CTGO Contango Ore Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 09, 2024

 

 

Contango Ore, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-35770	27-3431051
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
516 2nd Avenue Suite 401
Fairbanks, Alaska				99701
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (907) 888-4273

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, Par Value $0.01 per share		CTGO		NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 7.01 Regulation FD Disclosure.

On September 9, 2024, the Company issued a press release announcing the start of a second campaign of gold production from the Manh Choh gold mine and a general corporate update. The Company is a 30% owner of Peak Gold, LLC, which operates the Manh Choh mine near Tok, Alaska. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

 

On September 9, 2024, the Company made available a new corporate presentation. A copy of this presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is available on the Company’s website at www.contangoore.com.

 

The Company’s presentation furnished as Exhibit 99.2 to this Current Report contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Reconciliations of these non-GAAP financial measures are not included in the furnished presentation due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures. In addition, certain of the non-GAAP financial measures have been prepared by Kinross Gold Corporation, the Company’s partner in, and the manager of, Peak Gold, LLC, a joint venture company in which the Company currently holds a 30% interest, and are based on International Financial Reporting Standards (IFRS) accounting standards and detailed information to which the Company has not had access to at this time. As a result, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measure without unreasonable efforts.

 

The information included herein and in Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Cautionary Note Regarding Forward-Looking Statements

 

Many of the statements included or incorporated in this Current Report on Form 8-K and the furnished exhibit constitutes “forward-looking statements.” In particular, they include statements relating to future actions, strategies, future operating and financial performance, ability to realize the anticipated benefits of the transactions with an affiliate of Kinross Gold Corporation and the Company’s future financial results. These forward-looking statements are based on current expectations and projections about future events. Readers are cautioned that forward-looking statements are not guarantees of future operating and financial performance or results and involve substantial risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of the Company may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, factors described from time to time in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein).

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.	Description of Exhibit
99.1	Press Release of the Company, dated September 9, 2024
99.2	Corporate presentation, dated September 9, 2024
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			CONTANGO ORE, INC.
Date:	September 9, 2024	By:	/s/ Mike Clark
			Mike Clark Chief Financial Officer and Secretary

 

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NEWS RELEASE

CONTANGO ORE, INC.

 

Contango Announces Start of Second Campaign of Gold Production from Manh Choh Gold Mine and General Corporate Update

 

 

FAIRBANKS, AK -- (September 9, 2024) -- Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) is pleased to announce that the Peak Gold JV has started processing Campaign #2 of Manh Choh ore through the Kinross Fort Knox mill located near Fairbanks, Alaska. Processing of ore for the Second Campaign started on August 27th and will continue into late September. In addition, the Company reported the following general corporate updates:

 

 

 

 

 

Rick Van Nieuwenhuyse, CEO and President for Contango said: “It is great see the start of the second campaign of Manh Choh ore going through the Fort Knox mill. Our representatives are on site to monitor the progress. We expect Campaign #2 to produce a target of 10,000 ounces of gold for Contango’s 30% share of production. In addition, the Company also sold an additional 1,500 ounces of gold and a minor amount of silver from the remaining Campaign #1 recoverable inventory, bringing the total production from Campaign #1 to 16,200 ounces of gold and 3,500 ounces of silver, yielding total sales of $36 million. With gold prices near an all-time high, we

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expect Campaign #2 sales to realize a blended price between $2,100 to $2,200 per ounce while delivering 60% of our gold into our hedges at $2,025 per ounce and selling the remaining 40% of our gold at the spot market price. All-in Sustaining Costs (“AISC”) for both Campaign #1 and #2, along with a discussion of our earnings and financial results for the quarter ended September 30, 2024, are expected to be announced in the first half of November. Mining and transportation of ore mined at Manh Choh continues to be delivered to the stockpile at Fort Knox and at this stage we continue to believe AISC remain in line with the feasibility study (TRS). A third campaign of similar size delivering an estimated 10,000 gold ounces for Contango’s account is currently planned to be processed in November, bringing our total gold production guidance for 2024 to approximately 36,000 ounces.”

 

Mr. Van Nieuwenhuyse continued, “meanwhile, the Company is making great progress advancing our newly acquired Johnson Tract project. We received the 404 “Wetlands Permit” from the USCOE on August 21st, which allows the Company to construct a 2.3 mile (3.7 km) access road connecting the existing camp and airstrip with the proposed portal site and associated laydown area. The permit also allows the Company to re-align and expand the airstrip to 5,000 ft. (~1.5km) to accommodate a L-100 Hercules air-cargo plane (~20 tonne capacity). In conjunction, we have entered into a MOU with OPMP to start permitting the underground exploration tunnel. Once the tunnel is completed, it will provide underground access to carry out in-fill definition drilling for measured and indicated resources along with detailed geotechnical, hydrology, environmental, engineering and mine planning studies to complete a feasibility study. The 2024 drill program is a little more than halfway completed and is on track to accomplish what we set out to complete: in-fill drilling on the top 1/3rd of the deposit along with collecting geotechnical, metallurgical and hydrologic information, as well as environmental studies on acid-base accounting and metal leaching characteristics of the host rocks. The program should wrap up by the end of September to early October timeframe - on plan and on budget. Information gathered during this program will also be used to support permitting of the underground tunnel, which is currently underway with OPMP.”

 

Mr. Van Nieuwenhuyse concluded with “Contango expects to finish the year with a strong balance sheet and be well positioned to execute on our plan to advance our Lucky Shot and Johnson Tract development stage projects. Lucky Shot is fully permitted and ready to drill in 2025. With the Manh Choh feasibility study1 reflecting delivery of an average of 67,500 ounces of gold annually for Contango’s account in 2025 and beyond, and with gold at record highs, we remain committed to adding shareholder value by executing on our ‘Hybrid Royalty’ model focusing on efficiently advancing our development stage projects using our DSO approach.”

