Contango Silver & Gold Inc. · AMEX:CTGO
Contango Silver & Gold — Investor Presentation (April 2026)
35 slides from Contango Silver & Gold's investor presentation, April 2026
Slide 1: Corporate Presentation April 2026
NYSE-A/TSX: CTGO CO R P O R AT E P R ES E N AT I O N APRIL 2026 WWW.CONTANGO.COM
Slide 2: Disclaimer
DISCLAIMER FORWARD-LOOKING STATEMENTS AND INFORMATION This presentation contains "forward-looking statements" within the meaning of applicable United States securities legislation (collectively referred to as "forward-looking information" ("FLI")), and readers should read the cautionary notes relate
Slide 3: NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
2 NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 4: North American Silver & Gold Producer
NORTH AMERICAN SILVER & GOLD PRODUCER TOTAL RESOURCES ~2 Moz Au Gold ~65 Moz Ag Silver $600M $100M $100M+ NYSE / TSX Fairbanks AK 2025 FREE CASH MARKET CAP CASH ON HAND DUAL LISTED HEADQUARTERS FLOW NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM 3
Slide 5: Complementary High-Grade Asset Portfolio
COMPLEMENTARY HIGH-GRADE ASSET PORTFOLIO Asset Diversification, Increased Scale and Significant Exposure to Gold and Silver in Neighbouring Tier I Jurisdictions Resources & Grade Manh Lucky Johnson Homestake5 Dolly Varden5 Choh1,2 Shot3 Tract4 - - - - Reserve (koz AuEq) 194 M&I (koz AuEq) 22 106 1,0
Slide 6: Undervalued Relative to Peer Group
UNDERVALUED RELATIVE TO PEER GROUP Positioned for Re-Rating: Significant NAV Discount with Unmatched Upside Potential Source: Company Materials, brokers’ estimates as of April 2026 NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 7: Highly Leveraged to Silver & Gold
HIGHLY LEVERAGED TO SILVER & GOLD Source: Company Materials, brokers’ estimates as of April 2026 NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 8: Highly Leveraged to Silver & Gold: Grade Is King
HIGHLY LEVERAGED TO SILVER & GOLD GRADE IS KING Source: Company Materials, brokers’ estimates as of April 2026; Calculated at spot Au & Ag prices, excludes base metal credits NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 9: Contango's Five Year Development Pipeline: +3X Growth Profile
CONTANGO’S FIVE YEAR DEVELOPMENT PIPELINE +3X GROWTH PROFILE Fully Funded to Execute Fastest Gold Producing Growth Profile in the Industry • Lucky Shot online: target ~40,000 to 50,000 GEO annually • Lucky Shot + Johnson Tract + • Manh Choh 60,000oz annual production • UG development, resource def
Slide 10: Cash Flow Funded Growth Engine
CASH FLOW FUNDED GROWTH ENGINE Utilizing Manh Choh Cash Flow to Drive Near-Term Execution Catalyst Rich Portfolio of Advanced Exploration-Stage Assets Supported by Cash Flows from Manh Choh Production Go-Forward Development Timeline 2026 2027 2028 2029+ • 40,000m drill program + baseline env. • Adva
Slide 11: Strong Capital Markets Profile
STRONG CAPITAL MARKETS PROFILE CAPITAL STRUCTURE Dual Listing Ownership2,3 TRADING - NYSE AMERICAN: CTGO1 90-Day Avg. Daily Volume ~395,000 shares per day 52-week range US$9.22 - $34.38 Market Cap $658M *Russell 2000 Inclusion - June 26, 2023; GDXJ Inclusion – Sept 19, 2025 ~45% ~45% CAPITAL STRUCTU
Slide 12: Leadership Team
LEADERSHIP TEAM Proven Leadership Team with a Demonstrated Track Record of Value Creation in the North American Mining Sector Rick Van Nieuwenhuyse Shawn Khunkhun Michael Clark CEO & Director President & Director CFO 20+ years of experience in 40+ years of experience in the 20+ years of experience i
Slide 13: Company Portfolio Overview
COMPANY PORTFOLIO OVERVIEW NYSE-A: CTGO WWW.CONTANGO.COM
Slide 14: Precious Metals Focused Portfolio
PRECIOUS METALS FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) MANH CHOH MINE (30%)1 • Production started Q3 2024 • 1Moz resource with exploration upside • Avg LOM ~60,000 GEO 2,3 • Plan to be hedge and debt free by end of 2026 • Est. 2026 annual production of ~40,000 - 45,000 GEO2,3
Slide 15: What Is the Direct Shipping Ore (DSO) Approach?
