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Chaparral Gold Corp. ("Chaparral") (TSX:CHL) and Waterton Global Resource Management, Inc. ("Waterton") are pleased to announce that Waterton Precious Metals Bid Corp., a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, has completed the previously announced acquisition of all of the issued and outstanding common shares of Chaparral for consideration of C$0.61 in cash per Chaparral share pursuant to a plan of arrangement under the Business Corporations Act (British Columbia).

The Chaparral shares are expected to be delisted from the Toronto Stock Exchange, and Chaparral intends to submit applications and notices to cease to be a reporting issuer and to otherwise terminate its public reporting requirements as soon as possible.

About Chaparral

Chaparral is a Nevada-focused precious metals company actively permitting the 100%-owned Gemfield deposit at the Goldfield property in central Nevada. In addition to the Goldfield property, Chaparral holds a 100% interest in the Converse property, also located in Nevada.

About Waterton

Waterton is a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects located in stable jurisdictions. Waterton's cross-functional, fully-integrated, in-house team of professionals have significant mining, financial and legal expertise. Waterton's proactive approach to asset management, significant sector knowledge and ability to leverage extensive industry relationships has resulted in a strong track record of managing investments in the metals sector.

Cautionary Statements:

This document includes certain statements that constitute "forward‐looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward‐looking statements"). Such statements are typically identified by words such as "believe," "anticipate," "estimate," "project," "intend," "expect," "may," "will," "plan," "should," "would," "contemplate," "possible," "attempts," "seeks" and similar expressions. Forward‐looking statements may relate to Chaparral's or Waterton's future outlook and anticipated events or results.

By their very nature, forward‐looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward‐looking statements will not prove to be accurate. Do not unduly rely on forward‐looking statements, as a number of important factors, many of which are beyond Chaparral's or Waterton's control, could cause actual results to differ materially from the estimates and intentions expressed in such forward‐looking statements. These factors include, but are not limited to: an unanticipated delay of the delisting of Chaparral's common shares from the Toronto Stock Exchange and the results of Chaparral's applications to securities regulators to cease to be a reporting issuer.

Forward‐looking statements speak only as of the date those statements are made. Except as required by applicable law, none of Chaparral or Waterton assume any obligation to update, or to publicly announce the results of any change to, any forward‐looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward‐looking statements.

CONTACT: Media Inquiries:
         Riyaz Lalani
         Bayfield Strategy, Inc.
         Tel: (416) 907-9365