Contango Silver & Gold (CTGO) investor relations material

Surface drilling and geology

• Coleman surface drilling concluded August 31 after ~5,800 m in 27 holes across five pads; two holes were left short of target when early snow made conditions unsafe.

• LSS26018 returned 140.23 g/t Au over 0.63 m and 9.97 g/t over 4.57 m, including 86.98 g/t over 0.39 m; interpreted mineable width for the 140 g/t hit is 2–3 m.

• LSS26019 returned 13.80 g/t over 2.74 m, including 118.36 g/t over 0.30 m, plus 27.28 g/t over 0.36 m; LSS26021 returned 18.16 g/t over 3.65 m, including 61.73 g/t over 0.52 m.

• LSS26017 returned 46.32 g/t and 15.86 g/t, each over 0.30 m; a 3.92 m interval at LSS26031 remained pending in the assay release.

• Coleman 4 is emerging across pads D, E and F; tighter drilling will refine vein geometry and resource classification. Lucky Shot Fault intersections define the offset boundary and Coleman termination; unassigned and unknown intervals remain follow-up targets.

Underground exploration and development

• Underground development reached 450 m of 830 m planned (~54%); the 2090W West Drift Extension is complete, with work advancing in other headings.

• KM vein drilling began September 16; 10 of 17 planned holes, totaling ~1,140 m, were complete, with drilling underway from Station 346.

• Drilling is testing KM vein geometry, continuity and interpreted links to the Lucky Shot Fault and vein system; assays were expected in Q4 2026. Additional east-side stations are planned.

Resource and development plans

• Current resource cited at 100,000–110,000 oz grading 14.5 g/t; target is 400,000–500,000 oz at 10–12 g/t, allowing for mining dilution and overbreak.

• Resource update targeted for April–May; drilling results are also expected to inform an updated estimate in H1 2027. A feasibility study was targeted by year-end, with a feasibility-level study targeting a five-year mine plan and 40,000–50,000 oz annual production.

• Management cited mining costs of $200–$300/t, processing at $50/t and transport at $50/t, for total costs below $400/t before administration; mining target grade is 10–12 g/t.

• Processing options under evaluation include Fort Knox, a Taiwan facility via rail and ship, or a company-owned plant.

• Assay intervals are downhole lengths; true widths are unknown and may differ materially. Lucky Shot is exploration-stage, with no declared mineral reserves, and results do not demonstrate economic viability.