ABOUT CONTANGO

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross, operator of the Peak Gold JV. The Company also has a lease on the Johnson Tract project from the underlying owner, CIRI Native Corporation, a lease on Lucky Shot project from the underlying owner, Alaska Hardrock Inc. and, through its subsidiary, 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims. In addition, Contango also owns a 100% interest in an additional approximately 145,000 acres of State of Alaska mining claims through its wholly

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owned subsidiary, which gives Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.

 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Contango that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on Contango’s current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as “expects”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “intends”, or stating that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those, reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for and developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango’s inability to retain or maintain its relative ownership interest in the Peak Gold JV; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango’s exploration program or financial results are included in Contango’s other reports on file with the U.S. Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.

 

CONTACTS

Contango ORE, Inc.
Rick Van Nieuwenhuyse

(907) 888-4273

www.contangoore.com

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FORWARD LOOKING STATEMENTS The Feasibility Study (“FS”) referenced herein that relates to Peak Gold, LLC (“Peak Gold”), was prepared by Kinross Gold Corporation (“Kinross”), which controls the Manager of Peak Gold and holds 70% of its outstanding membership interests, in accordance with Canadian National Instrument 43-101 (NI 43-101). Contango Ore, Inc. (“CORE” or “Contango”) owns the remaining 30% membership interest in Peak Gold, and must rely on Kinross and its affiliates for the FS and related information. Further, CORE is not subject to regulation by Canadian regulatory authorities and no Canadian regulatory authority has reviewed the FS or passed upon its accuracy or compliance with NI 43-101. The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” as used in the resource estimate, the FS and this presentation are Canadian mining terms as defined in accordance with NI 43-101. In the United States, mining disclosure is reported under sub-part 1300 of Regulation S-K (“S-K 1300”). Under S-K 1300, the U.S. Securities and Exchange Commission (“SEC”) recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” are substantially similar to international standards. Under S-K 1300, an SEC registrant with material mining operations must disclose specified information in its SEC filings concerning mineral resources, in addition to mineral reserves, which have been determined on one or more of its properties. Such mineral resources and reserves are supported by a technical report summary (the “S-K 1300 Report”), which is dated and signed by a qualified person or persons, and identifies and summarizes the information reviewed and conclusions reached by each qualified person about the SEC registrant’s mineral resources or mineral reserves determined to be on each material property. CORE prepared an S-K 1300 Report, dated May 12, 2023, based on the FS, that presented mineral resource estimates and mineral reserve estimates for the Manh Choh project as of December 31, 2022 (the "Manh Choh S-K 1300 Report"). CORE prepared an additional S-K 1300 Report, dated May 26, 2023, based on historical and recent drill hole assay information, that presented mineral resource estimates for the Lucky Shot project as of May 26, 2023 (the "Lucky Shot S-K 1300 Report"). Investors are cautioned that while the S-K 1300 definitions are “substantially similar” to the NI 43-101 definitions, there are differences between the two. Accordingly, there is no assurance any mineral reserve or mineral resource estimates that Peak Gold may report as “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had CORE prepared the mineral reserve or mineral resource estimates under S-K 1300. Further, U.S. investors are also cautioned that while the SEC recognizes “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under S-K 1300, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization that has been characterized as resources has a greater degree of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any measured mineral resources, indicated mineral resources or inferred mineral resources that CORE reports are or will be economically or legally mineable. For more detail regarding the FS, please see CORE's press release dated May 26, 2023: https://www.contangoore.com/press-release/contango-ore-announces-completion-of-s-k-1300-technical-report-summary-for-its-manh-choh-project-in-alaska. The information contained in, or otherwise accessible through, the links are not part of, and are not incorporated by reference into this investor presentation. To view a copy of the Manh Choh S-K 1300 Report, see: https://assets.website-files.com/5fc5d36fd44fd675102e4420/6470afdaf94d2ac9f93d93e0_SIMS%20Contango%20Manh%20Choh%20Project%20S-K%201300%20TRS%20FINAL%2020230524%20(1)-compressed.pdf . The information contained in, or otherwise accessible through, the links are not part of, and are not incorporated by reference into this investor presentation. To view a copy of the Lucky Shot S-K 1300 Report, see: https://assets.website-files.com/5fc5d36fd44fd675102e4420/6487270414e64406df8280bb_Contango%20Lucky%20Shot%20Project%20S-K%201300%20TRS%202023-05-26.pdf. The information contained in, or otherwise accessible through, the links are not part of, and are not incorporated by reference into this investor presentation. For additional details on the Johnson Tract Project, see NI 43-101 Technical Report titled “Updated Mineral Resource Estimate and NI 43-101 Technical Report for the Johnson Tract Project, Alaska”, dated August 25, 2022 (effective date of July 12, 2022) authored by Ray C. Brown, James N. Gray, P.Geo. and Lyn Jones, P.Eng, see: https://cdn.prod.website-files.com/5fc5d36fd44fd675102e4420/66b39f847ac30bd736ac91ad_hg-technical-report-25aug-2022_compressed.pdf. The information contained in, or otherwise accessible through, the links are not part of, and are not incorporated by reference into this investor presentation.

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WHY CONTANGO INNOVATIVE NEW BUSINESS MODEL FOR JUNIOR DEVELOPERS In Production with $36M gold sold during Campaign #1 Low share count with expected high cash flow per share US Focused: US listed with US-based projects High-grade resources Grade is King Cash Flow is Queen Expected to generate over $60M Free Cash Flow per year from Manh Choh DSO1 Model: Minimizes environmental footprint Lower permitting risk Lower capital outlay Advanced project pipeline to become mid-tier producer Innovative “Hybrid Royalty” Model 1. DSO = Direct Ship Ore

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COMPANY PROFILE CAPITAL STRUCTURE TRADING - NYSE AMERICAN: CTGO1 90-Day Avg. Daily Volume 86,000 shares per day 52-week range US$14.03 - $25.32 Market Cap $265 M *Russell 2000 Inclusion - June 26, 2023 CAPITAL STRUCTURE1 Issued & Outstanding 12.2 M Warrants   0.8 M Options 0.1 M Fully Diluted 13.1 M FINANCIAL POSITION2 Cash $24 M Debt (gross) $80 M Institutional Retail / Others Directors & Officers (Insiders) 1. Approximate amounts reported as of August 26, 2024 2. Amounts reported as of June 30, 2024

