Contango Silver & Gold Inc. Investor update

Okay. Folks start filtering into the room.

I will say good morning, good afternoon, or good evening. depending on where in the world you're logging in from today. just between, all of us on stage are ready to cover several time zones, but I'm glad all of you could join us on short notice after this morning's news. I've got with me today Rick Van Nieuwenhuyze, CEO of Contango Silver & Gold, and Dave Larimer, the company's resident rock star and vice president of exploration, gentlemen. How are you today? I'm doing well.

Morning, morning. Good morning, Ronnie.

Awesome. so a couple of housekeeping notes, as usual. I'll be brief, I promise, and a lot of you are regulars. there's a chat button at the bottom of your screen. I know that some of you did submit questions in advance over email. please do use it. I'll try to get to as many questions as I can during today's event. If I don't touch it for whatever reason, I'll make sure the team gets it and can get back to you afterwards. But I usually do a pretty good job of getting to most of them. this event is being recorded and will be available for replay, mid-afternoon Eastern Time, so certainly before the end of the day for most people watching. it'll come right in your inbox, but it'll also be on Six's YouTube channel. And finally, there's a meeting request button at the bottom of the screen. please do use that if you'd like to get in touch with the, Contango Silver & Gold team and somebody will be sure to give you a call. But I am eager to get into the lucky shot results because I think it is a very exciting news release.

So, Rick, I'll I'll start with you. This morning's release, just for folks who don't know, it's the second batch of assays from the Coleman Surface program. The first, since the whole program wrapped, at the end of August. So, to sum up, 5,800 meters, 27 holes, 5 pads, and now excitingly, 140-gram hit, in, 26:018 on top of the earlier results. so with the rigs off the hill, most lab work back. How does this summer grade out against what you sent the crews out to do?

I think they accomplished everything they, they set out to do. We I think we were too short, shoot, two holes short of, the overall objective. And, we just had an early winner here, and so it, once you have, you know, sort of more than 6 inches of snow on the ground, it gets a little dangerous, especially up there. It's really steep. I don't know if you've seen the photos, Sure.

But it's, it's super steep. So, that was, more of a safety call. But I think we accomplished all the, the objectives in terms of most of that drilling was infill and, and the expansion of the vein down dip and along the stripe. so I think that's all that all worked out as, as planned. And, yeah, the 140, 140 grams per ton is a great hit. you know, obviously, it's we're going to, put that over to a, a mining width of, you know, 2 to 3 meters. That, that all of this information is going to get incorporated into our mineral resource update, probably April time frame, somewhere in there. See when we get, all the assays back and QA/QC. I think we'll be drilling, Dave will probably comment on this as well, but I think we'll be drilling probably into February, and so, you know, a couple of months to get up with all the assays back, QA/QC. Mineral resource update, and then we'll incor use that to, incorporate into a feasibility study, which will have done by before the end of end of the year, in the year being 2027. So, that's kind of the plan.

And, yeah, I think it's not just a single assay. It's a whole suite of assays.

Sure. And basically demonstrating the vein continuity, there are a few more veins that we've identified, that just means more tons.

in, obviously, we got they've got all fit into a mine plan. So, more we got a lot more drilling to do underground now. we'll have one more batch of assays, to release, and probably 2 to 3 weeks or a month or so. but that's, that's kind of it wraps it up for the surface drilling and then, several more months of underground drilling.

Mm-hmm. Well, exciting. and Dave, and I got a bunch of tech questions for you, so we're in there. We're going to nerd out for a couple of questions if that's okay.

Nerd out. but Rick, please, feel free to jump in whenever you'd like.

Coleman 4, the vein that seems to keep showing up. It carries that 140-gram interval in '018 on pad D. the 118-gram sub-interval, in '19 on pad E. And it's half of the 18-gram intercept in '21 on pad F. So that's three pads, one vein. Is Coleman 4, in your opinion, turning into the backbone of this system? And how much strike, does that give you between those pads?

Yeah, I would I would definitely say Coleman 4 is emerging as you're definitely an important part of the picture. it's definitely encouraging. You know, we can maintain that, that structural and continuity across multiple pads through their demonstrating that the models, you know, really are behaving as they should. I would be a little cautious and a little, little careful calling it the backbone quite yet. These are vein systems. I, I would interpret it more as maybe a major artery. You know, we're dealing with vein systems. We're dealing with fluid pumping through openings through there. So I would I would almost consider Coleman 4 as it occurs over and over again, a major arteries that's passing these fluids precipitating our courts and our golds out through the system, giving us that lateral spread through the system on the Coleman side. it's interesting to note, you know, we put this back into context. you know, the Coleman side was last modeled in 2023 through that last mineral resource update. Strike length, it was about 500 meters by 500 meters. You know, it is a s-substantial part. we, we've known that. But it is a substantial part of the Coleman vein system.