Contango Ore

Canaccord Genuity Acted as Sole Bookrunner to Contango ORE, Inc. on its $50 Million Registered Direct Offering

Canaccord Genuity is pleased to announce that on February 11th, 2026, its client, Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO), priced an underwritten registered direct offering of 1,678,206 shares of its common stock, at an offering price of $24.96 per share to two institutional investors. In the Offering, Contango also offered a pre-funded warrant to purchase 325,000 shares of its common stock at a purchase price of $24.95 per share, which equals the public offering price per share of the common stock less the $0.01 exercise price per share of each pre-funded warrant. The closing of the Offering is expected to occur on February 12, 2026, subject to the satisfaction of customary closing conditions.

Aggregate gross proceeds from the Offering will be approximately $50 million. The Company intends to use approximately $45,000,000 of the net proceeds to buy back gold hedge contracts and approximately $700,000 of the net proceeds to buy gold put contracts for downside protection. Any remaining proceeds will also be used for general corporate purposes, including working capital.

Canaccord Genuity acted as sole bookrunner for the Offering.

Contango is a NYSE American listed company that engages in exploration for and development of gold and associated minerals in Alaska. Contango holds a 30% interest in Peak Gold, LLC (the “Peak Gold JV”), which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. The Company and its subsidiaries also have (i) a lease on the Johnson Tract project from the underlying owner, Cook Inlet Region, Inc.; (ii) a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc.; (iii) a 100% interests held through it wholly owned subsidiary Contango Minerals Alaska, LLC in approximately 145,280 acres of State of Alaska mining claims; and (iv) a 100% interest held through its wholly owned subsidiary Avidian Gold Alaska Inc. in approximately 11,711 acres of State of Alaska mining claims and leases, including a lease of approximately 3,380 acres at Amanita.