Contango reports results for quarter ended June 30, 2026

Fairbanks, Arkansas--(Newsfile Corp. - August 13, 2026) - Contango Silver and Gold Inc. (NYSE American: CTGO) (TSX: CTGO) ("Contango" or the "Company") announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended June 30, 2026 ("Q2-2026").

Rick Van Nieuwenhuyse, Chief Executive Officer of the Company, stated, "The second quarter of 2026 was a transformative period of operational execution and financial restructuring for Contango across all four projects. At Manh Choh, having completed mining in the North Pit, we are entering a high-production phase as we transition into the higher-grade portions of the South Pit where we expect both processed ore tonnage and grades to increase through the remainder of the year. Operational enhancements are being implemented at the Fort Knox mill to optimize recoveries ahead of our third 2026 campaign later this month with anticipated production of 11,000 to 12,000 gold equivalent ounces net to Contango, keeping us firmly on track to meet our 2026 production guidance of 40,000 to 45,000 gold ounces. Looking ahead, this sets the stage for a dramatic step-up in 2027, where we are guiding to 75,000 to 80,000 ounces of gold production at cash costs of $1,200 to $1,300 per ounce and AISC of $1,300 to $1,400 per ounce sold.

"Crucially, we hit a major milestone with Manh Choh this quarter: against our initial capital investment of $105 million ("M"), total returns to date have now reached $160 M-meaning our initial investment is fully repaid, and all future cash flows from the asset represent pure upside and clear profit. Supported by a $9.0 M distribution from the Peak Gold JV during the quarter, we ended Q2 with $89.0 M in cash, up from $64.8 M at year-end 2025. We leveraged this balance sheet strength to systematically simplify our capital structure and de-risk our growth assets. On July 1, 2026, we amended our credit facil