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 inferred resources of 2.1Moz gold and 59Moz silver at Metates.

• Metates project re-envisioned as a low-capex, sulphide heap leach operation, reducing initial capital by 90% to $359M and extending mine life to 31 years.

• Proprietary oxidative leach technology enables gold recoveries exceeding 70%, with significant environmental benefits including reduced water, energy, and GHG emissions.

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

• Well-funded with C$12M in treasury and strong shareholder support, trading at a significant discount to peers on an EV/oz basis.

Project economics and operational highlights

• Metates 2021 PEA projects average annual production of 147Koz AuEq over 31 years, with LOM cash costs of $686/oz and AISC of $749/oz.

• Pre-tax NPV (5%) is $1.14B with a 35% IRR at $1,600/oz gold and $22/oz silver, and a 2.5-year payback.

• Heap leach approach offers flexibility, scalability, and a compact site layout, with all infrastructure onsite and local water sources.

• Sensitivity analysis shows strong leverage to rising gold and silver prices, with NPV and IRR increasing significantly at higher metal prices.

• Lucy Project metallurgical tests show up to 97% gold recovery using standard CN tank leach, supporting rapid and efficient extraction.

Technology and innovation

• Oxidative leach technology accelerates sulphide oxidation, achieving 15-16% oxidation in 60 days—three times faster than previous results.

• Technology is protected by patents and has been successfully tested on multiple sites, targeting the $1.7T global refractory gold market.

• Enables production of "Green Gold" by reducing environmental footprint and eliminating tailings facilities.

• Trade-off studies confirm that Metates mineralization is amenable to heap leach, with positive non-linear relationship between oxidation and precious metal recoveries.