Contango Silver & Gold intersects 86.05 g/t Au over 2.45 m at Lucky Shot

Fairbanks, Alaska--(Newsfile Corp. - September 2, 2026) - Contango Silver and Gold Inc. (NYSE American: CTGO) (TSX: CTGO) ("Contango" or the "Company") is pleased to announce initial gold assay results from the 2026 surface diamond drilling program at the Lucky Shot Project in Alaska, provide an update on underground exploration development, and report two previously unmodeled KM-style mineralized vein structures encountered during development of the West Drift Extension.

Highlights

LSS26016 returned 2.45 meters grading 86.05 grams per tonne ("g/t") gold ("Au"), including 0.80 meters grading 244.30 g/t Au and 0.30 meters grading 49.96 g/t Au , from the Coleman 3 vein extension.

LSS26003 returned 0.50 meters grading 81.57 g/t Au from the Coleman 1 Vein.

Five of the seven holes reported visible gold.

Pad C drilling returned multiple mineralized intervals and provided additional data supporting the interpreted down-dip continuation of Coleman veins toward the Lucky Shot Fault.

Approximately 5,700 meters in 27 drill holes have been completed from five surface drill pads, representing approximately 93% of the planned 6,000-meter program.

Underground exploration development has advanced 332 meters of a planned 830 meters, or approximately 40%, and the West Drift Extension has been completed to design.

Development of the West Drift Extension encountered two previously unmodeled KM-style mineralized vein structures, tentatively designated KM2 and KM3. Sample from stockpile ran up to 395.10 g/t Au (reported in Table 2).

Rick Van Nieuwenhuyse, the Company's Chief Executive Officer said, "These initial surface drill results validate our systematic approach to defining the Coleman vein geometry, even as our underground crews push forward on developing the access needed for our next underground drilling phase. Hitting 2.5