Project Title: Contango Ore Johnson Tract Critical Metals Project
Sector: Mining

Project Location Address:
• 40 miles West of Ninilchik Alaska on the west side of Cook Inlet
Coordinates:
• Latitude: 60.1008805556 N Longitude: -152.8780055556 W
Project Sponsor Contact Information:

• Company Name/Agency: Contango Ore Inc. Project Sponsor: J T Mining Inc., a wholly owned subsidiary of Contango Ore Inc. Street Address: 516 2nd Avenue, Suite 401 City: Fairbanks State: Alaska Zip: 99701 POC Name: Rick Van Nieuwenhuyse POC Title: President & CEO POC Work Phone: 907-888-4273 POC Email Address: rickvann@contangoore.com
Alternative Point Of Contact (Optional):

• Company Name/Agency: Contango Ore Inc. Project Sponsor: J T Mining Inc., a wholly owned subsidiary of Contango Ore Inc. Street Address: 516 2nd Avenue, Suite 401 City: Fairbanks State: Alaska Zip: 99701
POC Name: Bonnie Broman POC Title: Director of Communications POC Work Phone: 907-888-4273 POC Email Address: bonnie.broman@contangoore.com

Project Purpose: Contango Ore Inc (Contango) is in advanced development and planning stages for the Johnson Tract Critical Metals Project (the Project) – which includes Copper, Zinc, Gold, Silver, and Lead. Contango plans to construct a small footprint underground mining operation and achieve production to provide a domestic source of critical minerals for the United States further supporting President Trump’s Executive Order to boost American critical minerals production.

