Black Mammoth Metals Completes Acquisition of IDA Mining for the America Mine Gold Property
No.24-4 BMM: TSX-V NEWS RELEASE
Black Mammoth Metals Completes Acquisition of IDA Mining for the America Mine Gold Property
Vancouver, B.C., February 5, 2024. Black Mammoth Metals Corporation (TSX-V: BMM / OTC:
LQRCF) (“Black Mammoth” or the “Company”) is ple ased to announce that it has completed the
Acquisition of IDA Mining Corpo ration (the “Target”) pursuant to a share agreement dated January 18, 2024
between the Company, the Target and Dustin Henderson (“the Vendor”).
Pursuant to the terms of the Agreement (USD), the Company will acquire all of the issued and outstanding
shares of the Target in consideration for the assignment and assumption of appro ximately $150,000 in costs
incurred by the Vendor in relation to the Option, as defined herein. The Target holds an option to acquire a
100% undivided interest (the “Option”) in the America Mine property (the "Property") located in San
Bernardino County, California. The Property consists of 4 patented claims, 31 unpatented Bureau of Land
Management ("BLM") claims, and 6 millsite BLM claims. The Target may exercise the Option by making an
aggregate of $1,106,500.65 in cash payments, including annual fees of approximately $12,000. The transaction
is non -arm’s length in nature. There are no roya lties, work commitment amounts , finder’s fees or share
compensation in connection with either the Option or the Acquisition.
The Acquisition constituted a Reviewable Transaction pursuant to the policies of the TSX Venture Exchange
(the “TSXV”), and the completion of the Acquisition required the acceptance of the TSXV. The Company has
obtained the final acceptance of the TSXV.
About Black Mammoth Metals Corporation:
Aside from the recent acquisition of IDA Mining, the Company has completed a ground gravity s urvey 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 roc k is typ ical to th at 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 ca utions i nvestors t o 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, est imate, 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 futur e performance, and that actual
results may differ materi ally fro m 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 hi ghly 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.