MTH:CC - Mammoth Reports 46.5 Metres Grading 0.51 g/t Gold Equivalent from Diamond Drilling at its Tenoriba Gold-Silver Property Mexico

(TheNewswire)

Toronto, Canada – TheNewswire - April 28, 2022 - Mammoth Resources Corp.(TSXV:MTH), (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to provide results from an additional three drill holesfrom its diamond drilling program at its 100% owned Tenoribagold-silver property located in the prolific Sierra Madre preciousmetal belt, Mexico.

The drill program is designed to test up to five targetzones which measure from hundreds of metres (m) 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 the press releasedated July 22, 2021).

An additional three diamond drill holes have been completed for atotal of 378.65 m bringing the total reported to date to 1,913.9 m in13 holes. Refer to Figure 1 -Location Map, Tenoriba PropertyDrilling, 2022 (drill holes TEN 21-01 to 21-14). Asummary of potentially economical intervals from the three drill holesfrom this press release are as follows.

* An additional interval, hole TEN 21-13 (49.5to 61.5 m) was added based on additional, recently obtained laboratorydata.

Thomas Atkins, President and CEO ofMammoth commented on the most recent drill results, stating: "With the exception of drillhole TEN 21-09, two of the three reported drill holes intersected tensof metres of potentially economical gold-silver mineralization. Inparticular, hole TEN 21-12 intersected 0.51 grams per tonne goldequivalent over an impressive 46.5 metres. These two drill holes, oneeach in the Moreno and Carneritos areas, are separated one from theother by over 2.5 kilometres. This distance serves to illustrate thelarge-scale potential of gold silver mineralization at Tenoriba. Hole TEN 21-09 which failed to intersect significant mineralizationwas collared 200 metres south of the intended TA-1 target due to thechallenging topography nearer the target.

“The drill contractor recentlyconcluded drilling activities at Tenoriba as the area hasn’treceived any meaningful amounts of rainfall since late 2021 and waterfor drilling was becoming increasingly scarce. A total of 27 holeswere drilled for a total of 3,240 metres. Results from the remaining14 drill holes, following up on previously reported holes from thisprogram, are expected to be released in the coming weeks.”

Richard Simpson, Mammoth’s VicePresident Exploration further commented on these results,stating: “ Although drill hole TEN 21-11 and 12 inthe Moreno area didn’t report lengthy intervals of copper mineralization similar tohole TEN 21-13, in the case of TEN 21-11 and similar to hole TEN21-10, there were a number of 1.5 metre sample intervals grading from0.1 to 0.2 percent copper possibly indicative of a copper porphyryroot to the higher elevation, High Sulphidation features observed inother locations at Tenoriba . ”

The drill holes from this release compliment drillintervals from the following ten previously released drillholes.

Notes: Gold Equivalent where silver grade is converted to gold grade at 75 g/t silver = 1 g/tgold = 13.0 lbs copper.

Mammoth attempts to drill as near perpendicular asbelieved to be the orientation of mineralized control features,however lengths shown are core lengths versus perpendicular, truewidths of these mineralized features.

Drill Hole Description:

Mammoth has initiallydrilled 2 to 4 holes at significant, up to 250 m drill spacings,within each target area then moved to another target area to drill asimilar number of holes (please refer to press release dated July 22,2021 for target zones). Company geologists were waiting the resultsfrom the initial 2 to 4 drill holes in a target area prior toreturning to the area to follow up drilling of these areas based onthe results from the initial holes. Where mineralized intervals areintersected in the initial sequence of drilling, or where holes failto encounter mineralization as suggested by the data, any follow updrilling will be based on field assessments combined with surfacegeology, sampling and geophysics data to assist in defining additionaldrill collar locations with the aim of assisting in more clearlyunderstanding and testing the controls and continuity to gold-silvermineralization.

Hole TEN 21-09 was collared in the Masuparia targetarea with the objective of testing the TA-1 resistivity anomalyhowever over 200 m south of the TA-1 resistivity anomaly due toextreme topography nearer the target. Hole TEN 21-11 was collared inthe Moreno target area with the objective of testing a highresistivity feature identified in the 3D geophysical modelling whichcoincides on surface to the mapped altered volcanic breccia and a rocksaw channel sample line which returned 16.5 m grading 0.38 g/t goldEq. Hole TEN21-12 was collared in the Carneritos target areawith the objective of testing mineralization below altered,gold-silver mineralized surface outcrops/sub-crops of volcanic brecciacoincident with a strong >0.1g/t gold soil anomaly, numerous>1.0 g/t gold rock chip samples and low resistivity/elevatedchargeability geophysical features at depth evident from the recent 3Dgeophysical modelling .

Drill Hole TEN 21-09

The hole was collared in the Masuparia target area,however over 200 m south of the TA-1 resistivity anomaly due toextreme topography nearer the target. Hole TEN 21-09 was drilled to adepth of 189.10 m of a planned 200 m at 80 degrees decline/dip,azimuth 180 degrees and was collared approximately 200 mwest-northwest of hole TEN 21-08.

The drill hole was collared to test a buriedresistivity anomaly identified in the 3D geophysical modelling which coincides on surface to a highly anomalous >0.1 g/tgold in soil anomaly. This geophysical resistivity anomaly wasinterpreted as a possible silicified and mineralized body in theproximity of the Metalito structure intercepted in hole TEN 21-08which returned 0.4 g/t gold equivalent (Eq) over 13.5 m.

