Chesapeake Announces Grant of Stock Options

NEWS RELEASE

September 27, 2017 Symbol: TSX.V-CKG

NR3-2017

Chesapeake Announces Grant of Stock Options

Chesapeake Gold Corp. ("Chesapeake" or the “Company”) announces that pursuant to its Stock

Option Plan, the Board of Directors has granted 790,000 options (“Options”) to directors, officers,

employees and consultants of the Company, at an exercise price of $ 3.75 per share. The Options

are exercisable for a term of five years from the date of the grant. The Options will vest and be

exercisable on the basis of 25% annually commencing September 27, 2018, the first anniversary

of the date of the option grant.

For more information on Chesapeake and its Metates Project, please visit our website at

www.chesapeakegold.com or contact investor relations at 604-731-1094.

CHESAPEAKE GOLD CORP.

“P. Randy Reifel”

P. Randy Reifel

President

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.