Multiple Spectacular High-grade Gold Hits Returned From Diamba Sud. Intersections Include 48m @ 6.70g/t and 55m @ 4.27 g/t gold.

BRISBANE, Australia, July 28, 2020 /PRNewswire/ -- Chesser Resources Limited ("Chesser" or "the Company"; ASX:CHZ) is pleased to provide an update on drilling results from its flagship Diamba Sud Gold Project in Senegal, West Africa.

HIGHLIGHTS

Area D

• Drilling intersected exceptionally thick, shallow, high-grade oxidised mineralisation across a 200m wide zone in five adjacent holes:
  - 48m at 6.70 g/t gold from 24m, including
        -10m at 25.14 g/t gold from 62m
  - 55m at 4.27 g/t gold from 16m
  - 38m at 4.63 g/t gold from 8m, including
        - 18m at 7.04 g/t gold from 28m, including
        - 4m at 18.30 g/t gold from 30m
  - 36m at 2.93 g/t gold from 6m, including 
        - 10m at 6.13 g/t gold from 16m
  - 34m at 1.91 g/t gold from 16m
• Mineralisation remains open to the southwest, northeast and to the northwest

Western Splay Target

• Drilling confirms and extends strike extent of mineralised structures intersected in previous drilling, including:
  - 2m at 19.80g/t gold from 4m
  - 6m at 1.79 g/t gold from 28m
  - 3m at 1.09 g/t gold from 91m
  - 10m at 1.10 g/t from 111m
• The large main structure at Western Splay and multiple other sub-parallel anomalies remain untested

"Results like this are exceptional and rare. Whilst it is still at an early stage, the consistency, high-grade and thickness from near surface is remarkable. Further, we have achieved significant success at the Western Splay target where mineralisation along strike to a structure that is parallel to the Western Splay has been confirmed. With pending results from 8 holes at Area A, a strong cash balance and the recent appointment of Mark Connelly as Non-Executive Chairman, the Company is well positioned for a transformational year ahead." commented Mike Brown, Managing Director and CEO of Chesser Resources.

Please refer to the original ASX announcement, dated 28 July 2020 for further information: https://www.chesserresources.com.au/investor-dashboard/asx-announcements/

ABOUT CHESSER RESOURCES

Chesser Resources is an ASX listed gold exploration company with projects located in Senegal, West Africa. Chesser has announced a high-grade gold discovery at its flagship Diamba Sud project. The Company currently holds ~300km² of highly prospective ground in this underexplored world-class gold region.