Mammoth Resources Corp.

Mammoth Receives Updated Drill Quote Illustrating Low US$1.70 Per Gold Equivalent Ounce Cost To Drill Initial 500,000 Ounce Exploration Target At Its Tenoriba, Gold-Silver Property, Mexico

Toronto, Canada ( April 16, 2026 ) - TheNewswire - Mammoth Resources Corp. (TSX-V: MTH), (the “Company”, or “Mammoth”) is pleased to announce that based upon updated drill contractor quotes, the Company continues to see a compelling cost relative to potential value that could be created by defining up to 500,000 gold equivalent ounces ("gold Eq") (silver is converted to gold equivalent at ratio of 75 silver to one gold), in Phase 1 drilling, within the Carneritos zone of the previously determined 1.8 million gold equivalent ounce Exploration Target (refer to press release dated May 15, 2024 for description of the Exploration Target) at its Tenoriba gold-silver exploration property in the Sierra Madre precious metal belt, Mexico.   The most competitive drill contractor quote includes an all-inclusive cost of US$304/metre (m) drilled (drilling costs are quoted in US$ in Mexico), or at today's US:Canadian exchange rate C$416/m. This quote includes drilling contractor and consumables costs, access road maintenance, drill pad construction, drill water supply, camp and equipment, all geological staffing, plus sample collection, preparation and analysis, estimates of community costs and includes a 15% contingency on the quoted cost.