Contango Starts Second Campaign of Gold Ore Processing at Kinross Fort Knox Mill in Alaska

Contango ORE, Inc. ("Contango" or the "Company") (NYSE:CTGO) is pleased to announce that the Peak Gold JV has started processing Campaign #2 of Manh Choh ore through the Kinross Fort Knox mill located near Fairbanks, Alaska.  Processing of ore for the Second Campaign started on August 27th and will continue into late September. In addition, the Company reported the following general corporate updates:

1. it received the 404 Wetlands Permit from the US Army Corps of Engineers (the "USCOE") to construct an access road from the Johnson Tract camp site to the proposed portal and laydown area;
2. it entered into a memo of understanding (the "MOU") with the Department of Natural Resources Office of Project Management and Permitting ("OPMP") to begin permitting the exploration portal and laydown area for the Johnson Tract project;
3. it has engaged SRK Consulting Canada Inc. ("SRK") to complete a Preliminary Economic Assessment for the Johnson Tract project using our Direct Shipping Ore ("DSO") approach; and
4. it has completed approximately 1,500 meters (5,000 ft.) or half of the planned 2024 surface drilling program at the Johnson Tract project and plans to complete the program, which remains on budget and schedule, by early October.