Mr. Dustin Henderson reports

BLACK MAMMOTH METALS COMPLETES ACQUISITION OF IDA MINING FOR THE AMERICA MINE GOLD PROPERTY

Black Mammoth Metals Corp. has completed the acquisition of IDA Mining Corp. (the target) pursuant to a share agreement dated Jan. 18, 2024, between the company, the target and Dustin Henderson (the vendor).

Pursuant to the terms of the agreement (United States dollars), the company will acquire all of the issued and outstanding shares of the target in consideration for the assignment and assumption of approximately $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-per-cent undivided interest in the America mine property located in San Bernardino county, California. The property consists of four patented claims, 31 unpatented Bureau of Land Management (BLM) claims, and six mill-site 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 royalties, work commitment amounts, finders' 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, and the completion of the acquisition required the acceptance of the TSX-V. The company has obtained the final acceptance of the TSX-V.

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.

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