San Marco and Chesapeake Complete Tecomate Purchase

Vancouver, B.C. – July 14, 2010: San Marco Resources Inc. (SMN: TSX.V) (“the Company”) has completed the purchase of Chesapeake Gold Corp.’s (CKG: TSX.V) (“Chesapeake”) interest in the two concessions known as the Tecomate property located in western Durango State, Mexico. Details of the transaction are disclosed in the Company’s news release dated (December 8, 2009).

The cash portion of the purchase price was reduced from US $75,000 to US $50,000 to reflect certain administration and legal costs incurred by the Company during the closing process. As previously reported Chesapeake will also receive 400,000 common shares of the Company and retain a 1% NSR royalty within a 5 kilometer radius of the concessions purchased.

For further information contact:

Robert D. Willis Mike Mallard Chairman & CEO V.P. Corporate Communications 604-813-2606 604-506-3776 [email protected] [email protected]

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.