2018-01-02 08:18 ET - Mr. Thomas Atkins reports Mammoth Resources Corp. has settled debts totalling $21,000 owed to certain insiders, via the issuance of 192,500 common shares of the company, at a price of 12 cents per share pursuant to the minimum pricing rules of the TSX Venture Exchange and subject to TSX Venture Exchange final approval. Furthermore, the company would like to announce its year-end stock option grant of a total of 782,917 stock options to management and directors of the company at an exercise price of 12 cents per share and subject to the terms of the company's stock option plan. Shares for debt and options pricing are based on the company's closing share price on Dec. 29, 2017.

Thomas Atkins, president and chief executive officer of Mammoth, commented on the debt settlement and options issuance, stating: "These shares for debt and options are being issued at a 33-per-cent premium to the recently closed private placement financing. The settlement of debt for shares, where certain insiders were willing to accept such shares enables this amount to be invested in drilling, With the company soon to begin releasing results from its diamond drill program at the Tenoriba gold-silver property in Chihuahua, Mexico, this share for debt and the annual option issuance is timed prior to any news flow on the drilling where blackout periods can occur and to eliminate any risk that the timing of any future share/option issuance may be influenced by knowledge of pending results. The company expects to report on the results from this drilling in the coming weeks as results become available."

About Mammoth Resources Corp.

Mammoth Resources is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The company has an option to acquire 100 per cent in the Tenoriba property located in the Sierra Madre precious metal belt in southwestern Chihuahua state, Mexico, and is seeking other option agreements in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.