Contango Silver & Gold (CTGO) Investor update summary

Kitsault Valley resource

• September 2026 estimate: 89.55 Moz AgEq indicated at 363 g/t and 64.92 Moz inferred at 320 g/t; indicated resources rose 93.1% in ounces versus 2023.

• Indicated tonnage increased 84.4%; inferred tonnage fell 7.7% and inferred AgEq ounces fell 25.1%, reflecting conversions and revised geological interpretation.

• Resource covers ~3% of a 100,000-hectare land package; deposits remain open at depth and along strike, and most have not been drilled below 300 vertical metres.

• Estimate draws on 1,873 drill holes totaling 433,934 m; 370 new holes contributed 175,264 m, and 2026 drilling was excluded.

• More than 53,000 m of 2026 drilling is excluded; an updated estimate is targeted for H1 2027.

Resource confidence and modeling

• Indicated classification reflects closer drill spacing and stronger geological support for engineering and economic evaluations; the estimate is not a reserve and does not establish economic viability.

• Revised geological domains and tighter controls supported the updated estimate; modeling used Leapfrog Geo, with 34 domains and 23,264 assay intervals from 947 holes.

• Seven deposits were modeled using domain-specific compositing and grade capping; interpolation used inverse-distance-cubed weighting, with metallurgical recoveries integrated into AgEq calculations.

• Integrated Leapfrog models and databases are expected to speed future modeling and enable near-time drill analysis; data migration and contractor availability delayed the update.

Exploration and development plans

• 2026 drilling targeted infill, extensions, gaps between deposits, early-stage targets and gold-rich areas; step-outs confirmed Torbrit and North Star as one connected silver system.

• Initial Assessment/PEA is targeted for completion before year-end 2027; the next resource update is planned for H1 2027.

• Road construction from Alice Arm toward Wolf is expected to be substantially completed in 2027; permitting remains in progress.

• Processing options include a potential facility at an already permitted site, with avoiding a lengthy permitting process a key criterion.

• The Nisga'a relationship was described as a trusted partnership, with local jobs, training and Indigenous businesses highlighted as community benefits.