WHAT IS THE DIRECT SHIPPING ORE (DSO) APPROACH? Drill & Muck at Load & Weigh at Mine Site Mine Site Transport via Rail/Road/Barge • Ore mined underground • Containers loaded and weighed at • Ore containers are transferred to Rail/Barge • Loaded into covered/sealed mine site • Transported to off-site
Slide 16: Manh Choh Mine: Success of DSO Approach
MANH CHOH MINE CTGO SUCCESS OF DSO APPROACH DSO CRITERIA • High-grade resources • Gold, Silver, Copper focus • Near Infrastructure • Road • Rail • Water • Simple permitting from a mining perspective • Private and State lands • Minimal water and wetlands 2024 impact Ore stockpiled at Manh Choh and •
Slide 17: Manh Choh Mine: Demonstrated DSO Success
MANH CHOH MINE – DEMONSTRATED DSO SUCCESS • Manh Choh to Fort Knox 240 mi • Kinross is operator (70% owner) • On schedule and on budget • State and Federal permits received within 18 months • Construction and Ramp Up completed in 2 years • First gold pour in July 2024 • Contract mining & trucking
Slide 18: Precious Metals Focused Portfolio
PRECIOUS METALS FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) MANH CHOH MINE (30%)1 • Production started Q3 2024 • 1Moz resource with exploration upside • Avg LOM ~60,000 GEO 2,3 • Plan to be hedge and debt free by end of 2026 • Est. 2026 annual production of ~40,000 - 45,000 GEO2,3
Slide 19: Lucky Shot – Our Next DSO Project
LUCKY SHOT – OUR NEXT DSO PROJECT FOCUSED ON RESOURCE EXPANSION DURING 2026; DEVELOPMENT IN 2027 FEASIBILITY UNDERWAY Lucky Shot Fault Caps Fault Looking NNE • Historically producing district: 250,000 ozs averaging 40 g/t Au • Mesothermal quartz vein with free gold Coleman Adit • +1 mi (1.6 km) st
Slide 20: Lucky Shot – Our Next DSO Project
LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO FEASIBILITY UNDERWAY Planned 18,000m in-fill and expansion drill program for resource definition OBJECTIVES: • Define high-grade “ore shoots” • Delineate 400,000 to 500,000 GEO measured and indicated resource • Collect data for de
Slide 21: New Discovery – Keith Miles Vein (KM)
NEW DISCOVERY – KEITH MILES VEIN (KM) Plan View Current and Planned Lucky Shot Underground Development 2300E (Planned) High Grade KM Vein 2280W (Planned) • 5.92m @ 60.24 g/t Au • 0.31m @ 99.75 g/t Au Enserch Drift • 1.5m @ 59 g/t Au LSU26036 LSU26031 • Close-in opportunity to define 1.9m @ 8.29 g/t
Slide 22: Precious Metals Focused Portfolio
PRECIOUS METALS FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) MANH CHOH MINE (30%)1 • Production started Q3 2024 • 1Moz resource with exploration upside • Avg LOM ~60,000 GEO 2,3 • Plan to be hedge and debt free by end of 2026 • Est. 2026 annual production of ~40,000 - 45,000 GEO2,3
Slide 23: Johnson Tract
JOHNSON TRACT PRIVATE SURFACE RIGHTS (CIRI OWNERSHIP) WIDE FLAT VALLEY WITH MINIMAL WETLANDS PERMITTING/DEVELOPMENT • Valley is well suited for infrastructure • 50-man camp • 290 DDH: +83,000m drilled • 404 Wetlands permit issued for Road to Portal site in August 2024 • Federal permitting under FAST
Slide 24: Johnson Tract
JOHNSON TRACT ATTRACTIVE ATTRIBUTES FOR UNDERGROUND MINING ROBUST GRADES AND 40m TRUE WIDTHS JOHNSON TRACT DEPOSIT 23 NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 25: Johnson Tract Initial Assessment
JOHNSON TRACT INITIAL ASSESSMENT ROBUST ECONOMICS WITH 1 YEAR PAYBACK JOHNSON TRACT INITIAL ASSESSMENT1 • Pre-Tax net present value discounted at 5% (NPV5) of USD $359.0 million • Pre-Tax Internal Rate of Return (IRR) of 37.4% • Post-Tax NPV5 of USD $615.4 million with a post-tax IRR of +60% at $4,0