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FAIRBANKS ANCHORAGE ALASKAN FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) FORT KNOX MILL (Kinross) Early-Stage Exploration Advanced Stage Exploration (Reserves/Resources) Production MANH CHOH MINE (30%)1 Production started Q3 2024 1Moz resource at 8 g/t GEO with exploration upside Est. annual production of 67,500 GEO2,3:  +$75M4 (at $2,175 blended gold price) +$270M LOM5 free cash flow LUCKY SHOT MINE (100%) 1 Current resource: 110,000 GEO at 14.5 g/t Fully permitted for mining & on road/rail system 2-3 yrs to complete drilling and develop 400,000-500,000 GEO Target 30,000 – 40,000 GEO annual production JOHNSON TRACT PROJECT (100%) 1 Current Resource: 1.1 Moz @ 9.4 g/t GEO Goal is to complete permitting and FS in 5 yrs Target 150,000 GEO annual production 1. Reserve and Resource Table can be found in the Appendix 2. GEO = Gold Equivalent Ounces 3. Please refer to the Manh Choh S-K 1300 Report referenced on page 3 4. Refer to page 9 5. LOM = Life of Mine

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MANH CHOH MINE PRODUCTION FROM CAMPAIGN #1 COMPLETED See news release dated August 19, 2024 “Contango Announces Results of the First Batch of Gold Production from Manh Choh Gold Mine, Alaska”: https://www.contangoore.com/press-release/contango-announces-results-of-the-first-batch-of-gold-production-from-manh-choh-gold-mine-alaska and September 9, 2024 “Contango Announces Start of Second Campaign of Gold Production from Manh Choh Gold Mine and General Corporate Update”

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MANH CHOH MINE ATTRACTIVE ECONOMICS AS NON-OPERATING PARTNER 1 See Contango’s SK1300 Manh Choh Technical Report Press Release dated May 26, 2023; Initial capex reflects the Kinross feasibility study reported in “Q2 Corporate Update ” Press Release and Corporate Presentation dated July 26 and 27, 2022; The optimization for the mineral reserve estimate assumed a $1,300 per ounce gold price; the $189 million estimate reflects remaining funds to be expended between 2022 and 2024; there will be additional capital required at Fort Knox to accommodate Manh Choh ore; and is a Toll Milling charge to the Peak Gold JV; "All-in sustaining cost (AISC) per equivalent ounce sold“ is a non-GAAP ratio. “GEO” refers to Gold Equivalent Ounces. See: https://www.contangoore.com/press-release/contango-ore-announces-completion-of-s-k-1300-technical-report-summary-for-its-manh-choh-project-in-Alaska. The information contained in, or otherwise accessible through, the link is not part of, and is not incorporated by reference into this investor presentation. At gold spot price of $1,920/Ounce $129 M+ of annual revenue $54 M+ of annual cash flow Hedged 124,600 ounces of gold sold at forward prices ~ $2,025 Remaining hedge balance after Campaign #1: 115,700 ounces Illustrative Economics at Select Gold Prices1 AISC: $1,116/Oz

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STRONG INITIAL RESULTS PRODUCTION FROM MANH CHOH PRODUCTION (000’s GEO) NET SALES1 (US$M) AISC COSTS (US$/GEO) FREE CASH FLOW (US$M) HEDGE POSITION (000’s) Q3 2024 Campaign #1 Guidance Q3 2024 Campaign #1 Actual 2024 FY Guidance *All numbers are net to Contango 16.2 10 H2 - partial 124.6 16.2 Q3 2024 Campaign#1 Campaign#2 $36 Q3 2024 Guidance Campaign#3 Q4 2024 Guidance $22 $22 40 8.9 Campaign #1 30 AISC AND FREE CASH FLOW FROM Campaign #1 & #2 TO BE REPORTED IN Q3 RESULTS IN NOVEMBER 2024 1. Q3 and Q4 guidance assumes midpoint of guidance of 35,000 GEO production for 2024 at a blended realized gold price of $2,175

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MANH CHOH MINE CTGO SUCCESS OF DSO APPROACH DSO CRITERIA High-grade resources Gold, Silver, Copper focus Near Infrastructure Road Rail Water Simple permitting from a mining perspective Minimal water and wetlands impact Simple mining/processing Private and State lands 2020/2021 2022 2023 2024 JV with Kinross, Community Outreach, PFS/FS, Permit applications submitted Construction decision & road construction, mill modifications, campus renovation; 404 Wetlands Permit received Operating permits received; construction completed with groundbreaking ceremony in August; ore transport started in November Ore stockpiled at Manh Choh and Fort Knox; first gold pour in July 2024! FEDERAL PERMITS  1 YR CONSTRUCTION AND RAMP UP  2 YRS Manh Choh deposit before mining

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BUILDING CONTANGO INTO A “HYBRID ROYALTY” COMPANY By identifying Opportunities with “Orphan Projects” that fit Contango’s DSO Criteria, we can build value for shareholders quicker than the traditional business model THEN NOW

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BUILDING CONTANGO INTO A “HYBRID ROYALTY” COMPANY WHAT IS A HYBRID ROYALTY MODEL? High cash flow per employee: low overhead cost easier to manage Acquire for a cost; seek near-term production projects Acquire via cash or shares and then have exploration agreements with operators (toll milling, ore sales, or JV) No control over operational risks but still exposed Greatly reduced risk by processing offsite; as JV owner we have input on operations Portfolios of 1-5% NSR  significant cash flow per share Manh Choh: +$75M1 per annum  ~$6/CTGO share Typically 15-30x EBITA 1.25-2x NAV High valuation compared to peers More similar to royalty groups Strong cash flow/share Small Team of Experts Lucky Shot and Johnson Tract to provide growth 1. Please refer to the Manh Choh S-K 1300 Report referenced on page 3

