Mr. Dustin Henderson reports

BLACK MAMMOTH METALS OBTAINS DRILL PERMIT FOR LEADORE SILVER-LEAD-REE PROPERTY, ID

Black Mammoth Metals Corp. has received final approval to drill test priority targets at its Leadore silver-lead-rare-earth-element property. Up to 12 drill sites, all on lands administered by the Bureau of Land Management, have been selected to:

• Expand the known oxide mineralized area (silver-lead);
• Test the sulphide target identified by the company's recent induced polarization survey (silver-lead);
• Start to test the extent of oxide rare earth element placer layer.

Oxide target (silver-lead)

A prior operator at Leadore in 2012 drilled six relatively shallow core holes with maximum depth of 105 metres. All holes encountered significant silver-lead mineralization in the area of the three historic mines: Kimmel, Leadville and Baby Joe, and a new disseminated mineralized zone in brecciated granite was discovered. This drilling has not yet been followed up.

The soil anomaly contours of a historical soil survey also conducted in 2011 by the same prior operator mainly identified an extensive silver-lead zone centred on the three historic mines with a combined silver-lead area of approximately 4.5 square kilometres.

Sulphide target (silver-lead)

Black Mammoth's recent IP survey delineated a large chargeability anomaly with coincident low resistivity within the carbonate host rocks underlying the historic Kimmel mine (see the company's news release dated June 24, 2025).

The Kimmel shares a known silver-lead mineralized northwest-trending fault with the anomaly, where three major fault intersections are adjacent to the anomaly on the south side. At the centre of the Leadore camp, the Kimmel was reportedly the most productive historic mine. The historical mining data and recent drilling results indicate that sulphide-bearing ores remain open along the northwest-trending fault and at adjacent fault intersections, which are situated at the base of the Beaverhead mountains and below pediment cover. The maximum east-west width of the anomaly is estimated at 400 metres, and the depth from surface to the top of the anomaly is estimated at 200 to 250 m with an overlying silver-lead oxide layer and a placer (rare earth elements) mineralized layer.

Rare earth element target

Black Mammoth's recent rock chip sampling has identified REE mineralization that occurs in a placer or laterite horizon sitting atop the known fault-hosted lead and silver mineralization in the area of the historic Leadville mine. This REE mineralized area newly identified in 2025 is an oxidized layer that does not continue at depth (see the company's news release dated March 4, 2025). Drill assays results should start to delineate the extent of the placer REE mineralization.

Black Mammoth has a 100-per-cent interest in Leadore with no royalties.

The company continues to acquire non-core exploration interests in the western United States by purchase or staking.

About Black Mammoth Metals Corp.

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

• Mustang gold-silver property, Nye county, Nevada;
• Ramsey silver property, La Paz county, Arizona;
• Gallinas rare earth property, Lincoln county, New Mexico;
• Amador silver property, Lander county, Nevada;
• Big Bear copper property, Gila county, Arizona;
• Zulu gold property, Gila county, Arizona;
• Northern Star property, La Paz county, Arizona;
• Coal Canyon gold property, Pershing county, Nevada;
• Island Mountain gold district (including Coleman Canyon, St. Elmo and Diamond Jim (silver, lead, zinc and antimony)), Elko county, Nevada;
• Clover high-grade gold property, Elko county, Nevada;
• Leadore silver-lead-rare-earth-element property, Lemhi county, Idaho;
• East Reveille gold property, Nye county, Nevada;
• America mine gold property, San Bernardino, Calif.;
• Quito gold property, Lander county, Nevada;
• South Ravenswood gold district (including the Raven and Happy Cat properties), Lander county, Nevada (Happy Cat was purchased prior to January, 2024);
• Callaghan gold district (including 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), director of Black Mammoth, has reviewed and approved the technical content in this release.

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