Contango intersects 140.23 g/t Au over 0.63 m, 18.16 g/t Au over 3.65 m at Lucky Shot

Fairbanks, Alaska--(Newsfile Corp. - October 6, 2026) - Contango Silver and Gold Inc. (NYSE American: CTGO) (TSX: CTGO) ("Contango" or the "Company") announces additional gold assay results from its 2026 surface diamond drilling program at the Lucky Shot Project in Alaska. The Company also provides an update on underground exploration development and drilling currently underway from the West Drift Extension to test the KM vein system.

Highlights

LSS26018 intersected 140.23 grams per tonne ( " g/t " ) gold (" Au ") over 0.63 meters* and 9.97 g/t Au over 4.57 meters , including 86.98 g/t Au over 0.39 meters .

LSS26021 intersected 18.16 g/t Au over 3.65 meters , including 61.73 g/t Au over 0.52 meters .

LSS26019 intersected 13.80 g/t Au over 2.74 meters , including 118.36 g/t Au over 0.30 meters , and 27.28 g/t Au over a separate 0.36 met er interval.

The surface program concluded on August 31, 2026, with approximately 5,800 meters drilled in 27 holes from five pads. This release reports results for nine holes from Pads C, D, E and F.

Underground exploration development has advanced 450 meters of a planned 830 meters, or approximately 54%. KM vein drilling began on September 16, 2026, with 10 of 17 planned holes completed.

*All reported assay interval lengths are downhole core lengths. True widths are not yet known and may be materially different.

Rick Van Nieuwenhuyse, the Company's Chief Executive Officer said, "We are highly encouraged by the additional assay results from the Lucky Shot surface drill program completed earlier this summer. The results demonstrate the continuity of the Coleman segment of the Lucky Shot vein system as well as better constrain the location of previously mined zones of the Coleman segment. This information will be instrumental in completing an updated mineral resource estimate (MRE) in H1 of