TETLIN GOLD PROJECT - Contango ORE · TETLIN GOLD PROJECT TOK MINING DISTRICT, ALASKA Contango ORE,...

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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, commentsregarding timing and content of upcoming work programs, geological interpretations, receipt ofproperty titles, in-situ valuations, mining costs, potential mineral recovery processes, mineralresources or reserves and other related matters. Forward-looking statements address future eventsand conditions and therefore involve inherent risks and uncertainties. The forward- lookingstatements contained in this presentation represent the subjective views of the management ofContango ORE, Inc. and management’s current estimates of future performance based onassumptions that are subject to significant business, economic and competitive uncertainties andcontingencies, which are beyond the control of Contango ORE, Inc. and which may or may notprove to be correct. The properties addressed herein are at an early stage of development. Morework is required before mineralization and project economics can be confidently modeled ordetermined. Actual results may differ materially from those currently anticipated and presented inthis presentation. No representation, warranty or prediction is made or intended as to the resultsof future work, the ability to obtain governmental approvals for further development or theaccuracy or completeness of any of the information contained in this presentation. There is noassurance that the estimates and projections herein will be sustained in future work or that theproject will otherwise prove to be economic. You should not unduly rely on these forward-lookingstatements 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

4Contango ORE, Inc. - Tetlin Project

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

mile

s

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 on Tetlin Village lands, an area measuring 45 miles E-W by 54 miles N-S.

Multiple gold-bearing prospects discovered, drilling conducted only on Peak, Discovery, Saddle and Tors, resources outlined at Peak (~100 acres).

TETLIN LAND


TETLIN REGIONAL GEOLOGY

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Modified after Newberry et. al, 1998


GEOLOGY AND MINERALIZATION

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Host rocks are poly-metamorphosed Paleozoic calcareous

schists in a largely psammitic schist basement disconformably

overlain/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.


TETLIN GOLD IN SOIL OVER MAGNETICS

North Peak Zone

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West Peak Zone


3.5 miles

4 m

iles

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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

only information about "reserves," or that part

of 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

or reserve category. Investors are urged to

carefully consider the disclosure in Contango

ORE Inc.'s public disclosures, which may be

obtained from the SEC's website.


GRADE x THICKNESS: MAIN PEAK - NORTH PEAK ZONES

North Peak

East Peak

Main Peak

West Peak

2013

Resource

Outline


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)


SIGNIFICANT INTERVALS >200 GxT


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

13

170

237

338

328

384

$130

$116

$185

$110 $114

100

150

200

250

300

350

400

2011 2012 2013 2105 2016

Fee

t

or

U

S

Do

llars

Average Advanceft/24hrLoaded Cost $/ft


* 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


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 0 958 33 94 11 0 0 2,330 639,429 0

2010 0 613 760 668 795 0 14 0 877,762 0

2011 1,267 20 688 0 0 8,057 3,957 0 2,371,088 3,957

2012 5,223 82 1,029 0 0 36,006 0 0 3,501,880 0

2013 8,970 14 1,406 85 278 47,081 2,414 0 8,056,936 2,414

2014 0 0 0 0 0 0 0 0 6,999,620 0

2015 8,352 133 0 0 0 46,128 0 0 6,800,000 0

2016* 10,450 21 694 0 0 67,336 23.5 0 11,000,000 0

2017* 1,374 0 0 0 0 8,110 0 0 5,345,303 0

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: OTCQBAs 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


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 outside 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.


THANK YOUCTGO: OTCQB

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TETLIN GOLD PROJECT - Contango ORE · TETLIN GOLD PROJECT TOK MINING DISTRICT, ALASKA Contango ORE,...

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