HOUSTON–(BUSINESS WIRE)–Contango ORE, Inc. (“CORE” or the “Firm”) (OTCQB: CTGO) introduced in the present day Exploration Plans for 2021 in addition to the launch of a brand new Firm web site. Please go to the brand new web site at www.contangoore.com.

Company Replace

The Firm is happy to announce that it has a brand new Firm web site: www.contangoore.com. We welcome shareholders and buyers to go to the positioning and be taught extra in regards to the Firm’s historical past and initiatives, in addition to our plans to proceed to construct shareholder worth. The Firm’s investor relations data, together with press releases, hyperlinks to the Firm’s filings with the U.S. Securities and Trade Fee, the charters of the committees of the Firm’s Board of Administrators, and the Firm’s Code of Ethics, might be accessed on this web site. When you have questions, please contact us by utilizing the info@contangoore.com hyperlink.

The Firm would additionally wish to welcome two new workers – Alina Wyatt, Database Supervisor and Luke Raymond, Undertaking Supervisor. Alina and Luke are each Alaska-based geologists with in depth expertise in Alaska, and particularly with the Peak Gold venture and surrounding 100% CORE-owned lands encompassing the Triple Z, Eagle and Hona initiatives areas.

Peak Gold LLC Replace

On December 10, 2020, the Administration Committee of Peak Gold, LLC (“PGLLC”), the Firm’s three way partnership with a subsidiary of Kinross Gold Company (“Kinross”), accepted an $18 million price range for calendar yr 2021. The Firm’s proportionate share of the accepted price range is roughly $5.4 million. The aim of the price range is to finish in-fill drilling, engineering and environmental research vital to finish a feasibility-level examine on the Peak Gold venture, and prepared the venture for the formal allowing course of to start, together with neighborhood outreach. Drilling will represent nearly all of the general program and embrace: Useful resource In-fill, Condemnation, Hydrology, In-pit Geotechnical and different Geotechnical drilling associated to amenities placement. The In-fill drill program will increase Indicated and Inferred sources to the Measured and Indicated classes¹, respectively. As well as, we count on to fund a roughly $2 million exploration program to discover for extra sources on the roughly 650,000 acres of personal land underneath lease with the Tetlin Tribe, targeted on the areas instantly adjoining to the recognized Peak Gold sources. Please see Firm web site for extra particulars on the Peak Gold venture and Peak Gold: https://www.contangoore.com/project/peak-gold.

Rick Van Nieuwenhuyse, the Firm’s President and CEO, commented, “The Peak Gold, LLC just lately accomplished the roughly $3 million fourth-quarter 2020 calendar yr program on the Peak Gold venture web site simply earlier than the vacations. The drilling accomplished was primarily to supply large-scale, bulk samples for continued feasibility-level metallurgical work. The 2021 program is already underway with the Administration Committee of PGLLC having accepted an $18 million price range to finish work wanted to organize a Feasibility Research and prepared the venture for the allowing course of. It’s thrilling to see the concrete progress being made and we stay up for reporting outcomes as they turn into obtainable.”

CORE’s 100%-Owned Exploration Replace

The Firm plans to drill its 100%-owned Triple Z goal later this yr. Earlier work has outlined a well-defined porphyry copper-gold-silver goal instantly adjoining to the Alaska and Taylor Hwys. The goal is outlined by grid floor sampling in addition to IP and VTEM geophysical surveys – please see: https://www.contangoore.com/project/triple-z. The Firm expects to have the ability to drill right here within the fall as soon as the State of Alaska has obtained conveyance from the federal authorities of those state chosen lands – a course of that’s on-going in Alaska.

The Firm additionally plans to proceed its exploration efforts on its earlier stage Eagle and Hona initiatives positioned instantly north of the Peak Gold venture space. At each areas, stream sediment and pan focus sampling have outlined a number of broad areas of anomalous gold and related pathfinder components, together with some notably excessive pan focus samples containing 1 to 9 g/t in a number of samples.

We consider the Eagle space is an thrilling early-stage exploration space outlined by anomalous stream geochemistry alongside roughly 10 kilometers of strike size. Observe up geology and boots on-the-ground prospecting are anticipated to establish areas for comply with up drilling. The same program is anticipated for the Hona block positioned instantly to the west of Eagle. Earlier drilling by the Peak Gold JV at Hona recognized a number of intervals of between 0.4 g/t gold over 17 meters and three g/t over thicknesses of 1.3 meters. Further boots-on-the-ground prospecting and geologic mapping together with the in depth geophysical surveys already performed are anticipated to refine geologic drill targets. We stay up for updating shareholders as we execute these applications later this yr. Please go to our web site for additional data: https://www.contangoore.com/project/eagle and https://www.contangoore.com/project/hona.

