Contango ORE, Inc. Announces Plans for 2021 and Launch of New Company Website

Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today Exploration Plans for 2021 as well as the launch of a new Company website. Please visit the new website at www.contangoore.com.

Corporate Update

The Company is pleased to announce that it has a new Company website: www.contangoore.com. We welcome shareholders and investors to visit the site and learn more about the Company’s history and projects, as well as our plans to continue to build shareholder value. The Company’s investor relations information, including press releases, links to the Company’s filings with the U.S. Securities and Exchange Commission, the charters of the committees of the Company’s Board of Directors, and the Company’s Code of Ethics, can be accessed on this website. If you have questions, please contact us by using the [e-mail] link.

The Company would also like to welcome two new employees – Alina Wyatt, Database Manager and Luke Raymond, Project Manager. Alina and Luke are both Alaska-based geologists with extensive experience in Alaska, and specifically with the Peak Gold project and surrounding 100% CORE-owned lands encompassing the Triple Z, Eagle and Hona projects areas.

Peak Gold LLC Update

On December 10, 2020, the Management Committee of Peak Gold, LLC (“PGLLC”), the Company’s joint venture with a subsidiary of Kinross Gold Corporation (“Kinross”), approved an $18 million budget for calendar year 2021. The Company’s proportionate share of the approved budget is approximately $5.4 million. The purpose of the budget is to complete in-fill drilling, engineering and environmental studies necessary to complete a feasibility-level study on the Peak Gold project, and ready the project for the formal permitting process to begin, including community outreach. Drilling will constitute the majority of the overall program and include: Resource In-fill, Condemnation, Hydrology, In-pit Geotechnical and other Geotechnical drilling related to facilities placement. The In-fill drill program will augment Indicated and Inferred resources to the Measured and Indicated categories¹, respectively. In addition, we expect to fund a roughly $2 million exploration program to explore for additional resources on the roughly 650,000 acres of private land under lease with the Tetlin Tribe, focused on the areas immediately adjacent to the known Peak Gold resources. Please see Company website for more details on the Peak Gold project and Peak Gold: https://www.contangoore.com/project/peak-gold.