Contango Silver & Gold Inc. · AMEX:CTGO
Contango Silver & Gold — Contango ORE — Investor Presentation (March 2025)
39 slides from Contango Silver & Gold's investor presentation, Mar 17, 2025
Slide 1: Corporate Presentation March 2025
NYSE-A:CTGO CORPORATE PRESENTATION CONTANGO Ox= GOLD SILVER CO PIPER MARCH 2025 WWW.CONTANGOORE.COM
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS The Feasibility Study (“FS”) referenced herein that relates to Peak Gold, LLC (“Peak Gold”), was prepared by Kinross Gold Corporation (“Kinross”), which controls the Manager of Peak Gold and holds 70% of its outstanding membership interests, in accordance with Canadian Nat
Slide 3: Building Alaska's Next Gold Mines
m4. * mot a CTO. fayCONTANCO OR 56605 GOL Deve R COPRPRER BUILDING ALASKA’S NEXT GOLD MIN ES | CONTANGO ORE IS AN Rebiican NEW YORK STOCK EXCHANGE tabs Ee MANH CHOH LUCKY SHOT = JOHNSON TRACT ’ P bs MINE MINE | © “PROJECT IN PRODUCTION : ” FULLY PERI TTED = 1M OZ GRADING 9.4G/T AU EQ PRODUCING “60,0
Slide 4: Company Profile and Capital Structure
COMPANY PROFILE CAPITAL STRUCTURE TRADING - NYSE AMERICAN: CTGO1 90-Day Avg. Daily Volume 100,000 shares per day 52-week range US$8.85 - $25.32 Market Cap $120 M *Russell 2000 Inclusion - June 26, 2023 CAPITAL STRUCTURE1 Issued & Outstanding 12.3 M Warrants 0.7 M Fully Diluted 13.0 M FINANCIAL POSIT
Slide 5: Alaskan Focused Portfolio Executing on Direct Ship Ore Model
FAIRBANKS ANCHORAGE ALASKAN FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) FORT KNOX MILL (Kinross) Early-Stage Exploration Advanced Stage Exploration (Reserves/Resources) Production MANH CHOH MINE (30%)1 Production started Q3 2024 1Moz resource with exploration upside ~60,000 GEO in
Slide 6: Manh Choh – A DSO Success
MANH CHOH – A DSO SUCCESS CONTANGO’S FLAGSHIP PROJECT – COMMERCIAL PRODUCTION AS OF JULY 2024 2024 41,325 oz Gold $40.5M USD distribution *Images used with permission from Kinross IN PRODUCTION On schedule and on budget Permits and construction completed in under 2 years 3 years to production from f
Slide 7: Manh Choh Mine 2024 Production Statistics & 2025 Guidance
MANH CHOH MINE 2024 PRODUCTION STATISTICS & 2025 GUIDANCE 1. As reported in Year End 2024 news release dated March 17, 2025 “Contango Announces Earnings for the Year Ended December 31, 2024”
Slide 8: Manh Choh Mine 2025 & LOM Guidance
MANH CHOH MINE 2025 & LOM GUIDANCE 1 See Contango’s SK1300 Manh Choh Technical Report Press Release dated May 26, 2023; Initial capex reflects the Kinross feasibility study reported in “Q2 Corporate Update ” Press Release and Corporate Presentation dated July 26 and 27, 2022; The optimization for th
Slide 9: Well Positioned Compared to Peers: AISC
WELL POSITIONED COMPARED TO PEERS LOWER QUARTILE AISC AMONG PEER GROUP Source: Company Materials, brokers’ estimates Note: Based on average of brokers’ estimates unless otherwise noted Shown on an LTM basis, as of Q3-24 Based on mid-point of management guidance Shown on a by product basis 2025E AISC
Slide 10: Well Positioned Compared to Peers: Operating Cash Flow per Share
WELL POSITIONED COMPARED TO PEERS PROJECTED ANNUAL OPERATING CASH FLOW PER SHARE (2025E; US$/SHARE) Source: Company Materials, brokers’ estimates Note: As of February 18, 2025 Based on Contango’s 2025E attributable revenue (@ US$2,800/oz) less 2025E AISC and adjusted for hedge losses, divided by Con
