Contango Ore, Inc. (CTGO: OTCQB) | Contango ORE, Inc. Announces Earnings for the Quarter Ended December 31, 2014

OTC

Contango ORE, Inc. Announces Earnings for the Quarter Ended December 31, 2014

Feb 06, 2015

OTC Disclosure News Service

Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB:CTGO) announced
today that it filed its Form 10-Q for the quarter ended December 31,
2014 with the Securities and Exchange Commission.

The Company reported a net loss of $0.7 million or $(0.17) per basic and
diluted share for the three months ended December 31, 2014 compared to a
loss of $1.6 million or $(0.43) per basic and diluted share for the same
period last year.

The Company reported a net loss of $1.6 million or $(0.45) per basic and
diluted share for the six months ended December 31, 2014 compared to a
loss of $7.8 million or $(2.07) per basic and diluted share for the same
period last year.

While the Company substantially reduced its loss because the Company did
not carry out an exploration program in 2014, the Company incurred
greater legal and professional expenses related to the formation and
stockholder approval in early January 2015 of a joint venture, Peak
Gold, LLC, with Royal Gold, Inc. for the exploration and development of
its Peak zone gold ore discovery on its Tetlin properties near Tok,
Alaska.

Brad Juneau, President and CEO of the Company, commented “Royal Gold has
contributed an initial $5 million to Peak Gold and has begun targeting
its exploration program at the Peak discovery zone for the 2015 summer
season. We are excited to be associated with such an experienced partner
with sophisticated technical resources and look forward to more fully
delineating the scope of our Peak zone gold ore discovery and exploring
new ore deposits.”

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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