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THE JOURNAL - AN OFFICIAL PUBLICATION BY THE ALASKA MINERS ASSOCIATION
DECEMBER 2025 | WWW.ALASKAMINERS.ORG
for both Contango and Dolly Varden shareholders given the complemen- tary and synergistic nature of our North American asset portfolios. With the Manh Choh Gold Mine providing significant cash flows in a strong gold and silver price environ- ment, the combined company will have a source of non-dilutive fund- ing to advance development of its high-grade Lucky Shot and Johnson Tract projects in Alaska and Kitsault Valley project in British Columbia. Kitsault Valley and Johnson Tract are particularly synergistic as both are high grade, have similar metal- lurgy, are located near tidewater and fit the Direct Shipping Ore ("DSO") model. In addition, both have tre- mendous exploration upside. With Dolly Varden's cornerstone land position in the Golden Triangle, one of the most exciting and prospective mining districts in the world, we see great potential to expand resourc- es and advance Kitsault Valley to production."
Choh gold mine in Alaska as well as several high-grade silver and gold projects located in British Columbia and Alaska including the Kitsault Valley and Johnson Tract projects. Upon completion of the Transaction, existing Contango and Dolly Varden shareholders will each own approx- imately 50% of the outstanding shares of MergeCo, on a fully diluted in-the-money basis. MergeCo is expected to be renamed Contango Silver & Gold Inc. and will be led by Van Nieuwenhuyse as CEO, Shawn Khunkhun as President and Mike Clark as Executive Vice Presi- dent and CFO. The board of directors of MergeCo (the "MergeCo Board") will include Clynt Nauman as Chairman, Brad Juneau, Darren Devine, Mike Cinna- mond, Tim Clark, Van Nieuwenhuyse and Shawn Khunkhun. Van Nieuwenhuyse said: "This merger is an exciting transaction
FAST-41 program, as the State and Federal governments work together to identify projects for coverage in addition to providing the State of Alaska with a wide variety of support for increased transparency, coordi- nation, and accountability. Contango, Dolly Varden Silver Announce Merger to Create North American High-Grade, Mid-Tier Silver & Gold Producer and Developer Contango and Dolly Varden Silver Corporation also announced an arrangement agreement to com- bine Contango and Dolly Varden on a merger-of-equals basis pursuant to a statutory plan of arrangement under the Business Corporations Act. The combination of Contango and Dolly Varden (the combined entity referred to as "MergeCo") would provide investors with a unique opportunity to participate in the upside of a well-funded North American asset portfolio consisting of the cash flowing high-grade Manh
Johnson Tract Critical Metals Project to be 'covered project' in FAST-41 Program
C ontango ORE, Inc. announced in early December the accep- tance of the Johnson Tract Critical Metals Project as a "covered project" into the Federal Permitting Improvement Steering Council's FAST-41 program. Rick Van Nieuwenhuyse, the Com- pany's President & CEO said: "Con- tango would like to thank the Per- mitting Council and the U.S. Army Corp of Engineers (USACE) for including the Johnson Tract Critical Metals Project to the full coverage projects list in the FAST-41 program. "We look forward to working closely with the USACE, cooperating State and Federal agencies, and CIRI and their stakeholders. We are commit- ted to advancing the Johnson Tract
Critical Metals Project through the permitting process with enhanced coordination, predictable timelines, improved public transparency, and accountability to ensure this proj- ect meets the highest standards of environmental stewardship and regulatory compliance. "We appreciate the Council's contin- ued guidance and partnership, and we look forward to ongoing engage- ment as the Johnson Tract Critical Metals Project progresses under the FAST-41 covered projects framework." FAST-41 is the name for Title 41, established in 2015, of the Fixing America's Surface Transportation Act passed under the Obama Admin- istration, which aims to improve the federal permitting process for large
infrastructure projects by increas- ing transparency, coordination, and accountability. It establishes a structured process and a public-facing Permitting Dashboard to track projects, coordinate among agencies, and set public timetables for environmental reviews and autho- rizations and is led and managed by the Federal Permitting Improvement Steering Council (Permitting Coun- cil). This helps ensure projects move forward efficiently and predictably. Furthermore, on Aug. 27, 2025, the Permitting Council announced a first- of-its-kind agreement with the State of Alaska by way of a Memorandum of Understanding (MOU). This MOU provides for federal per- mitting assistance through the
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