Slide 11: Manh Choh Mine Attractive Economics as Non-Operating Partner
MANH CHOH MINE ATTRACTIVE ECONOMICS AS NON-OPERATING PARTNER 2024 Summary and 2025 Guidance 2024 production statistics: 41,325 ounces; +30% greater than guidance Paid down credit facility to $38.3 million by end of January 2025 Hedge position reduced by 30% to a remaining balance of 86,739oz 2025 pr
Slide 12: 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 Minimal water and wetlands impact Simple mining/processing Private and State lands 2020/2021 2022 2023 2024 JV with
Slide 13: Alaskan Focused Portfolio Executing on Direct Ship Ore Model
FAIRBANKS ANCHORAGE ALASKAN FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) FORT KNOX MILL (Kinross) Early-Stage Exploration Advanced Stage Exploration (Reserves/Resources) Production MANH CHOH MINE (30%)1 LUCKY SHOT MINE (100%) 1 Current resource: 110,000 GEO at 14.5 g/t Fully permit
Slide 14: Lucky Shot – Our Next DSO Project
LUCKY SHOT – OUR NEXT DSO PROJECT FOCUSED ON RESOURCE EXPANSION OVER THE NEXT 2-3 YEARS DEVELOPMENT Historically producing district: 250,000 ozs averaging 40 g/t Au Mesothermal quartz vein with free gold +1 mi (1.6 km) strike length Contango controls entire district Underground is fully refurbished
Slide 15: Lucky Shot – Potential of 400,000 to 500,000 GEO
LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO PATENT CLAIMS COLEMAN VEIN LUCKY SHOT VEIN COLEMAN ADIT ENSERCH TUNNEL LUCKY SHOT ADIT LOOKING NORTH FISHHOOK-WILLOW CREEK RD
Slide 16: Lucky Shot Development: Planned Infill Drill Program
LUCKY SHOT – OUR NEXT DSO PROJECT POTENTIAL OF 400,000 to 500,000 GEO LUCKY SHOT DEVELOPMENT Planned 15,000m in-fill drill program for resource definition OBJECTIVES: Define high-grade “ore shoots” Delineate 400,000 to 500,000 GEO Collect data for detailed mine plan Targeting 30,000 to 40,000 initia
Slide 17: Lucky Shot – Willow Creek District Scale Opportunity
LUCKY SHOT – WILLOW CREEK DISTRICT SCALE OPPORTUNITY DEVELOPMENT Historic High-Grade Gold Mining District Initial Discoveries 1890’s 20+ Historic Mines and Prospects Relatively “unmined” since 1942 Mesothermal, shear hosted quartz +Au veins LUCKY SHOT Lucky Shot ore with visible gold Coleman
Slide 18: Alaskan Focused Portfolio Executing on Direct Ship Ore Model
FAIRBANKS ANCHORAGE ALASKAN FOCUSED PORTFOLIO EXECUTING ON OUR DIRECT SHIP ORE MODEL (DSO) FORT KNOX MILL (Kinross) Early-Stage Exploration Advanced Stage Exploration (Reserves/Resources) Production LUCKY SHOT MINE (100%) 1 Current resource: 110,000 GEO at 14.5 g/t Fully permitted for mining & on ro
Slide 19: Johnson Tract Development
JOHNSON TRACT DEVELOPMENT Robust grades + thickness ~1.1M oz @ 9.4 g/t GEO 40m true width Located on the coast Marine transport is lowest form of bulk transport Private land owned by CIRI Corporation Ideal for low-cost underground mining Subvertical Bulk-mining widths Ramp access Bottom-up/gravity a
Slide 20: Johnson Tract Permitting Underway
JOHNSON TRACT PERMITTING UNDERWAY – PORTAL, ROAD, AND PORT EASEMENT JOHNSON TRACT DEVELOPMENT Permitting Underground tunnel Site ongoing with State of Alaska DNR Office of Project Management and Planning (OPMP) CIRI Received Right-of-Way Easements for Access Road and Port Facilities Programmatic Agr
