Toronto, Canada (November 9, 2017) – Mammoth Resources Corp. (TSX-V: MTH), (the “Company”) is pleased to announce a non brokered private placement (the “Private Placement”) of up to 8,000,000 units (the “Units”) at an offering price based on the 15 day volume weighted average price of Mammoth shares of $0.09 per share, for gross proceeds of up to $720,000. Each Unit consists of one common share (a “Common Share”) and one common share purchase warrant (the “Warrant”) of the Company. Each Warrant will entitle the holder thereof to acquire one Common Share up to 18 months following closing of the Private Placement, at an exercise price of $0.13. Proceeds from this financing are to be used to diamond drill up to 3,000 metres testing up to 24 targets along a 5 kilometre trend of gold-silver mineralization at the Company’s Tenoriba, High Sulphidation project in the Sierra Madre region of southwestern Chihuahua State, Mexico (refer to press release dated October 25, 2017).
Thomas Atkins, President and CEO of Mammoth commented on the Private Placement stating: “We’re all set to drill. Mammoth’s VP Exploration, Richard Simpson was on site last week with the drill contractor finalizing logistics. Drill equipment will be mobilized shortly and it’s expected we should be able to commence drilling within a week of equipment and personnel arriving on site.