Chesapeake Gold Corp. (TSX VENTURE:CKG) ("Chesapeake") reports that, further to
its news release issued December 9, 2010, certain insiders of Chesapeake have
arranged a sale of 682,927 common shares of Chesapeake at a price of $10.25 per
share executed on the Pure trading facilities of CNSX Markets Inc on December
14, 2010. The proceeds from this sale will be used to fund the subscriptions by
these insiders of 682,927 common shares of Chesapeake at $10.25 per share under
Chesapeake's previously announced private placement.


CHESAPEAKE GOLD CORP.

P. Randy Reifel, President
Chesapeake Gold (TSXV:CKG)
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