Chaparral Gold : Final Extension of Hostile Bid by Waterton

Scottsdale, Arizona, July 3, 2014 - Chaparral Gold Corp. ("Chaparral", TSX: "CHL") announces that Waterton Precious Metals Fund II Cayman, LP ("Waterton") has again extended its hostile offer (the "Hostile Bid") to acquire all of the outstanding common shares of Chaparral from July 2, 2014 to 5:00 p.m. (Toronto time) on July 17, 2014. The offer price of C$0.50 per share and all other conditions under the Hostile Bid remain unchanged. As stated in Waterton's Notice of Extension of July 2, 2014 only 1,345,028 shares have been deposited to their bid, representing approximately 1.1% of the outstanding shares of Chaparral. Waterton also stated that they do not intend to extend the Hostile Bid beyond July 17, 2014.

There is no change in the Board of Directors of Chaparral recommendation that shareholders REJECT the Hostile Bid and DO NOT tender their shares.

About Chaparral Gold

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

For additional information, contact:

Or email the Company at:  info@chaparralgold.com                                         Web Site:  www.chaparralgold.com

Cautionary Statements:

Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements, including statements relating to the Eureka smelter site issue and in respect of its Goldfield property. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to a potential resolution of the Eureka smelter site issue and permitting activities at Goldfield.  Except as required pursuant to applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.