Mammoth Announces Share FOR Debt Settlement and Issuance of Options

Exchange Tower

410 - 150 York Street

Toronto, Ontario

M5H 3S5 Canada

www.mammothresources.ca

FOR IMMEDIATE RELEASE: January 2, 2018 No. 01/18

MAMMOTH ANNOUNCES SHARE FOR DEBT

SETTLEMENT AND ISSUANCE OF OPTIONS

Toronto, Canada (January 2, 2018) - Mammoth Resourc es Corp. (TSX-V: MTH), (the

“Company”) announces that it has settled debts totaling $21,0 00 owed to certain insiders, via the

issuance of 192,500 common shares of the Company, a t a price of $0.12 per share pursuant to the

minimum pricing rules of the TSX Venture Exchange a nd subject to TSX Venture Exchange final

approval. Furthermore, the Company would like to announce its year-end stock option grant of a total

of 782,917 stock options to management and director s of the Company at an exercise price of $0.12

per share and subject to the terms of the Company’s Stock Option Plan. Shares for debt and options

pricing are based on the Company's closing share price on December 29, 2017

Thomas Atkins, President and CEO of Mammoth comment ed on the debt settlement and

options issuance, stating : "These shares for debt and options are being issued at a 33% premium to

the recently closed private placement financing. Th e settlement of debt for shares, where certain

insiders were willing to accept such shares enables this amount to be invested in drilling, With the

company soon to begin releasing results from its di amond drill program at the Tenoriba gold-silver

property in Chihuahua, Mexico this share for debt and the annual option issuance is timed prior to any

news flow on the drilling where black-out periods can occur and to eliminate any risk that the timing of

any future share/option issuance may be influenced by knowledge of pending results. The Company

expects to report on the results from this drilling in the coming weeks as results become available.”

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a mineral exploration company focused on acquir ing and

defining precious metal resources in Mexico and oth er 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 and is seeking other option

agreements in the Americas on properties it deems t o host above average potential for economic

concentrations of precious metals mineralization.

To find out more about Mammoth Resources and to sig n up to receive future press releases, please

visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President

and CEO at:416 509-4326

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. Al though

the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-

looking statements are not guarantees of future per formance and, accordingly, undue reliance should no t be

placed on these forward-looking statements due to t he inherent uncertainty therein. Please refer to th e

Company’s website at the following link: http://www.mammothresources.ca/s/FAQ.asp to review the Company’s

complete forward looking statement.