Contango Ore receives $24M Q1 cash distribution from Peak Gold JV; production exceeds guidance

Contango Silver & Gold Inc.

Peak Gold JV distributed $24M to Contango in Q1 ($9M from 2024 profits, $15M from 2025 first campaign).
Campaign #1-2025 processed 323K tons at 0.215 oz/t grade, 93.5% recovery; Contango's 30% share ~19,500 oz gold.
Company sold 13,961 oz from Campaign #1-2025; remainder expected by late April.
2025 cash distribution guidance raised to $80M at $2,800/oz gold, up from prior expectations.
Full-year production guidance maintained at 60,000 oz (30% share); AISC ~$1,400/oz; life-of-mine avg 58,750 oz/yr through 2029.

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