Contango Silver & Gold Inc. has entered into an agreement to settle outstanding milestone payments for its Lucky Shot Project, reducing a potential $18.75 million obligation to a fixed $5 million cash payment and 100,000 shares of common stock. The company also received a $9 million cash distribution from the Peak Gold Joint Venture (JV) related to production from the Manh Choh mine. The Lucky Shot surface drill program commenced on June 22, 2026, with two helicopter-supported drill rigs, planning 29 holes totaling approximately 6,800 meters to infill and step-out mineralization. Permitting for the Johnson Tract Critical Metals Project's surface infrastructure, including an access road and barge facility, is on schedule, with field activities and road construction underway. The Kitsault Valley drill program has completed over 14,000 meters, focusing on infill and extensional drilling, with an updated Mineral Resource Estimate expected by late July. Contango has fully delivered on its 2026 gold hedge contract obligations ahead of schedule.