TETLIN GOLD PROJECT TOK MINING DISTRICT, ALASKA Contango ORE, - - PowerPoint PPT Presentation

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TETLIN GOLD PROJECT

TOK MINING DISTRICT, ALASKA Contango ORE, Inc. March 17, 2017

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This presentation may contain forward-looking statements including, but not limited to, comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, in-situ valuations, mining costs, potential mineral recovery processes, mineral resources or reserves and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The forward- looking statements contained in this presentation represent the subjective views of the management of Contango ORE, Inc. and management’s current estimates of future performance based on assumptions that are subject to significant business, economic and competitive uncertainties and contingencies, which are beyond the control of Contango ORE, Inc. and which may or may not prove to be correct. The properties addressed herein are at an early stage of development. More work is required before mineralization and project economics can be confidently modeled or

• determined. Actual results may differ materially from those currently anticipated and presented in

this presentation. No representation, warranty or prediction is made or intended as to the results

• f future work, the ability to obtain governmental approvals for further development or the

accuracy or completeness of any of the information contained in this presentation. There is no assurance that the estimates and projections herein will be sustained in future work or that the project will otherwise prove to be economic. Y

• u should not unduly rely on these forward-looking

statements in this presentation. Contango ORE, Inc. expressly disclaims any and all liability relating to or resulting from the use of information contained in this presentation.

CONTANGO ORE, INC. DISCLAIMER

Contango ORE, Inc. - Tetlin Project

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PEAK GOLD, LLC

• On January 8, 2015, Contango Ore and Royal Gold, Inc. formed a joint

venture, Peak Gold, LLC through their wholly owned subsidiaries.

• Contango contributed its State of Alaska mining claims and its Tetlin

Lease to the Joint Venture.

• Royal Gold would manage and operate continued exploration on the

Tetlin project.

• Royal Gold has the option to invest up to $30 million through October

2018 to earn up to a 40% interest in the Joint Venture with drag-along rights attached.

• Royal Gold either a 2% or 3% NSR royalty over property controlled by

the joint venture, and the landowner has a production royalty between 2.25% and 4.25% over the area of the Tetlin lease.

• Through December 31, 2016, Royal Gold, Inc., has earned an 20.6%

interest in the Joint Venture.

Contango ORE, Inc. - Tetlin Project

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• Located in Eastern

Interior Alaska on Alcan Hwy, 200 paved road miles from Fairbanks, 15 miles south of Tok

• All-season gravel road

with power and communications in the Peak resource area, three large mines operating in the region

LOCATION

45 miles 54 miles

• Land includes 675,000

acres of fee simple land leased from Tetlin Village and approximately 167,000 acres of State mining claims owned by Peak Gold JV.

• No previous exploration
• n Tetlin Village lands,

an area measuring 45 miles E-W by 54 miles N-S.

• Multiple gold-bearing

prospects discovered, drilling conducted only

• n Peak, Discovery,

Saddle and Tors, resources outlined at Peak (~100 acres).

TETLIN LAND

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TETLIN REGIONAL GEOLOGY

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Modified after Newberry et. al, 1998

Contango ORE, Inc. - Tetlin Project

GEOLOGY AND MINERALIZATION

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• Host rocks are poly-metamorphosed Paleozoic calcareous

schists in a largely psammitic schist basement disconformably

• verlain/intruded by local Tertiary volcanic/plutonic rocks
• 70 Ma mineralization occurs in chlorite-amphibole-rich distal

skarn assemblages. No prograde skarn assemblage present.

• Native gold associated with massive to semi-massive

pyrrhotite-chalcopyrite-arsenopyrite with lesser Ag, Bi, Co, Pb, Sb, Mo, Sn and Zn species.

• Causative plutonic body is not evident at surface or in drilling.
• Bedrock in resource area is masked by 1-3 meters of

Pleistocene loess supporting thick vegetative mat.

