Mammoth Resources Announces Closing ON $720,000 Private Placement and Commencement of Diamond Drilling at Its Tenoriba GOLD-Silver Project, Chihuahua, Mexico
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410 - 150 York Street
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www.mammothresources.ca
FOR IMMEDIATE RELEASE: Dec ember 14 , 201 7 No. 17/17
MAMMOTH RESOURCES ANNOUNCES CLOSING ON
$720,000 PRIVATE PLACEMENT AND COMMENCEMENT
OF DIAMOND DRILLING AT ITS TENORIBA GOLD-SILVER
PROJECT, CHIHUAHUA, MEXICO
Toronto, Canada (December 14, 2017) - Mammoth Resou rces Corp. (TSX-V: MTH), (the
“Company”) is pleased to announce that it has closed its previously announced non-brokered private
placement (the “Private Placement”) of up to 8,000,000 units (the “Units”) of Mammoth at $0.09 per
Unit, for gross proceeds of up to $720,000. Each Unit consists of one common share (a "Common
Share") and one common share purchase warrant (the “Warrant") of the Company. Each Warrant will
entitle the holder thereof to acquire one Common Sh are up to 18 months following closing of the
Private Placement, at an exercise price of $0.13. The gross proceeds of the Private Placement will
be used to diamond drill up to 3,000 metres testing up to 24 targets along a 5 kilometre trend of gold-
silver mineralization at the Company’s Tenoriba, High S ulphidation gold-silver project in the Sierra
Madre region of southwestern Chihuahua State, Mexico (refer to press release dated October 25,
2017) and for other working capital purposes.
The Private Placement was conducted in reliance upon British Columbia Instrument 45-534 (the
“Instrument”), which permits an issuer to distribute securities to its existing shareholders, subject to the
terms of the instrument. The TSX Venture Exchange has granted approval for this Private Placement.
The securities issued pursuant to the Private Placement wi ll be subject to a four-month hold period.
Finders' fees of $15,955.65 in cash representing 2.2% of the gross proceeds and the issuance of
187,285 Broker's Warrants representing 2.3% of the Uni ts issues under this Private Placement, with
the same terms as the Warrants to this financing were paid on this Private Placement.
The Company commenced diamond drilling on December 1st and has competed the first drill hole and
begun drilling the second of the program (please refer to Company website for drill photographs from
the project at: http://www.mammothresources.ca/s/ProjectImages.asp ). Drilling is expected to
continue nearer the holiday period whereupon drilling will be curtailed for the holiday and recommence
in early January. It is expected that the Company will have results from holes drilled in December, in
early to mid January, and results from the continuation of drilling in 2018 will be released through the
first quarter 2018.
Thomas Atkins, President and CEO of Mammoth comment ed on this successful Private
Placement, stating: “We're pleased to be closing on one hundred percent of what we'd set out to
raise through this financing and in fact we couldn't acc ept additional investment due to the limits of
our price reservation. We're also pleased to announce that even prior to closing this financing we
began diamond drilling and are pleased to so quickly be able to mobilize and start drilling relative to
the announcement of our plans to fund drilling via th is Private Placement. Mammoth’s VP Exploration,
Richard Simpson is on site and working with the drill con tractor and local labourers to advance this
drill program. Results are expected early to mid Januar y and throughout the first quarter of 2018.
We're optimistic the abundant surface work performed by t he Company, and which was used in
selecting the drill targets, will produce some attractive precious metal intersections from this drilling."
Mammoth has targeted its drill holes based on what it b elieves is a compelling combination of: (1)
surface geology, (2) trace element geochemistry, (3) gold bearing samples from chip and cut channels
over a large 15 square kilometre area of gold mineral ization, (4) PIMA sampling results indicating
proximity to high temperature geothermal activity coincident with surface gold values, and (5) a ground
Induced Polarization (IP) and Magnetometer (Mag) geo physics survey which illustrates attractive
geophysical features at depth coincident with surface gold mineralization, artisanal workings and in
some cases intersected at depth by a predecessor company’s dri lling (the highest grade intersection
assaying 45.9 grams/tonne gold over 1.9 metres in drill hole 7 and the lengthiest gold intersection
assaying 34.4 metres grading 1.03 grams/tonne gold in drill hole 11 and 66 metres grading 0.5
grams/tonne gold in drill hole 14) (for additional information on t hese results please feel free to
reference the technical reports available on the Compan y’s website at the following link:
http://www.mammothresources.ca/s/TechReports.asp .).
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a mineral exploration company focused on acquiring a nd
defining precious metal resources in Mexico and other at tractive 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 S tate, Mexico and is seeking other option
agreements in the Americas on 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 ., 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 contai n or refer to forward-looking information. Although
the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-
looking statements are not guarantees of future perform ance and, accordingly, undue reliance should not be
placed on these forward-looking statements due to the in herent uncertainty therein. Please refer to the
Company’s website at the following link: http://www.mammothresources.ca/s/FAQ.asp to review the Company’s
complete forward looking statement.