|May 25, 2017|
MAMMOTH ANNOUNCES APPOINTMENT OF NEW DIRECTOR AND PROVIDES CORPORATE UPDATE AN EXPLORATION ACTIVITIES AT ITS TENORIBA PRECIOUS METAL PROPERTY, MEXICO
|Toronto, Canada (May 25, 2017) - Mammoth Resources Corp. (TSX-V: MTH), (the "Company") is pleased to announce the appointment of Mr. Paul O'Brien as a director of the company. Mr. O'Brien has a total of 21 years experience in the mining business, including more than seven years in gold equity research covering developing companies to senior producers as well as precious metals forecasting, during which time he was ranked in the top five of Wall Street Journal's "Best on the Street Analyst Survey" for North American Mining Analysts two years in a row. In addition Mr. O'Brien has 12 years experience in corporate advisory and investment banking primarily focused on the mining industry where he gained global mining capital markets experience in Canada and Australia as a member of bank-owned capital markets groups. Mr. O'Brien received his B. Com from McMaster University and is a CFA Charterholder. Mr. O'Brien's appointment remains to be approved by the TSX however, the board of Mammoth is confident such approval will be received in a timely manner. A total of 175,000 options exercisable at $0.08 under the terms of the Company's Option Plan have been issued to Mr. O'Brien in his role as a director and Chair of the Company's Audit Committee.|
At this same time Ms. Wanda Cutler will resign from the board of the Company due to other professional obligations. Thomas Atkins, President and CEO of Mammoth would like to take this opportunity to thank Ms. Cutler for her generous and thoughtful contributions to the Company over the past two years and welcomes Mr. O'Brien to the board and looks forward to working with him in the future as the Company develops it's Tenoriba precious metal project in Chihuahua State, Mexico.
Signed Two Year Agreements for Surface Access.
The Company would like to report that it has signed two year extensions with two ejidos; the Baborigame and Santa Rosa ejidos which govern surface access at the Company's Tenoriba project. These agreements require cash payments totalling C$1,700 per year and permit Mammoth, among other activities, to build road access on the property and perform diamond drilling at Tenoriba.
Commenced Field Program at Tenoriba.
Mammoth would also like to announce that it began its surface sampling and road construction program previously announced on March 31, 2107 which was to include mechanical trenching and channel sampling, construction of access to facilitate drilling plus some in-fill mapping and sampling on the recently announced PIMA geochemical sampling program. To date 4 channels have been cut totalling 65 metres wherein a total of 49 samples were collected at Tenoriba from areas the Company considers intriguing as drill targets for final confirmation prior to locating drill holes. The bulldozer that is to build the drill access road has mobilized to site and will soon commence road work. It is expected that through this road work and the excavating of trenches that additional channel sampling will be performed. It is expected that the road work will take approximately 3 weeks to complete. Sample results from the first phase channel sampling are expected to be received within the next two weeks.
Appointment of FronTier Merchant Capital as Investor Relations Firm.
The Company would like to announce that it has engaged the services of FronTier Merchant Capital Group ("FronTier") for Investor Relations Services. FronTier, is an experienced investor relations group with multiple marketing offices across North America and headquartered in Toronto, Canada. FronTier will assist Mammoth by increasing market awareness for the Company utilizing a number of financial market communications initiatives. The core of this activity will be facilitating in-person introductions with institutional and retail brokers and investors in a number of cities across Canada, the US and Europe in a cost effective and efficient results driven manner. FronTier will also oversee certain other marketing campaigns for Alexandria such as PR distribution, Media outlets, and Digital Advertising, augmenting the Company's current marketing activities.
Under the terms of the engagement, FronTier has been retained for just over a 6 month period at $6,000 per month. As well, the Company has granted 200,000 stock options to FronTier, at an exercise price of C$0.08 issued under the terms of the Company's Stock Option Plan. Further information about Frontier and their role with Mammoth can be found on FronTier's website, www.FronTierMCG.com. FronTier participated in the recent Private Placement making an investment of $64,000 of which $40,000 will be paid towards investor relations services. The Company looks forward to working with FronTier as it assists in enhancing the profile of Mammoth and the Company's Tenoriba precious metal project among potential investors.
About Mammoth Resources:
Mammoth Resources Corp. (TSX-V: MTH) is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire 100% in the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The Company continues to seek other option agreements in the Americas on other properties it deems to host above average potential for economic concentrations of precious metals mineralization.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at: www.mammothresources.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
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