Contango Ore Stock

Contango Ore, Inc., an exploration stage company, engages in the exploration for gold, silver, and copper ores in Alaska.

The company’s wholly-owned subsidiary, CORE Alaska, LLC (CORE Alaska) has a 30.0% membership interest in Peak Gold, LLC (the Joint Venture Company), which leases approximately 675,000 acres from the Tetlin Tribal Council (the Tetlin Lease) and approximately 13,000 state of Alaska mining claims for exploration and development. The company's wholly-owned subsidiary, Contango Minerals, LLC (Contango Minerals) also owns 100% interest in the mineral rights to approximately 200,000 acres of state of Alaska mining claims located north and northwest of the Tetlin Lease. During the first calendar quarter of 2021, the company staked a new property called Shamrock in the Richardson Mining District located in central Alaska, along the Alaska Hwy corridor approximately 70 miles from Fairbanks, Alaska. The property includes a total of 361 Alaska state mining claims covering approximately 52,640 acres.

The company’s primary focus has historically been the exploration of a mineral lease with the Native Village of Tetlin whose governmental entity is the Tetlin Tribal Council (Tetlin Tribal Council) for the exploration of minerals near Tok, Alaska on a estimated 675,000 acres (the Tetlin Lease) constituting the Manh Choh Joint Venture Property and almost all of the company’s resources have been directed to that end. The company also separately owns the mineral rights to approximately 200,000 acres of state of Alaska mining claims for exploration; and has begun allocating more annual resources to the exploring those properties and other new opportunities.

Juneau Exploration, L.P. (JEX) entered into the Tetlin Lease with the Tetlin Tribal Council, effective as of July 15, 2008. In 2010, the Tetlin Lease was assigned to the company and in January 2015, the Tetlin Lease was assigned to the Joint Venture Company. The Tetlin Lease’s term extends to July 5, 2028.

The Manh Choh Joint Venture Property is located in the Tetlin Hills and Mentasta Mountains of eastern interior Alaska. The company owns 100% of approximately 200,000 acres of state of Alaska mining claims constituting the Contango Property and the Joint Venture Company leases the Manh Choh Joint Venture Property (an estimated 675,000 acres) and approximately 13,000 acres of state of Alaska Mining Claims for the exploration of gold and associated minerals, of which the company owns 30.0%.

The Triple Z claims were originally staked in 2009 and the claim block expanded in 2011, and again in 2019, with the claim block covering an area of 14,810 acres immediately adjacent to the Alaska Hwy to the south and west, and the Taylor Hwy to the north and east.

Eagle Prospect: The 64,900 acres Eagle claim block was staked in 2012 and 2013 to cover favorable Peak Gold stratigraphy mapped along trend by State Geologists.

Hona Prospect: The Hona Prospect area is located on Alaska state mining claims approximately 25 kilometers west of the Main Peak deposit and is immediately adjoining the Eagle claim block. A reconnaissance program was carried out on the Hona claim block in 2017, which consisted of 363 pan concentrate and 364 stream sediment samples.

Shamrock Prospect: In early 2021, the company staked the Shamrock prospect in the Richardson Mining District located in central Alaska right along the Alaska Hwy corridor approximately 70 miles from Fairbanks, Alaska. The property includes a total of 361 Alaska state mining claims covering approximately 52,640 acres.

Joint Venture Company

Chief Danny Prospect Area: The Chief Danny Prospect Area is the most advanced exploration target on the Tetlin Lease and is comprised of several distinct mineralized areas, including the Main Peak Zone, Discovery Zone, West Peak Zone, North Peak Zone, Connector Zone, Saddle Zone and the 7 O’clock area. The company has conducted extensive drilling on the Main Peak, North Peak, and Connector Zones.

Strategy

The key elements of the company’s strategy include retaining proven executive leadership; partnering with strategic industry participants to expand future exploration work; structuring incentives to drive behavior; and acquiring exploration properties.

History

Contango Ore, Inc. was founded in 2009.