Chesapeake Gold (CKG) Corporate presentation summary

Strategic positioning and asset overview

• Holds one of the world's largest undeveloped gold-silver deposits, with measured and indicated resources of 16.8Moz gold and 423Moz silver, plus significant inferred resources, all in Mexico.

• Metates project re-envisioned as a low-capex, sulphide heap leach operation, reducing initial capital by 90% compared to previous plans and extending mine life to 31 years.

• Lucy project in Sinaloa is a new high-grade, near-surface oxide gold discovery, with drilling confirming a 700m mineralized skarn zone open along strike and at depth.

• Well-funded with C$13M in treasury and strong shareholder support, including over 40% insider ownership.

• Trades at a significant discount to peers on an EV/oz basis, offering strong leverage to precious metal prices.

Project economics and financial highlights

• Metates 2021 PEA outlines a 15ktpd starter project with initial capex of US$359M, sustaining capex of US$176M, and a 31-year mine life.

• Average annual gold equivalent production of 147Koz (years 1–15), with LOM cash costs of US$686/oz and AISC of US$749/oz.

• Pre-tax NPV (5%) of C$1.4B and IRR of 35% at US$1,600/oz gold and US$22/oz silver, with a 2.5-year payback.

• Project economics are highly sensitive to gold and silver prices, with significant upside at higher metal prices.

• Heap leach approach and compact site layout reduce infrastructure needs, water, and energy consumption.

Technology and operational innovation

• Proprietary oxidative leach technology enables gold recoveries exceeding 70% from refractory sulphide ores, with recent testwork achieving up to 74%.

• Technology reduces water use by 91%, energy by 73%, and GHG emissions by 81% compared to autoclave processes.

• Metallurgical advances have accelerated oxidation rates, achieving 15–16% oxidation in 60 days, three times faster than previous results.

• Technology is royalty-free, patent-protected, and applicable to a global refractory gold market estimated at US$1.5T.

• Environmental benefits may simplify permitting and enhance project sustainability.