Contango Announces Production Results for the Quarter Ended June 30, 2025

FAIRBANKS, Alaska, July 30, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE:CTGO) announces production results at the Peak Gold JV for the quarter ended June 30, 2025 ("Q2-2025") and provides other updates. The Company expects to release its financial results for Q2-2025 on August 13, 2025 followed by a webcast hosted by senior management on Thursday, August 14, 2025, at 1:00pm EST/10:00am PST.

Rick Van Nieuwenhuyse, President and CEO of the Company, stated, "Production during the second quarter of 2025 continued to exceed quarterly guidance with 17,764 ounces sold and cash costs of $1,416 per ounce of gold sold and all-in-sustaining costs ("AISC") of $1,548 of gold sold, well below the 2025 target of $1,625 per ounce. During the quarter we delivered 11,900 ounces to the hedge contract using the Carry Trade, effectively reducing our hedge balance to 62,900 ounces as of the date of this release."

Production Results for Q2-2025

Contango's Share (30% basis)

Q2-2025

YTD-2025

Gold ounces sold

17,764

35,146

oz

Silver ounces sold

15,472

28,242

oz

Recoverable gold inventory

750

750

oz

Total gold sales

$

58,157,337

109,384,105

Total silver sales

$

531,100

943,964

Remaining hedge balance, excluding Carry Trade

74,800

74,800

oz

Gold delivered into Carry Trade1 hedge contracts

11,900

11,900

oz

Remaining hedge balance, including Carry Trade

62,900

62,900

oz

Average realized spot gold price

$

3,274

3,112

per oz ...