Chesapeake Gold Corp. provided an update on the extensive metallurgical and processing related test work undertaken on its 100% owned Metates project located in Durango State, Mexico. Metates hosts one of the undeveloped gold-silver deposits in the Americas with a Measured and Indicated mineral resource containing 14.7 million ounces of gold, 396 million ounces of silver and 2.6 billion pounds of zinc. Inferred mineral resources total an additional 1.9 million ounces of gold, 38 million ounces of silver and 200 million pounds of zinc. Highlights from the test work are: Gold and silver recoveries into a bulk rougher sulfide concentrate average greater than 90% can be achieved at a relatively coarse grind size. Gold and silver recoveries average greater than 97% and 85%, respectively, from the concentrates following pressure oxidation using relatively low temperature, pressure and residence time with no re-grinding of the concentrate. Overall gold recoveries in the range of 85% to 90% and silver recoveries in the range of 80% to 85% through both flotation and pressure oxidation are targeted.

Chesapeake Gold Corp., Annual General Meeting, Dec 16, 2009 Location: TBD, , Canada.

Chesapeake Gold Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported operating loss of CAD 759,085 compared to CAD 526,287 a year ago. Profit before tax was CAD 158,797 compared to loss before tax of CAD 331,578 a year ago. Net loss for the period was CAD 158,115 compared to net profit of CAD 331,578 or CAD 0.01 per basic and diluted share a year ago. Comprehensive profit was CAD 948,363 compared to comprehensive loss of CAD 233,910 a year ago. Cash provided by operating activities was CAD 710,062 compared to cash used in operating activities of CAD 209,529 a year ago. Mineral property expenditures were CAD 714,602 compared to CAD 2,046,193 a year ago. For the six months, the company reported operating loss of CAD 1,468,602 compared to CAD 1,087,791 a year ago. Loss before tax was CAD 753,750 compared to CAD 458,285 a year ago. Net loss for the period was CAD 760,453 or CAD 0.02 per basic and diluted share compared to CAD 458,285 or CAD 0.01 per basic and diluted share a year ago. Comprehensive profit was CAD 94,681 compared to comprehensive loss of CAD 187,183 a year ago. Cash provided by operating activities was CAD 223,553 compared to CAD 162,137 a year ago. Mineral property expenditures were CAD 1,707,398 compared to CAD 3,444,962 a year ago. Fixed assets purchased were CAD 6,739.