MMMRF - Mammoth Adds Additional Drill Contractor for its Ongoing Drill Program at its Tenoriba Gold-Silver Property Mexico

(TheNewswire)

Toronto, Canada – TheNewswire - January 12, 2022 - Mammoth Resources Corp.(TSXV:MTH), (OTC:MMMRF) (the “Company”, or “Mammoth”) is pleased to provide an update on diamond drill explorationactivities at its 100% owned Tenoriba gold-silver property located inthe prolific Sierra Madre precious metal belt, Mexico.

Following a break for the Christmas/New Year holiday period the drillcontractors have returned to the project and earlier this weekrecommenced drilling. As of mid December 2021, there are now two drillcontractors drilling at Tenoriba. Mammoth contacted various drillcontractors in late September 2021 to supplement the initialcontractor which mobilized drill equipment and crews to Tenoriba inmid-August 2021. Following six weeks of drilling and despite thechallenges of a heavy rainy season, Mammoth took the decision toapproach other drill contractors to provide some additional support inthe execution of the drill program as the initial selected contactorwas unable to sustain either water supply, or mechanical availabilityof the two drill rigs initially mobilized to Tenoriba. Of the variousdrill contractors contacted only one was able to commit to Tenoriba ina reasonable time. In early October this contractor performed a sitevisit to enable quoting on the program, terms were agreed soonthereafter however due to various Covid-19 related supply challengesin procuring certain materials and consumables, equipment and crewdidn’t mobilize to site until early December. A single drill holewas completed by this additional contactor prior to the holiday break.It has been agreed with the initial drill contractor that no paymentwill be made on the mobilization nor demobilization of the seconddrill rig that failed to perform consistently while at Tenoriba.

On December 2, 2021, Mammoth announced the granting of an additionaldrill permit to cover an additional 183 drill hole locations inportions of Tenoriba not covered in a prior drill permit applicationgrant. Mammoth had been conducting recently announced drilling underthis earlier permit. This additional drill permit expands upon thisinitial permit both in size of the area to be drilled, plus brings thetotal number of permitted drill hole locations to 321 over the entireapproximately 6-km trend of surface gold-silver mineralization sampledin thousands of soil, chip and channel samples at Tenoriba.

Core samples for an additional 4 drill holes completed prior to theholiday break are at the assay laboratory with the last samplesdelivered to the laboratory just prior to the holiday. Theseadditional 4 drill holes are targeting extensions to priormineralization at the central - Masuparia area of the project where anumber of prior drill holes intercepted tens of metres (m) ofpotentially economical gold equivalent (gold Eq), gold-silvermineralization - where silver is converted to gold at 75 grams pertonne (g/t) silver equals one g/t gold, over an approximate 200 mstrike length at vertical depths of less than 100 m, including:

• TDH - 07 grading 2.17 g/t gold Eq over 47 m,

• TDH - 11 grading 0.92 g/t gold Eq over 41 m,

• TDH - 14 grading 0.69 g/t gold Eq over 40 m,

• TEN 17 - 04 grading 0.63 g/t gold Eq over 45 m, and

• TEN 17 - 05 grading 1.32 g/t gold Eq over 23 m.

Thomas Atkins, President and CEO ofMammoth commented on the addition of the new drill contractor,stating: “ Six weeks from the date upon which our originally selected drillcontractor mobilized its drill rigs to Tenoriba, and despitechallenges due to unusually heavy rain during the rainy season, itbecame apparent to us that we were unlikely to get the levels ofproduction we’d hoped would be achieved based on the performancewe’d seen up to that time by this contractor. As a result, we tookthe decision in late September to reach out to various other drillcontractors to supplement equipment and personnel to enhance drillproduction. Although we made initial contact with various contractorsin early October and following a site visit soon thereafter and ouragreeing to contact bid terms by mid October, it wasn’t until earlyDecember that drill equipment and crew were mobilized to Tenoriba andwere set up to drill. Although only having drilled for a couple ofweeks in December prior to the holiday break, the new contractor hasto date performed well, which with the original contractor shouldreinforce drill production over the coming months of 2022.

“An additional four holes havebeen drilled in the central - Masuparia area of Tenoriba, following upfrom four holes drilled in the eastern - Carneritos area of thefour-kilometre trend of surface mineralization to be drill tested aspart of this program. Results are beginning to trickle in from theseadditional four holes and we hope to be able to announce these resultsshortly.

“Drilling will soon move to thewestern - El Moreno area of the project, which following ourcompleting three to five holes at Moreno we intend to return toCarneritos to follow up on the initial four holes drilled as part ofthis program.”

The 2021 - 2022 drill program is designed to test up to five targetzones which measure from hundreds of metres to over one kilometre (km)in strike length along a 4 km, east-west trend of gold-silvermineralization identified in 3-dimensional (3D) modellingincorporating data from over 3,000 soil, chip and channel samples, 26prior diamond drill holes, geological and structural mapping and thepotential continuity at depth of surface mineralization as indicatedby an Induced Polarization/Magnetometer (IP/Mag) geophysical survey(please refer to the descriptions of target zones in press releasesdated July 22, 2021). Beyond this 4 km trend select data (surface soiland chip samples and Magnetometer geophysics) exists which provideinformation upon which additional targets may be developed.

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metalmineral exploration Company focused on acquiring and defining preciousmetal resources in Mexico and other attractive mining friendlyjurisdictions in the Americas. The Company holds a 100% interest(subject to a 2% net smelter royalty purchasable anytime within twoyears from commencement of commercial production for US$1.5 million)in the 5,333-hectare Tenoriba gold property located in the SierraMadre Precious Metal Belt in southwestern Chihuahua State, Mexico.Mammoth is seeking other opportunities to option exploration projectsin the Americas on properties it deems to host above average potentialfor economic concentrations of precious metalsmineralization.

To find out more about Mammoth Resources and to sign up to receivefuture press releases, please visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President andCEO at: 416 509-4326.

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

Forward Looking Information: This news release maycontain or refer to forward-looking information. All information otherthan statements of historical fact that address activities, events ordevelopments that the Company believes, expects or anticipates will ormay occur in the future are forward-looking statements; examplesinclude the listing of its shares on a stock exchange and establishingmineral resources. These forward-looking statements are subject to avariety of risks and uncertainties beyond the Company's ability tocontrol or predict that may cause actual events or results to differmaterially from those discussed in such forward-looking statements.Any forward-looking statement speaks only as of the date on which itis made and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although the Company believesthat the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and, accordingly, undue reliance should not be placed onthese forward-looking statements due to the inherent uncertaintytherein.

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