Chesapeake Gold Corp. Q2 2026 Financial Statements

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# Chesapeake Gold Corp. Q2 2026 Financial Statements

Source: https://chesapeakegold.com/wp-content/uploads/2026/09/Q2-2026-Chesapeake-FS-final-1.pdf
Published: 2026-08-25T00:00:00+00:00
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# Chesapeake Gold Corp. Q2 2026 Financial Statements
Source: https://chesapeakegold.com/wp-content/uploads/2026/09/Q2-2026-Chesapeake-FS-final-1.pdf
Published: 2026-08-25
Chesapeake Gold Corp.
Condensed Consolidated Interim Financial Statements
For the Three and Six Months Ended June 30, 2026 and 2025
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
Chesapeake Gold Corp.
Condensed Consolidated Interim Statements of Financial Position
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
As at
Note
30-Jun-26 31-Dec-25
Assets
Current assets
Cash and cash equivalents 24,482 10,651
Other receivables - VAT 4 961 1,101
Other receivables and prepaid expenses 4 501 550
Marketable securities 5(a) 606 406
Total current assets 26,550 12,708
Long-term investments 5(b) 668 979
Exploration and evaluation assets 6 160,471 153,691
Equipment 29 34
Reclamation deposits 443 429
Total assets 188,161 167,841
Liabilities
Current liabilities
Accounts payable and accrued liabilities 2,005 1,918
Total current liabilities 2,005 1,918
Deferred income tax liabilities 10,722 10,722
Decommissioning obligation 435 421
Total liabilities 13,162 13,061
Shareholders
equity
Share capital 7 260,013 241,919
Reserves 8 36,429 32,029
Deficit (125,956) (123,506)
Shareholders
equity
attributable to the shareholders 170,486 150,442
Non-controlling interest 1 4,513 4,338
Total shareholders
equity 174,999 154,780
Total liabilities and shareholders
equity 188,161 167,841
Subsequent events (Note 13)
Approved by the Board of Directors
P.Randy Reifel
Director
Jeff Stieber
Director
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
1
Chesapeake Gold Corp.
Condensed Consolidated Interim Statements of Loss and Comprehensive Income (Loss)
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
Three Months Ended Six Months Ended
Note
30-Jun-26 30-Jun-25 30-Jun-26 30-Jun-25
General and administrative expenses
Depreciation (4) (3) (7) (6)
Exploration 6c 551 (35) - (60)
General and administrative (720) (593) (1,534) (1,027)
Management fees (63) (63) (125) (125)
Professional fees (370) (288) (555) (417)
Stock-based compensation 8 (473) (77) (559) (156)
Total general and administrative expenses (1,079) (1,059) (2,780) (1,791)
Other income (expense)
Finance income 150 52 197 114
Foreign exchange gain (loss) 90 (7) 400 (32)
Unrealized gain (loss) on marketable securities and long-term investments 5 263 (93) (106) 22
Other income (expense) - 193 - 193
Total other income (expense) 503 145 491 297
Net loss (576) (914) (2,289) (1,494)
Other comprehensive income
Items that may be reclassified subsequently to net loss:
Cumulative translation adjustment 952 671 3,292 1,328
Total comprehensive income (loss) 376 (243) 1,003 (166)
Net gain (loss) attributable to
Controlling equity holders of the Company (816) (889) (2,450) (1,462)
Non-controlling interest 1, 6c 240 (25) 161 (32)
Total net loss (576) (914) (2,289) (1,494)
Total comprehensive income (loss) attributable to
Controlling equity holders of the Company 136 (218) 842 (134)
1
Non-controlling interest 240 (25) 161 (32)
Total comprehensive income (loss) 376 (243) 1,003 (166)
Loss per common share
Basic and diluted (0.01) (0.01) (0.03) (0.02)
Weighted average shares outstanding (000
Basic and diluted 76,886 68,743 76,171 69,085
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
2
Chesapeake Gold Corp.
Condensed Consolidated Interim Statements of Changes in Shareholders
Equity for the Six Months Ended
June 30, 2026 and 2025
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
Share FX Total for Non-
Notes Shares SBC reserve Deficit Total
capital reserve owners controlling
Balance at January 1, 2026 72,094 241,919 29,042 2,987 (123,506) 150,442 4,338 154,780
Net loss for the period - - - (2,450) (2,450) 161 (2,289)
Cumulative translation adjustment - - 3,292 - 3,292 - 3,292
Units issued for cash (net of expenses) 7 4,792 18,657 - - - 18,657 - 18,657
Broker warrants issued (share issuance
7 (563) 563 - - - - -
costs)
Stock-based compensation charges - 545 - - 545 14 559
Balance at June 30, 2026 76,886 260,013 30,150 6,279 (125,956) 170,486 4,513 174,999
Balance at January 1, 2025 68,394 237,503 28,655 299 (120,287) 146,170 2,359 148,529
Net loss for the period - - - (1,462) (1,462) (32) (1,494)
Cumulative translation adjustment - - 1,328 - 1,328 - 1,328
Units issued for cash 3,700 4,440 - - - 4,440 4,440
Stock-based compensation charges - 141 - - 141 15 156
Balance at June 30, 2025 72,094 241,943 28,796 1,627 (121,749) 150,617 2,342 152,959
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
3
Chesapeake Gold Corp.
Condensed Consolidated Interim Statements of Cash Flows
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
Six Months Ended
Note
30-Jun-26 30-Jun-25
Cash flows used in operating activities
Net loss for the period (2,289) (1,494)
Items not affecting cash
Depreciation 7 6
Unrealized foreign exchange gain - (7)
Unrealized loss (gain) on marketable securities and long-term investments 5 106 (22)
Share-based compensation expense 8 559 156
Other receivables and prepaid expenses 244 (40)
Accounts payable and accrued liabilities (42) (433)
Total cash flows used in operating activities (1,415) (1,834)
Cash flows from financing activities
Net proceeds from issue of units 7 18,657 4,440
Total cash flows from financing activities 18,657 4,440
Cash flows used in investing activities
