Waterton's Offer for Chaparral Expires

TORONTO, Aug. 1, 2014 /CNW/ - Waterton Precious Metals Fund II Cayman, LP ("Waterton") announced today that the cash offer (the "Offer") by Waterton Precious Metals Bid Corp. (the "Offeror") to acquire all of the outstanding common shares (the "Shares") of Chaparral Gold Corp. not already held by it and its affiliates has expired.

The Offeror has taken-up all of the Shares deposited under the Offer, being 19,811,204 Shares, representing approximately 16.83% of the issued and outstanding Shares. The consideration for the Shares deposited under the Offer was $0.55.

Waterton now has beneficial ownership of and exercises control or direction over, 23,214,704 Shares, representing approximately 19.72% of the issued and outstanding Shares.

In connection with this news release an early warning report will be filed by Waterton in accordance with applicable securities laws. A copy of the early warning report will be available for review at www.sedar.com.

About Waterton

Waterton is a leading mining-focused private equity fund dedicated to developing high quality precious 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 precious metals sector.

SOURCE Waterton Precious Metals Fund II Cayman, LP

For further information:

or to obtain a copy of the early warning report filed under applicable securities laws, please contact:

Richard J. Wells
Waterton Precious Metals Bid Corp.
Suite 1700, Park Place
666 Burrard Street
Vancouver, British Columbia
V6C 2X8
Telephone: 416.504.3500

Media Inquiries:

Riyaz Lalani
Bayfield Strategy, Inc.
416-907-9365
rlalani@bayfieldstrategy.com
www.bayfieldstrategy.com