Contango Silver & Gold Inc. Announces Drill Results from Lucky Shot Project

Contango Silver & Gold Inc. has announced significant gold intercepts from the initial phase of its underground diamond drilling program at the Lucky Shot Project in Alaska. The final assay results include a notable intercept of 0.17 meters grading 972.10 grams per tonne of gold, with visible gold observed. Additionally, the company has recommenced underground exploration development, with a contract miner advancing access and preparing future drill platforms. The drilling program, totaling approximately 6,020 meters across 65 holes, aimed to refine the understanding of the Lucky Shot vein system, including various subparallel vein structures. The company has updated its geological model based on these results, enhancing the understanding of the vein architecture and structural controls on mineralization. The next phase of work includes approximately 800 linear meters of underground excavation over five months to establish access for an additional 12,000 meters of drilling. This development is expected to support ongoing exploration and technical studies, potentially informing a Feasibility Study for a Direct Shipping Ore approach targeted for H1 2027. The company also reported other significant intercepts, including 5.30 meters grading 8.89 g/t gold. Contango plans to host a conference call to discuss these results.