Toronto, Canada – TheNewswire - (February 26, 2026) - Mammoth Resources Corp. (TSX-V: MTH), (the “Company”, or “Mammoth”) is pleased to announce the selection of potential draw point locations for its small-scale, gold-silver mineral extraction and pilot leach test at the large Carneritos area within its 100% owned Tenoriba project, Chihuahua State, Mexico.

 

Company geologists have sifted through a combination of thousands of surface chip, channel and nearest drill-hole gold-silver assay results, combined with studying geological features and access points to identify areas with higher-than-average grades that would serve as potential draw points for small-scale, gold-silver mineral extraction and pilot leach test within the large 1.5 by 0.5 kilometre Carneritos area. Refer to Table 1 - Average Grades within Draw Point Locations, accompanied by Figure 1 - Location Map - Mineralized Areas within the Tenoriba Project and Figure 2 - Location Map - Carneritos Area Draw Points, which illustrate the average grades associated with each draw point and the locations of these draw points within the Tenoriba project and Carneritos area, respectively.

 

Thomas Atkins, President and CEO of Mammoth Resources, commented on these draw points, stating: "We've combed through thousands of surface and drill sample results, studied the geology, soil sample results and geophysics and have identified several attractively mineralized areas from which we believe potential exists to extract initial volumes of gold-silver mineralized rock from surface to shallow depths and from which initial pilot leach scale testing could be performed. Next steps will be to go to site and field check these locations to assist in defining their surface footprint and gain an approximation of their size and the potential tonnage these areas might host. 

 

We're excited by the grades evident at surface, with the averages from numerous samples at or above one gram per tonne gold equivalent and up to almost four grams per tonne and the potential to efficiently recover this gold and silver from these areas via pilot leaching." 

  

Table 1 - Average Grades within Draw Point Locations

 

	Draw Point	Number of Surface Samples	Average Gold Equivalent Grade*	Drill Hole Number	Average Drill Interval+ Gold Equivalent Grade*
			(g/t)		(metres @ g/t)
	A	79	0.97	TEN17-06	126.8 @ 0.52
					including 58.2 @ 0.80
					including 25.0 @ 1.21
	B	68	1.48	TEN21-12	46.5 @ 0.52
	C	40	2.26	TEN21-03	43.5 @ 0.59
					including 6.0 @ 0.73
					including 4.5 @ 0.73
				TEN21-16	12.0 @ 0.61
					including 85.7 @ 0.47
					including 6.0 @ 0.97
				TEN21-18	81.0 @ 0.48
					including 3.0 @ 0.82
					including 7.5 @ 0.76
					including 12.0 @ 1.07
	D	12	1.63	TEN21-04	19.5 @ 0.63
					including 10.5 @ 0.97
	E	17	1.48	TEN21-15	30.0 @ 0.63
					including 3.0 @ 1.21
					including 6.0 @1.02
	F	11	3.86		No drilling this target
	+ Drill intervals use 0.18 g/t gold equivalent cut-off grade to define the interval
	* Gold equivalent where gold : silver ratio = 1 : 75
	Please refer to Mammoth website, "Projects" section for a table of sample results used to
	compile draw point averages.

  

Recommendations for future work include site and field check of these draw point locations to assist in defining their surface footprint and gain an approximation of their size and the potential tonnage these areas might host. Additional metallurgical testing will be performed on coarser-grained, near-surface oxidized and oxidized-transition zone material from these draw points and other mineralized areas, possibly in bottle roll tests, or column tests. This material should be crushed and screened for a 3/8-inch diameter size fraction, followed by column testing to determine leach kinetics. These tests would further validate and enhance the confidence of the metallurgical recoveries of gold and silver by cyanide heap leach methods, plus the consumption of reagents to achieve the most favourable gold and silver recoveries and the potential economics of this process.

  

The Company looks forward to reporting on additional development activities at Tenoriba, including results from the site visit and additional metallurgical testing, plus resource definition drilling.

 

Quality Assurance and Quality Control (QA/QC):

Samples referenced in this press release were prepared and analyzed by ALS laboratories (ALS) in their facilities in Mexico and Canada, respectively. Samples generally consisted of a minimum of 2 kilograms of material. Drill core is mostly HQ diameter core with minor lengths of NQ diameter core. Core is sawn in half with a rock saw, with one half used for sample analysis purposes. Where chip and channel samples are taken, these are most often 1.5 metres in length; only in poor recovery sections do they exceed this length, with rare exceptions exceeding a maximum of 4.5 metres in length. Samples are collected with a sample ticket and deposited into plastic sample bags sealed with nylon zip lock ties, then loaded into grain sacs similarly sealed with a nylon zip lock tie prior to transport by Mammoth personnel to ALS’s facility in Chihuahua, Mexico, for sample preparation. Gold and silver analyses are performed in ALS’s facility in Canada via a 30-gram fire assay with an atomic absorption finish. Silver, copper, lead and zinc are analyzed as part of a multi-element ICP package using a 4-acid digestion. Blank and duplicate samples are inserted randomly at approximately every 15 samples. Drill core assay results, plus Quality Assurance/Quality Control (QA/QC) measures, were previously reported in various press releases (refer to Mammoth website press releases spanning the period November 18, 2021, to December 15, 2022).

 

Qualified Person / Competent Person (QP/CP):

Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp. is Mammoth's Qualified Person under National Instrument 43-101 by virtue of his professional designation, university degree and years of work experience as a geologist and is responsible for and has reviewed all technical data in this release (refer to Mammoth’s website “Projects”, “Qualified Person” section for Mr. Simpson’s qualifications).

 

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining-friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above-average potential for economic concentrations of precious metals mineralization. Mammoth recently entered into a strategic alliance with RM Mineria S de RL de CV of Mexico in pursuit of additional project development opportunities.

 

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., or contact Thomas Atkins, President and CEO at: 416 509-4326.

 

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.

 

Figure 1 - Location Map - Mineralized Areas within the Tenoriba Project

 

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Figure 2 - Location Map - Carneritos Area Draw Points

 

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