Mammoth Provides Update on Exploration Activities at Its Tenoriba Gold Property, Announces Private Placement Financing and Advises Employing OSC Filing Exemption

Mammoth

Toronto, Ontario–(Newsfile Corp. – May 29, 2020) – Mammoth Resources Corp. (TSXV: MTH), (the “Company”, or “Mammoth”) is pleased to announce that following a suspension of exploration activities due to COVID-19 related social restrictions, Centerra Gold Inc. (“Centerra”) personnel have returned to Mammoth’s Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt in southwestern Chihuahua State, Mexico. Mammoth would also like to announce a non brokered private placement (the “Private Placement”) of up to 3,700,000 shares at an offering price based on the 10-day volume weighted average share price of $0.035 per share. The Company would also like to advise that as granted byOSC, Instrument 51-502 regarding a Temporary Exemption (the “Exemption”) to Certain Corporate Finance Requirements a result of the coronavirus disease and resulting social restrictions, that the board of directors of Mammoth has found it prudent for the health and safety of its employees to seek a 45-day extension to the filing of its year-end financial statements as granted by this Exemption.

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