Contango Reports Results for Quarter Ended March 31, 2026

News provided by Contango Silver & Gold Inc. May 14, 2026, 07:55 ET Share this article Share to X Share this article Share to X FAIRBANKS, Alaska , May 14, 2026 /PRNewswire/ - Contango Silver and Gold Inc. ("Contango" or the "Company") (NYSE American: CTGO) (TSX: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended March 31, 2026 ("Q1-2026"). Rick Van Nieuwenhuyse, Chief Executive Officer of the Company, stated, "The first quarter of 2026 was a period of significant operational transition and strategic growth. At Manh Choh, while harsh winter conditions and operational challenges impacted Q1 throughput and costs, we are pleased to report that we are now entering a high-production phase; we expect ore tons processed and ore grade processed to increase for the remainder of the year, as we transition into the higher-grade portions of the South Pit.

Manh Choh remains on track to meet our 2026 guidance of 40,000 to 45,000 ounces of gold production, which will set the stage for 2027, which we are guiding to 75,000 to 80,000 ounces of gold production with cash costs of $1,200 to $1,300 per ounce sold and all-in sustaining costs of $1,300 to $1,400 per ounce sold. With this momentum, our cost guidance for the year remains firm. During the quarter we received a US$9 million ("M") cash distribution from the Peak Gold JV.

Our cash on hand for the end of the quarter was US$97.5 M an increase from US$64.8 M at December 31, 2025. For 2026, we anticipate cash costs between $1,900 to $2,000 and all-in sustaining costs of $2,200 to $2,300 per ounce of gold sold. Furthermore, we have strengthened our financial flexibility by reducing hedge contracts to 22,000 ounces and reduced our debt to $13.6 M, both of which we intend to fully settle by year-end." Mr. Van Nieuwenhuyse continued, "This has also been a transformative quarter for our corporate reach.

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