Mr. Thomas Atkins reports

MAMMOTH ANNOUNCES FINAL CLOSING OF ITS UPSIZED $980,000 PRIVATE PLACEMENT

Mammoth Resources Corp. has received TSX Venture Exchange approval for a final closing of 39,222,300 units, consisting of one common share and one-half common share purchase warrant for gross proceeds of $980,000 of its recently announced, upsized private placement of up to 39 million units, for gross proceeds of up to $980,000. The upsized private placement is at the same terms as the company's initially announced $750,000 private placement (refer to press release dated June 5, 2025), wherein each unit offered at a price of 2.5 cents per unit, consists of one common share of the company and one-half common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share until 18 months following the closing of the private placement, at an exercise price of five cents. The final closing date of the private placement is Aug. 18, 2025.

As part of this private placement, Jose Antonio Berlanga Lopez, has purchased a 19.2-per-cent interest in Mammoth, such investment in support of the previously announced strategic alliance between Mammoth and RM Mineria S de RL de CV (refer to press release dated June 5, 2025).

Thomas Atkins, president and chief executive officer of Mammoth, commented on the closing of the financing and next steps in the advancement of the company, stating: "It's terrific that there was such enthusiastic demand for Mammoth's shares in this private placement that we were able to upsize the amount from an initially announced $750,000 placement to $980,000. Both the strategic partners and Mammoth management and directors were significant participants in this financing. With the funds in place, we look forward to working with our strategic partners, wherein we can combine Mammoth's efforts in Mexico with a group of experienced Mexican mine builders on projects in Mexico."

Jose Antonio Berlanga Lopez, president of RM Mineria S de RL de CV, reiterated his enthusiasm for the financing and working with Mammoth, stating: "I'm happy that Mammoth was able to do so well in this financing. We look forward to working together with Mammoth management, combining our experienced group of mining and metallurgical professionals with an abundance of success developing and restarting mineral extraction and processing facilities throughout Mexico, to build a strong platform of project development opportunities in Mexico."

Mammoth believes that no party to this private placement would be considered a related party as no party acquiring greater than 10 per cent of the shares of the company held any shares in Mammoth prior to this financing and that despite a single investor acquiring more than 10 per cent of the outstanding shares of Mammoth via this transaction, that such investment being below 20 per cent, that no control person has been created and that blocking language within the warrant certificates to this financing prohibits gaining any greater than a 20-per-cent interest in the company, and that this transaction neither constitutes an insider bid, issuer bid or business combination. Furthermore, if the acquisition by any party of greater than 10 per cent of the company via this private placement were to have been considered a related party transaction, Mammoth believes it would be exempt from related party disclosure obligations under Toronto Stock Exchange Policy 5.9 (reference to document OSC MI 61-101), sections 5.5 (b) and (g) and 5.7 (1) (b), (i), (ii), (iii), (iv) and (e).

The strategic alliance

Mammoth personnel were in discussions with the principals of RM Mineria S de RL de CV (RM) for several months, building the company's relationship and combined vision for the future, which has led to the formation of a strategic alliance between the parties. Mammoth sees an attractive union of initiatives from the strategic alliance with RM, including direct Mexican mineral project development experience and success that has the potential to enhance the future development of Tenoriba while also offering Mammoth's shareholders exposure to future mineral production opportunities at a time when commodity prices are on the rise.

One of the two principals of RM includes Mr. Berlanga Balderas, chief executive officer of RM, a private Mexican company formed by a group of mining and metallurgical specialists. Mr. Berlanga Balderas is a professional mining and metallurgical engineer with over 45 years experience identifying, developing, operating and optimizing mineral extraction opportunities in the Mexican mining sector. Mr. Berlanga Balderas experience includes: providing technical services to Minera Autlan, and Servicios Industriales Penoles, while general director Minas Nuevas, he directed one of the first heap leaching operations in Mexico; as founder of Minera Mexico Michoacan, he was in charge of developing the El Oro project; he was technical deputy director of the mining development trust (a Mexican state-owned company that offers financing and technical assistance to mining companies); and as development manager, Internacional de Metales Precios, was instrumental in the success of one of the main gold and silver trading companies in Mexico.

Mr. Berlanga Balderas has a strong record in the Canadian junior mining industry, bringing significant experience to companies in which he has participated and resulting in significant value creation, including: Aurcana Corp.'s La Negra mine, Cayden Resources' El Barqueno and various Morelos Sur projects, Skeena Resources' Malpica project, Cortez Goldcorp's Altiplano operation, and Telson Mining's (now Luca Mining) Tahuehueto and Campo Morado mine and facilities.

Mr. Berlanga Balderas has been president of the Colegio de Ingenieros de Minas y Metalurgistas y Geologos de Mexico (CIMMGM), has been district president and member of the National Board of Directors in the Asociacion de Ingenieros de Minas, Metalurgistas y Geologos de Mexico (AIMMGM), and is a member of the Prospectors and Developers Association of Canada (PDAC) and the American Institute of Mining Engineers (AIME).

Mr. Berlanga Balderas is supported at RM by Mr. Berlanga Lopez, president of RM. A professional mining and metallurgical engineer, Mr. Berlanga Lopez has more than 20 years experience in Mexico. He is a graduate from the Universidad Nacional Autonoma de Mexico (UNAM) and has a strong background investigating mining opportunities, start-up companies, business strategy and mineral concentrate trading in Mexico and has worked for several companies, such as Minera La Negra, Altiplano Gold Silver, Mercuria, Azure Minerals and Reyna Mining Engineering.

Mr. Berlanga Lopez is a member of the Colegio de Ingenieros de Minas y Metalurgistas y Geologos de Mexico (CIMMGM), the Asociacion de Ingenieros de Minas, Metalurgistas y Geologos de Mexico (AIMMGM) and of the Prospectors and Developers Association of Canada (PDAC).

About Mammoth Resources Corp.

Mammoth Resources is a precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining-friendly jurisdictions in the Americas. The company holds a 100-per-cent interest (subject to a 2-per-cent net smelter royalty purchasable anytime within two years from commencement of commercial production for $1.5-million (U.S.)) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre precious metal belt in southwestern Chihuahua state, Mexico. Mammoth is seeking opportunities to invest in additional exploration and development projects in the Americas on properties it deems to host above-average for economic concentrations of precious metals mineralization. Mammoth recently entered into a strategic alliance with RM Mineria S de RL de CV of Mexico in pursuit of additional project development opportunities.

We seek Safe Harbor.