Exciting Developments in Contango Silver & Gold's 2026 Project Initiatives

Overview of Project Updates by Contango Silver & Gold

Contango Silver and Gold Inc. is making noteworthy progress with its projects in 2026, particularly focusing on the Lucky Shot and Johnson Tract initiatives. These ventures come amid a backdrop of strategic drilling programs and regulatory submissions, marking an exciting phase for the company as it strives to unlock the potential of its extensive mineral portfolio.

Lucky Shot Surface Drill Program

The company kicked off the Lucky Shot surface drill program on June 22, 2026, deploying two helicopter-supported drill rigs to initiate operations. This ambitious undertaking plans to drill a total of 29 holes across five platforms, covering an estimated 6,800 meters. The primary goal of this drilling campaign is to fill gaps in areas of known mineralization and to assess the structural connections between the Coleman and Lucky Shot vein systems.

Dave Larimer, Contango's Vice President of Exploration, expressed his excitement about the drilling program, highlighting its potential to assess the downdip extensions of the Coleman zone while obtaining critical infill data necessary for preparing a feasibility-level mine design. As results from these drills become available, they are expected to offer important insights into the mineral wealth of the site.

Johnson Tract Infrastructure and Permitting

Progress is also being made at the Johnson Tract project, where permitting for surface infrastructure is proceeding on schedule. With six key actions already completed, the company remains committed to transparent communication through the Federal Permitting Dashboard. To further support this, the Johnson Tract camp has been reopened for the summer season, facilitating extensive field activities aimed at gathering vital environmental and cultural baseline data. These include marine and freshwater quality assessments and mapping wetlands, among others.

In addition to the surveys, geotechnical drilling for the access road and barge landing facility is underway, as is the construction of a 2.6-mile access road on CIRI-owned land. All mobilizations of equipment through helicopters and barges are expected to continue through the summer, with construction activities likely extending until October 2026.

Rick Van Nieuwenhuyse, the company's CEO, emphasized how this operational phase is crucial for advancing the Johnson Tract project, particularly after joining the Federal FAST-41 program. He regards this period as transformative for Contango, focusing on environmental stewardship and infrastructure development to facilitate project advancement.

Kitsault Valley Drilling Endeavor

Simultaneously, the ongoing drilling program at Kitsault Valley has surpassed expectations with over 14,000 meters of drilling already completed. This project targets infill and extensional drilling efforts at various key locations including Torbrit and North Star. The first samples from these areas have been dispatched for analysis, with results anticipated to start coming in during the third quarter. The updated Mineral Resource Estimate for Kitsault Valley is scheduled for release by late July, further contributing to the company's knowledge base.

Shawn Khunkhun, the company’s President, conveyed optimism regarding their drilling efficiency, stating that they are ahead of schedule and equipped with strong visual indicators suggesting promising mineral continuity. The team is eager to continuously report assay results as they become available, indicative of their systematic approach to identifying resource expansion opportunities.

Hedge Contracts and Financial Updates

In a related financial update, Contango has successfully fulfilled its gold delivery obligations for its 2026 hedge contracts ahead of schedule. This achievement leaves the company with an estimated 15,000 ounces for upcoming delivery in the first half of 2027, broadening their exposure to potential high gold prices. Mike Clark, the CFO, noted the strategic importance of this move as they work towards eliminating remaining hedge obligations.

Upcoming Events

To provide further insights into these initiatives, Contango will host a conference call and webcast on June 24, 2026, featuring CEO Rick Van Nieuwenhuyse and President Shawn Khunkhun, inviting participants to engage in discussions concerning the project updates.

Conclusion

Contango Silver and Gold Inc. is navigating through an exciting 2026, marked by significant undertakings across its portfolio. With ongoing drilling programs and strategic project developments, the upcoming months promise to bring more groundbreaking updates as the company works diligently to unlock the full potential of its mineral assets.