FAIRBANKS, Ala., Nov. 13, 2025 /PRNewswire/ – Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) introduced these days that it filed with the Securities and Alternate Fee its Mode 10-Q for the quarter ended September 30, 2025 (“Q3-2025”).

Rick Van Nieuwenhuyse, President and CEO of the Corporate, said, “Production during the third quarter of 2025 continued to exceed quarterly guidance with record high income of $25 million from operations and adjusted net income[1] of $24.9 million. The Company ended the quarter with $107 million in cash. During the quarter, 16,669 ounces of gold were sold with cash costs per ounce sold of $1,402 and all-in-sustaining costs of $1,597 per ounce sold – below the 2025 target of $1,625 per ounce. The fourth campaign of 2025 is scheduled to commence on November 19, 2025. We expect the last campaign of the year to be lower than the previous three due to the short run time of the last batch of the year and the onset of winter operating conditions. We are guiding to between 6,000 and 8,000 gold ounces for Contango’s 30% share of Q4 production. However, to this we will add the test batch of Manh Choh ore blended with Fort Knox ore, which included 44,447 tons of “low grade oxide” Manh Choh ore grading 0.104 oz/ton blended with typical Fort Knox ore. Recovery in the CIP circuit averaged 94% resulting in 4,366 total gold ounces produced, yielding approximately 1,300 additional gold ounces for Contango’s 30% production and will be added to the regular Q4 Campaign in the next quarterly reporting period. Lastly, we are also excited to announce that we have mobilized a drill rig to the Lucky Shot mine site with the first phase of a 15,000-meter underground in-fill drilling program getting underway soon. We expect assay results to start being reported in the first quarter of 2026. This work, along with detailed engineering, hydrology and geotechnical work will form the basis for a feasibility level mine and transportation plan for Lucky Shot, which we are targeting to produce 30,000 to 40,000 ounces of gold per year using our Direct Shipping Ore (DSO) approach. We expect to complete the feasibility study in 12 to 18 months and make a production decision in 2027.”

Commentary of Operations for Q3-2025 in comparison to Q3-2024:

The Corporate reported general source of revenue from operations of $25.0 million (“M”) in Q3-2025 in comparison to $22.7 M for the quarter ended September 30, 2024 (“Q3-2024”). In Q3-2025, the Corporate reported adjusted web source of revenue of $24.9 M in comparison to $19.1 M for Q3-2024. The Corporate reported web lack of $5.4 M or $0.44 loss consistent with absolutely diluted. This compares to a web lack of $9.7 M for Q3-2024 or $0.81 loss consistent with absolutely diluted proportion. The web loss for Q3-2025 and Q3-2024 features a non-cash unrealized loss on spinoff commitments within the quantities of $14.4M and $22.9 M, respectively. In Q3-2025, Contango offered 16,669 oz. of gold with coins prices on a derivative foundation, consistent with ounce offered (“Cash Costs”) of $1,402 and all-in-sustaining prices consistent with ounce offered (“AISC”) of $1,597.

Commentary of Money Flows for the 9 Months Ended September 30, 2025 in comparison to September 30, 2024:

Internet coins supplied from working actions used to be $60.2 M for the 9 months ended September 30, 2025 (“YTD-2025”), an important growth in comparison to $10.6 M for the 9 months ended September 30, 2024 (“YTD-2024”). The rise in web coins supplied through working actions used to be essentially pushed through gold manufacturing on the Manh Choh mine and the receipt of $87.0 M in coins distributions from the Top Gold JV. Money impaired in making an investment actions used to be $361,992 for YTD-2025 in comparison to $31.9 M in YTD-2024, which similar to coins invested within the Top Gold JV to capitaltreasury Contango’s proportion of Manh Choh building prices in 2024. Money supplied through financing actions had been $26.9 M for YTD-2025, which essentially similar to coins proceeds from an fairness providing offset through primary repayments of $29.0 M on its credit score facility. This compares to coins inflows of $41.9 M in YTD-2024, essentially similar to debt drawdowns of $30.0 M on its credit score facility and an fairness lift of $15.5 M. The Corporate’s unrestricted coins place as of September 30, 2025 used to be $107.0 M in comparison to $20.1 M as of December 31, 2024.

