Black Mammoth Metals Announces Warrant Extension
No.24-3 BMM: TSX-V NEWS RELEASE
Black Mammoth Metals Announces Warrant Extension
Vancouver, B.C., January 29, 2024. Black Mammoth Metals Corporation (TSX-V: BMM / OTC:
LQRCF) (“Black Mammoth” or the “Company”) is pleased to announce that the TSX-V has approved the
expiry date extension of a total of 3,500,000 share purchase warrants (the “Warrants”) to April 19, 2026 for
tranche one & April 29, 2026 for tranche two (the “Warrant Extensions”). Each Warrant entitles the holder to
acquire one common share of the Company at a price of $0.15 per common share a nd all other terms of the
Warrants, including ex ercise price , will remain the same. The Warrants were issued pursuan t to the private
placement announced on March 8, 2022 and all are set to expi re on April 19, 2024 for tranche one & April 29,
2024 for tranche two . An insider , by owning more than 10% of the Comp any’s outstanding shares, holds
800,000 Warrants of the 3,500,000 total Warrants.
Further to the Com pany’s January 19 , 2024 news rel ease announcing the shares for debt transaction, the
issuance of 950,000 common shares t o directors and officers of the Company constitutes a "related party
transaction" as this term is defined in Multilateral Instrument 61 -101: Protection of Minority Securityholders in
Special Transactions ( "MI 6 1-101"). The directors and officers of the Com pany, acting in good faith,
determined that the fair market value of the common shares being issued pursuant to the shares for debt
transaction and the consideration being paid is reasonable. The Company intend s to rely on the exemptions
from the valuation and minority shareholder approval requirements of MI 61 -101 contained in sections 5.5(a)
and 5.7(1)(a) of MI 61 -101 as neither the fair market value of the common shares nor the debt exceeds 25% of
the Company's market capitalization.
About Black Mammoth Metals Corporation:
Aside from the recently proposed acquisition of IDA Mining, t he Company has completed a ground gravity
survey that is now modeled and inte rpreted in conju nction with the recent UAV magnetic survey at its 100%
owned, 1213 hectare (2997 a cre) Happy Cat gold property, in southern Ravenswood Mining Distric t, Lander
County, Nevada.
An approximate 4 square kilometre area is identified a s a hydrothermally altered area. Structural modelling
suggests the density of the alter ation and its’ density contrast relative to the host rock is typical to that of
alteration zones present at other Carlin -type deposits in northern Nevada. The alteration encompass es an area
where northerly trending high angle faults intersect indicated NW tren ding re-activated faults that are known to
be of age and orientation as ore-controlling faults occurring at other Carlin-type deposits. The Company intends
to prioritize drill targets within the alteration area.
Black Mammoth also has a 100% interest, subject to underlying royalties , in the Blanco Creek gold property
in the Elk Creek Mining District, 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 g eological target for the Blanco Creek property in the ord er 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, 2017.
Black Mammoth cautions investors to note th e potential quantity and grade of the geological ta rget are
conceptual in nature. A qu alified person has not completed sufficient work to classify t he geological target as
mineral resources as d efined by NI 43 -101, and it is un certain if future exploration will result in the target
being delineated as mineral resources.
Mark J. Abrams, CPG #11451, a Qualified Person as defined under National Instrument 43-101 - Standards of
Disclosure for Mineral Projects (“NI 43-101”) and director of Black Mammoth, has reviewed and approved the
technical content in this re lease. Historical information contained in this news release cannot be relied upon as
Mr. Abrams, the Company’s Qualified Person, has not prepared nor verified the historical information.
On behalf of the board,
“Dustin Henderson”
Dustin Henderson, BBA
President & CEO
Black Mammoth Metals Corporation
Phone: 604 347 9101
Email: [email protected]
Website: www.blackmammothmetals.com
This press release contains forward -looking statements and forwa rd-looking information (collectively ,
“forward looking statements”) within the meaning of applicab le securities laws. All state ments, other than
statements of historical fact, included here in, including statements regarding the Company’s completion of the
Transaction and related transactions are forward-looking statements. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate, postul ate 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 futur e performance, and that actual
results may differ materially from tho se in forward -looking statements. Important factors that could c ause
actual events and results to di ffer mater ially from the Company’s expectations include that t he requisite
corporate and TSXV for the Transaction may not be obtained; that the Company o r IDA Mining, as applicable,
may be unable to sat isfy any or all closing conditions necessary for the completion of the Transaction; and
other risks that are customary to transactions of this nature. Trading in the securities of the Company should be
considered highly speculative. All of the Company’s public disclosure fi lings may be accessed
via www.sedarplus.ca and readers are urged to review these materials, includ ing the lates t technical repo rts
filed with respect to the Company’s mineral properties.
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.