Contango ORE, Inc. - Tetlin Project

TETLIN GOLD IN SOIL OVER MAGNETICS

North Peak Zone

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West Peak Zone

Contango ORE, Inc. - Tetlin Project

3.5 miles 4 miles

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CAUTIONARY NOTE TO U.S. INVESTORS

Note: The US Securities and Exchange Commission permits US listed mining companies to disclose in their SEC filings

• nly information about "reserves," or that part
• f a mineral deposit which could be

economically and legally extracted or

• produced. Contango ORE Inc. uses the

terms "indicated resources" and "inferred resources," which are much less certain as to existence and the ability to legally and economically produce. It cannot be assumed that all or any portion of inferred resources exist or will be converted to a higher resource

• r reserve category. Investors are urged to

carefully consider the disclosure in Contango ORE Inc.'s public disclosures, which may be

• btained from the SEC's website.

Contango ORE, Inc. - Tetlin Project

GRADE x THICKNESS: MAIN PEAK - NORTH PEAK ZONES

North Peak East Peak Main Peak West Peak 2013 Resource Outline 10 Contango ORE, Inc. - Tetlin Project

Grade > Cut-off Category Cut-off (g/t) (AuEq) Tonnes > cut-off (tonnes) Au (g/t) Ag (g/t) Cu (%) Au Eq (g/t) Total Au Ounces Total Au-equiv Ounces Indicated 0.5 5,970,000 3.46 11.8 0.25 4.08 664,112 783,115 Inferred 0.5 3,850,000 2.07 14.28 0.23 2.69 256,225 332,969

Resource data from Giroux, Dec., 2013

• Based on drilling data available as of December 2013 (78 of 130 holes,

16,010 meters of core). Updated resource estimate anticipated in 1st half of 2017, 143 additional holes (+30,000m) drilled to date since resource was completed in 2013.

• Only 7 gold values were capped at 75.0 gpt, 13 silver values were capped

at 252.0 gpt and 7 copper values were capped at 5.40%.

• Resource blocks are blocks 10 x 10 x 5 meters, ore S.G. is 3.15, waste S.G.

is 2.81. Grades for Au, Ag and Cu were interpolated using Ordinary Kriging

• For AuEquiv calc: Gold = US$1318/oz. Copper = $3.25/lb, Silver = $21.55/oz
• Preliminary metallurgical work shows gold is recoverable by gravity +

direct cyanidation.

TETLIN PROJECT RESOURCES

(Resource from Contango ORE, December, 2013)

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SIGNIFICANT INTERVALS >200 GxT

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Zone Drill Hole From (meters) To (meters) Interval (meters) Au_gpt Au_gpt x Interval North Peak TET16235 14.50 53.38 38.88 51.62 2006.99 North Peak TET16271 24.08 41.20 17.12 51.89 888.36 Main Peak TET13062 88.90 153.70 64.80 13.10 848.88 Main Peak TET12018 85.34 143.87 58.53 14.45 845.76 Main Peak TET12036 155.45 204.22 48.77 14.72 717.89 Main Peak TET13063 131.11 171.60 40.49 16.55 670.11 North Peak TET16192 78.51 91.78 13.27 49.19 652.75 North Peak TET16237 9.75 23.94 14.19 45.33 643.23 North Peak TET16256 7.92 21.12 13.20 48.59 641.39 Main Peak TET16267 110.39 161.24 50.85 12.05 612.74 North Peak TET16302 14.31 37.05 22.74 26.61 605.11 Main Peak TET16268 105.39 173.28 67.89 8.70 590.64 Main Peak TET13107 0.00 43.33 43.33 12.81 555.06 Main Peak TET13110 3.05 13.72 10.67 51.71 551.75 Main Peak TET12017 7.92 57.00 49.08 11.22 550.68 Main Peak TET13117 121.62 133.81 12.19 42.94 523.44 Main Peak TET13107 79.09 159.25 80.16 6.24 500.20 North Peak TET16272 23.13 32.96 9.83 49.01 481.77 North Peak TET16289 10.52 36.00 25.48 18.73 477.24 North Peak TET15177 45.84 68.88 23.04 19.86 457.57 Main Peak TET12035 168.62 192.02 23.40 16.97 397.10 North Peak TET16271 44.73 53.92 9.19 41.02 376.97 Main Peak TET13064 156.60 189.40 32.80 10.64 348.99 North Peak TET15176 23.01 76.39 53.38 6.42 342.70 Main Peak TET13124 69.94 141.32 71.38 4.76 339.77 North Peak TET16271 57.25 71.20 13.95 24.28 338.71 North Peak TET15171 17.34 40.15 22.81 13.33 304.06 Main Peak TET13100 10.06 46.32 36.26 7.48 271.22 Main Peak TET13098 9.75 36.88 27.13 9.78 265.33 Main Peak TET15147 9.39 51.28 41.89 6.07 254.27 North Peak TET16304 16.31 37.51 21.20 11.86 251.43 North Peak TET17313 3.66 31.70 28.04 8.80 246.75 Main Peak TET15147 101.70 150.12 48.42 4.98 241.13 Main Peak TET13100 63.40 84.73 21.33 10.71 228.44 North Peak TET16289 39.12 55.70 16.58 13.52 224.16 Main Peak TET13088 136.87 157.20 20.33 11.01 223.83 Main Peak TET13110 17.83 41.70 23.87 9.23 220.32 North Peak TET16305 17.70 47.24 29.54 7.30 215.64 Main Peak TET15153 10.20 32.92 22.72 9.38 213.11 Main Peak TET13104 93.42 127.71 34.29 6.13 210.20 North Peak TET17312 4.27 33.39 29.12 7.12 207.33 Main Peak TET12016 19.96 45.72 25.76 7.84 201.96 North Peak TET16227 21.56 32.31 10.75 18.62 200.17

