Announcement • Jun 23

Contango Silver & Gold Inc. Provides Updates on Lucky Shot, Johnson Tract, and Kitsault Valley Projects

Contango Silver and Gold Inc. provided updates on its 2026 programs across the Contango Silver & Gold portfolio. The Lucky Shot surface drill program commenced on June 22, 2026 with the mobilization of two helicopter-supported drill rigs to site. A total of 29 holes across five drilling platforms—totaling approximately 6,800 meters—are planned. The program is designed to infill areas of known mineralization within the Coleman portion of the resource, while also executing step-out drilling to test the structural continuity between the Coleman and Lucky Shot vein systems. Results will be released as they become available. Permitting for the surface infrastructure—including the access road and barge facility designed to link the Johnson Tract Critical Metals Project site to the coast—remains firmly on schedule, with six actions completed to date. To support these ongoing regulatory processes, the Company has opened the Johnson Tract camp for the summer season to anchor extensive field activities. Field surveys within the project easements will be conducted in accordance with the Programmatic Agreement approved by the appropriate permitting authorities. These environmental and cultural baseline studies include: marine and freshwater quality surveys, eagle, shorebird, and seabird surveys, marine mammal acoustics and fish surveys, wetlands mapping, and cultural resource studies. In addition to the surveys, summer operational activities include geotechnical drilling within the easements for the road access and barge landing facility, as well as the construction of a 2.6-mile road on Cook Inlet Regional Inc. (CIRI) owned land connecting the camp to the proposed exploration portal location. Equipment mobilization via barge and helicopter is underway and will continue through June and July, with on-site construction activities expected to extend into October. The Kitsault Valley drill program is progressing as planned with over 14,000 meters of drilling already completed. Drilling has focused on infill and extensional drilling at Torbrit, North Star, Wolf, and Red Point. The first samples from Torbrit and North Star have been sent to the analytical facility and results are expected to start trickling in during Third Quarter activities. The Kitsault Valley updated Mineral Resource Estimate (MRE) is on track to be released by late July.

Announcement • Jun 16

Contango Silver and Gold Inc. Reports Final Assay Results from Initial Phase of Underground Diamond Drilling Program At Lucky Shot Project

Contango Silver and Gold Inc. announced final assay results from the initial phase of the Company's 2025/2026 underground diamond drilling program at the Lucky Shot Project in Alaska. These results complete the initial underground drilling phase of Contango's planned multi-phase 18,000-meter underground and surface exploration campaign at Lucky Shot. The final assay results include several significant gold intercepts from the Lucky Shot vein system, highlighted by 0.17 meters grading 972.10 grams per tonne gold in drill hole LSU26091, which intercepted the L1d Vein and included visible gold observed during core logging. Select highlights from the final assay results include: LSU26091: 0.17 m grading 972.10 g/t Au from the L1d Vein, with visible gold observed; LSU26078: 5.30 m grading 8.89 g/t Au from the L1c Vein, including 0.60 m grading 35.15 g/t Au, with visible gold observed; LSU26085: 0.30 m grading 38.97 g/t Au from the CK Vein, with visible gold observed; LSU26084: 0.63 m grading 17.75 g/t Au from the CK Vein; LSU26081: 0.21 m grading 15.41 g/t Au from the CK Vein; LSU26092: 0.85 m grading 9.45 g/t Au from an unassigned vein structure, with visible gold observed; LSU26082: 0.71 m grading 8.56 g/t Au from the CK Vein; LSU26079: 0.87 m grading 2.24 g/t Au from the L2 Vein; and LSU26088: 0.82 m grading 4.47 g/t Au from the L1e Vein, with visible gold observed. The 2025/2026 underground diamond drilling program was initiated in November 2025 from existing underground infrastructure along the West Drift. The initial phase of drilling is now complete and consists of 65 HQ diamond drill holes totaling approximately 6,020 meters. This phase was designed to test and refine the Company's understanding of the Lucky Shot vein system, including the historically mined Lucky Shot Vein, also referred to as the L2 Vein, and multiple subparallel vein structures including the L1b, L1c, L1d, L1e, CK and KM veins. The final drill holes reported in this release completed fan drilling from the 587 and 612 drill stations and continued definition drilling across the Lucky Shot vein system eastward toward the Enserch Tunnel. This work has improved the interpreted continuity and geometry of the Lucky Shot L2 Vein and several underlying subparallel vein structures, including the L1c, L1d and CK veins. The updated cross-sectional interpretation also supports a more coherent kinematic model for the vein system, helping to explain the spatial relationship between the historically mined Lucky Shot Vein, newly modeled vein structures, and observed high-grade gold intercepts. Detailed geological logging continued to identify visible gold in multiple intercepts, while updated modeling has refined the Company's understanding of vein architecture, structural controls on mineralization, and follow-up target areas for the next phase of underground drilling. The Company cautions that drill intercept lengths reported in this release are downhole core lengths. True widths are not yet known and may be materially different from reported interval lengths. Visible gold observations are qualitative geological observations made during core logging and do not necessarily correlate with higher gold grades, mineral continuity, metallurgical performance or economic significance. Gold assay results are derived from laboratory analysis and are the only quantitative measure of gold content. Contango's drilling and sampling programs are conducted in accordance with industry best practices and applicable SEC S-K 1300 requirements. All drill cores are systematically logged, photographed and sampled under the supervision of the Company's Qualified Person. Quality assurance and quality control procedures include the regular insertion of certified reference materials, blanks and duplicate samples into the analytical stream. Mineralized intervals are sampled as whole core, with shoulder samples extending beyond mineralized zones where appropriate. Samples are sealed and transported under documented chain-of-custody procedures to the laboratory. Analytical testing was performed by Bureau Veritas North America, with sample preparation conducted in Fairbanks, Alaska. Gold analyses for mineralized intervals were completed using a two-cycle PhotonAssay method by Paragon Geochemical in Vancouver, British Columbia. The published lower limit of detection for the two-cycle PhotonAssay method is 0.015 g/t Au, and the upper detection limit is 355 g/t Au. Samples returning gold values above the upper detection limit are re-assayed using a 50-gram charge fire assay with gravimetric finish through Bureau Veritas. Samples also undergo multi-element ICP-MS analysis to quantify minor and trace element associations.

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Contango Silver & Gold Inc. Provides Updates on Lucky Shot, Johnson Tract, and Kitsault Valley Projects

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