Drill hole TEN 21-09 intercepted fresh looking volcaniclithic tuff with 1 to 3% of disseminated pyrite from top to bottom at189.10 m. The hole was not successful in identified the source of theresistivity anomaly identified in the 3D geophysical modelling nor anysignificant gold mineralization, silica and/or dickite alteration. Theburied resistivity anomaly which was interpreted as part of a highsulfidation epithermal mineralization system has not been confirmed,nor explained by this drilling.

Drill Hole TEN 21-11

The drill hole was collared in the Moreno target areaand drilled to a depth of 123.55 m of a planned 100.0 m at 80 degreesdecline/dip, azimuth 160 degrees and was collared approximately 230 msouthwest of holes TEN 17-03 and TEN 21-10. Hole TEN 21-11 wascollared to test a high resistivity feature identified in the 3Dgeophysical modelling which coincides on surface to the mapped altered(dickite and silica alteration) volcanic breccia. The hole was alsotesting below Moreno-2 rock saw channel sample line which returned16.5 m grading 0.38 g/t gold Eq.

Historic drill hole TEN 17-03 returned 7.2 m grading4.34 g/t gold Eq, including 3.6% copper and hole TEN 21-10 returned13.5 m grading 0.15 g/t gold Eq with intervals of copper.

Drill hole TEN 21-11 intercepted from surface to 54.6 mmoderately silicified volcanic breccia with abundant dickite filledfractures. From 54.6 to 103.0 m core was moderately argillic, lithiccrystal volcanic tuff with 2 to 7% disseminated pyrite and localmoderately intense silica alteration. Dacitic feldspar phyric unit,moderately to strongly silicified is present from 103.0 m to thebottom of the hole at 123.55 m. Silica /dickite alteration andmineralized intercepts are consistent with a High Sulfidationmineralizing system and warrant additional drill holes. Theresistivity anomaly identified in the 3D geophysical modellingcorrelates well with the silica alteration present in the hole.Although, the average gold bearing intercepts are relatively low thehole was a success in explaining the resistivity anomaly associatedwith volcanic breccia - dacite porphyry, thus the Moreno target areaand in particular the resistivity anomaly identified by the 3Dgeophysical survey remains a promising target. Additional holes arerecommended to continue evaluating this target’s potential.

Drill Hole TEN 21-12

The drill hole wascollared in the Carneritos target area and drilled to a depth of 66.0m of a planned 100.0 m at 65 degrees decline/dip, azimuth 180 degreesand was collared approximately 480 southwest ofhistoric drill hole TEN 17-06 and 250 m northeast of recently reporteddrill hole TEN 21-03 and was aimed at testing mineralization below altered(dickite and silica alteration), gold-silver mineralized surfaceoutcrops/sub-crops of volcanic breccia coincident with a strong>0.1g/t gold soil anomaly, numerous >1.0 g/t gold rock chipsamples and low resistivity/elevated chargeability geophysicalfeatures at depth evident from the recent 3D geophysicalmodelling.

Historic drill hole TEN 17-06 returned 126.8 m grading0.52 g/t gold Eq and recently reported hole TEN 21-03 returned 43.5 mgrading 0.59 g/t gold Eq, including 6.0 m and 4.5 m both grading 0.73g/t gold Eq.

From surface to the bottom of the hole the core wasweathered, generally highly fractured and oxidized with numerousgrinded core intervals with poor core recovery intercalated withhighly silicified volcanic breccia and a dacitic feldspar phyric unit.The bottom 18.0 m a post mineralization event fault is present wherecore is grinded with resultant poor core recovery. The hole wasabandoned at 66.0 m as the drill rods were tightening as they passedthrough the fault gouged rock and there became a heightened risk oflosing the hole. The hole was a success in testing themineralized/altered breccia and dacite porphyry present on surfacewhich remained mineralized until the bottom of the hole, in additionto demonstrating the existence of late-stage faults which displace themineralized volcanic-dacite porphyry host rock. Further drilling andmodeling are recommended in this area to continue investigating theeconomic potential of the High Sulfidation epithermal mineralizationsystem identified on surface and confirmed by this drilling.

Qualified Person / QualityControls:

Richard Simpson, P.Geo., Vice-President Exploration forMammoth Resources Corp. is Mammoth's Qualified Person, according toNational Instrument 43-101 for the Tenoriba property and isresponsible for and has reviewed any technical data mentioned in thisnews release.

Samples referenced in this press release were preparedand analyzed by ALS laboratories (ALS) in their facilities in Mexicoand Canada, respectively. Samples generally consisted of a minimum of2 kilograms of material. Drill core is mostly HQ diameter core withminor lengths of NQ diameter core. Core is sawn in half with a rocksaw with one half used for sample analysis purposes. Where samples aretaken these are most often 1.5 metres in length, only in poor recoverysections do they exceed this length, with rare exceptions exceeding amaximum of 4.5 metres in length. Samples are collected with sampleticket and deposited into plastic sample bags sealed with nylon ziplock ties, then loaded into grain sacs similarly sealed with a nylonzip lock tie prior to transport by Mammoth personnel to ALS’sfacility in Chihuahua, Mexico for sample preparation. Gold and silveranalyses are performed in ALS’s facility in Canada via a 30-gramfire assay with an atomic absorption finish. Silver, copper, lead andzinc are analyzed as part of a multi-element ICP package using a4-acid digestion. Any over limit samples with greater than one percentcopper, lead and zinc are re-analyzed using ore grade detectionlimits. Blank and duplicate samples are inserted randomly atapproximately every 15 samples.

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.

Figure 1 - LocationMap, Tenoriba Property Drilling, 2022 (drill holes TEN 21-01 to21-14)

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