Mr. Dustin Henderson reports

BLACK MAMMOTH METALS ANNOUNCES WARRANT EXTENSION

Black Mammoth Metals Corp. has received approval from the TSX Venture Exchange to extend the expiry date of a total of 3.5 million share purchase warrants to April 19, 2026, for tranche 1 and April 29, 2026, for tranche 2. Each warrant entitles the holder to acquire one common share of the company at a price of 15 cents per common share. All other terms of the warrants, including exercise price, will remain the same. The warrants were issued pursuant to the private placement announced on March 8, 2022, and all are set to expire on April 19, 2024, for tranche 1 and April 29, 2024, for tranche 2. An insider, by owning more than 10 per cent of the company's outstanding shares, holds 800,000 warrants of the 3.5 million total warrants.

Further to the company's Jan. 19, 2024, news release announcing the shares-for-debt transaction, the issuance of 950,000 common shares to directors and officers of the company constitutes a related-party transaction as this term is defined in Multilateral Instrument 61-101 -- Protection of Minority Security holders in Special Transactions. The directors and officers of the company, 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 intends 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 per cent of the company's market capitalization.

About Black Mammoth Metals Corp.

The company has recently proposed the acquisition of IDA Mining. The company has completed a ground gravity survey that is now modelled and interpreted in conjunction with the recent UAV (unmanned aerial vehicle) magnetic survey at its 100-per-cent-owned, 1,213-hectare (2,997-acre) Happy Cat gold property in southern Ravenswood mining district, Lander county, Nevada.

An approximately four-square-kilometre area is identified as an area of hydrothermal alteration. Structural modelling suggests the density of the alteration 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 encompasses an area where northerly trending high-angle faults intersect indicated northwest-trending reactivated 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-per-cent interest, subject to underlying royalties, in the Blanco Creek gold property in the Elk Creek mining district in central Idaho, which hosts three historic underground mines along 3,550 metres (11,644 feet) of strike on the northeast-trending regional Blanco shear zone. Exploration by two previous operators identified a geological target for the Blanco Creek property in the order of 1.7 million to 2.48 million tons, grading 0.20 to 0.33 ounce per ton gold (1.54 million to 2.24 million tonnes, grading 6.85 to 11.31 grams per tonne gold); see the company's press release dated Feb. 14, 2017.

Black Mammoth cautions investors to note the potential quantity and grade of the geological target are conceptual in nature. A qualified person has not completed sufficient work to classify the geological target as mineral resources as defined by National Instrument 43-101, and it is uncertain if future exploration will result in the target being delineated as mineral resources.

Mark J. Abrams, CPG No. 11451, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and director of Black Mammoth, has reviewed and approved the technical content in this release. 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.

We seek Safe Harbor.