Contango updates Kitsault Valley resource to 89.5M Ag-eq oz, +93%

Fairbanks, Alaska--(Newsfile Corp. - September 22, 2026) - Contango Silver and Gold Inc. (NYSE American: CTGO) (TSX: CTGO) ("Contango" or the "Company") is pleased to announce an updated mineral resource estimate ("MRE") for its 100% owned Kitsault Valley Project located in Northwest British Columbia's Golden Triangle. The updated MRE, prepared under Subpart 1300 of U.S. Securities and Exchange Commission Regulation S-K, has an effective date of September 11, 2026, and reflects a substantially revised geological interpretation supported by ~434,000 meters of drilling completed through the end of the 2025 program.

Highlights

93% Increase in Indicated AgEq Resources: Indicated Mineral Resources expand to 89.55 million ("M") oz silver equivalent ("AgEq") - 7.66 million tonnes "(Mt") at 363 grams per tonne ("g/t") AgEq and Inferred Mineral Resources of 64.92 Moz AgEq - 6.31 Mt at 320 g/t AgEq.

Remodeled Geological Framework: Integrates the addition of 370 new drill holes totaling 175,264 meters drilled since the previous MRE update across seven deposits into advanced 3D geological models developed in Leapfrog, providing a consistent and repeatable framework for future resource updates.

Substantial Resource Base: Supported by a total project database of 1,873 drill holes totaling over 433,934 meters across eight resource-reporting deposits.

Expanded High-Grade Primary Silver Inventory: Indicated silver ounces grew by 93.1% to 58.7 Moz Ag alongside 394.70 koz Au, 9.38 Mlb Cu, 78.16 Mlb Pb, and 88.85 Mlb Zn; and

Project Roadmap: The Company plans to update the MRE again in H1 2027 which will incorporate the 2026 drill program, which should wrap up by October. The Company then plans to complete an S-K 1300 Initial Assessment targeted for later in 2027.

Rick Van Nieuwenhuyse, the Company's Chief Executive Officer