Contango (NYSE: CTGO) nets $9M JV cash to back $63M 2026 exploration push
Rhea-AI Filing Summary
Contango Silver & Gold Inc. reported that the Peak Gold joint venture made a $9 million cash distribution to the company on March 25, 2026, helping support an ambitious 2026 exploration program.
The plan includes a $21 million program at Lucky Shot, with 5,900 meters of underground drilling already completed and a total of 18,000 meters targeted in 2026 to support a feasibility study due in the first half of 2027. At Johnson Tract, a $17 million budget focuses on road construction, camp winterization, portal preparation, and key environmental permitting under the FAST‑41 program. At Kitsault Valley, a new mineral resource estimate is expected by the end of the second quarter of 2026, followed by a 40,000‑meter surface drilling campaign with a $25 million budget and a preliminary economic assessment/initial assessment targeted for the first half of 2027.
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Insights
Contango receives $9M JV cash and outlines fully funded 2026 drilling.
Contango Silver & Gold Inc. received a $9M cash distribution from the Peak Gold JV, while committing to a multi-asset 2026 exploration program totaling at least $63M across Lucky Shot, Johnson Tract, and Kitsault Valley.
The plan centers on advancing projects toward development milestones: a Lucky Shot feasibility study targeted for H1 2027, an updated Kitsault Valley mineral resource estimate by end of Q2 2026, and a subsequent PEA/IA also aimed for H1 2027. Infrastructure and permitting work at Johnson Tract are integral steps.
The company states the 2026 program is fully funded and emphasizes using JV cash flows to progress 100%-owned assets. Actual value creation will depend on drill results, updated resource estimates, successful permitting, and economic studies disclosed in future filings.
8-K Event Classification
Key Figures
Key Terms
Peak Gold JV financial
Feasibility Study financial
Mineral Resource Estimate (MRE financial
Preliminary Economic Analysis/Initial Assessment (PEA/IA) financial
FAST-41 program regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On April 22, 2026, Contango Silver & Gold Inc. (the “Company”) issued a press release announcing that that the Peak Gold JV made a cash distribution in the amount of $9,000,000 to Contango on March 25, 2026 and provided an updated on 2026 exploration plans. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
The information included herein and in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Cautionary Note Regarding Forward-Looking Statements
Many of the statements included or incorporated in this Current Report on Form 8-K and the furnished exhibit constitute “forward-looking statements.” In particular, they include statements relating to future actions, strategies, future operating and financial performance, ability to realize the anticipated benefits of various transactions and the Company’s future financial results. These forward-looking statements are based on current expectations and projections about future events. Readers are cautioned that forward-looking statements are not guarantees of future operating and financial performance or results and involve substantial risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of the Company may differ materially from that expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, factors described from time to time in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein).
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
Description of Exhibit |
99.1 |
Press Release of the Company, dated April 22, 2026. |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CONTANGO SILVER & GOLD INC. |
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April 22, 2026 |
By: |
/s/ Mike Clark |
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Chief Financial Officer & Secretary |
NEWS RELEASE
CONTANGO SILVER & GOLD INC.
Contango Announces $9.0 Million Cash Distribution from the Peak Gold JV and Update on 2026 Exploration Plans
FAIRBANKS, AK -- (April 22, 2026) -- Contango Silver & Gold Inc. (“Contango” or the “Company”) (NYSE American/TSX: CTGO) is pleased to announce that the Peak Gold JV made a cash distribution in the amount of $9 million (“M”) to Contango on March 25, 2026. The Peak Gold JV completed the first of four campaigns planned for 2026, with the second campaign scheduled to commence in mid-May 2026.
Advancing the Path to Production with a Robust 2026 Exploration Program
The Company is pleased to outline its 2026 operational roadmap to advance our pipeline of advanced exploration-stage projects. The 2026 campaign is headlined by: 1) a sustained underground drill program at Lucky Shot to support a Feasibility Study due H1 of 2027; 2) pivotal infrastructure construction and permitting at the Johnson Tract Critical Metals project; and 3) an updated Mineral Resource Estimate (MRE) at the Kitsault Valley project followed by a comprehensive drilling program to support a preliminary development plan for the Kitsault Valley assets due H1 2027. This 2026 program is fully funded to drive high-margin growth and systematic project de-risking as follows:
Across all operations, the Company remains committed to transparent and proactive community outreach, ensuring our growth aligns with local partnerships.
Rick Van Nieuwenhuyse, the Company’s Chief Executive Officer stated, “The $9 million cash distribution from the Peak Gold JV underscores the unique strength of our business model—using cash flow from our producing mine operations to fund the aggressive advancement of our 100%-owned assets. We are hitting the ground running in 2026 with the strongest balance sheet and the most aggressive operational schedule in our Company’s history. With nearly 60,000 meters of drilling and important infrastructure work planned in 2026, we are rapidly advancing and de-risking our Tier-1 assets toward production. This is a year of execution, and we are fully funded to deliver on the milestones that will define our next chapter as a leading silver and gold developer in Alaska and British Columbia.”
ABOUT CONTANGO
Contango is a NYSE American and TSX listed company that engages in the exploration for and development and production of gold and associated minerals in Alaska and in the Golden Triangle in British Columbia. 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, which consists of mineral rights to approximately 21,000 acres located near tidewater, 125 miles southwest of Anchorage, Alaska, from the underlying owner, CIRI, (ii) a lease on the Lucky Shot project, which consists of mineral rights to approximately 8,600 acres of State of Alaska and patented mining claims located in the Willow Mining District about 75 miles north of Anchorage, Alaska, from the underlying owner, Alaska Hardrock Inc., (iii) mineral rights to approximately 145,000 acres of State of Alaska mining claims, and (iv) mineral rights to approximately 11,700 acres of State of Alaska mining claims and upland mining leases, all of which give Contango the exclusive right to explore and develop minerals on these lands, (v) mineral tenures of approximately 247,000 acres (100,000 ha) located in and around the Kitsault Valley in the Golden Triangle of northwest British Columbia.
Additional information can be found on our web page at www.contangoore.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities (“Forward-looking Statements”). These include statements regarding Contango’s plans and expectations for its properties and operations, the content within future annual filings, operations in respect of Contango mineral properties and any benefits of investment in Contango. The Forward-looking Statements regarding Contango 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”, “intends”, “believes”, “ensures”, “forecasts”, “predicts”, “proposes”, “contemplates”, “aims”, “seeks”, “continues”, “potential”, “positioned”, “strategy”, “outlook”, “future”, “going forward”, “designed to”,
and similar expressions or other words of similar meaning, and the negatives thereof, or stating that certain actions, events or results “may”, “might”, “will”, “should”, “would”, or “could” be taken, or that they are “possible”, “probable”, or “likely” to occur or be achieved). However, the absence of these words does not mean that the statements are not forward-looking. 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; 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 operations 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.
CONTACTS:
Contango Silver & Gold Inc.
Rick Van Nieuwenhuyse
(907) 388-7770
www.contangoore.com