Chesapeake Acquires Metates Royalty from Wheaton Precious Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Chesapeake Gold Corp. ("Chesapeake") wishes to announce that it has exercised an option to re-purchase a one percent (1.0%) net smelter returns royalty ("NSR") on its 100% owned Metates gold-silver-zinc project located in Durango State, Mexico. The NSR was purchased from Wheaton Precious Metals (Cayman) Co. ("Wheaton"), a subsidiary of Wheaton Precious Metals Corp. for US$9.0 million.
P. Randy Reifel, President, commented, "Metates hosts one of the largest undeveloped gold and silver deposits in the world. Metates is located in a miner-friendly jurisdiction relatively close to key existing infrastructure. We believe gold and silver are in the early stage of a major bull market. The NSR investment will provide leverage and optionality during a rising metals cycle."
For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.
CHESAPEAKE GOLD CORP
"P. Randy Reifel"
P. Randy Reifel
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