Mr. Dustin Henderson reports

BLACK MAMMOTH METALS ACQUIRES THE GALLINAS RARE EARTH ELEMENTS PROPERTY, NEW MEXICO

Antelope Creek Gold Corp., a wholly owned subsidiary of Black Mammoth Metals Corp., has acquired a 100-per-cent interest in the Gallinas REE (rare earth element) property by entering into a long-term lease with option to purchase and by staking, now consisting of 49 federal unpatented claims totalling approximately 376 hectares (929 acres). The Gallinas property is situated in the Gallinas Mountains, northern Lincoln county, New Mexico, and is managed by the U.S. Forest Service. The Gallinas Mountains are part of the basin and range physiographic province near the margin with the Great Plains physiographic province.

The property is thought to encompass virtually all the known intrusive breccia pipes (approximately 15) in the Gallinas mining district. The U.S. Bureau of Mines originally evaluated these breccias in 1943, in the early 1990s (R. Schreiner, 1991) and in recent years, including mapping, sampling and appraisal of the historic resource potential. Potassic and sodic fenitization and carbonatization were identified in the intrusive breccia pipes and in the adjacent country rocks, suggesting that the breccias are in the upper hydrothermal level of a carbonatite system.

The magmatic REE deposits of the Gallinas Mountains, including the company's newly acquired breccia pipes, are considered to be among the highest-ranked deposits for economic potential for REEs in New Mexico (U.S. Bureau of Mines, V.T. McLemore et al., 2025).

Prior operators have conducted limited exploration of the breccia pipes at Gallinas. The company looks forward to further evaluation of this highly prospective property.

Lease with option to purchase terms (in U.S. dollars)

Antelope Creek has signed a 40-year lease with option to purchase for six federal mining claims with a private vendor by making cash payments in accordance with the schedule detailed in the attached table.

The company has the right to purchase the leased claims for $300,000, subject to a royalty in favour of the vendor. The vendor will retain a 1.25-per-cent net smelter return (NSR) royalty on the leased claims and a 0.5-per-cent NSR royalty on claims within the area of interest of the agreement, not including the company's staked claims. One-half of the NSR is buyable for $500,000 any time before production.

Antelope Creek staked 43 federal unpatented claims in March, 2025, and it was considered a non-core asset.

A work commitment consisting of a magnetic survey is required before the second anniversary. No finders' fees or share compensation will be made in connection with the agreement.

About Black Mammoth Metals Corp.

Since January, 2024, Black Mammoth Metals has acquired a 100-per-cent interest in:

• The Amador silver property, Lander county, Nevada;
• The Big Bear copper property, Gila county, Arizona;
• The Zulu gold property, Gila county, Arizona;
• The Northern Star property, La Paz county, Arizona;
• The Coal Canyon gold property, Pershing county, Nevada;
• The Island Mountain gold district (including Coleman Canyon, St. Elmo and Diamond Jim (silver (Ag), lead (Pb), zinc (Zn), antimony (Sb))), Elko county, Nevada;
• The Clover high-grade gold property, Elko county, Nevada;
• The Leadore silver-lead-REE property, Lemhi county, Idaho;
• The East Reveille gold property, Nye county, Nevada;
• The America Mine Gold property, San Bernardino, Calif.;
• The Quito gold property, Lander county, Nevada;
• The South Ravenswood gold district (including the Raven and Happy Cat properties), Lander county, Nevada (Happy Cat was purchased prior to January, 2024);
• The Callaghan gold district (including the North Callaghan, Charlie, Cottonwood and Rast properties), Lander county, Nevada.

Black Mammoth also has a 100-per-cent interest in the Blanco Creek gold property in the Elk Creek mining district, 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.

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 news release.

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