• Drilling advance rates include drilling + moves + down-time
• “Loaded” drilling costs include all drilling + all project labor, analytical, transportation,

expendables, off-site support and G&A

• Most 2013 drilling was oriented core and included fly drilling which was both slower and

more expensive than previous drilling

• All drilling was completed by CnC Drilling and First Drilling (Connors) using both skid/wheel

mounted and fly core drilling rigs

TETLIN PROJECT DRILL SUMMARY

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170 237 338 328 384 $130 $116 $185 $110 $114 100 150 200 250 300 350 400 2011 2012 2013 2105 2016 Feet or US Dollars

Average Advance ft/24hr Loaded Cost $/ft

Contango ORE, Inc. - Tetlin Project

* 2017 performance data is accurate through March 15, 2017. Budget numbers for 2016 and Phase 1 2017 are total approved budget figures.

TETLIN PROJECT WORK SUMMARY

14 Contango ORE, Inc. - Tetlin Project Year Core sample s Rock samples Soil samples Pan Con samples Stream Sed samples Core (feet) Geophys (km) Trenchin g (feet) Expenditures (US$) Airborne Mag+EM (km) (not including IP) 2009 958 33 94 11 2,330 639,429 2010 613 760 668 795 14 877,762 2011 1,267 20 688 8,057 3,957 2,371,088 3,957 2012 5,223 82 1,029 36,006 3,501,880 2013 8,970 14 1,406 85 278 47,081 2,414 8,056,936 2,414 2014 6,999,620 2015 8,352 133 46,128 6,800,000 2016* 10,450 21 694 67,336 23.5 11,000,000 2017* 1,374 8,110 5,345,303 Total 35,636 1,841 4,610 847 1,084 212,717 6,409 2,330 40,246,715 6,371

CONTANGO ORE CORPORATE METRICS

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CTGO: OTCQB

As of March 17, 2017: Outstanding shares of common stock

(which includes 198,998 shares of unvested restricted stock ):

4,903,766 Outstanding options: 307,000 Outstanding warrants: 580,999 Fully Diluted shares of common stock: 5,719,765 Float: 41% Stock price: $19.00 Market capitalization: $93.2 million

Contango ORE, Inc. - Tetlin Project

TETLIN PROJECT SUMMARY

• Road accessible on stable, State of Alaska and

fee simple lands.

• Current indicated resource averages +3 grams

gold per tonne, is located at or near surface and is open to expansion.

• Multiple unexplored gold occurrences identified
• utside of the 100-acre Main Peak – North Peak

area.

• Peak Gold JV is well funded, well managed and

anticipates updating the December 2013 resource in the first half of 2017 using data from holes drilled in 2015-2017.

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THANK YOU

CTGO: OTCQB

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