Contango ORE Inc. Announces Earnings For the Quarter Ended December 31, 2019

February 6, 2020– HOUSTON, TX. Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced that it had a net loss of $2.9 million, or ($0.45) per basic and diluted share, for the three months ended December 31, 2019 compared to a net loss of $1.9 million or $(0.30) per basic and diluted share for the same period last year. For the six months ended December 31, 2019, the Company reported a net loss of

$4.8 million, or ($0.75) per basic and diluted share, compared to a net loss of $4.8 million, or ($0.77) per basic and diluted share, for the same period last year. The Company also announced that it filed its Form 10-Q for the quarter ended December 31, 2019 with the Securities and Exchange Commission.

Rick Van Nieuwenhuyse, the Company’s President and CEO, commented, “The Company is well positioned in 2020 to maximize shareholder value by advancing our high- grade open pit Peak deposit up the value chain with our partner Royal Gold and evaluating the quality exploration targets on the 850,000 acre land package.”

About CORE

CORE is a Houston-based company that engages in the exploration in Alaska for gold and associated minerals through Peak Gold, LLC, its joint venture company with Royal Gold, Inc. Additional information can be found on our web page at www.contangoore.com.

CONTACT:

Contango ORE, Inc. Rick Van Nieuwenhuyse (713) 877-1311

www.contangoore.com

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