Mr. Darwin Green reports

HIGHGOLD MINING RECEIVES FINAL ORDER FOR PLAN OF ARRANGEMENT FOR CONTANGO TRANSACTION

Highgold Mining Inc. has obtained a final order from the Supreme Court of British Columbia, approving the previously announced arrangement involving the company and Contango ORE Inc.

In connection with the arrangement, each shareholder of Highgold will receive 0.019 of a share in the common stock of Contango in exchange for each common share of Highgold held by such Highgold shareholder. As previously disclosed in the company's press release dated June 27, 2024, the special resolution authorizing the arrangement was approved by securityholders of Highgold at a special meeting held on June 27, 2024.

Subject to the satisfaction of certain customary 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 and on the company's website.

About Highgold Mining Inc.

Highgold is a mineral exploration company focused on advancing the high-grade Johnson Tract gold-zinc-copper project located in accessible south-central Alaska, United States. 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.

About Contango ORE Inc.

Contango is a NYSE American-listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30-per-cent interest in the Peak Gold LLC, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70 per cent owned by an indirect subsidiary of Kinross, operator of the Peak Gold joint venture. The company also has a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc., and through its subsidiary has 100-per-cent ownership of approximately 8,600 acres of peripheral Alaska mining claims. Contango also owns a 100-per-cent interest in an additional approximately 145,000 acres of Alaska mining claims through its wholly owned subsidiary, which gives Contango the exclusive right to explore and develop minerals on these lands.

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