MMMRF - Mammoth Announces Annual and Special Meeting Results and Closing of Private Placement

(TheNewswire)

Toronto, Canada - TheNewswire - February 3, 2021 - Mammoth Resources Corp.(TSXV:MTH), (OTC:MMMRF), (the “Company”, or “Mammoth”) ispleased to announce results of voting at its virtual annual andspecial meeting of shareholders which was held earlier today via Zoomconference facility (the “Meeting"). All matters submitted tothe shareholders for approval as set out in the Company's Notice ofMeeting and Information Circular, dated December 15 2020, wereapproved by a majority of votes cast at the Meeting. Matters beforethis meeting, include the following.

Number ofDirectors - shareholdersapproved the setting of the number of Directors atthree.

Election ofDirectors - shareholderselected the following slate of Directors: Thomas Atkins, RichardSimpson and Paul O’Brien.

Appointment ofAuditors - appointment ofDavidson & Company LLP, Chartered Accountants as Auditors of theCorporation for the ensuing year with their remuneration to be fixedby the Board of Directors.

Reconfirmation of theStock Option Plan -shareholders approved the Company's rolling 10% stock optionplan.

It should be noted that the Company haspreviously approved an Advance Notice Policy dealing with thenomination of Directors at an Annual General Meeting. A copy of theCompany’s Advance Notice Policy was attached to the InformationCircular to this Meeting.

Closing PrivatePlacement Financing

Mammoth was recently granted conditionalapproval by the TSX Venture Exchange (the “Exchange”) to close itspreviously oversubscribed $688,500 gross proceeds private placementfinancing (refer to press release dated January 21, 2021). The expirydate on the four-month hold period for the securities issued underthis private placement has been set as May 28, 2021. Upon providingthis announcement the Company anticipates receiving final approvalfrom the Exchange for closing this private placement.

Mammoth Resources toPresent at GCFF Virtual Conference - Precious Metals Day

The “GCFF Virtual Conference -Precious Metals Day” is a free online webinar which will be held onFebruary 4th 2021. The Conference is being held following the dramaticincrease in the gold price in 2020, and with it the reinvigorated goldand precious metals exploration mining sector. With new capitalflowing into precious metals companies in 2020, the results of theirexploration campaigns will present themselves in 2021. GFCC isoffering the opportunity for interested parties to learn about howthey might profit from gold, silver and other precious metalsexploration mining companies at the event.

The GCFF Virtual Conference - PreciousMetals Day is a free online webinar and will provide viewerswith:

• - High level macro-economic analysis onthe precious metals sector’s outlook in 2021,

  - Understanding the opportunitiespresented by the precious metals sector, and

  - Hearing directly from precious metalscompany CEOs about their projects.

Mammoth ResourcesPresident and CEO, Thomas Atkins will be presenting Feb 4, 2021 (THISTHURSDAY) 12:20 pm PST / 3:20 pm EST “ Commencing Field Explorationat the Tenoriba Property in Mexico.”

REGISTER HERE: https://gcff-feb-4-2021.eventbrite.ca/?aff=MTH

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 upto receive future press releases, please visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President and CEO 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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