Project Description: The Johnson Tract Project is located at 60.1008805556 N, -152.8780055556 W on lands owned by Cook Inlet Regional Inc. (CIRI), an Alaska Native Corporation established under the Alaska Native Claims Settlement Act (ANCSA). Transportation and port easements for access to- the Johnson Tract property were granted to CIRI by the National Park Service across Lake Clark National Park and Preserve lands as required under the Cook Inlet Land Exchange to access the coast for shipment of the mining products.
Socioeconomic effects as a result of the proposed Project would likely occur within Census Tract 1 of the Kenai Peninsula Borough. There are no incorporated cities, towns, or communities within a 20-mile vicinity of the Project. The nearest community to Johnson Tract is located approximately 40 miles from the Project across Cook Inlet.
Western Cook Inlet is a sparsely populated area, with a 2020 population of 214 individuals. It has seen a large decrease in population, with 373 people occupying the area in 2010. This is an annual rate of loss of 5.4%, at a time when both the Kenai Peninsula Borough and the State of Alaska increased in population. Contango’s planned investment of $300 Millon would be one of the largest ever to this area bringing many economic benefits, including creating high-paying jobs (estimated at 200-250 personnel) during the years of construction (two years) and operation (approximately eight years).
The proposed mining method at Johnson Tract is underground long-hole stoping complemented by backfilling of the stopes to mitigate the risk of surface subsidence. In addition to the mining infrastructure, there will be a year-round camp to support up to 250
people working on a rotational basis. Site infrastructure will include roads, airport with IFR, and ancillary maintenance facilities. There will be no tailings or milling facility as this is entirely anticipated as a direct shipping ore scenario whereby the ore is mined, placed into sealed containers, transported to the coast via the CIRI transportation easement and placed on barges for offsite processing. A barge loading facility will be established on CIRI’s port easement along Tuxedni Channel.
Contango has conducted cultural resource surveys across the easement lands and adjacent federal lands. These surveys were conducted, with tribal monitors, consistent with the Alaska State Historic Preservation Office and Department of the Interior standards. Based on surveys conducted to date, there are no findings of prehistoric cultural resources within the expected disturbance footprint. Cultural resource surveys of potential access routes also did not find any prehistoric cultural resources. Surveys will be ongoing throughout the Project development timeline. Although there are no tribes located in the immediate vicinity of the Project, Contango Ore recognizes and respects historic tribal affiliations in the area and is proactively engaging with local tribes in addition to working with CIRI.
Biodiversity and environmental baseline monitoring has been ongoing since 2020. The Cook Inlet beluga whale has been identified as a Distinct Population Segment (“DPS”) at risk, and the Company is collecting data in Tuxedni Bay and Tuxedni Channel to better understand how to minimize potential impacts to this ESA sub-species. The Johnson Tract Project is being designed to avoid and minimize adverse impacts to biodiversity and critical habitat in the area.
Technical and Financial Ability:
Statement regarding the technical and financial ability of the project sponsor to construct the proposed project.
Contango is headquartered in Fairbanks, Alaska, and is a mining and metals company listed on the New York Stock Exchange and has a market capitalization of ~ $375 million as of October 2025 and currently generates over $100 million in free cash flow from its other mining operations. Contango has established banking relationships with both domestic and international financiers and is capable of fully funding development of the Johnson Tract Critical Metals Project. Our team consists of a Board of Directors with extensive backgrounds in mining, mine financing, legal, corporate governance, and capital markets. Our management team has extensive experience of mine construction and operations, as
well as exploration, and have been working in Alaska for over 40 years. Members of our team also have extensive experience working with local communities and in particular Alaska native corporations and tribes.
Since initiating exploration activities in 2018, Contango has demonstrated a sustained financial commitment to the development of the Project, with approximately $50 million invested to date. This investment reflects not only the commitment and capacity to advance the Project through development, but also the Company’s readiness to transition into the construction phase once key permits are secured. The Company has completed an Initial Assessment under SK1300 guidelines, demonstrating the economic viability of the Project. For a more complete description, please see our Initial Assessment (SEC Technical Report Summary Initial Assessment of the Johnson Tract Polymetallic (Gold, Zinc, Copper, Silver, Lead) Project, Alaska) located at: https://cdn.prod.website-files.com/5fc5d36fd44fd675102e4420/6821f7b4e19f1e3d7995598c_Johnson%20Tract%20Project%20-%20SK1300%20Technical%20Report%20Initial%20Assesment%20-%20May2025.pdf
Summary of Financing, Reviews and Authorizations:
• Federal Financing Contango Ore is not currently seeking any federal funding at this time.
• Environmental Reviews and Authorizations The Project is currently permitted for exploration activities and associated infrastructure at the Johnson Camp. Special Use Permits (SUPs) have been in place annually to support baseline data collection activities on NPS-administered public lands associated with easement areas.
The Federal permitting process has begun and the Project sponsor expects the NPS will be the lead Federal agency; however, the USACE will undoubtedly have a significant permitting role as well. The Project permitting includes permits to construct and operate a transportation corridor, a port facility, and mine operations.