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BUILDING CONTANGO INTO A HYBRID ROYALTY COMPANY By Applying our DSO model alongside our healthy balance sheet and strong cash flows, we stand out among, not only our peers, but the tech companies in terms of revenue/employee LOW SHARE COUNT US-ONLY LISTING ACCESS TO CAPITAL CTGO BUILT ON 3 PILLARS OF SUCCESS Royalty Companies Wheaton Precious Metals, Royal Gold, Franco Nevada Contango Ore Tech Companies Apple, Meta, Google, Netflix Microsoft, NVIDIA ~$12,500 ~$350- $4,000 ~$21,000-$60,000 REVENUE/EMPLOYEE (000’s) Major Dev Companies Barrick, Anglo American, Kinross, Agnico Eagle, Rio Tinto, Newmont ~$500-$1,500 Junior Producers Lion One, Ascot, i-80 Gold Aya Gold & Silver, Andean Resources ~$25- $500 Source: Company Materials Note a: Based on company H2 Revenue totals and projected to year end

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WELL POSITIONED COMPARED TO PEERS PROJECTED ANNUAL FREE CASH FLOW PER SHARE (2025E; US$/SHARE) Source: S&P Capital IQ, Cormark Research Note: As of August 28, 2024 Based on Contango’s LOM annual average operating cash flow less corporate G&A and other expenses Based on Contango’s hedged gold price of US$2,025/oz Au (1)(2)

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CONTANGO’S DEVELOPMENT PIPELINE Focused on three Advanced-Stage Exploration Projects to support 200,000 GEO production by 2030 MANH CHOH LUCKY SHOT JOHNSON TRACT Fully Permitted and Producing Gold Permits received in less than 2 years Built on time and on budget First gold pour on July 8, 2024 Campaign #1 completed early August 2024 Est. 67,500 oz annual production1 Campaign #1 Gold Sales: $36M USD Fully permitted for mining 110,000 oz at 14.5 g/t GEO 2-3 years to develop 400,000-500,000 GEO resource Plan to start with 30,000-40,000 GEO production Mining production decision expected by 2027 Recently acquired for $30/GEO Established 1.1M oz resource at 9.4 g/t GEO Permit to build road from camp to Portal site received August 2024 Target for PEA by 2025 Target for FS with mine construction decision by 2029 2024 2 – 3 Yrs 2030 30,000 - 40,000 GEO 200,000 GEO First gold pour from Manh Choh – 30,000 to 40,000 GEO expected for 2024 67,500 GEO 100,000 GEO Definition resource drilling at Lucky Shot Road and Portal development at Johnson Tract Lucky Shot online: ~30,000 to 40,000 GEO annually UG development, resource definition, FS at Johnson Tract All 3 projects in production 2 – 3 Yrs 2025 1. Please refer to the Manh Choh S-K 1300 Report referenced on page 3

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MANH CHOH – A DSO SUCCESS CONTANGO’S FLAGSHIP PROJECT – COMMERCIAL PRODUCTION AS OF JULY 2024 Campaign #1 16,200 oz Gold for total sales of $36M USD *Images used with permission from Kinross IN PRODUCTION On schedule and on budget Permits and construction completed in under 2 years 3 yrs to production from formation of JV to first gold pour! Strong projected cash flows Manh Choh to Fort Knox  240 mi Kinross is operator (70% owner) Contract mining & trucking Exploration upside on 685,000 acres

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LUCKY SHOT – OUR NEXT DSO PROJECT FOCUSED ON RESOURCE EXPANSION OVER THE NEXT 2-3 YEARS DEVELOPMENT Historically producing district: 250,000 ozs averaging 40 g/t Au Mesothermal quartz vein with free gold +1 mi (1.6 km) strike length Contango controls entire district Underground is fully refurbished with new development constructed in 2023 Exploration and definition drilling planned for 2025 LUCKY SHOT Coleman Adit Lucky Shot “500” Adit War Baby Adit Looking NNE Enserch Tunnel Classification Tonnes  Au Grade Au Ounces (g/t)  Measured - - - Indicated 190,092 15.6 95,036 TOTAL 190,092 15.6 95,036 Inferred 74,265 9.9 23,642 Classification Tonnes  Au Grade Au Ounces (g/t) Measured - - - Indicated 36,871 8.9 10,584 TOTAL 36,871 8.9 10,584 Inferred 7,793 5.9 1,468 Coleman and Lucky Shot Resources Tables1 Please see S-K 1300 Technical Report Summary on the Lucky Shot Project Alaska, USA https://www.contangoore.com/investors/overview Lucky Shot Segment of Lucky Shot Vein Coleman Segment of Lucky Shot Vein Combined Segments of Lucky Shot Vein Resources Classification Tonnes  Au Grade Au Ounces (g/t) Measured - - - Indicated 226,963 14.5 105,620 TOTAL 226,963 14.5 105,620 Inferred 82,058 9.5 25,110 Note 1: Measured, Indicated and Inferred mineral resource classification are assigned according to CIM Definition Standards. Mineral resources, which are not mineral reserves, do not demonstrate economic viability and there is no guarantee that mineral resources will be converted to mineral reserves. This mineral resource estimate was prepared by Sims Resources LLC based on data and information available and has an effective date of May 26, 2023. The Measured, Indicated and Inferred mineral resources are reported using the following parameters: undiluted gold grades; long term gold price of $US1,600 per ounce; reported as contained within a 3.0 g/t Gold underground shapes and applying a 3.0 meter minimum width at a 4.3 g/t gold cutoff grade (“COG”).

