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Contango ORE, Inc. Announces Earnings

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Contango ORE, Inc. ("CORE" or the "Company") (OTCQB:CTGO) announced
today it filed its Form 10-K for the year ended June 30, 2018 with the
Securities and Exchange Commission.

The Company reported a net loss of $6.2 million or $1.09 per basic and
diluted share for the year ended June 30, 2018 compared to a loss of
$2.8 million or $0.62 per basic and diluted share for the same period
last year. The increase in the net loss is primarily due to resumption
of the Company making capital contributions to Peak Gold, LLC, as a
result of Royal Gold earning its full 40% interest in the joint venture.
Accordingly, the Company has resumed recognizing its allocable share of
the Peak Gold, LLC losses. The increase in net loss is also due to an
increase in non-cash stock compensation expense resulting from higher
stock prices.

Our President and CEO, Brad Juneau said, "We expect to receive the
Preliminary Economic Assessment ("PEA") on our Main Peak and North Peak
areas by the end of September 2018. Exploratory drilling is ongoing at
Peak Gold Project, to evaluate a porphyry prospect at North Saddle
located approximately 2 kilometers north of our North Peak resource
area. Assays have been received on the 2 O'Clock and 8 O'Clock skarn
prospects with no significant gold intercepts encountered."

About CORE

CORE is a Houston-based company that engages in the exploration in
Alaska for gold and associated minerals through Peak Gold, LLC, its
joint venture company with Royal Gold, Inc. Additional information can
be found on our web page at www.contangoore.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding CORE
that are intended to be covered by the safe harbor "forward-looking
statements" provided by the Private Securities Litigation Reform Act of
1995, based on CORE's current expectations and includes statements
regarding future results of operations, quality and nature of the asset
base, the assumptions upon which estimates are based and other
expectations, beliefs, plans, objectives, assumptions, strategies or
statements about future events or performance (often, but not always,
using words such as "expects", "projects", "anticipates", "plans",
"estimates", "potential", "possible", "probable", or "intends", or
stating that certain actions, events or results "may", "will", "should",
or "could" be taken, occur or be achieved). Forward-looking statements
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties, which could cause actual
results to differ materially from those, reflected in the statements.
These risks include, but are not limited to: the risks of the
exploration and the mining industry (for example, operational risks in
exploring for, developing mineral reserves; risks and uncertainties
involving geology; the speculative nature of the mining industry; the
uncertainty of estimates and projections relating to future production,
costs and expenses; the volatility of natural resources prices,
including prices of gold and associated minerals; the existence and
extent of commercially exploitable minerals in properties acquired by
CORE; potential delays or changes in plans with respect to exploration
or development projects or capital expenditures; the interpretation of
exploration results and the estimation of mineral resources; the loss of
key employees or consultants; health, safety and environmental risks and
risks related to weather and other natural disasters); uncertainties as
to the availability and cost of financing; inability to realize expected
value from acquisitions; inability of our management team to execute its
plans to meet its goals; and the possibility that government policies
may change or governmental approvals may be delayed or withheld,
including the inability to obtain any mining permits. Additional
information on these and other factors which could affect CORE's
exploration program or financial results are included in CORE's other
reports on file with the Securities and Exchange Commission. Investors
are cautioned that any forward-looking statements are not guarantees of
future performance and actual results or developments may differ
materially from the projections in the forward-looking statements.
Forward-looking statements are based on the estimates and opinions of
management at the time the statements are made. CORE does not assume any
obligation to update forward-looking statements should circumstances or
management's estimates or opinions change.

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