The surface lands and mineral rights of the Project are owned by CIRI, and easements for a port site and transportation corridor to connect the mine with Tuxedni Channel have been granted and are administered by the U.S. Department of the Interior (USDOI) National Park Service (NPS), Lake Clark National Park and Preserve (LCNPP) (Figure 1).
Figure 1 Mine Area (South Tract) and Easement Locations
Use of the easements to conduct planning phase activities necessary to design, engineer, and permit the Project have been authorized in a NPS Decision Record dated January 15, 2025. A single transportation route (either the North Corridor or the South Corridor) and single associated port site will be selected before the construction phase begins. Once construction is complete, the easement will be reduced to what is required for operations.
Construction of the proposed mine facilities located on land owned by CIRI, and the proposed transportation corridor and port easements located on land administered by the NPS, will require terrain modification and discharge of clean fills. The USACE will have authority over wetlands authorized under Section 404 of the CWA. A Section 10 permit issued by USACE is needed for the barge facility.
• Permitting Requirements for Mine Development
Due to the proposed easements being located on public land administered by the NPS, as well as the presence of WOTUS within the proposed Project area, authorization of the mine
will be subject to NEPA review and disclosure process under an Environmental Assessment (EA) or an Environmental Impact Statement (EIS).
As the Project moves toward the development of feasibility-level engineering studies, additional and comprehensive environmental baseline studies will need to be prepared and used to inform consultation with stakeholders and regulators for review under NEPA. In addition to the NEPA process, completion of the following permit applications and consultations will likely be required prior to authorization of the proposed mine, transportation corridor, and port facility:
Federal Permit Applications and Consultations (including government to government consultation with tribes):
• U.S. Army Corps of Engineers (USACE)
o Clean Water Act (CWA) Section 404, Dredge and Fill Permit
o Rivers and Harbors Act Section 10 Permit, Structures and work in navigable waters
o Nationwide General Permit (e.g. NWP 6 for Survey Activities) for baseline activities
• National Oceanic and Atmospheric Administration (NOAA)
o Magnuson-Stevens Fishery Conservation and Management Act - Essential Fish Habitat (EFH) Consultation
• U.S. Fish and Wildlife Service (FWS) and NOAA
Endangered Species Act (ESA) Authorization and Section 7 Consultation
o Marine Mammal Protection Act (MMPA) Authorization
o Incidental Take Authorization for Port Facility construction
o Bald and Golden Eagle Protection Act (BGEPA) Permit - Eagle disturbance or nest take
• U.S. Coast Guard (USCG)
o Structure review on piers
o Private Aids to Navigation Authorization
• Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF)
o Explosives Storage and Use Permit
• National Park Service (NPS)
o Administers the terms and conditions of the easement deeds
o Signatory of Programmatic Agreement (for easement activity only)
o Archaeological Resources Protection Act (ARPA) Permits for cultural resources work
o Special Use Permits for work on NPS lands outside of easement boundaries
o Will participate in review processes of all other gov agencies
State of Alaska Applications and Consultations:
• Alaska Department of Natural Resources (ADNR)
o Temporary Water Use Authorization
o Reclamation Plan Approval
o Tidelines Lease for port infrastructure on state-owned tidelands
o Temporary Land Use Permits for baseline work
o Water Right Permit (camp use)
o Section 106 Consultation - National Historic Preservation Act (NHPA) (via SHPO)
• Alaska Department of Environmental Conservation (ADEC)
o Alaska Pollutant Discharge Elimination System (APDES) for wastewater discharge
o Waste Management Permit
o Air Quality Permit for power generation and fugitive emissions in Class I Attainment Area
o Clean Water Act Section 401 Water Quality Certification for the construction and installation activities in waterways
o Minor General Permit 9 (MG9) for rock crushers
o Multi Sector General Permit for stormwater discharge
o Spill Prevention Control and Countermeasure (SPCC) Plan
o Wastewater, Drinking Water, Solid Waste and Food Service Permits for camp
• Alaska Department of Fish and Game (ADFG)
o Title 16 Fish Habitat Permits
o Aquatic Resources Permit for baseline sampling
o Wildlife Hazing Permit
o NEPA review / comment
Project Assessment:
The Project will benefit from FAST-41 oversight as it complies with multiple federal permitting protocols. The Project meets the definition of a covered project under in 42 U.S.C. §4370m(6)(A) of the FAST Act as it:
1. Due to the proposed easements being located on public land administered by the NPS, as well as the presence of WOTUS within the proposed Project area, Contango’s Johnson Tract Critical Metals Project will be subject to NEPA review and numerous other federal and
state authorizations will be required. 2. Contango estimates that the total cost to construct the Johnson Tract Critical Metals Project will be approximately $250 to $300 million. 3. The Johnson Tract Critical Metals Project does not qualify for abbreviated authorization or environmental review processes under any applicable law.
4. The Johnson Tract Critical Metals Project mine infrastructure is located on lands owned by CIRI. These CIRI owned lands were specifically selected for mineral development. The transportation corridor and port facility easements are on lands owned and administered by the NPS which includes WOTUS.
The Contango Ore Johnson Tract Critical Metals Project falls within the mining sector (limited to “extracting ore, minerals or raw materials from the ground”).