Contango Silver (CTGO) director exercises options, now holds 49,471 shares

Rhea-AI Filing Summary

Contango Silver & Gold Inc. director Darren Paul Devine exercised stock options to acquire 10,325 shares of Common Stock at $12.46 per share. These options were originally issued to Dolly Varden Silver Corporation and are fully vested. After the exercise, he directly holds 49,471 Common shares.

Devine also retains fully vested stock options over additional Common shares, including grants with exercise prices of $13.86, $14.74 and $7,682.00 per share and expirations between February 2027 and February 2030, providing ongoing equity exposure tied to the company’s future performance.

Insider Trade Summary

10,325 shares exercised/converted

Mixed 5 txns

Insider Devine Darren Paul

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	10,325	$12.46	$129K
Exercise	Common Stock, par value $0.01	10,325	$12.46	$129K
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--

Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct); Common Stock, par value $0.01 — 49,471 shares (Direct)

Footnotes (1)

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Key Figures

Options exercised: 10,325 shares at $12.46 Common shares held: 49,471 shares Remaining option grant 1: 10,325 underlying shares at $13.86 +2 more

5 metrics

Options exercised 10,325 shares at $12.46 Stock option exercise on 2026-04-08

Common shares held 49,471 shares Direct Common Stock after transactions

Remaining option grant 1 10,325 underlying shares at $13.86 Stock Option, expires 2027-02-25

Remaining option grant 2 8,962 underlying shares at $14.74 Stock Option, expires 2029-03-28

Remaining option grant 3 7,682 underlying shares at $7,682.00 Stock Option, expires 2030-02-28

Key Terms

Stock Option (right to buy), derivative security, underlying security title, fully vested

4 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

underlying security title financial

"underlying_security_title: Common Stock"

fully vested financial

"The stock options are fully vested."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Devine Darren Paul

(Last) (First) (Middle)

516 2ND AVENUE

SUITE 401

(Street)

FAIRBANKS ALASKA 99701

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Contango Silver & Gold Inc. [ CTGO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	04/08/2026		M		10,325	A	$12.46	49,471	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$12.46	04/08/2026		M			10,325	04/08/2026	04/10/2026	Common Stock	10,325	$12.46	0	D
Stock Option (right to buy)	$13.86							(1)	02/25/2027	Common Stock	10,325		10,325	D
Stock Option (right to buy)	$14.74							03/28/2029(1)	03/28/2029	Common Stock	8,962		8,962	D
Stock Option (right to buy)	$7,682							(1)	02/28/2030	Common Stock	7,682		7,682	D

Explanation of Responses:

1. These stock options were issued to Dolly Varden Silver Corporation ("Dolly Varden") and assumed by the issuer as replacement stock options in connection with the issuer's acquisition of Dolly Varden. The stock options are fully vested.

	/s/ Mike Clark as Attorney in fact for Darren Devine	04/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Contango Silver & Gold (CTGO) director Darren Devine report in this Form 4?

Darren Devine reported exercising stock options to acquire 10,325 Contango Silver & Gold Common shares at $12.46 per share. This derivative exercise converted options into stock and increased his direct equity stake, without any reported open-market buying or selling in this filing.

How many Contango Silver & Gold (CTGO) shares does Darren Devine hold after the reported transactions?

After the reported option exercise, Darren Devine directly holds 49,471 shares of Contango Silver & Gold Common Stock. This reflects his post-transaction position as disclosed, giving investors a clearer view of his ongoing ownership interest in the company following the derivative conversion.

What stock options tied to Contango Silver & Gold (CTGO) does Darren Devine still hold?

Darren Devine retains fully vested stock options over Common Stock with exercise prices of $13.86, $14.74 and $7,682.00 per share, expiring between February 2027 and February 2030. These remaining options provide additional potential future share acquisitions if exercised.

Were the Contango Silver & Gold (CTGO) options exercised by Darren Devine fully vested?

Yes. The filing notes the stock options were fully vested, originally issued to Dolly Varden Silver Corporation and later assumed by Contango Silver & Gold. Fully vested options can be exercised immediately, meaning Devine was able to convert them into 10,325 Common shares at $12.46 per share.

Does this Contango Silver & Gold (CTGO) Form 4 show any open-market share sales by Darren Devine?

No. The Form 4 reflects a derivative exercise, where options were converted into 10,325 Common shares at $12.46, with no reported open-market sales. The transactions are classified as acquisitions through option exercise rather than discretionary buying or selling of existing Common Stock.