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Black Mammoth Metals Corp
Symbol	BMM
Shares Issued	15,876,871
Close 2024-02-02	C$ 0.135
Market Cap	C$ 2,143,378
Recent Sedar+ Documents

Black Mammoth completes acquisition of IDA Mining

2024-02-05 17:24 ET - News Release

Subject: news to be disseminated Word Document File: '\\swfile\EmailIn\20240205 141808 Attachment Black Mammoth Metals Completes Acquisition of IDA Mining for the America Mine Gold Property.doc' No.24-4 BMM: TSX-V NEWS RELEASE Black Mammoth Metals Completes Acquisition of IDA Mining for the America Mine Gold Property Vancouver, B.C., February 5, 2024. Black Mammoth Metals Corporation (TSX-V: BMM / OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce that it has completed the Acquisition of IDA Mining Corporation (the "Target") pursuant to a share agreement dated January 18, 2024 between the Company, the Target and Dustin Henderson ("the Vendor"). Pursuant to the terms of the Agreement (USD), 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% undivided interest (the "Option") in the America Mine property (the "Property") located in San Bernardino County, California. The Property consists of 4 patented claims, 31 unpatented Bureau of Land Management ("BLM") claims, and 6 millsite 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, finder's 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 (the "TSXV"), and the completion of the Acquisition required the acceptance of the TSXV. The Company has obtained the final acceptance of the TSXV. About Black Mammoth Metals Corporation: Aside from the recent acquisition of IDA Mining, the Company has completed a ground gravity survey that is now modeled and interpreted in conjunction with the recent UAV magnetic survey at its 100% owned, 1213 hectare (2997 acre) Happy Cat gold property, in southern Ravenswood Mining District, Lander County, Nevada. An approximate 4 square kilometre area is identified as a hydrothermally altered area. 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 NW trending re-activated 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% interest, subject to underlying royalties, in the Blanco Creek gold property in the Elk Creek Mining District, central Idaho which hosts three historic underground mines along 3550 meters (11,644 feet) of strike on the north-east 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 to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au); see the Company's press release dated February 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 NI 43-101, and it is uncertain if future exploration will result in the target being delineated as mineral resources. Mark J. Abrams, CPG #11451, a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") 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. On behalf of the board, "Dustin Henderson" Dustin Henderson, BBA President & CEO Black Mammoth Metals Corporation Phone: 604 347 9101 Email: blackmammothmetals@gmail.com Website: www.blackmammothmetals.com This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the Company's completion of the Transaction and related transactions are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include that the requisite corporate and TSXV for the Transaction may not be obtained; that the Company or IDA Mining, as applicable, may be unable to satisfy any or all closing conditions necessary for the completion of the Transaction; and other risks that are customary to transactions of this nature. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties. Neither 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.