Contango Ore, Inc. Announces Acquisition Of The Lucky Shot Mine Project

Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) is pleased to announce that it has completed the purchase of 100% of the outstanding membership interests (the “Interests”) of Alaska Gold Torrent, LLC, an Alaska limited liability company (“AGT”), from CRH Funding II PTE. LTD, a Singapore private limited corporation (“CRH”). AGT holds rights to the Lucky Shot Mine and related mining claims (the “Lucky Shot Project”) located in the Willow Mining District about 75 miles north of Anchorage, Alaska. The Lucky Shot Mine historically produced 252,000 oz of gold from 169,000 tons of ore (Stoll, 1997) indicating an average head grade of 1.5 oz/ton (1.6 oz/tonne). Historic production from the Willow district is estimated at 610,000 ounces of gold from grades between 30 and 60 g/t.1 A recent pre-feasibility study and resource estimate was completed in 2016 by Hard Rock Consulting on behalf of Miranda Gold and Gold Torrent Inc. which included measured and indicated resources containing 121,500 ounces grading 18.3 g/t using a 5g/t cut-off grade and a $1265 gold price.2 Below is a summary of the business terms for the acquisition followed by a more detailed description of the assets and the opportunity for CORE. For further information, please visit our website at www.contangoore.com.