#United States #Contango ORE #Fairbanks #Johnson Tract #Lucky Shot

Contango Ore Completes $50 Million Public Offering

Contango Ore, Inc. (NYSE American: CTGO), a notable player in the gold exploration sector, has successfully concluded its underwritten public offering, raising a total of $50 million. The formal announcement occurred on September 26, 2025, marking a pivotal moment for the company's ongoing projects.

The offering included 1,975,000 shares of common stock, priced at $20.00 per share and was primarily placed with two institutional investors. Additionally, a pre-funded warrant was granted for the purchase of 525,000 shares at a nominal price of $19.99 per share, expediting access to resources that will elevate Contango’s capabilities.

Strategic Use of Proceeds

The net proceeds from this public offering are earmarked for several crucial developments, particularly the Lucky Shot project and the Johnson Tract project. The Lucky Shot project is anticipated to advance toward a mine production decision within two years. Specifically, funds will facilitate extensive underground and surface drilling to enhance the operational outlook of the site.

Moreover, the Johnson Tract project, contingent upon acquiring the necessary permits, intends to mobilize all requisite equipment for road construction to the planned portal. The funds will also aid in winterizing the project's camp to conduct operations year-round, initiate construction on an exploration tunnel for advanced exploration drilling, and develop a feasibility-level mine plan. Ongoing permitting activities are crucial as the company evaluates the potential for mine construction.

An efficient underwriting process was conducted by Canaccord Genuity, acting as Sole Bookrunner. With Cormark Securities serving as Lead Manager and Maxim Group LLC, Roth Capital Partners, and Freedom Capital Markets as Co-Managers, the offering achieved significant backing and interest from notable financial entities.

Regulatory Compliance and Future Outlook

The public offering was conducted in accordance with an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). The registration statement, with the effective date of November 27, 2024, aligns the offering with stipulated regulatory frameworks, ensuring transparency and compliance in financial dealings.

The company emphasizes that any remaining proceeds after funding the abovementioned projects will be allocated to general corporate purposes and enhance working capital. This strategic allocation is positioned to support Contango's growth trajectory and sustain operational efficacy.

About Contango Ore

Contango Ore is primarily engaged in the exploration of gold and associated minerals in Alaska and possesses extensive land holdings to facilitate its operations. The company holds a 30% stake in the Peak Gold project, where exploration and development initiatives span approximately 675,000 acres. Contango also oversees several leases, including those for the Johnson Tract and Lucky Shot projects, positioning it favorably for future growth in the mining sector.

Their commitment to responsible and sustainable practices is evident in the ongoing advancements of projects which are designed to adhere to environmental stewardship and community engagement. By leveraging strong financial support derived from the public offering, Contango Ore aims to carve out a significant niche in the resource exploration industry.

As the company progresses with its projects, stakeholders can stay updated through the company’s website and SEC filings. Investors remain cautiously optimistic, aware of both the significant opportunities and inherent uncertainties that accompany mining ventures. With a robust strategy and solid backing, Contango Ore is set to navigate the challenges of the industry effectively.