ABOUT CORE

CORE engages in exploration in Alaska for gold and related minerals by means of a 30% curiosity in Peak Gold, LLC, which leases roughly 675,000 acres from the Tetlin Alaska Native Tribe for exploration and improvement, and thru Contango Minerals Alaska, LLC, its wholly owned subsidiary, which owns the exploration and improvement rights for State mining claims totaling roughly 168,000 acres. Further data might be discovered on our internet web page at www.contangoore.com.

1. The phrases “mineral useful resource”, “measured mineral useful resource”, “indicated mineral useful resource” and “inferred mineral useful resource” as used on this press launch are Canadian mining phrases as outlined in accordance with Canadian Nationwide Instrument 43-101 (NI 43-101). CORE just isn’t topic to regulation by Canadian regulatory authorities. These phrases should not outlined phrases underneath the U.S. Securities and Trade Fee’s (“SEC’s”) Trade Information 7 and are usually not permitted for use in studies and registration statements filed with the SEC. The estimation of measured sources and indicated sources entails larger uncertainty as to their existence and the authorized and financial feasibility of extraction than the estimation of confirmed and possible reserves. Conversion of mineral sources to confirmed and possible mineral reserves usually requires an extra financial examine, reminiscent of a preliminary feasibility examine. Traders are cautioned to not assume that each one or any a part of measured or indicated sources will ever be transformed into mineral reserves. As well as, the SEC usually solely permits issuers to report mineralization that doesn’t represent mineral reserves as in-place tonnage of mineralized materials and grade irrespective of unit quantities of steel.

FORWARD-LOOKING STATEMENTS

This press launch accommodates forward-looking statements concerning CORE which are meant to be lined by the secure harbor “forward-looking statements” offered by the Non-public Securities Litigation Reform Act of 1995, primarily based on CORE’s present expectations and consists of statements concerning future outcomes of operations, high quality and nature of the asset base, the assumptions upon which estimates are primarily based and different expectations, beliefs, plans, targets, assumptions, methods or statements about future occasions or efficiency (usually, however not all the time, utilizing phrases reminiscent of “expects”, “initiatives”, “anticipates”, “plans”, “estimates”, “potential”, “doable”, “possible”, or “intends”, or stating that sure actions, occasions or outcomes “might”, “will”, “ought to”, or “might” be taken, happen or be achieved). Ahead-looking statements are primarily based on present expectations, estimates and projections that contain numerous dangers and uncertainties, which might trigger precise outcomes to vary materially from these, mirrored within the statements. These dangers embrace, however should not restricted to: the dangers of the exploration and the mining trade (for instance, operational dangers in exploring for, growing mineral reserves; dangers and uncertainties involving geology; the speculative nature of the mining trade; the uncertainty of estimates and projections referring to future manufacturing, prices and bills; the volatility of pure sources costs, together with costs of gold and related minerals; the existence and extent of commercially exploitable minerals in properties acquired by CORE or Peak Gold LLC; means to understand the anticipated advantages of the latest transactions with an affiliate of Kinross; disruption from the transactions and transition of the Joint Enterprise Firm’s administration to an affiliate of Kinross, together with because it pertains to upkeep of enterprise and operational relationships; potential delays or modifications in plans with respect to exploration or improvement initiatives or capital expenditures; the interpretation of exploration outcomes and the estimation of mineral sources; the lack of key workers or consultants; well being, security and environmental dangers and dangers associated to climate and different pure disasters); uncertainties as to the provision and value of financing; CORE’s incapability to retain or keep its relative possession curiosity within the Joint Enterprise; incapability to understand anticipated worth from acquisitions; incapability of our administration crew to execute its plans to satisfy its objectives; the extent of disruptions brought on by the COVID-19 outbreak; and the chance that authorities insurance policies might change, political developments might happen or governmental approvals could also be delayed or withheld, together with because of the latest presidential and congressional elections within the U.S. or the lack to acquire mining permits. Further data on these and different elements which might have an effect on CORE’s exploration program or monetary outcomes are included in CORE’s different studies on file with the U.S. Securities and Trade Fee. Traders are cautioned that any forward-looking statements should not ensures of future efficiency and precise outcomes or developments might differ materially from the projections within the forward-looking statements. Ahead-looking statements are primarily based on the estimates and opinions of administration on the time the statements are made. CORE doesn’t assume any obligation to replace forward-looking statements ought to circumstances or administration’s estimates or opinions change.