Contango ORE, Inc. Announces Board Changes and Upcoming Stockholders Meeting

Contango ORE, Inc., known as "Contango", has revealed significant updates regarding its board of directors and the upcoming Annual Meeting of Stockholders. This announcement was officially made on April 17, 2025, detailing the nomination of two new independent directors, along with the logistics for the upcoming shareholder meeting.

New Board Nominees

The company has decided to nominate Michael Cinnamond and Clynton Nauman to join the Board of Directors. This move comes after a careful recommendation from the company’s Nominating and Corporate Governance Committee. Michael Cinnamond currently serves as the Senior Vice President of Finance and Chief Financial Officer at B2Gold Corp, a prominent mining company boasting a market capitalization of over $4 billion. His financial expertise is expected to significantly benefit Contango's Board. In addition, Clynton Nauman brings over 45 years of mining experience, including many years of operating mines internationally, particularly in regions such as Alaska and Yukon.

Departures from the Board

In contrast, two board members, Joe Compofelice and Curtis Freeman, will not be seeking re-election. Mr. Compofelice has been an integral part of Contango since 2010, while Mr. Freeman joined the Board in 2022. Their decision to step down comes without any disagreements over the company’s operations or strategies, demonstrating a smooth transition in leadership. Brad Juneau, Contango's Chairman, expressed gratitude towards both departing directors for their dedication in advancing the Manh Choh project from a concept to a producing mine. He remarked on their invaluable contributions and commitment to enhancing shareholder value.

Upcoming Annual Meeting Details

The Annual Meeting of Stockholders is scheduled to take place virtually on June 10, 2025, at 10:00 AM Central Time. Shareholders will receive detailed notices along with proxy materials starting from April 29, 2025, focused on those who were shareholders as of April 11, 2025. This meeting presents an essential opportunity for stockholders to engage in company governance, understand future directions, and approve crucial board nominations.

Important Deadlines for Stockholder Proposals

Given that there was no Annual Meeting in 2024, the company is adhering to the guidelines outlined in the Securities Exchange Act of 1934. Stockholders who wish to submit proposals for consideration must ensure that the correct documentation is submitted to the Corporate Secretary at Contango's Fairbanks office by the close of business on April 28, 2025. This applies for proposals aimed for inclusion in the proxy materials as per Rule 14a-8 of the Exchange Act. Moreover, the bylaws of the company stipulate that any business or nominations not covered under this rule also need timely communication to the Corporate Secretary, which adds another layer of diligence required from the shareholders.

About Contango ORE, Inc.

Contango ORE, Inc. is primarily dedicated to the exploration of gold and other associated minerals in Alaska. The company notably maintains a 30% stake in the Peak Gold Joint Venture (JV), which encompasses approximately 675,000 acres designated for exploration and development efforts on the Manh Choh project. The remaining 70% interest in this project is held by KG Mining (Alaska), Inc., a subsidiary of Kinross Gold Corporation, which operates the Peak Gold JV. Additionally, Contango holds leases on several projects, including the Johnson Tract and Lucky Shot, and has secured ownership of numerous mining claims throughout Alaska. For more information, shareholders and interested parties can visit Contango ORE's official website.

Conclusion

Contango ORE, Inc.’s strategy of refreshing its Board of Directors with experienced leaders aligns with its vision for future growth and stability within the mining industry. As the company looks to engage with its shareholders in the upcoming meeting, the anticipated discussions around its projects and future directions will be pertinent for all stakeholders involved.