CONTANGO ORE, INC. ANNOUNCES FILING AND MAILING OF SPECIAL MEETING PROXY STATEMENT IN CONNECTION WITH THE PROPOSED PLAN OF ARRANGEMENT WITH DOLLY VARDEN

Core Viewpoint - Contango ORE, Inc. has filed a definitive proxy statement and related materials for a special meeting to vote on a proposed plan of arrangement with Dolly Varden Silver Corporation, which includes significant changes to share structure and management [1][2]. Meeting Details - The special meeting for Contango stockholders is scheduled for March 17, 2026, at 12:00 P.M. Central Time, to discuss three key proposals: the 2026 Omnibus Incentive Plan, an increase in authorized shares from 45 million to 250 million, and the issuance of common stock to Dolly Varden shareholders [1][2]. Arrangement Proposal - Under the arrangement, Dolly Varden shares will be exchanged at a ratio of 0.1652 of a share of Contango common stock, with the arrangement being executed through a court-approved plan under British Columbia's Business Corporations Act [1][2]. Reasons for the Arrangement - The Contango Board, after consulting with management and advisors, believes the arrangement is in the best interests of stockholders, citing factors such as a fairness opinion from Canaccord Genuity, the fixed exchange ratio, and the potential for enhanced market capitalization and institutional ownership [1][2]. Board Recommendation - The Contango Board unanimously recommends that stockholders vote "FOR" all proposals related to the arrangement, share increase, and incentive plan [2]. Voting Support Agreements - Voting support agreements have been secured from directors, officers, and significant stockholders, representing approximately 22% of the outstanding shares of Contango, who have committed to vote in favor of the arrangement [2]. Company Overview - Contango ORE, Inc. is engaged in the exploration and development of gold and associated minerals in Alaska, holding interests in several projects including the Peak Gold JV and the Johnson Tract project [2].