Contango ORE, Inc. has announced a significant cash distribution from the Peak Gold JV, amounting to $21 million, received on June 25, 2025. This brings the total cash distribution to Contango's account to $54 million for the year to date. The Peak Gold JV has completed its second campaign for 2025, producing approximately 36,000 ounces of gold attributable to Contango, with a third campaign set to begin in August 2025. The company's President and CEO, Rick Van Nieuwenhuyse, reaffirmed the guidance for Contango's 30% share of Peak Gold JV's 2025 production at 60,000 ounces of gold. The life-of-mine average annual production is expected to be 58,750 ounces per year until 2029, with all-in sustaining costs estimated at $1,400 per ounce of gold sold. Contango plans to make an early principal payment of $7 million on its credit facility, reducing the balance to $23 million, and has early delivered 11,900 ounces of gold into July hedge contracts, lowering the hedge contract balance to 62,900 ounces. The remaining hedges at the end of 2025 are anticipated to be 43,000 ounces. The company now projects cash distributions from the Peak Gold JV to exceed $95 million for 2025, assuming a $3,100 per ounce spot gold price for the rest of the year. The increased cash flow will be utilized to bolster Contango's cash position, reduce debt, and fulfill hedge contracts while advancing permitting activities on the Johnson Tract project. Second quarter financial results are expected to be released in early August 2025.