December 10, 2020 – Mexico Mining Center

Chesapeake Gold Announces Acquisition of Alderley Gold Corp. Creating a Platform for Future Growth and Mining Innovation; Alan Pangbourne to Be Appointed Chief Executive Officer

December 10, 2020

Chesapeake Gold Corp. is pleased to announce that it has entered into a definitive agreement on December 9, 2020 to acquire Alderley Gold Corp., a private British Columbia mining technology company. With the acquisition of Alderley, Chesapeake gains access to a proven and innovative precious metals processing technology together with certain asset rights and proprietary databases, creating the path towards a new growth oriented and innovative gold and silver producer. Chesapeake will now focus on progressing the Metates project towards production using the Technology in a heap leach operation.

Southern Silver Continues to Identify High-grade Mineralization in the South Skarn Target at Cerro Las Minitas with a 10.4 metre intercept averaging 172g/t Ag, 3.8% Pb and 3.7% Zn (520g/t AgEq; 10.7% ZnEq)

December 10, 2020

Rob Macdonald, Vice President Exploration stated: “We began this drill campaign targeting an approximate 30% increase in the Mineral Resources for the Cerro las Minitas project which currently totals 134 million Silver Equivalent ounces in the Indicated category and 138 million Silver Equivalent ounces in the Inferred category through the addition of new mineralization in the South Skarn and Mina La Bocona areas which are not included in the current Mineral Resource Estimate of the property.

Sierra Metals Announces Positive Preliminary Economic Assessment Results for a Doubling of Output at Its Cusi Mine in Mexico to 2,400 Tonnes Per Day, Including an After-Tax NPV of US$81 Million

December 10, 2020

Luis Marchese, CEO of Sierra Metals commented: “I am very encouraged by the results of this PEA which support the Company’s organic growth strategy and plan to profitably develop and expand the Cusi Mine production rate to 2,400 TPD from today’s capacity of 1,200 TPD, based on current analyst consensus silver metal price estimates of US$20 per oz long-term.”

Day: December 10, 2020

Chesapeake Gold Announces Acquisition of Alderley Gold Corp. Creating a Platform for Future Growth and Mining Innovation; Alan Pangbourne to Be Appointed Chief Executive Officer

Southern Silver Continues to Identify High-grade Mineralization in the South Skarn Target at Cerro Las Minitas with a 10.4 metre intercept averaging 172g/t Ag, 3.8% Pb and 3.7% Zn (520g/t AgEq; 10.7% ZnEq)

Sierra Metals Announces Positive Preliminary Economic Assessment Results for a Doubling of Output at Its Cusi Mine in Mexico to 2,400 Tonnes Per Day, Including an After-Tax NPV of US$81 Million

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