Slide 21: Johnson Tract Private Surface Rights
JOHNSON TRACT PRIVATE SURFACE RIGHTS (CIRI OWNERSHIP) WIDE FLAT VALLEY WITH MINIMAL WETLANDS JOHNSON TRACT DEVELOPMENT Valley is well suited for infrastructure 50-man camp 290 DDH: +83,000m drilled 2024 Program Focused On: Infill drilling at resource Hydrological testing Geotechnical testing Metallu
Slide 22: Johnson Tract Underground Ramp Plan
JOHNSON TRACT JOHNSON TRACT DEVELOPMENT Potential for short lateral UG ramp to base of the Johnson Tract Deposit Gravity assist, bottom-up mining Highest grade accessed first Exploration/Development tunnel to target >1.5 km mineralized trend Infill drilling from underground to support resource upgra
Slide 23: Johnson Tract Attractive Attributes for Underground Mining
JOHNSON TRACT ATTRACTIVE ATTRIBUTES FOR UNDERGROUND MINING ROBUST GRADES AND 40m TRUE WIDTHS PLAN VIEW LOOKING NORTHWEST PROPOSED JT TUNNEL JT BLOCK MODEL JOHNSON TRACT DEPOSIT PROPOSED JT TUNNEL NORTH (G/T)
Slide 24: Johnson Tract Robust Grades with Thick Intercepts
JOHNSON TRACT ROBUST GRADES WITH THICK INTERCEPTS; GREAT METALLURGY & IDEAL FOR UNDERGOUND MINING METHODS 108.6 m of 10.4 g/t Au, 7.6% Zn, 0.7% Cu, 2.0% Pb and 8 g/t Ag 71.4 m of 20.9 g/t Au, 9.8% Zn, 0.9% Cu, 1.6% Pb, and 9 g/t Ag 99.7 m of 10.1 g/t Au, 6.7 g/t Ag, 0.9% Cu, 1.3% Pb, and 6.3% Zn 137
Slide 25: Johnson Tract Exploration Upside – New Geophysical Targets
Ellis Zone discovery 4km NE of JT Deposit 578 g/t Au and 2,023 g/t Ag over 6.4 m JOHNSON TRACT EXPLORATION UPSIDE – NEW GEOPHYSICAL TARGETS 2023 geophysical survey defines 12km (7.5 mi) mineral trend Geophysics, geochemistry and geology define Distinct +10km long epithermal/VMS trend Two potential i
Slide 26: Contango's Development Pipeline
CONTANGO’S DEVELOPMENT PIPELINE Focused on three Advanced-Stage Exploration Projects to support 200,000 GEO production MANH CHOH LUCKY SHOT JOHNSON TRACT Fully permitted and producing gold Permits received in less than 2 years Built on time and on budget First gold pour on July 8, 2024 2025 ~60,000
Slide 27: Building Our ESG Framework
BUILDING OUR ESG FRAMEWORK DEVELOPING OUR STRATEGY AROUND OUR BUSINESS MODEL AND CORE VALUES BUILT ON OUR FUNDAMENTAL DSO CRITERIA High-grade resources Gold, Silver, Copper focus Near Infrastructure Road Rail Water Simple permitting from a mining perspective Minimal water and wetlands impact Simple
Slide 28: Contango's DSO Model
CONTANGO’S DSO MODEL By identifying Opportunities with “Orphan Projects” that fit Contango’s DSO Criteria, we can build value for shareholders quicker than the traditional business model 1990’s NOW 5 YEARS 10-20 YEARS ORPHAN PERIOD
Slide 29: Contango's Corporate Strategy
CONTANGO’S CORPORATE STRATEGY 5 YEAR EXECUTION STRATEGY: TO BECOME A MID-TIER GOLD PRODUCER MANH CHOH MINE (30%)1 LUCKY SHOT MINE (100%) 1 JOHNSON TRACT PROJECT (100%) 1 CONTANGO’S 5-YEAR STRATEGY TO CREATE A 200,000 GEO/YEAR ALASKA PRODUCER USING A DSO APPROACH FOR HIGH QUALITY PROJECTS 1. Reserve
Slide 30: Thank You
THANK YOU 31 Corporate Inquires: info@contangoore.com +1-907-888-4273 www.contangoore.com Twitter: @orecontango LinkedIn: Contango ORE Instagram: ContangoORE Facebook: Contango ORE QUESTIONS?
