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,July28,2020 --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,dated28 July2020 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 ~300km2of highly prospective ground in this underexplored world-class gold region.