MTH Mammoth Resources Corp

Mammoth Resources Corp. (TSX VENTURE:MTH) would like to announce that it has
signed surface rights agreements that will permit drilling on its Tenoriba
precious metal property (refer to press release dated April 24, 2014), in the
prolific Sierra Madre Precious metal belt, Mexico. The agreements are with two
ejidos (an ejido is a communal municipal governance committee which has
stewardship over surface land usage); the Baborigame ejido and the Santa Rosa
ejido, boundaries of which each cover a portion of the Tenoriba property. In the
case of the Santa Rosa ejido and Baborigame, respectively and are renewable on
equal terms for periods to be determined, by votes in favour of such extension
and terms of extension, at the time of such votes. In the case of Santa Rosa
ejido, the surface right agreement was originally signed on April 13, 2014 and
is for a term of three years, requires payment of Mexican Peso (MN $) 10,000
(approximately US$800) every six months and is renewable for a second three year
period with the same general terms, subject to a new ejido assembly vote and can
be cancelled at Mammoth's convenience. In the case of the Baborigame ejido, the
surface right agreement was signed on July 20, 2014 and is presently in the
process of being notarized. The agreement is for a term of two years, requires
payment of MN $15,000 (approximately US$1,200) every six months and is renewable
for an additional year period with the same general terms, subject to a new
ejido assembly vote and can be cancelled at Mammoth's convenience. The
difference in amounts to each ejido is on the basis of the amount of ejido
property existing on the Tenoriba property and population of each ejido
community.


The next steps in the process of advancing the company's application for
permission to drill the Tenoriba project now only involves notarization of
certain documents associated with the ejido agreements (expected shortly), the
company filing an application to drill and perform various surface works (roads
and drill pads), and the company receiving approval for such activities by the
Secretaria de Medio Ambiente y Recursos Naturales (SEMARNAT - the Mexican
ministry responsible for reviewing and granting such permit applications) and
most importantly, the company paying permit application filing fees and fees to
the contract consultant associated with the preparation and submission of the
permit application. Payment of these fees are pending receipt of funds from the
CDN $325,000 financing announced August 16, 2014.


Based on consultations with representatives of the SEMARNAT office in Chihuahua,
the company anticipates that it will receive its drill permit within four to six
weeks following the submission of its permit application. The timing for the
receipt of the permit is anticipated to coincide with the tapering of heavy
rains in the Sierra Madre where the project is located in time to permit
drilling later in the year. The company has received numerous highly competitive
quotations from drilling companies for its proposed drill program.


About Mammoth Resources:

Mammoth Resources (TSX VENTURE: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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mammoth Resources Corp.
(416) 479-0887
(416) 363-4567 (FAX)
www.mammothresources.ca

Mammoth Resources (TSXV:MTH)
Historical Stock Chart
From May 2024 to Jun 2024

Mammoth Resources (TSXV:MTH)
Historical Stock Chart
From Jun 2023 to Jun 2024