(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (" Chesapeake " or the " Company ") announces that it has adopted a "fixed up to 10%" stock option plan (the " Fixed Plan ") to replace its prior "rolling up to 10%" stock option plan (the " Prior Plan "). All outstanding options granted under the Prior Plan will continue to remain issued and governed under the terms of the Fixed Plan. Under the terms of the Fixed Plan, the Company may issue up to 7,209,338 common shares of the Company pursuant to the exercise of outstanding options granted to eligible persons under the Fixed Plan (including options granted under the Prior Plan). The Fixed Plan remains subject to final TSX Venture Exchange approval.

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