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LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO PATENT CLAIMS COLEMAN VEIN LUCKY SHOT VEIN COLEMAN ADIT ENSERCH TUNNEL LUCKY SHOT ADIT LOOKING NORTH FISHHOOK-WILLOW CREEK RD

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LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO LUCKY SHOT DEVELOPMENT Planned 15,000m in-fill drill program for resource definition OBJECTIVES: Define high-grade “ore shoots” Delineate 400,000 to 500,000 GEO Collect data for detailed mine plan COLEMAN VEIN LUCKY SHOT VEIN COLEMAN ADIT ENSERCH TUNNEL LUCKY SHOT ADIT LOOKING SOUTHWEST

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LUCKY SHOT – WILLOW CREEK DISTRICT SCALE OPPORTUNITY DEVELOPMENT Historic High-Grade Gold Mining District Initial Discoveries 1890’s 20+ Historic Mines and Prospects Relatively “unmined” since 1942 Mesothermal, shear hosted quartz +Au veins LUCKY SHOT Lucky Shot ore with visible gold Coleman

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JOHNSON TRACT CONTANGO’S LATEST DSO ACQUISITION DEVELOPMENT Robust grades + thickness ~1.1M oz @ 9.4 g/t GEO 40m true width Located on the coast Marine transport is lowest form of bulk transport Private land owned by CIRI Corporation Ideal for low-cost underground mining Subvertical Bulk-mining widths Ramp access Bottom-up/gravity assist Above the water table District potential – exploration upside JOHNSON TRACT

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JOHNSON TRACT JOHNSON TRACT LEASED FROM CIRI ALASKA NATIVE CORP Alaska Native Claims Settlement Act (1971) Model system for Native Land Claims & Resource Development, providing certainty and fairness Alaska Native Corporations hold title to lands with high natural resource potential; wealth from development of natural resources flows directly to native shareholders JOHNSON TRACT Map of Alaska Regional Native Corporations. The Red Dog mine, located on NANA Native Corporation land and operated by TECK , is one of the largest, highest grade Zinc mines in the World and is a model of success. Johnson Tract Mining Lease with Cook Inlet Region, Inc Agreement between CIRI and Contango to explore and develop Johnson Tract CIRI retains royalties on production and future project participation rights CIRI’s Mission is to promote the economic and social well-being and Alaska Native heritage of its shareholders, now and into the future, through prudent stewardship of the company’s resources, while furthering self-sufficiency among CIRI shareholders and their families.

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JOHNSON TRACT PRIVATE SURFACE RIGHTS (CIRI OWNERSHIP) AND WIDE FLAT VALLEY WITH MINIMAL WETLANDS JOHNSON TRACT DEVELOPMENT Valley is well suited for infrastructure 50-man camp 267 DDH: +80,000m drilled 2024 Program Focused On: Infill drilling at resource Hydrological testing Geotechnical testing Metallurgical testing Access Road to Portal Next Steps: Received 404 wetlands permit for Portal Access Road in August 2024 Contractor Selection Detailed Design and Engineering Construction to begin during 2025 field season

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JOHNSON TRACT ATTRACTIVE ATTRIBUTES FOR UNDERGROUND MINING JOHNSON TRACT DEVELOPMENT View in previous slide JT DEPOSIT Potential for short lateral UG ramp to base of the Johnson Tract Deposit Gravity assist, bottom-up mining Highest grade accessed first

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JOHNSON TRACT PLAN TO INITIATE UG RAMP/MINING PERMITTING IN H2 2024 Purpose and Objective: Infill drilling from underground to support resource upgrade and advance economic studies for a DSO mine Access to drill test deep exploration targets and >1.5 km of high potential mineral trend JOHNSON TRACT

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JOHNSON TRACT DEPOSIT GEOLOGY: HYBRID EPITHERMAL-VMS MODEL Pueblo Viejo and Romero deposits in Dominican Republic are good analogues Sub-marine High-Sulfidation Epithermal/Porphyry systems with some VMS characteristics – telescoped system Dacite Quartz Porphyry Qtz-eye Dacite Andesite Cross-section looking NE Copper-rich zone

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JOHNSON TRACT ROBUST GRADES WITH THICK INTERCEPTS 108.6 m of 10.4 g/t Au, 7.6% Zn, 0.7% Cu, 2.0% Pb and 8 g/t Ag   71.4 m of 20.9 g/t Au, 9.8% Zn, 0.9% Cu, 1.6% Pb, and 9 g/t Ag 99.7 m of 10.1 g/t Au, 6.7 g/t Ag, 0.9% Cu, 1.3% Pb, and 6.3% Zn 137.7 m of 11.3 g/t Au, 2.4% Zn, 0.5% Cu, 0.5% Pb, and 4 g/t Ag  112.2 m of 10.3 g/t Au, 6.35 g/t Ag, 0.7% Cu, 1.5% Pb, and 5.0% Zn   59.0 m of 14.2 g/t Au, 9.3 g/t Ag, 1.0% Cu, 2.2% Pb, and 4.4% Zn  107.8 m of 12.4 g/t Au, 7.1% Zn, 0.9% Cu, 1.6% Pb, and 9 g/t Ag   75.1 m of 10.0 g/t Au, 9.4% Zn, 0.6% Cu, 1.1% Pb, and 6 g/t Ag  74.1 m of 17.9 g/t Au, 7.3% Zn, 0.5% Cu, 1.3% Pb, and 7 g/t Ag   56.6 m of 19.3 g/t Au, 2.4% Zn, 0.5% Cu, 0.4% Pb, and 3.9 g/t Ag   120.5 m of 18.8 g/t Au, 3.9% Zn, 0.6% Cu, 0.9% Pb, and 6 g/t Ag   Thick (40m true width & high-grade) True width 10x thicker than high-grade peers Amenable to low-cost underground mining Vein Styles Selected Drill Intercepts

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JOHNSON TRACT 2024 DRILL PROGRAM IN PROGRESS A A’ JT Deposit JT Camp Portal Site Proposed Exploration Ramp 3,000m Oriented Core Program in 10 holes Short holes (~150m) targeting the upper 1/3 of resource to upgrade Resource category 2 deeper holes (~400m) through the ore body to support advanced Geotechnical, Metallurgical and Ore Characterization – ARD, Humidity Cell testing ~4 – 5 holes will support Hydrological testing (pump test and piezometer installation) Camp opened July 2024 and expected to close end of September/early October 2024 Cross-section looking NE Cross-section looking NE A A’ A A’ INDICATED INFERRED UNCLASSIFIED

