Chesapeake Gold Extends Community Exploration Agreement at Metates
Chesapeake Gold Extends Community
Exploration Agreement at Metates
Vancouver, British Columbia--(Newsfile Corp. - October 27, 2025) - Chesapeake Gold Corp. (TSXV:
CKG) (OTCQX: CHPGF) ("
Chesapeake
" or the "
Company
") is pleased to announce the second
extension of its exploration agreement for the Metates property, with the local Community of San Juan de
Camarones ("
Community
"), located in the Municipality of Santiago Papasquiaro, Durango, Mexico.
The extension adds an additional five years to the original agreement signed in May 2018, now until
October 2030.
Jean-Paul Tsotsos, Interim Chief Executive Officer, stated, "For over 19 years, we have been committed
to maintaining an excellent working relationship with the Community and other stakeholders.
The
Community's support and collaboration have been integral in providing a development plan for Metates
and responsible social benefits for the region.
This extension agreement marks another important
milestone as we work towards a prefeasibility study ("
PFS
") in 2026 and the further development of
Metates."
As a brief Metates update, the proprietary sulphide leach testwork remains on schedule and is
progressing well alongside environmental and related baseline studies in support of the upcoming PFS.
For Further Information:
For more information on Chesapeake's Metates and Lucy Projects and the proprietary sulphide leach
technology, please visit our website at
www.chesapeakegold.com
or contact Jean-Paul Tsotsos at
or +1 778 731 1362.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About Chesapeake
Chesapeake Gold Corp's flagship asset is the Metates Project ("
Metates
") located in Durango State,
Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas
1
with over
16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t
within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13
million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes
in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach
Project Phase I" dated January 13, 2023, and news release dated February 22, 2023.
Forward-looking statements
This news release contains "forward-looking information" which may include, but is not limited to,
statements with respect to anticipated timing and completion of a PFS and performance updates
regarding its sulphide leach technology. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and are based on various
assumptions.
Forward-looking information in this new release is based on certain key expectations and assumptions
made by the Company. Although the Company believes that the expectations and assumptions on which
such forward-looking information is based are reasonable, undue reliance should not be placed on the
forward-looking information as the Company can give no assurance that they will prove to be correct.
Such assumptions include the anticipated timing of the Company's work program and related studies on
Metates, the availability of funds and general economic and market conditions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking
statements. Such factors include, among others, the Company's ability to undertake and complete a
PFS; general business, economic, competitive, political and social uncertainties; the actual results of
exploration activities; the results from the continued development of the sulphide leach technology;
accidents, labour disputes and other risks of the mining industry; and political instability.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date of this news release and the
Company disclaims any obligation to update any forward-looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can
be no assurance that forward-looking statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements.
1
Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/271990