Proceeds from sale of marketable securities 5 19
Reclamation bonds - (56)
Exploration and evaluation expenditures 6 (3,428) (1,422)
Total cash flows used in investing activities (3,423) (1,459)
Foreign exchange impact on cash and cash equivalents 12 5
Increase (decrease) in cash and cash equivalents 13,831 1,152
Cash and cash equivalents - beginning of period 10,651 10,989
Cash and cash equivalents - end of period 24,482 12,141
See Note 6, 7 and 8 for a summary of non-cash transactions.
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4
Chesapeake Gold Corp.
Notes to the Condensed Consolidated Interim Financial Statements
For the three and six months ended June 30, 2026 and 2025
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
1. Nature of operations
Chesapeake Gold Corp. (
Chesapeake
or the
Company
) is a Canadian exploration and evaluation stage mining
company focused on the exploration and development of precious metal deposits in North and Central America. The
Company has exploration and evaluation assets and does not generate mining revenues from operations. The Company
operations are principally directed towards the development of the Metates project in the state of Durango, Mexico and
generating a pipeline of regional exploration projects in the region.
The Company is domiciled in Vancouver, Canada and its common shares are listed on the TSX Venture Exchange under
the trading symbol
. The Company also trades on the OTCQX marketplace in the United States, under the
symbol
. The Company
s head office is located at 201
1512 Yew Street, Vancouver BC, Canada.
As at June 30, 2026, the Company owns 57% (December 31, 2025
57%) of Gunpoint Exploration Ltd. (
Gunpoint
a Vancouver based company listed on the TSX Venture Exchange, symbol
. Gunpoint owns 100% of the
Talapoosa gold project, located in Nevada, United States.
During the six months ended June 30, 2026, the Company incorporated Chesapeake Royalties Corp., a wholly owned
subsidiary incorporated under the laws of British Columbia, Canada. The subsidiary was established for future corporate
purposes and had not commenced operations as at June 30, 2026.
The Company had a consolidated net loss of $2,289 (2025
net loss of $1,494) for the six months ended June 30, 2026,
and an accumulated deficit of $125,956 as at June 30, 2026 (December 31, 2025 - $123,506). The Company
s working
capital (current assets less current liabilities) as at June 30, 2026 is $24,545 (December 31, 2025 - $10,790) which
included cash of $24,482 (December 31, 2025 - $10,651). Management believes that it has sufficient funds, following
the two financings for gross proceeds of $20,127 closed in January 2026, to maintain the status of its properties in good
standing, to pay its ongoing general and administrative expenses and to meet its other liabilities, obligations and existing
commitments beyond the ensuing twelve months as they fall due. The Company has the ability to scale its exploration
activities and capital expenditures, and will do so as necessary, based on cash availability. The Company will need to
raise further financing to fund its future operations and its development expenditures.
2. Basis of presentation
These unaudited condensed consolidated interim financial statements have been prepared in accordance with IFRS
Accounting Standards as issued by the International Accounting Standards Board applicable to the preparation of interim
financial statements, under International Accounting Standard ("IAS") 34 - Interim Financial Reporting and have been
condensed with certain disclosures from the Company's audited consolidated financial statements for the year ended
December 31, 2025 (the "2025 Annual Financial Statements") omitted. These unaudited condensed consolidated interim
financial statements should be read in conjunction with the Company
s audited consolidated financial statements for the
year ended December 31, 2025.
The Company
s management makes judgments in its process of applying the Company
s accounting policies in the
preparation of its unaudited condensed consolidated interim financial statements. In addition, the preparation of the
financial data requires that the Company
s management make assumptions and estimates of the effects of uncertain future
events on the carrying amounts of the Company
s assets and liabilities at the end of the reporting period and the reported
amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the
estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience
and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting
effects on the carrying amounts of the Company
s assets and liabilities are accounted for prospectively. The critical
judgments and estimates applied in the preparation of the Company
s unaudited condensed consolidated interim financial
statements are consistent with those applied and disclosed in the Company
s consolidated financial statements for the
year ended December 31, 2025. In addition, the accounting policies applied in these unaudited condensed consolidated
interim financial statements are consistent with those applied and disclosed in the Company
s audited financial statements
for the year ended December 31, 2025.
The Company
s interim results are not necessarily indicative of its results for a full year.
5
Chesapeake Gold Corp.
Notes to the Condensed Consolidated Interim Financial Statements
For the three and six months ended June 30, 2026 and 2025
(Unaudited - amounts expressed in thousands of Canadian dollars, except where indicated)
These unaudited condensed consolidated interim financial statements were approved and authorized for issue by the
Board of Directors on August 25, 2026.
These unaud

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