Contango Silver & Gold Inc.

Kitsault Valley Ongoing Drilling Program

As of September 6, 2026, the Kitsault Valley project had completed 123 drillholes and returned over 46,446 meters of core. All eight Dolly Varden target areas have been drilled (Torbrit, North Star, Wolf, Red Point, V-Vein, Ace Galena, Blue Bird, and 470), in addition to the Homestake target areas (Homestake Main and Homestake Silver) with a multi-purpose approach of infill, expansion, and resource definition/upgrade (Figure 3). The drill program is expected to be completed by the end of September. Analytical results from Torbrit and North Star are imminent and will be reported in the coming weeks. The updated Mineral Resource Estimate (MRE) remains on track to be released by late September.

Rob van Egmond, the Company’s VP Exploration - Canada, said, “Our focus at Kitsault Valley this season was all about systematic execution—balancing resource definition and infill drilling to move these deposits forward into engineering studies, while continuing to push step-out expansion drilling across both the Dolly Varden and Homestake target areas. Hitting all eight target areas at Dolly Varden plus Homestake Main and Homestake Silver with over 46,000 meters across 123 drill holes keeps us right on track to wrap up drilling by the end of September. I’m excited to report on the initial assays from Torbrit and North Star shortly, and we look forward to delivering our updated Mineral Resource Estimate later this month. I would also like to commend our contractors and the entire team on completing more drilling than planned and especially to have completed that work safely. That makes it a successful field season!”

FIGURE 3: Kitsault Valley drilling nearing completion with over 46,000m completed to date. Logging and sampling will continue through September.