Throughout Q3-2025 and next to length finish, the Corporate has refer to updates:

Manh Choh Mine:

Manufacturing effects:

• Throughout Q3-2025 the Top Gold JV, operated through a subsidiary of Kinross Gold Company, (on a 100% foundation) processed 287,000 lots of ore with a mean grade of 0.214 oz. (“oz”) consistent with ton and containing roughly 61,400 ounces of gold. Gold medication averaged 92.5%, for the purpose of roughly 56,800 ounces of recovered gold, of which Contango’s 30% proportion amounted to roughly 17,000 ounces of gold.
• Throughout Q3-2025 16,669 oz. of gold had been offered throughout the length.
• For Q3-2025, coins prices on a derivative foundation had been $1,402 consistent with ounce offered, and AISC on a derivative foundation, had been $1,597 consistent with ounce offered. The rise in AISC in Q3-2025 in comparison to prior quarters is essentially a results of beneficial capital expenditures at the deliberate tractor (truck) replacements and the on-going exploration drilling program at Manh Choh.
• Throughout Q3-2025, the Top Gold JV paid coins distributions to the Corporate within the quantity of $33 M.

Fortunate Shot Challenge:

• A drill rig is lately being mobilized to the Fortunate Shot mine web page with the primary section of a fifteen,000-meter underground in-fill drilling program getting underway quickly. We predict assay effects to start out being reported within the first quarter of 2026. This paintings, at the side of clear engineering, hydrology and geotechnical paintings will mode the root for a feasibility degree mine and transportation plan for Fortunate Shot, which can be focused on to make 30,000 to 40,000 oz. of gold consistent with week the use of our Direct Transport Ore (DSO) manner. We predict to finish the feasibility learn about in 12 to 18 months and create a manufacturing choice in 2027.

Johnson Tract Challenge:

• Throughout Q3-2025, the Corporate endured with ongoing paintings to allow the underground exploration flow at the side of baseline environmental and engineering paintings to assistance allowing a street and barge touchdown facility throughout the Transportation and Port Easements granted to Cook dinner Inlet Regional Inc. (CIRI) the underlying landowner. Ground crews began paintings in July 2025 and finalized the farmland program in mid-October.

Repayments of Debt, Relief of Hedge Guarantees and Financing:

• The Corporate’s unrestricted coins place as of September 30, 2025 used to be $107 M.
• Credit score Facility:
  • Throughout Q3-2025, Contango repaid $7.0 M at the Facility, lowering the exceptional primary steadiness to $23.1 M.
  • Next to length finish, on October 2, 2025, Contango repaid $8.5 M at the Facility, additional lowering the exceptional primary steadiness to $14.6 M.
• Throughout Q3-2025, the Corporate offered all gold at spot worth and concurrently locked in a ahead worth with its lenders on 13,600 oz. of gold similar to the October 31, 2025 hedge adulthood pace (known as a “Carry Trade”). The Raise Industry used to be settled on October 31, 2025 with a web cost of $22.4 M from Contango in change for the relief of 13,600 oz. of gold beneath the hedge pledge. As of October 31, 2025, the hedge pledge steadiness used to be 49,300 oz..
• The Corporate raised rude proceeds of $50 M through issuing 1,975,000 stocks of habitual keep and pre-funded warrants to buy as much as 525,000 stocks of habitual keep at a people providing worth of $20.00 consistent with proportion and $19.99 consistent with pre-funded warrant.

Adjusted Internet Source of revenue (Non-GAAP)

• Control makes use of Adjusted web source of revenue to judge the Corporate’s working efficiency, and to devise and forecast its operations. The Corporate believes the worth of Adjusted web source of revenue displays the underlying working efficiency of our core mining trade and permits traders and analysts to check result of the Corporate to matching result of alternative mining corporations. Control’s decision of the parts of Adjusted web source of revenue is evaluated periodically and is primarily based, partially, on a evaluate of non-GAAP monetary measures impaired through mining trade analysts. Internet loss (GAAP) is reconciled to Adjusted web source of revenue (Non-GAAP) adjusted for loss on spinoff commitments in refer to desk:

CONFERENCE CALL AND WEBCAST

Contango will host a convention scream and webcast to speak about the second one quarter effects on Friday, November 14, 2025, at 11:30am EST / 8:30am PST. Members might secured the webcast the use of refer to call-in main points: https://6ix.com/event/contango-ore-q3-update.

