Toronto, Canada - May 25, 2021 - Mammoth Resources Corp. (TSXV:MTH), (OTC:MMMRF) (the “Company”, or “Mammoth”) is pleased to announce a non brokered private placement financing (the “Private Placement”) comprising up to 14,300,000 units (the “Units”) at a price of $0.14 per Unit for gross proceeds of $2,002,000, the Unit offering price being the equivalent of the 5, 10 and 15-day volume weighted average price of the Company’s common shares traded on the TSX Venture Exchange (the “Exchange”). Funds managed by institutional together with high net worth investors have agreed to purchase 10,500,000 Units in the Private Placement.

Each Unit of the Private Placement will consist of one common share of the Company (the “Common Share”) and one share purchase warrant (the “Warrant”). Each Warrant will entitle the holder to purchase one additional Common Share for a period of 18 months from closing of the Private Placement at a price of $0.21 and if commencing on the date that is four months after the closing date, the closing price of a Common Share on the Exchange is higher than $0.25 for 20 consecutive trading days, based on the volume weighted average price on daily closing, then on the date that is the 20th consecutive trading day (the “Acceleration Trigger Date”) the expiry date of the Warrants will be accelerated to the date that is 30 business days after the Acceleration Trigger Date provided the Company, within three trading days of the Acceleration Trigger Date, issues a news release announcing the acceleration of the expiry date and delivers or sends by electronic transmission a copy of such news release to the Warrant holders.

Proceeds from this Private Placement will be used primarily to fund diamond drilling on the Company’s 100% owned Tenoriba gold-silver, with copper high sulphidation project in the prolific Sierra Madre precious metal belt, Mexico. This drill program is planned to commence within weeks of the closing of this Private Placement. The drill contractor that will be contracted to perform this diamond drilling has agreed to accept up to 30% of the contractor cost of this program in shares in this Private Placement.

Thomas Atkins, President and CEO of Mammoth commented on the Private Placement, stating: “The price and unit structure of this financing is clearly attractive with the company having gained the commitment of institutional and high net worth investors comprising the vast majority of the financing. We anticipate a quick closing of this financing which will enable the drill contractor to begin preparations to mobilize the drill rig to site with drilling to begin within weeks of closing. At the offering price, and with the majority of the funds from this financing directed towards this work, Mammoth’s market capitalization will still remain approximately equal to amounts spent at Tenoriba. We’re confident the work planned from the proceeds from this financing will enhance the company’s share value as we begin to deliver results from this drilling as we test compelling drill targets over almost 5 kilometres of known surface mineralization coinciding with attractive geophysical features, and in a number of instances adjacent to prior, potentially economical gold-silver drill hole intervals at Tenoriba. We intend to release results from additional 3D geophysical modelling and identify additional drill targets in the near future as we advance closing of the financing and segue to drilling. Mammoth looks forward to announcing results from these activities.”

This Private Placement is available to accredited investors. Securities issued under this Private Placement will be subject to a four-month hold period. In accordance with the requirements of the Investment Dealer Exemption, the Company confirms there is no material fact or material change related to the Company which has not been disclosed. The Private Placement is subject to receipt of all required regulatory and Exchange approvals. The Company may pay a finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

Anyone interested in participating in participating in this financing are encouraged to contact Thomas Atkins, President and CEO of Mammoth at: or by telephone at: 416 509-4326.

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects 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: ., or contact Thomas Atkins, President and CEO.

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. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.