#United States #Contango ORE #Peak Gold JV #Fairbanks #Alaska Gold

Contango Ore Secures $50 Million Through Underwritten Stock Offering

FAIRBANKS, Ala., February 11, 2026 - Contango ORE, Inc. (NYSE American: CTGO) has announced a significant milestone in its capital strategy with the pricing of an underwritten offering of common stock. The company will issue 1,678,206 shares at a price of $24.96 per share, along with pre-funded warrants for 325,000 shares priced at $24.95 each. This strategic move is expected to generate approximately $50 million in gross proceeds before underwriting fees and other costs are considered.

The Offering’s projected closing date is on or around February 12, 2026, dependent on the completion of customary closing conditions. The majority of the net proceeds, around $45 million, will be allocated towards purchasing back gold hedge contracts. The remaining funds will be utilized for buying gold put contracts to provide downside protection, as well as for general corporate purposes, including essential working capital.

Contango Ore has appointed Canaccord Genuity as the Sole Bookrunner for this offering. Notably, this stock offering is structured under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”) which was declared effective on November 27, 2024. It allows Contango to sell these shares and pre-funded warrants only via a formal prospectus, which will soon be filed with the SEC and made accessible on its official website.

The announcement further solidifies Contango’s commitment to strengthening its financial positioning in light of expanding opportunities within the gold and mineral exploration sectors. This financial maneuver comes on the heels of the company's prior investments and ongoing projects, particularly focusing on the Peak Gold joint venture where it holds a 30% interest. This venture spans approximately 675,000 acres in Alaska’s Manh Choh project area, a partnership with KG Mining (Alaska), Inc., a subsidiary of Kinross Gold Corporation.

In addition to its involvement in the Peak Gold JV, Contango maintains a diverse portfolio of leases, including the Johnson Tract project and the Lucky Shot project, showcasing its expansive reach and ambition in mining and exploration. Contango’s ownership interests extend over 145,280 acres in Alaska, positioning it as a key player in the regional mining landscape.

Future Endeavors

This announcement highlights Contango’s strategic approach to capital allocation, aiming to bolster its operational capacity and safeguard its profitability against potential market fluctuations. By investing in gold contracts, Contango is proactively managing its risks while simultaneously preparing for upcoming projects that demand significant financial resources.

The successful closure of this offering will enhance Contango's footprint in the competitive landscape of gold mining, allowing it to pursue new opportunities in an industry that is constantly evolving. Investors and stakeholders alike view this move as a positive indication of Contango’s direction and vision for continued growth and advancement in the region.

For further details about this offering or to view the final prospectus once available, the public can refer to the official SEC website or reach out to Canaccord Genuity’s Syndication Department for assistance.

Conclusion

As Contango Ore moves forward with its promising undertakings, the $50 million offering represents a pivotal step in the company's quest to solidify its operations and explore new avenues for revenue generation in the gold and mineral mining sector.

For more updates and information on Contango Ore, visit contangoore.com.