Contango Silver & Gold Inc.

Database and Technical Framework

The updated estimate is supported by a comprehensive project drill-hole database totaling 1,873 holes and 433,934 meters, with 1,454 holes and 328,638 meters directly assigned to the eight resource-reporting deposits. Since the effective dates of the prior resource statements, 370 holes (175,264 meters) across the seven updated deposits have been added to the overall resource database.

For the seven re-modeled deposits, updated geological solids encompass 34 distinct domains containing 23,264 assay intervals (27,176 meters) from 947 drill holes with populated metal assays. The underlying assay dataset was locked in early January 2026, with 3D geological modeling and database validation continuing through March 2026. All data was formally audited, verified, and certified by the Qualified Person on April 13, 2026. Drilling completed during the 2026 field season is excluded from this statement and will be incorporated into a future MRE update planned for H1 2027.

Dave Larimer, CPG, the Company’s Vice President, Exploration, added, “This resource update reflects a total modernization of our geological framework across Kitsault Valley, rather than simply dropping new drill holes into old wireframes. A major driver of our timeline was migrating historical datasets out of legacy software and into Leapfrog Geo to re-interpret all 34 mineralized domains directly from core logging, and structural data. While re-domaining deposit by deposit required more time upfront, it established a single, internally consistent, integrated and highly robust model across the entire project. We now have a geological foundation we can rely on with absolute confidence—one designed for rapid, seamless updates as new drilling comes in, providing for a much faster path toward our next resource iteration.”

Figure 2. Drilling coverage supporting the mineral resource estimate. A: Homestake area. B: Dolly Varden area. Red traces identify drilling incorporated into the estimate.