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Ellis Zone discovery 4km NE of JT Deposit 578 g/t Au and 2,023 g/t Ag over 6.4 m JOHNSON TRACT EXPLORATION UPSIDE – NEW GEOPHYSICAL TARGETS 2023 geophysical survey defines 12km (7.5 mi) mineral trend Geophysics, geochemistry and geology define Distinct +10km long epithermal/VMS trend Two potential intrusive related Cu-Au targets (porphyry) Large, shallowly buried, untested alteration systems detected at DC, between DC and JT, and South of Johnson Tract Multiple new drill targets 2023 Airborne MobileMT Survey (3D inversion)

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CONTANGO’S CORPORATE STRATEGY 5 YEAR EXECUTION PLAN TO BECOME A MID-TIER GOLD PRODUCER MANH CHOH MINE (30%)1 Production started Q3 2024 1Moz resource at 8 g/t GEO with exploration upside Est. annual production of 67,500 GEO2,3 :  +$75M4 (at $2,175 blended gold price) +$270M LOM5 free cash flow LUCKY SHOT MINE (100%) 1 Current resource: 110,000 GEO at 14.5 g/t Fully permitted for mining & on road/rail system 2-3 yrs to complete drilling and develop 400,000-500,000 GEO Target 30,000 – 40,000 GEO annual production JOHNSON TRACT PROJECT (100%) 1 Current Resource: 1.1 Moz @ 9.4 g/t GEO Goal is to complete permitting and FS in 5 yrs Target 150,000 GEO annual production CONTANGOS 5-YEAR PLAN TO CREATE A 200,000 GEO/YEAR ALASKA PRODUCER USING A DSO APPROACH FOR HIGH QUALITY PROJECTS 1. Reserve and Resource Table can be found in the Appendix; 2. GEO = Gold Equivalent Ounces; 3. Please refer to the Manh Choh S-K 1300 Report referenced on page 3 4. Refer to page 9; 5. LOM = Life of Mine

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THANK YOU 32 Corporate Inquires:info@contangoore.com+1-907-888-4273www.contangoore.com Twitter: @orecontangoLinkedIn: Contango OREInstagram: ContangoOREFacebook: Contango ORE QUESTIONS?

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NON-GAAP RECONCILIATION DISCLAIMER This presentation contains forward looking estimates of all-in sustaining cost (“AISC”), resources, free cash flow and EBITDA, which are financial measures not determined in accordance with United States generally accepted accounting principles (“GAAP”).  We cannot provide a reconciliation of estimated AISC, resources and EBITDA to estimated costs of goods sold, assets and net income, which are the GAAP financial measures most directly comparable to such non-GAAP measures, without unreasonable efforts due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate projected AISC, resources and EBITDA.  In addition, the estimates of AISC, resources and EBITDA have been prepared by Kinross and are based on IFRS accounting standards and detailed information that the Company does not have access to at this time. These amounts that would require unreasonable effort to quantify could be significant, such that the amount of projected GAAP cost of goods sold, assets and net income would vary substantially from the amount of projected AISC, resources and EBITDA. 33

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FORWARD DISCLOSURE SPECIFIC TO HIGHGOLD TRANSACTION This corporate presentation contains forward-looking statements and certain “forward-looking information” (within the meaning of Canadian securities legislation) regarding Contango, HighGold, the Transaction, the terms of the Transaction, the expected benefits of the Transaction, the completion of the Transaction, the timing of the Transaction, the development timeline of the Man Choh Project, expectations with respect to the development of the Johnson Tract Project post-Transaction, Contango’s growth plans post-Transaction and the continued cooperation of Contango with CIRI, that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on Contango and HighGold’s current expectations or assumptions as to the outcome and timing of such future events and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as “expects”, “believes”, “targets”, “approximately”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “intends”, or stating that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved).  Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those, reflected in the statements.  These risks include, but are not limited to: risks related to the ability of the parties to close the Transaction; risks inherent to the exploration and mining industry (for example, operational risks in exploring for and, developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV and the Johnson Tract Project; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango’s inability to retain or maintain its relative ownership interest in the Peak Gold JV;  inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur  or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango’s exploration program or financial results are included in Contango’s other reports on file with the U.S. Securities and Exchange Commission.  Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change. 34

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BUILDING OUR ESG FRAMEWORK DEVELOPING OUR STRATEGY AROUND OUR BUSINESS MODEL AND CORE VALUES BUILT ON OUR FUNDAMENTAL DSO CRITERIA High-grade resources Gold, Silver, Copper focus Near Infrastructure Road Rail Water Simple permitting from a mining perspective Minimal water and wetlands impact Simple mining/processing Private and State lands Defining the pillars Social - safety of our people and our communities, valued partnerships with Alaskan Natives Environment – responsible practices, minimize our footprint Governance - business conduct, social responsibility and reporting Growth – resulting in a strong, reputable company Working through materiality assessment Evaluating sustainability risk and opportunities ESG data quality and completeness forms reliable basis for the future Consolidating our understanding of risks, opportunities and policies for all our sites

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CONTANGO’S RESERVES AND RESOURCES CONTINUED ON NEXT PAGE Notes: Manh Choh Reserves 1. Published from 12MAY23 TRS The Manh Choh Project, Alaska, USA 2. The definitions for Mineral Resource in S-K 1300 were followed for Mineral Resources. 3. Mineral Reserves were estimated at long term prices of $1,300/oz Au and $17/oz Ag. 4. Mineral Reserves are reported at economic cut-off that varies by process cost and metallurgical recovery, approximately equivalent to 2.5 g/t Au. 5. Mineral Reserve estimates incorporate dilution built in during the re-blocking process and assume 100% mining recovery. 6. Mineral Reserves are reported in dry metric tonnes. 7. Numbers may not add due to rounding. 8. Mineral Reserves reported on 30% Contango Ore ownership basis. Notes: Manh Choh Resources 1. Published from 12MAY23 TRS The Manh Choh Project, Alaska, USA 2. The definitions for Mineral Resource in S-K 1300 were followed for Mineral Resources. 3. Mineral Resources are reported EXCLUSIVE of Mineral Reserves. 4. Mineral Resources were estimated at long term prices of $1,600/oz Au and $22/oz Ag. 5. Mineral Resources are reported using un-diluted Au and Ag grades. 6. Mineral Resources are reported within constraining pit shells. 7. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 8. Mineral Resources are reported in dry metric tonnes. 9. Numbers may not add due to rounding. 10. Mineral Resources are reported on a 30% Contango Ore ownership.