Slide 31: Non-GAAP Reconciliation Disclaimer
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 cannot
Slide 32: Manh Choh Regional Exploration
MANH CHOH REGIONAL EXPLORATION: 675,000 acres Leased from Tetlin Tribe Continuing reconnaissance sampling in the southern target zones Grid soil sampling in gridded target zones 2024 REGIONAL PLAN MANH CHOH 1km2
Slide 33: Johnson Tract Deposit Geology: Hybrid Epithermal-VMS Model
JOHNSON TRACT DEPOSIT GEOLOGY: HYBRID EPITHERMAL-VMS MODEL Pueblo Viejo and Romero deposits in Dominican Republic are good analogues Sub-marine High-Sulfidation Epithermal/Porphyry systems with some VMS characteristics – telescoped system Dacite Quartz Porphyry Qtz-eye Dacite Andesite Cross-section
Slide 34: Contango's Reserves and Resources
CONTANGO’S RESERVES AND RESOURCES CONTINUED ON NEXT PAGE Notes: Manh Choh Reserves 1. Published from Contango Contango 10K. Reserves current as of 31 December 2024. 2. The definitions for Mineral Resource in S-K 1300 were followed for Mineral Resources. 3. Mineral Reserves were estimated at long ter
Slide 35: Contango's Reserves and Resources
CONTANGO’S RESERVES AND RESOURCES Notes: Lucky Shot Resources 1. Mineral Resources were estimated as of 26 MAY 23 under definitions for Mineral Resources in S-K1300. See TRS Lucky shot Project Alaska, USA. 2. Mineral resources are estimated using long term prices of US$1,600/oz Au price. 3. Mineral
Slide 36: 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 SHAMROCK, ALASKA (RICHARDSON DISTRICT) AMANITA, ALASKA (FAIRBANKS DISTRICT) GOLDEN ZONE, CENTRAL ALASKA 64,900 acres of State of A
Slide 37: Contango Management
CONTANGO MANAGEMENT Mr. Van Nieuwenhuyse was appointed to serve as President, Chief Executive Officer, and director of the Company effective January 6, 2020. He previously served as President and Chief Executive Officer of Trilogy Metals Inc. from January 2012 until December 2019. Between May 1999 a
Slide 38: Contango Directors
CONTANGO DIRECTORS Co-founder of Contango Ore Chairman since 2013 Sole Manager of Juneau Exploration – a company involved in the exploration and production of oil and natural gas Petroleum Engineer with years of experience at Zilkha Energy Company, Texas International Company, Enserch Corporation, C
Slide 39: Meet the Contango Team
MEET THE CONTANGO TEAM Chris Kennedy General Manager – Lucky Shot Mine Dave Larimer Exploration Manager Nathan Steeves Johnson Tract Chief Geologist Allegra Cairns Environment and Permitting Manager Alina Wyatt Lands and Database Manager Vanessa Larimer Community Affairs & Operations Manager Shayne