Mr. Darwin Green reports

HIGHGOLD REPORTS SHAREHOLDERS VOTE OVERWHELMINGLY IN FAVOR OF CONTANGO TRANSACTION

Highgold Mining Inc.'s shareholders and optionholders overwhelmingly approved the previously announced arrangement involving the company and Contango ORE Inc. at the company's special meeting held today.

At the Meeting, the special resolution approving the Arrangement was approved by 93.69% of the HighGold Shareholders, 94.39% of the HighGold Securityholders voting as a single class, and 93.55% of the HighGold Shareholders, excluding votes required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Accordingly, the HighGold Securityholder approval required to proceed with the Arrangement has been obtained.

"We are very pleased to have this transaction overwhelmingly approved by our voting shareholders," said Darwin Green, President & Chief Executive Officer. "We look forward to receiving all necessary approvals to close the transaction and enable Contango to proceed with its plans for the JT Project this year. We sincerely believe that this is a win-win transaction, and that HighGold shareholders will benefit from participating in the beginning building blocks of a unique business model in the mining industry with a management team with demonstrated success."

The Company will seek a final order approving the Arrangement from the Supreme Court of British Columbia on July 2, 2024. Closing of the Arrangement remains subject to satisfaction of certain customary closing conditions, including receipt of final court, stock exchange and regulatory approvals. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement on or around July 9, 2024.

Further details regarding the Arrangement, including principal closing conditions and the anticipated benefits to HighGold Shareholders, can be found in the Company's management information circular dated May 29, 2024 in respect of the Meeting, which can be found under the Company's SEDAR+ profile at www.sedarplus.ca and on the Company's website.

About HighGold

HighGold is a mineral exploration company focused on advancing the high-grade Johnson Tract Gold- Zinc-Copper Project located in accessible Southcentral Alaska, USA. HighGold's experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration. Additional information can be found on its web page at www.highgoldmining.com.

About Contango

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold, LLC (the "Peak Gold JV"), which leases approximately 675,000 acres of land for exploration and development on the Manh Choh Project, with the remaining 70% owned by an indirect subsidiary of Kinross, operator of the Peak Gold JV. The Company also has a lease on the Lucky Shot Project from the underlying owner, Alaska Hardrock Inc. and through its subsidiary has 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims. Contango also owns a 100% interest in an additional approximately 145,000 acres of State of Alaska mining claims through its wholly owned subsidiary, which gives Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.

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