Contango Provides Corporate Update

Rhea-AI Summary

Contango ORE (NYSE American: CTGO) is participating in the annual 'Alaska On The Hill' event in Washington DC alongside 120 Alaskan business representatives. CEO Rick Van Nieuwenhuyse highlighted three key projects:

• Manh Choh gold mine is on track to produce 60,000 ounces of gold in 2025, with the second campaign starting mid-May
• Lucky Shot development project is in progress
• Johnson Tract project is gaining attention from the Trump administration for its potential to produce four critical metals: gold, silver, copper, and zinc

The company expects to release its Johnson Tract PEA next week, followed by Q1-2025 financials. The federal government is showing strong support for mining initiatives in Alaska, focusing on unleashing the state's resource potential.

Positive

• On track to produce 60,000 ounces of gold from Manh Choh mine in 2025
• Second mining campaign of 2025 starting mid-May
• Johnson Tract PEA report expected next week
• Company developing three revenue streams: Manh Choh (production), Lucky Shot and Johnson Tract (development)
• Johnson Tract to produce four critical metals: gold, silver, copper and zinc

Negative

• None.

Insights

Mining Industry Analyst

Contango confirms 60,000oz gold production target with upcoming PEA and Q1 financials amid favorable political environment for Alaskan mining.

Contango's update provides concrete operational guidance while participating in Washington DC's 'Alaska On The Hill' event. The company explicitly confirms its 60,000 ounce gold production target from the Manh Choh mine for 2025, with the second production campaign scheduled to begin mid-May. This production confirmation gives investors clear expectations for near-term output.

The company reports advancement on two development-stage projects: Lucky Shot and Johnson Tract. The Johnson Tract project is gaining particular attention for its critical metals profile, with plans to produce gold, silver, copper, and zinc - a diversified metals portfolio that reduces single-commodity risk exposure.

Two significant upcoming catalysts were announced: the Johnson Tract Preliminary Economic Assessment (PEA) expected next week, followed by Q1-2025 financial results shortly thereafter. The PEA will provide the first comprehensive economic evaluation of the Johnson Tract project, offering essential metrics for valuation.

The mention of federal government support for resource development in Alaska suggests a potentially favorable regulatory environment. The company's statement that "Alaska is front and center for the Trump Administration" indicates political alignment that could benefit their operations through streamlined regulatory processes.

Commodities Expert

Contango's critical metals project gaining political support while maintaining gold production targets and advancing key development milestones.

Contango's update highlights their strategic position in critical metals production through the Johnson Tract project, which will produce gold, silver, copper and zinc. The company explicitly notes this project is "getting a lot of attention from the Trump administration" specifically because of these four metals being classified as critical - connecting their operations to national resource security initiatives.

The confirmed gold production target of 60,000 ounces from Manh Choh provides concrete near-term production expectations. This production confirmation, coupled with the specific mid-May timeline for the second 2025 campaign, offers tangible operational metrics for evaluating execution capabilities.

The press release indicates strong political alignment with resource development in Alaska, stating the "federal government fully supporting mining and unleashing Alaska's extraordinary resource potential." This political backing could potentially translate to accelerated development timelines through streamlined regulatory processes.

The imminent release of the Johnson Tract PEA next week represents a significant catalyst that will establish baseline economic parameters for this critical metals project. This assessment, followed by Q1 financials, will provide comprehensive data points for evaluating both near-term performance and future growth potential across the company's diversified project portfolio.

FAIRBANKS, Alaska, April 30, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announces that Contango is in Washington DC this week for the annual 'Alaska On The Hill' event. The Company is joined by 120 of its fellow Alaskans from across the various businesses to bring Alaska's unique business voice to the Nation's Capital to advocate for a healthy Alaskan economy and a secure future for Alaska.

Rick Van Nieuwenhuyse, the Company's President and CEO stated, "We are excited to be here in Washington DC to meet with our representatives and other delegates to tell them about the mining industry in general and about production at our Manh Choh gold mine as well as the progress we are making on our two development stage projects - Lucky Shot and Johnson Tract. Johnson Tract specifically is getting a lot of attention from the Trump administration because of our plans to produce 4 critical metals - gold, silver, copper and zinc. Alaska is front and center for the Trump Administration and it's promising to see the federal government fully supporting mining and unleashing Alaska's extraordinary resource potential. We are happy to report that we remain on track to produce 60,000 ounces of gold from Manh Choh this year with our second campaign of 2025 starting in mid-May. Additionally, we expect to have our Johnson Tract PEA out next week and our Q1-2025 financials released shortly thereafter. It is a very exciting time for mining in Alaska, especially for Contango Ore."

ABOUT CONTANGO

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. The Company and its subsidiaries also have (i) a lease on the Johnson Tract project from the underlying owner, CIRI Native Corporation, (ii) a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc., (iii) 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims, and (iv) a 100% interest in approximately 145,000 acres of State of Alaska mining claims that give Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.  

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Contango that are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995, based on Contango's current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as "expects", "projects", "anticipates", "plans", "estimates", "potential", "possible", "probable", or "intends", or stating that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for and developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango's inability to retain or maintain its relative ownership interest in the Peak Gold JV; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango's exploration program or financial results are included in Contango's other reports on file with the U.S. Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

www.contangoore.com

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SOURCE Contango Ore

FAQ

What is Contango's (CTGO) gold production target for Manh Choh mine in 2025?

Contango (CTGO) expects to produce 60,000 ounces of gold from Manh Choh mine in 2025, with their second campaign starting in mid-May 2025.

Which critical metals will Contango (CTGO) produce at Johnson Tract project?

Contango plans to produce four critical metals at Johnson Tract: gold, silver, copper, and zinc. The project has gained attention from the Trump administration due to these critical metal resources.

When will Contango (CTGO) release its Johnson Tract PEA and Q1 2025 financials?

Contango expects to release the Johnson Tract PEA next week, followed shortly by their Q1-2025 financial results.

What are Contango's (CTGO) current development stage projects in Alaska?

Contango has two development stage projects in Alaska: Lucky Shot and Johnson Tract, alongside their producing Manh Choh gold mine.

What is the purpose of Contango's (CTGO) participation in 'Alaska On The Hill' event 2025?

Contango is participating in the 'Alaska On The Hill' event in Washington DC to advocate for Alaska's economy, discuss their mining operations, and engage with representatives about their gold mine and development projects.