Investor Presentaiton
Manh Choh Gold Project: Anticipated Economics
8525.08
Model Assumptions per Contango Manh Choh SK 1300 Report¹
CONTANGO ORE
GOLD SILVER COPPER
Using existing infrastructure at Fort Knox, Peak Gold is planning on a H2 2024 start date
Production estimate of 914,000 GEO over a 4.5-years equating to roughly 225,000 gold equivalent
to rou
ounces ("GEO") per annum (30% to Contango Ore = +274,000 GEO or 67,500 GEO/Yr)¹
Average processed grades expected to be ~8 g/t Au
•
Capital Costs
be
17.27
→ Initial $189 million (including $14M Contingency) for Peak Gold - Contango's Share: $56.8
million
→ $26 million Capitalized Strip - Contango: $7.8 million
Total Capital Costs to Contango = $64.6 million based on the Manh Choh SK 1300 Report¹
6440.08
1012
Operating Costs - Contango AISC = $1,116/GEO¹
11
6023.08
1
See Contango's SK1300 Manh Choh Technical Report Press Release dated May 26, 2023; Initial capex reflects the Kinross feasibility study reported in "Q2 Corporate Update" Press Release and Corporate Presentation dated July 26 and 27, 2022; The optimization for
the mineral reserve estimate assumed a $1,300 per ounce gold price; the $189 million estimate reflects remaining funds to be expended between 2022 and 2024; there will be additional capital required at Fort Knox to accommodate Manh Choh ore; and is a Toll Milling
charge to the Peak Gold JV; "All-in sustaining cost (AISC) per equivalent ounce sold" is a non-GAAP ratio. "GEO" refers to Gold Equivalent Ounces. See: https://www.contangoore.com/press-release/contango-ore-announces-completion-of-s-k-1300-technical-report-
summary-for-its-manh-choh-project-in-Alaska. The information contained in, or otherwise accessible through, the links are not part of, and are not incorporated by reference into this investor presentation.View entire presentation