Contango Silver & Gold (CTGO) Corporate presentation summary

Strategic positioning and business model

• Positioned as an emerging mid-tier North American silver and gold producer with operations in Alaska and British Columbia, leveraging a direct shipping ore (DSO) model to minimize environmental impact and capital costs.

• DSO approach eliminates onsite processing and tailings, reducing permitting risk and accelerating project timelines.

• Portfolio includes producing, advanced exploration, and early-stage projects: Manh Choh, Lucky Shot, Johnson Tract, and Kitsault Valley.

• Targeting $100M+ annual cash flow from Manh Choh to self-fund exploration and growth.

Asset portfolio and project pipeline

• Manh Choh Mine (30% interest): In production, 1M oz at 8 g/t Au reserve (100% basis), first gold pour July 2024, targeting ~60,000 oz Au/year, $550M LOM free cash flow at $4,000/oz.

• Lucky Shot Mine (100%): Fully permitted, current resource 110,000 oz Au at 14.5 g/t, drilling to expand to 400,000–500,000 oz, targeting 40,000–50,000 oz Au/year by 2028.

• Johnson Tract (100%): 1.1 Moz @ 9.4 g/t AuEq, post-tax NPV5 $615M, IRR 60% at $4,000 gold, targeting 100,000 oz AuEq/year by 2030, federal permitting underway.

• Kitsault Valley (100%): ~65 Moz Ag and ~1 Moz Au resources, new MRE expected Q2 2026, 40,000m drill program planned.

Financial and capital markets profile

• Market cap of $825M, dual-listed on NYSE American and TSX, with strong institutional and ETF ownership (GDXJ, Russell 2000).

• Cash position of $97.5M as of March 31, 2026, with additional convertible debenture and debt facilities.

• Trades at a significant NAV discount (0.10x P/NAV) compared to peer average (0.71x), highlighting perceived undervaluation.