ABOUT CONTANGO

Contango is a NYSE American indexed corporate that engages in exploration for gold and related minerals in Alaska. Contango holds a 30% passion within the Top Gold JV, which rentals roughly 675,000 acres of land for exploration and building at the Manh Choh mission, with the difference 70% owned through KG Mining (Alaska), Inc., an oblique subsidiary of Kinross Gold Company, operator of the Top Gold JV. The Corporate and its subsidiaries even have (i) a hire at the Johnson Tract mission from the underlying proprietor, CIRI, (ii) a hire at the Fortunate Shot mission from the underlying proprietor, Alaska Hardrock Inc., (iii) 100% possession of roughly 8,600 acres of peripheral Order of Alaska mining claims, and (iv) a 100% passion in roughly 145,000 acres of Order of Alaska mining claims that give Contango the unique proper to discover and build minerals on those lands. Supplementary data will also be discovered on our internet web page at www.contangoore.com.  

FORWARD-LOOKING STATEMENTS

This press loose comprises forward-looking statements relating to Contango which can be meant to be coated through the shield harbor for “forward-looking statements” supplied through the Personal Securities Litigation Reform Work of 1995, in accordance with Contango’s tide expectancies and comprises statements relating to presen result of operations, trait and nature of the asset bottom, the guesses upon which estimates are primarily based and alternative expectancies, ideals, plans, goals, guesses, methods or statements about presen occasions or efficiency (frequently, however now not all the time, the use of phrases comparable to “expects”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “intends”, or declaring that positive movements, occasions or effects “may”, “will”, “should”, or “could” be taken, happen or be accomplished). Ahead-looking statements are in accordance with tide expectancies, estimates and projections that contain a variety of dangers and uncertainties, which might reason fresh effects to fluctuate materially from the ones mirrored within the statements. Those dangers come with, however don’t seem to be restricted to: the hazards of the exploration and the mining trade (for instance, operational dangers in exploring for and creating mineral reserves; dangers and uncertainties involving geology; the speculative nature of the mining trade; the doubt of estimates and projections with regards to presen manufacturing, prices and bills; the volatility of herbal assets costs, together with costs of gold and related minerals; the life and extent of commercially exploitable minerals in houses obtained through Contango or the Top Gold JV; talent to appreciate the expected advantages of the Top Gold JV; possible delays or adjustments in plans with appreciate to exploration or building tasks or capital expenditures; the translation of exploration effects and the estimation of mineral assets; the lack of key workers or experts; fitness, protection and environmental dangers and dangers similar to climate and alternative herbal screw ups); uncertainties as to the supply and price of financing; Contango’s incapability to reserve or uphold its relative possession passion within the Top Gold JV; incapability to appreciate anticipated price from acquisitions; incapability of our control workforce to blast its plans to fulfill its objectives; the level of disruptions brought about through a pandemic of illness, such because the COVID-19 pandemic; and the likelihood that executive insurance policies might alternate, political traits might happen or governmental approvals is also behind schedule or withheld, together with because of presidential and congressional elections within the U.S. or the lack to acquire mining allows. Supplementary data on those and alternative elements which might have an effect on Contango’s exploration program or monetary effects are incorporated in Contango’s alternative stories on document with the U.S. Securities and Alternate Fee. Buyers are cautioned that any forward-looking statements don’t seem to be promises of presen efficiency and fresh effects or traits might fluctuate materially from the projections within the forward-looking statements. Ahead-looking statements are in accordance with the estimates and critiques of control on the presen the statements are made. Contango does now not think any legal responsibility to replace forward-looking statements will have to cases or control’s estimates or critiques alternate.

SOURCE Contango Ore