Slide 26: Precious Metals Focused Portfolio
PRECIOUS METALS FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) MANH CHOH MINE (30%)1 • Production started Q3 2024 • 1Moz resource with exploration upside • Avg LOM ~60,000 GEO 2,3 • Plan to be hedge and debt free by end of 2026 • Est. 2026 annual production of ~40,000 - 45,000 GEO2,3
Slide 27: Cornerstone in the Golden Triangle, BC
CORNERSTONE IN THE GOLDEN THE OPPORTUNITY TRIANGLE, BC Supportive First Nations partnerships providing certainty Established infrastructure enabling cost- effective development Significant glacial retreat has opened up new areas for exploration Rising metal prices fuelling renewed exploration and in
Slide 28: Kitsault Valley Project
KITSAULT VALLEY PROJECT HIGHLIGHTS • 163 Km2 Land Position • ~65 M oz silver and ~1 Moz gold resources defined • Avg ~ 300 g/t Ag • New Mineral Resource Estimate due in Q2 2026 FIVE MAIN DEPOSITS: • Homestake Ridge • Homestake Silver • Wolf • Dolly Varden Mine • Torbrit 2026 PROGRAM • New Mineral Re
Slide 29: The Contango Value Proposition: High Margin, High Torque, Proven Results
The Contango Value Proposition: High Margin, High Torque, Proven Results Creating a North American Mid-Tier Precious Metals Company Tier 1 Low-Risk Tier 1 Alaska & British Columbia operations minimize geopolitical risk while ensuring Jurisdictions streamlined permitting (FAST-41) Self-Funded Targeti
Slide 30: Corporate Inquiries
CORPORATE INQUIRIES 29 info@contangoore.com +1-907-888-4273 www.contango.com Twitter: @orecontango LinkedIn: Contango ORE Instagram: ContangoORE Facebook: Contango ORE NYSE-A / TSX: CTGO NYSE-A: CTGO | TSX: CTGO | WWW.CONTANGO.COM
Slide 31: Non-GAAP Reconciliation Disclaimer
30 NON-GAAP RECONCILIATION DISCLAIMER This presentation contains forward looking estimates of all-in sustaining cost (“AISC”), resources, free cash flow and EBITDA, which are financial measures not determined in accordance with United States generally accepted accounting principles (“GAAP”). We cann
Slide 32: Building Our ESG Framework
BUILDING OUR ESG FRAMEWORK DEVELOPING OUR STRATEGY AROUND OUR BUSINESS MODEL AND CORE VALUES Defining the pillars BUILT ON OUR FUNDAMENTAL DSO CRITERIA • High-grade resources • Gold, Silver, Copper focus Social - safety of our people and our communities, valued partnerships with Alaskan Natives
Slide 33: Contango's Reserves and Resources
CONTANGO’S RESERVES AND RESOURCES Contango Owned Reserves Notes: Manh Choh Reserves Au Au Ag Ag AuEq 1 - Published from Contango 10K. Reserves Current as of TONNES Cu Cu Pb Pb Zn Zn AuEq PROJECT CLASSIFICATION Grade Ounces Grade Ounces Ounces 31DEC25 (000) (%) (M Lb) (%) (M Lb) (%) (M Lb) (g/t) (g/t
Slide 34: Contango's Reserves and Resources
CONTANGO’S RESERVES AND RESOURCES Au Au Ag Ag AuEq TONNES Cu Cu Pb Pb Zn Zn AuEq PROJECT CLASSIFICATION Grade Ounces Grade Ounces Ounces (000) (%) (M Lb) (%) (M Lb) (%) (M Lb) (g/t) (g/t) (000) (g/t) (000) (000) Manh Choh Inferred - 3.2 - 9.2 - - - Lucky Shot Inferred 82 9.5 25 9.5 25 Johnson Tract
Slide 35: Contango's Early-Stage Exploration Portfolio
CONTANGO’S EARLY-STAGE EXPLORATION PORTFOLIO ALL ALONG THE ALASKAN ROAD SYSTEM EAGLE, NW OF MANH CHOH ALASKA HONA, NW OF MANH CHOH ALASKA TRIPLE Z, E OF MANH CHOH ALASKA • 64,900 acres of State of Alaska Mining claims • Located immediately adjacent to Eagle block • 95 State mining claims, encompassi
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