Contango Enhances Economics with High-Grade Drill Results and Strategic Acquisition of the Lucky Shot Lease and Royalty

Contango reported high-grade drill results from the Lucky Shot Project, including an intercept of 74.20 g/t Au over 0.50 m, with visible gold observed in multiple intervals across the L2, CK, and L1 vein structures. The company entered into an agreement to acquire 100% of the Lucky Shot project from Alaska Hardrock Inc. for total consideration of $16.07 million, extinguishing the outstanding 2% NSR royalty.

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