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CONTANGO’S RESERVES AND RESOURCES Notes: Lucky Shot Resources 1. Mineral Resources were estimated as of 26 MAY 23 under definitions for Mineral Resources in S-K1300. See TRS Lucky shot Project Alaska, USA. 2. Mineral resources are estimated using long term prices of US$1,600/oz Au price. 3. Mineral resources are reported using un-diluted Au grades. 4. Mineral resources are reported as contained within 3.0 g/t Au underground shapes applying a 3.0m min. width at a 4.3 g/t COG. 5. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There are no mineral reserves for the Lucky Shot Project. 6. Mineral resources are reported in dry metric tonnes. 7. Numbers may not add due to rounding. 8. Mineral resources are reported on a 100% ownership basis Notes: Johnson Tract Resources 1. Mineral Resources were estimates as of 25 AUG 22 under definitions for Mineral Resources in NI 43-101. See Updated Mineral Resource estimate and 43-101 Report for Johnson Tract project, Alaska. 2. Assumed metal prices are US$1650/oz for gold (Au), US$20/oz for silver (Ag), US$3.50/lb. copper (Cu), US$1/lb. lead (Pb), and US$1.50/lb. for zinc (Zn) 3. Gold Equivalent (“AuEq”) is based on assumed metal prices and payable metal recoveries of 97% for Au, 85% for Ag, 85% Cu, 72% Pb and 92% Zn from metallurgical test work completed in 2022. 4. AuEq equals = Au g/t + Ag g/t × 0.01 + Cu% × 1.27 + Pb% × 0.31 + Zn% × 0.59 5. An average bulk density value of 2.84 used as determined by conventional analytical methods for assay samples 6. Capping applied to assays to restrict the impact of high-grade outliers 7. Preliminary underground constrains were applied, including the elimination of isolated or scattered blocks above cut-off grade to define the “reasonable prospects of eventual economic extraction” for the Mineral Resource Estimate 8. Mineral resources as reported are undiluted 9. Mineral resource tonnages have been rounded to reflect the precision of the estimate 10. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability

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MANH CHOH 2024 DRILL PROGRAM IN PROGRESS Testing mineral systems concepts: Near-mine structural targets Augmented with in pit mapping efforts. Mineralized structures from Geochem surveys. 2. Geophysical targets with connections to mineralized source Conductivity, chargeability and magnetic anomalies proximal to potential fluid sources. Drilling: 3,900 m core drilling planned in 14 holes across 6 – 8 targets. Geochem sampling: ~2,500 Geochem soil and stream samples planned for target areas NE of the mine. 2024 CONCEPT 2024 PLAN MANH CHOH Legend Historic Drill Collar Manh Choh Mine Pits 2024 Planned Drill Collar 2024 Geochem Target Area Chief Danny Area – Near Mine Manh Choh North Pit Manh Choh South Pit Tok Tetlin Manh Choh Mine

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MANH CHOH REGIONAL EXPLORATION Mapping road cut exposures. Continuing reconnaissance stream sampling in the southern target zones. Grid soil sampling in Lat Grid target zone. 2024 CONCEPT MANH CHOH

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Planned 15,000 m in-fill drill program for resource definition LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO

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CONTANGO’S EARLY-STAGE EXPLORATION PORTFOLIO ALL ALONG THE ALASKAN ROAD SYSTEM EAGLE, NW OF MANH CHOH ALASKA HONA, NW OF MANH CHOH ALASKA TRIPLE Z, E OF MANH CHOH ALASKA SHAMROCK, ALASKA (RICHARDSON DISTRICT) AMANITA, ALASKA (FAIRBANKS DISTRICT) GOLDEN ZONE, CENTRAL ALASKA 64,900 acres of State of Alaska Mining claims Overlying favorable stratigraphy on trend with Manh Choh Stream sediment and pan concentrate sampling identified strongly anomalous gold, copper, arsenic Located immediately adjacent to Eagle block IRG target Historic drilling by Kennecott in 1990’s Mag-VTEM survey completed in 2019 2019 drill program intersected wide-spaced gold mineralization worthy of follow-up drilling 95 State mining claims, encompassing 14,810 Acres State land transfer from Federal government completed Jan 2024 Soil Geochem, and Geophysics (ground IP) anomalies suggest large scale Copper-gold-silver-Molybdenum drill ready targets 368 State mining claims encompassing 52,920 Acres. Along Alaska Highway and Trans Alaska Pipeline. Abundant historic gold placer mines on and adjacent to property. Limited historic core drilling and well-defined soil geochem anomalies suggest several types of gold deposits may be present on the property One State upland Mining lease and 54 state mining claims encompassing 3,408 acres Historic Drilling confirm mineralized structures on strike with Kinross Fort Knox Mine approximately 5 Km NE 68 State Mining Claims and 1 State Upland Mining Lease encompassing 10, 710 Acres Mid-way between Fairbanks and Anchorage AK ~ 15 km west of the Parks highway Most developed target is a Breccia Pipe in core of Cretaceous stock and covers an area of 150m x 80m near surface. 2016 NI-43-101 reports Indicated Resource of 267,400 Oz Au and 1,397,800 oz AG (4.187 Mt @ 1.99 g.t Au and 10.38 g.t Ag). Deposit remains open and not tested ad depth and along strike.

