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Chesapeake Announces Director Appointments

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/20/13 -- Chesapeake Gold Corp. ("Chesapeake" or the "Company") (TSX VENTURE: CKG) is pleased to announce the election of Ms. Lian Li as a new director at the Company's Annual General Meeting held Wednesday and the appointment of Mr. Greg D. Smith as a new director by the Board of Directors following the Annual General Meeting.

Ms. Lian Li is an international business consultant bringing over 20 years experience from the investment banking and finance world. She has served with Capital House in London; Primasia Investment Management Ltd and South China Group in Hong Kong prior to her engagement as President of Pacific GeoInfo Corp. in Canada. She has also advised major corporations from the USA, China, Australia and Europe. Ms. Li holds a Master's Degree from Brunel University in London, England and a B.A. from Northeastern University of Finance and Economics in China.

Mr. Greg Smith brings extensive public mining company experience to the Board from an executive financial and business perspective. He is currently the Audit Committee Chair of Lowell Copper Ltd. and past chair of Premier Royalty Inc.'s Audit Committee. He was formerly President and CEO of Esperanza Resources Corp. (recently acquired by Alamos Gold) and VP Finance and CFO of Minefinders Corporation Ltd. (acquired by Pan American Silver in 2012). Mr. Smith is a Chartered Accountant and holds a Bachelor of Commerce (International Business) from the University of Victoria. Mr. Smith will be appointed chairman of the Company's Audit Committee.

P. Randy Reifel, President of Chesapeake, commented, "Ms. Li and Mr. Smith bring a great depth of international experience and dimension related to mergers, acquisitions and corporate finance. They complement and strengthen the Board and I believe both will contribute significantly towards advancing and realizing shareholder value from our world-class Metates gold-silver project in northwestern Mexico."

In addition to these new appointments, two directors, Mr. Chris Falck and Mr. Peter Palmedo have retired from the Board. On behalf of shareholders and the Board, I would like to recognize and thank Mr. Falck and Mr. Palmedo for their valuable contributions, guidance and support to the Company over the past six years.

For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com.

CHESAPEAKE GOLD CORP

P. Randy Reifel, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Chesapeake Gold Corp.
Investor Relations
604-731-1094
www.chesapeakegold.com

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