Drilling Returns Wide High-grade Gold Extensions at Diamba Sud

BRISBANE,Australia,June 17,2020 -- Chesser Resources Limited("Chesser" or "the Company"; ASX: CHZ) is pleased to provide the following drilling results from its flagship Diamba Sud Gold Project in Senegal,West Africa.

HIGHLIGHTS

AREA A

Two high-grade gold structures identified and confirmed over 250m strike length. Significant results include:

Eastern Structure:

- 23m at 3.50 g/t goldfrom 96m,including

6m at 5.44 g/t gold from 96m,and

6m at 5.60 g/t gold from 110m

Western Structure:

- 15m at 3.39 g/t gold from 117m and ending in mineralisation

Additional high-grade intercepts from within the existing Area A footprint include:

- 8m at 2.90 g/t gold from 0m (oxide)

- 12m at 3.86 g/t gold from 14m (oxide),including

4m at 10.67 g/t gold

- 15m at 2.98 g/t gold from 72m,including

4m at 7.35 g/t gold from 80m

- 24m at 3.29 g/t gold from 94m,including

8m at 6.81 g/t gold from 95m

Two drill lines testing the southeast extension of Area A intersected alteration and sulphides in the host structure trending towards Barrick's adjoining Bambadji JV area.

12 holes (for 1,185m) of the 4,000m Phase 4 drill program reported to date with an estimated 2,800m of drilling expected to be completed by the end of June.

"We are delighted to report that the first batch of drilling results have confirmed and extended two high-grade mineralised structures at Area A within our Diamba Sud Gold Project. These new results continue to grow the scale and improve our understanding of the structural controls of this significant gold discovery. We look forward toupdating the market on our progress for the remainder of the program as results become available." commented Mike Brown,Managing Director and CEO of Chesser Resources.

Please refer to the original ASX announcement,dated 17 June 2020 for further information: https://www.asx.com.au/asxpdf/20200617/pdf/44jq4vbczfcm4d.pdf

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 Northern Arc target on its flagship Diamba Sud project. The Company currently holds ~300km2 of highly prospective ground in this underexplored world-class gold region.

For Further information,please contact:

Mike Brown,Managing Director

Mikeb@chesserresources.com.au

Mobile: +1 778 822 4345