Users are able to annotate Contours by drawing a line where labels are required across contours. Text labels are placed at the intersection of where the line crosses contours.
Pick Contours - Annotate tab...
Define the required Layer for the Annotation (default is set to 'Match contour line layer').
Define a Font Height as required. Note that by default, the option is selected to create contour labels in metres regardless of the units saved in settings.
Pick Create Annotation .