Black Mammoth Metals Acquires Happy Cat Gold Property BMM: TSX-V

Black Mammoth Metals Acquires Happy Cat

Gold Property

BMM: TSX-V

VANCOUVER, BC

,

Nov. 25, 2020

/CNW/ -

Black Mammoth Metals Corporation

(TSXV: BMM)

(OTC: LQRCF)

("Black Mammoth" or the "Company")

is pleased to announce Antelope Creek

Gold Corporation ("Antelope Creek Gold"), a wholly owned subsidiary of Black Mammoth Metals

Corporation, has entered into an Assignment and Assumption Agreement dated

November 20, 2020

with IDA Gold Corporation ("IDA") pursuant to which IDA has assigned, and Antelope Creek Gold

has assumed, 100% of the rights, title and obligations of the Assignee for the acquisition of the

Happy Cat Gold Property ("Happy Cat" or the "Property") located in central

Nevada

. The acquisition

is subject to regulatory approval.

The Happy Cat Property is located in undulating low-lying country in the central Shoshone Range,

with year round road access 15 miles NW of

Austin

,

Lander County

and consists of 13 Bureau of

Land Management ("BLM") mining claims totalling approximately 267.8 acres (108.4 hectares).

There is an active Notice Level exploration permit issued by the BLM Battle Mountain District Office

and a reclamation bond in place.

Past exploration carried out by IDA and a prior operator, including RC drilling, trenching, auger

drilling and sampling, have identified two styles of gold mineralization on the Property. Both styles of

mineralization are of interest.

Geology and Mineralization:

The first style of gold mineralization is widespread and occurs in an unconformity exposed at the

surface that lies at the basel contact of Tertiary volcanic rocks within a 600-metre diameter circular

area. Gold anomalies in the unconformity horizon have been defined by RC drilling, trenching, auger

drilling, and soil sampling methods. Assay results from auger samples collected within the circular

area show anomalous gold values.

Preliminary metallurgical work, including a 240 kg and a 287 kg sample taken by IDA in 2014 from

the near surface anomaly and tested by a third party engineering firm using an iCON gravity

concentrator and a Deister concentrating table, suggests that the near surface gold anomaly is

amenable to gravity separation with no crushing required and with no chemicals required. iCON

gravity concentrators use a centrifugal field to concentrate all heavy minerals including very fine free

gold.

This testing recovered visible particulate gold along with fine gold down to 21.2 microns and

suggests the near surface materials may exhibit a nugget effect making estimation of accurate

grades & recovery rates with small volume samples problematic

.

"The Company intends to sample and test utilizing larger volume samples and

metallic screening analysis while further defining the anomaly in an effort to generate

reliable data sufficient for reporting purposes

as there may be an opportunity to

conduct a bulk sampling operation.," stated

Dustin Henderson

, President and CEO of

Black Mammoth.

Pursuant to recently revised Nevada Statutes, through the Division of Environmental Protection,

permitting efforts for bulk sampling are greatly reduced for operations that don't require the crushing

of ore and don't require the use of chemicals except for any approved flocculants.

No clear source of the gold anomaly has been identified, but may be similar to other recently

discovered mineralized areas at Tertiary unconformities elsewhere in the Great Basin such as

Liberty Gold's

Goldstrike Deposit where

Carlin

type mineralizing fluids traveled along the

unconformity contact. Gold mineralized scree samples taken from within the gold anomaly and the

west dip of the anomaly, suggests that the source of the gold may be close-by, and possibly under a

fringe of barren gravel and colluvium to the west. Further exploration, which may include an

aeromagnetic survey, grid drilling and trenching, is a priority.

The unconformity in this area marks the boundary between the Tertiary volcanic rocks which are

composed of thick andesite flows and a mix of volcanoclastic flows, with lessor shale, argillites,

cherts and tuffaceous debris flow horizons. Underlying the unconformity are Orovician sedimentary

rocks composed siltstone, quartzite, cherts and minor limestone which form the lower plate of the

unconformity. The sedimentary package also includes minor amounts of intermediate composition

volcanic rocks. The volcanic rocks are often carbonate flooded and often altered to limonitic clay.

The gold mineralization in the unconformity was likely deposited concurrently with the formation of

the unconformity as gold is found in the tuffaceous material that overlies the Ordovician sedimentary

rock package. The gold occurs in clayey grey-brown soil with a high heavy mineral content.

The second style of gold mineralization was noted in historic RC drill holes on the Property, but

assay certificates have not been located for verification of assay results. The mineralization in these

holes is As, Sb +/- Hg rich and related to structurally controlled zones of limonitic alteration in NW

trending SW dipping Vinini Formation.

