Contango Silver & Gold (CTGO) investor relations material

Executive summary

• Completed acquisition and integration of Dolly Varden Silver Corporation, expanding the asset base with the Kitsault Valley Project and advancing exploration in British Columbia and Alaska.

• Manh Choh Project in Alaska entered a high-production phase, generating $18.0 million in cash distributions from the Peak Gold JV in H1 2026 and achieving full repayment of initial investment.

• Significant exploration and drilling programs advanced at Lucky Shot, Johnson Tract, and Kitsault Valley, with key assay results and resource updates expected.

• Achieved operational execution and financial restructuring across four projects, unlocking future cash flows as profit.

Financial highlights

• Total assets increased to $496.8 million as of June 30, 2026, up from $172.0 million at year-end 2025, reflecting the Dolly Varden acquisition.

• Net loss of $9.5 million for H1 2026, compared to a net loss of $6.6 million for the same period in 2025; Q2-2026 net income was $4.8M, or $0.14 per diluted share.

• Cash and cash equivalents rose to $89.0 million as of June 30, 2026, up from $64.8 million at year-end 2025.

• Income from equity investment in Peak Gold JV was $22.0 million for H1 2026, down from $49.6 million year-over-year due to lower ounces sold.

• Net cash used in operating activities YTD-2026 was $50.3M, compared to $36.9M provided in YTD-2025; investing activities provided $20.4M, and financing activities provided $54.8M YTD-2026.

Outlook and guidance

• 2026 production guidance reaffirmed at 40,000–45,000 gold ounces; 2027 guidance set at 75,000–80,000 ounces at cash costs of $1,200–$1,300/oz and AISC of $1,300–$1,400/oz.

• Kitsault Valley Project resource update expected in Q3 2026; feasibility study for Lucky Shot targeted for H1 2027.

• Management expects sufficient liquidity for near-term obligations, supported by JV distributions, cash on hand, and capital market access.

• Targeting growth to over 200,000 gold ounces and 5M silver ounces annually as projects ramp up.