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CONTANGO MANAGEMENT Mr. Van Nieuwenhuyse was appointed to serve as President, Chief Executive Officer, and director of the Company effective January 6, 2020. He previously served as President and Chief Executive Officer of Trilogy Metals Inc. from January 2012 until December 2019. Between May 1999 and January of 2012, he served as the President and Chief Executive Officer of NOVAGOLD, Inc, a company that he founded. He served as the Vice President of Exploration for Placer Dome from 1990 to 1997. Mr. Van Nieuwenhuyse holds a Candidature degree in Science from Université de Louvain, Belgium and a Master of Science degree in Geology from the University of Arizona. Mr. Van Nieuwenhuyse currently serves on the board of directors of Alexco Resource Corp. He served on the board of directors of Sandfire Resources America, Inc. (formerly, Tintina Resources Inc.) from 2008 until 2016. Mr. Van Nieuwenhuyse has over forty years of experience in the minerals mining industry and brings significant industry and technical knowledge to the Company. Rick Van Nieuwenhuyse PRESIDENT & CEO Mr. Clark was appointed to serve as Executive Vice President - Finance of the Company, effective July 11, 2023. He was then appointed as Chief Financial Officer & Corporate Secretary, effective January 1, 2024. He previously served as Chief Financial Officer and Corporate Secretary for Alexco Resource Corp. from December 2014 to September 2022 at which time Alexco Resource Corp was acquired by Hecla Mining Company. Between 2010 and 2014, Mr. Clark served as Chief Financial Officer of Goldgroup Mining Inc. and from 2007 to 2010 Mr. Clark served as Chief Financial Officer for the Grosso Group and its member companies. Mr. Clark received an undergraduate degree from the British Columbia Institute of Technology and is a Canadian Qualified Chartered Professional Accountant. Between 2016 and 2020, Mr. Clark also served on the Board of Trustees for the Burnaby Hospital Foundation as Chair of the Finance Committee. Michael Clark CHIEF FINANCIAL OFFICER Mr. Derek Meneghin assumed the role of Director of Finance for Contango Ore in October 2023, bringing a wealth of financial leadership to the organization including a robust background in the mining and exploration sector. Mr. Meneghin has been involved in various stages of the mine life, from exploration and permitting to construction and operations. Prior to his current position, Mr. Meneghin has held key roles, including his tenure at Hecla Mining, where he was the Site Controller for the Keno Hill Mine. His journey includes extensive experience in financial and operational reporting, evolving into a strategic financial professional with a specialized focus on the unique challenges inherent in the minerals mining industry. Mr. Meneghin is a Chartered Professional Accountant, Certified General Accountant and holds a Bachelor of Business Administration from Simon Fraser University. Derek Meneghin DIRECTOR OF FINANCE

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CONTANGO DIRECTORS Co-founder of Contango Ore Chairman since 2013 Sole Manager of Juneau Exploration – a company involved in the exploration and production of oil and natural gas Petroleum Engineer with years of experience at Zilkha Energy Company, Texas International Company, Enserch Corporation, Contango Oil & Gas, Talos Energy BSc in Petroleum Engineering from Louisiana State University Brad Juneau CHAIRMAN Joeseph Compofelice DIRECTOR Curtis Freeman DIRECTOR Rick Van Nieuwenhuyse PRESIDENT & CEO Darwin Green DIRECTOR Richard Shortz DIRECTOR President & CEO of Contango Ore Founder of NovaGold, currently permitting the 40Moz Au Donlin Gold Project Founder of Trilogy Metals, currently developing the Arctic Deposit with South32 Winner of the 2015 Colin Spence award for Excellence in Mineral Exploration from AMEBC Winner of the 2009 Thayer Lindsley Award from the PDAC for the Donlin Gold Discovery Candidature Degree in Science from Universite de Louvain, Belgium and a MSc in Geology from University of Arizona President & CEO of HighGold Mining prior to the acquisition by Contango Ore Executive Chairman of Onyx Gold Corp Previously served as VP Exploration for Constantine Metals Awarded the Commissioner’s Award for Project Excellence by the State of Alaska for overseeing the underground development program at the Niblack deposit BSc from University of British Columbia and an MSc in Economic Geology from Carleton University US Certified Professional Geologist licensed in the State of Alaska Formed Avalon Development Corp in 1985 – a geologic exploration services company responsible for the discovery of the Manh Choh deposit now in production Founding Director of Tectonic Metals Inc, Valhalla Metals Inc and is on the Technical Advisory Boards of Metallic Minerals, Group Ten Metals, and Granite Creek Copper BSc at College of Wooster in Ohio and a MSc at University of Alaska - Fairbanks Operating partner of White Deer Energy – an energy focused private equity fund Chairman and CEO of Axios Industrial Group Previously served as Chairman of the Board and CEO of Trico Marin Service, CEO of Aquilex Service Corp, CompX International, CFO of NL Industries, Titanium Metals Corp, and Tremont Corp. BSc at California State University at Los Angeles and a MBA at Pepperdine University President & CEO of Pavia Capital LLP – a family office investment company Previously served as Partner of Morgan, Lewis & Bockius LLP and Jones Day Reavis & Pogue LLP Previously was an executive at Tosco Corporation and Senior VP, General Counsel BSc in Accounting from Indiana University and a Juris Doctor degree from Harvard Law School

v3.24.2.u1

Document And Entity Information	Sep. 09, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 09, 2024
Entity Registrant Name	Contango Ore, Inc.
Entity Central Index Key	0001502377
Entity Emerging Growth Company	false
Entity File Number	001-35770
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3431051
Entity Address, Address Line One	516 2nd Avenue
Entity Address, Address Line Two	Suite 401
Entity Address, City or Town	Fairbanks
Entity Address, State or Province	AK
Entity Address, Postal Zip Code	99701
City Area Code	(907)
Local Phone Number	888-4273
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, Par Value $0.01 per share
Trading Symbol	CTGO
Security Exchange Name	NYSEAMER

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