MMMRF - Mammoth Resources Secures Two Year Surface Access Agreements at Tenoriba Project Mexico and Provides An Update on Other Project and Corporate Activities
(TheNewswire)
Toronto, Canada - TheNewswire - December 21, 2020 - Mammoth Resources Corp.(TSXV:MTH) (OTC:MMMRF) , (the“Company”, or “Mammoth”) ispleased to announce that following a community meeting heldyesterday, Sunday, December 20, 2020, the second of the twocommunities (ejidos) upon which the Company’s 100% owned Tenoribagold-silver exploration project resides, voted in favour of a two-yearsurface access agreement to conduct exploration activities atTenoriba. The first of the two ejidos had previously grantedauthorization to conduct such activities, announced in a press releasedated November 5, 2020. With the Company and the two ejidos reachingagreement on this surface access, Mammoth is free to advance itsexploration activities and execute on its plans to further drill testthe approximate 4 to 6 kilometres of gold-silver mineralization atTenoriba subject to approval of the drill permit application to drillup to 139 drill locations. Mammoth expects to announced approval ofthis drill permit application in the near future.
Commenting on having gained thissurface access, Thomas Atkins, President and CEO of Mammothstated: “We’re verypleased to have this vote of confidence from the second of the twoejido communities for surface access to explore the Tenoriba propertyfor the next two years. This access in place enables Mammoth toconduct its exploration activities while doing so offer employment tonumerous community members coincident with these explorationactivities. Mammoth is also pleased to announce that during the termof the agreements the Company will be making contributions towards anumber of community benefit programs and looks forward to reporting onthese contributions. Mammoth will also be providing assistance to anumber of the most vulnerable inhabitants of both ejidos. Mammothgreatly appreciates this vote of confidence and looks forward toworking with these communities.”
Given the timing of thisannouncement with the holiday season I would be remiss if I didn’talso take this opportunity, on behalf of all of Mammoth’s employees,to wish a happy holiday to the Company’s many stakeholders and Iwish these same people a healthy, happy and prosperous 2021!”
Update on Other Project and CorporateActivities:
As previously announced on November 5, 2020,Mammoth engaged the services of a PhD geologist with extensiveexperience in Low, Intermediate and High Sulphidation epithermalprecious metal systems to review all historical data from the Tenoribaproperty. This consultant has reviewed this data and spent close to aweek at the project observing surface features and mapping historicdrill core. Mammoth expects to announce the results of this review,including recommendations on future exploration opportunities andactivities, early in the new year. Once available the report will beposted to the Company web site.
The Company is also pleased to announce that it hasentered into a consulting agreement with Ms. Sandra Evans to provideservices to the Company as its new Chief Financial Officer. Ms. Evansis a financial professional with 30 years experience in the energy,mining and manufacturing industries, both domestically andinternationally. Her skills incorporate all levels of controllership,treasury and internal control governance. Her work, with a variety ofhighly successful international exploration and production companies,has demonstrated her ability to work across cultural differences andlanguage barriers to deliver sound financial products and controls.Ms. Evans is a CPA, CGA trained accountant and has previously servedas the CFO for several TSX.V listed companies. Ms. Evans has over 15years of experience in the oil and gas and mining sectors withresponsibility for business plans, budgetary control, audits, projectmanagement and International Financial Reporting Standards and theirapplication to multi-national teams. The Company is pleased to haveMs. Evans join Mammoth and warmly welcomes her to the team. TheCompany is issuing 100,000 options to Ms. Evans at today’s closingshare price.
Mammoth would also like to take this opportunity tothank outgoing Chief Financial Officer, Errol Farr for his serviceswith the Company since 2012, including his assistance in transitioningMs. Evans to her new position. The Company wishes Mr. Farr the verybest in his future endeavours.
Please take note that Mammoth President and CEO Thomas Atkins attendedthe Spotlight Mining ChristmasBonanza virtual conference this past Thursday, December 17 th and a replay of Mr. Atkins’presentation can be viewed at: https://www.youtube.com/watch?v=8QQzr9JfcwY&feature=youtu.be . Mr. Atkins’ presentation begins at 3:00:28 of thisreplay.
The Company would like to announce it has issued 100,000 stock optionsat at today’s closing share price to athird-party contractor, activities of which are unrelated to anygeological or evaluation activities.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metal mineral exp.loration Company focused on acquiring and defining precious metalresources in Mexico and other attractive mining friendly jurisdictionsin the Americas. The Company holds a 100% interest (subject to a 2%net smelter royalty purchasable anytime within two years fromcommencement of commercial production for US$1.5 million) in the5,333hectare Tenoriba gold property located in the Sierra MadrePrecious Metal Belt in southwestern Chihuahua State, Mexico. Mammothis seeking other opportunities to option exploration projects in theAmericas on properties it deems to host above average potential foreconomic concentrations of precious metals mineralization.
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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