud, the "Underwriters"). Pursuant to the Underwriting Agreement, the Company has granted to the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part, at any time for a period of up to 30 days after and including the Closing Date, to purchase for resale at the Offering Price up to an additional 535,725 Units of the Company (the "Over-Allotment Units") at the Offering Price to cover over-allotments, if any, and for market stabilization purposes. The Prospectus Supplement to the Base Shelf Prospectus qualifies the grant of the Over-Allotment Option and the issuance of the Over-Allotment Units pursuant thereto.The Company has agreed to pay the Underwriters a cash fee equal to 6% of the gross proce...

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