No lower plate rocks are exposed on the Property, nor intersected in drilling, but they outcrop on the

Campbell Trust Claims, one mile to the east. The package of rocks and alteration in the anomaly

area is similar to that at the

Carlin

type Tempo Prospect (unverified, non NI 43-101 compliant

100,000 oz Au resource) 2.3 miles SE.

Acquisition terms:

Black Mammoth will own 100% of the Property subject to a 2.75% NSR in favour of IDA. There is no

work commitment required. Black Mammoth will reimburse IDA for Property related costs incurred

totalling

$60,000 USD

payable 6 months from the TSX-V approval date of the Property transaction.

These related costs include: staking & holding costs, GIS mapping, auger drilling, sampling &

assays, metallurgy work, gravity separation testing, and the biology & cultural surveys. The

acquisition is considered a related party transaction as Black Mammoth and IDA have two directors

in common.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative

of mineralization hosted on the Company's property.

Black Mammoth has 11,081,871 shares issued and outstanding, 11,556,871 fully diluted.

Mark J. Abrams

, CPG, Non-Independent Qualified Person as defined by NI 43-101 and Director of

Black Mammoth prepared and approved the technical information contained in this news release.

About Black Mammoth Metals Corporation:

Along with the Company's newly acquired Happy Cat Gold Property, Black Mammoth has a 100%

interest, subject to underlying royalties, in the Blanco Creek gold property in central

Idaho

which

hosts three historic underground mines along 3550 meters (11,644 feet) of strike on the north-east

trending regional

Blanco Shear Zone

. Exploration by two previous operators identified a geological

target for the Blanco Creek property in the order of 1.7 to 2.48 million tons, grading 0.20 to 0.33

oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au); see the Company's press

release dated

February 14

th

, 2017.

Black Mammoth cautions investors to note the potential quantity and grade of the geological target

are conceptual in nature. A qualified person has not completed sufficient work to classify the

geological target as mineral resources as defined by NI 43-101, and it is uncertain if future

exploration will result in the target being delineated as mineral resources.

On behalf of the board,

"Dustin Henderson"

Dustin Henderson

, BBA

President, CEO and Corporate Secretary

"Neither 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."

This press release contains forward-looking statements and forward-looking information

(collectively, "forward looking statements") within the meaning of applicable Canadian and

United

States

securities laws. All statements, other than statements of historical fact, included herein,

including statements regarding the anticipated content, commencement, duration and cost of

exploration programs, anticipated exploration program results, the discovery and delineation of

mineral deposits/resources/reserves, the timing of the receipt of assay results, the visual continuity

of certain mineralized intervals and business and financing plans and trends, the potentially open

nature of the mineralized zones on the property and the potential for future discoveries of

additional mineralization on the property are forward-looking statements. Forward-looking

statements are typically identified by words such as: believe, expect, anticipate, intend, estimate,

postulate and similar expressions or are those which, by their nature, refer to future events.

Although the Company believes that such statements are reasonable, there can be no assurance

that such statements will prove to be accurate, and actual results and future events could differ

materially from those anticipated in such statements. The Company cautions investors that any

forward-looking statements by the Company are not guarantees of future performance, and that

actual results may differ materially from those in forward-looking statements. Important factors that

could cause actual events and results to differ materially from the Company's expectations include

those related to weather, equipment and staff availability; performance of third parties; timing of

receipt of assay results from third party analytical facilities; risks related to the exploration stage of

the Company's projects; market fluctuations in prices for securities of exploration stage companies

and in commodity prices; and uncertainties about the availability of additional financing; risks

related to the Company's ability to identify one or more economic deposits on the properties, and

variations in the nature, quality and quantity of any mineral deposits that may be located on the

properties; risks related to the Company's ability to obtain any necessary permits, consents or

authorizations required for its activities on the properties; and risks related to the Company's ability

to produce minerals from the properties successfully or profitably. Trading in the securities of the

Company should be considered highly speculative. All of the Company's public disclosure filings

may be accessed via

www.sedar.com

and readers are urged to review these materials, including

the latest technical reports filed with respect to the Company's mineral properties.

SOURCE

Black Mammoth Metals Corp

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2020/25/c6607.html

%SEDAR: 00022389E

For further information:

Black Mammoth Metals Corporation, Phone: 604 347 9101, Email:

[email protected], Website:

www.blackmammothmetals.com

CO: Black Mammoth Metals Corp

CNW 08:30e 25-NOV-20