Contango Intersects 506 g/t AgEq over 13.90 Meters at Torbrit and 807 g/t AgEq over 4.96 Meters at North Star Infill and Expansion Drilling

Contango Silver & Gold Inc. (CTGO) has released initial 2026 assay results from its Kitsault Valley Project in British Columbia, covering the Torbrit and North Star silver deposits. The company reports that 34 holes have been completed across these two targets, with a broader program comprising 32 holes at Torbrit and 21 at North Star and its connection zones. Most assays from this program remain pending.

The headline intercepts reported are downhole core lengths, with estimated true widths stated at 80% to 95% of core length, though these figures are not yet finalized. Key intervals at Torbrit include hole DV26-480, which returned 25.00 m at 304 g/t AgEq, including 13.90 m at 506 g/t AgEq and 2.30 m at 881 g/t AgEq. Hole DV26-488 returned 5.54 m at 272 g/t AgEq plus 2.00 m at 1,576 g/t AgEq, including 0.98 m at 2,878 g/t AgEq. Additionally, DV26-515 returned an upper zone of 33.50 m at 262 g/t AgEq with lens A at 6.70 m at 436 g/t and lens B at 17.00 m at 294 g/t, plus a lower zone of 66.35 m at 165 g/t AgEq.

At North Star, key intervals include DV26-494, which returned 4.96 m at 807 g/t AgEq, including 1.00 m at 2,254 g/t AgEq. The company states that systematic step-out drilling has confirmed a mineralized zone connecting Torbrit and North Star, although assays for the specifically named connection holes DV26-551, DV26-548, and DV26-545 are still pending. Contango notes that none of the 2026 drilling is included in the imminent Mineral Resource Estimate update scheduled for release later this month.

Contango Silver & Gold Inc. (CTGO) is not a pure micro-cap explorer; it is a producer with cash flow from the Manh Choh mine and a broader portfolio that includes the Lucky Shot, Johnson Tract, and Kitsault Valley projects. The Kitsault Valley property already holds meaningful silver resources, comprising approximately 34.7 million ounces of silver in the Measured and Indicated category and 29.3 million ounces of inferred silver, along with gold resources.

The recent release does not alter reserves or near-term mineral resources, as the 2026 drill results are excluded from the Mineral Resource Estimate update scheduled for later this month. However, the grades are strong, and the claimed connection between Torbrit and North Star is strategically significant, making the news more than routine infill drilling. The stock has not rallied into this result, having fallen from $29.00 on August 19 and $27.49 on September 8 to $25.95 on September 14, indicating the market was not pricing in a blowout. There is no directly comparable prior 2026 Torbrit or North Star anchor in the supplied history, so the result is not measured against an already embedded high-grade anchor.

Contango Silver & Gold Inc. (NYSE American: CTGO; TSX: CTGO) is a gold and silver company with operations and projects in Alaska and British Columbia. Its portfolio includes the Manh Choh operating mine, held through a 30% interest in the Peak Gold Joint Venture, with a Kinross subsidiary holding the remaining 70%. The company also owns the Lucky Shot high-grade gold project in Alaska, which is advancing toward a feasibility study, and the Johnson Tract high-grade gold project in Alaska, where FAST-41 permitting and infrastructure work are underway. Additionally, Contango owns the Kitsault Valley silver-dominant project in British Columbia, acquired through the Dolly Varden transaction, which is the subject of this release.

As of June 30, 2026, the company reported $89 million in cash. The presentation also lists debt of $43.6 million and a $20 million convertible debenture. The company has stated hedges are nil after converting the remaining hedge book into debt.