Contango Announces $9.0 Million Cash Distribution from the Peak Gold JV and Update on 2026 Exploration Plans

About this update from Contango Silver & Gold Inc.

FAIRBANKS, Alaska, April 22, 2026 /CNW/ - Contango Silver & Gold Inc. ("Contango" or the "Company") (NYSE American: CTGO) (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. Conta...

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