Mammoth Minerals Advances Multiple Gold Projects Across Key Mining Districts

Mammoth Minerals Completes Strategic US Gold Acquisitions and Strengthens Board

Mammoth Minerals (ASX: M79) has finalized acquisitions of high-grade gold projects in Nevada and South Dakota while appointing experienced North American resource financier Kevin Puil to its board.

Transformational US Gold Strategy Takes Shape

Mammoth Minerals has successfully completed the acquisition of both the Excelsior Gold Project in Nevada and the Bella Gold Project in South Dakota, marking a pivotal moment in the company’s evolution. These acquisitions, approved with overwhelming shareholder support, position Mammoth as an emerging player in established US gold mining districts.

Managing Director Glenn Poole emphasized the significance of these developments: “Completing these USA gold option agreements with overwhelming shareholder support is a transformational step for the Company. As we now rapidly accelerate to the next steps at Excelsior Springs in Nevada with the imminent start of our maiden drill program, the focus will be on defining a maiden resource across the Buster trend.”

The company is wasting no time in advancing its newly acquired assets, with drilling at Excelsior Springs set to commence imminently.

Board Strengthened with North American Expertise

In conjunction with finalizing these gold acquisitions, Mammoth has made significant changes to its leadership team:

• • Kevin Puil joins as Non-Executive Director, bringing 25 years of experience in the resource sector as a fund manager and investment analyst. Notably, Mr. Puil serves as an Independent Director of NYSE-listed Dakota Gold and is the Managing Partner of RIVI Capital LLC, a private equity firm specializing in precious metals.

• • Rob Jewson transitions from Non-Executive Chairman to Executive Chairman, reflecting his increased commitment to guiding the company through its next development phase. Mr. Jewson will receive remuneration of $250,000 per annum in his new executive role.

These board changes strategically position Mammoth to leverage North American capital markets and expertise as it develops its US gold portfolio.

What is the Walker Lane Trend?

The Walker Lane Trend, where Mammoth’s Excelsior Gold Project is located, represents one of Nevada’s most significant gold-producing geological formations. This structural zone extends along the Nevada-California border and has produced over 50 million ounces of gold historically.

Unlike Nevada’s famous Carlin Trend, which typically hosts microscopic gold in sedimentary rocks, Walker Lane deposits often feature visible gold in quartz veins associated with volcanic activity. These high-grade vein systems can be more economical to mine, even at smaller scales, providing companies like Mammoth with opportunities to develop profitable operations without the massive capital requirements of larger disseminated deposits.

For investors, Walker Lane projects offer exposure to high-grade gold potential in a tier-one mining jurisdiction with established infrastructure and permitting frameworks.

Exploration Roadmap and Near-Term Catalysts

Mammoth is pursuing a multi-faceted exploration strategy across its expanded portfolio:

• • Excelsior Gold Project (Nevada): Maiden drilling program imminent, focusing on defining a resource across the Buster trend. The company benefits from significant historical drilling data, providing a solid foundation for resource development.

• • Bella Gold Project (South Dakota): Exploration targeting work continues with reprocessing of geophysical data to correlate known high-grade drill results with associated magnetic and electromagnetic responses, refining future drill targets.

• • Skyline VMS Copper-Zinc-Silver Project (Newfoundland): Advancing this district-scale opportunity encompassing a historic mine with 25km strike of highly prospective VMS lithology.

• • Peruvian Copper Projects: Exploring the 100%-owned Picha Copper-Silver Project (244 km²) and Charaque Copper Project (60 km²) for potential Tier-1 copper-gold discoveries. The Picha project is part of the prestigious BHP Xplor 2025 accelerator program.

This diversified approach across multiple jurisdictions and commodities provides Mammoth Minerals gold projects with multiple pathways to value creation and mitigates exploration risk.

Investment Proposition: Gold and Copper Exposure in Premier Jurisdictions

Mammoth offers investors a compelling opportunity through its strategic positioning in both gold and copper assets across tier-one mining jurisdictions. The company’s investment case centers on:

1. 1. High-grade gold potential in established US mining districts – Nevada ranks consistently as one of the world’s top mining jurisdictions, while South Dakota hosts the legendary Homestake Mine (40+ million ounces historical production)

1. 1. Diversified commodity exposure with both gold and copper assets providing resilience across different market cycles

1. 1. Board and management strength enhanced by Kevin Puil’s appointment, bringing North American capital markets experience and industry connections

1. 1. Multiple near-term catalysts including imminent drilling at Excelsior and ongoing exploration across the portfolio

1. 1. BHP Xplor acceleration for the Picha Copper Project, providing validation from one of the world’s largest mining companies

“As the Company takes these next key steps, we are excited to welcome Kevin Puil to the board. Kevin brings a wealth of knowledge of the US resources space and significantly broadens our distribution network in North American markets, which will be a big advantage for us as we unlock the potential of these newly acquired gold projects,” said Managing Director Glenn Poole.

Why Investors Should Watch Mammoth Minerals

Mammoth Minerals represents an emerging opportunity at the intersection of gold and copper exploration, with assets strategically located in some of the world’s premier mining jurisdictions. The completion of these US gold acquisitions, combined with the strengthening of the board through Kevin Puil’s appointment, signals the company’s evolution into a more focused and capable explorer.

With drilling about to commence at Excelsior Springs, Mammoth enters a potential value-creation phase where exploration success could drive significant revaluation. The company’s diversified portfolio approach provides multiple opportunities for discovery while mitigating the inherent risks of early-stage resource exploration.

Poole further emphasized the company’s exploration momentum: “Meanwhile, exploration targeting work continues at Bella in South Dakota with a focus on re-processing of the geophysical data to correlate known high-grade drill results with the associated coincident magnetic and electromagnetic responses to refine drill targets.”

For investors seeking exposure to both gold and copper exploration in established mining districts, Mammoth Minerals gold projects offer a compelling combination of near-term catalysts, experienced leadership, and strategic assets across multiple tiers of the resource development cycle.

The strengthening of Mammoth’s board with Mr. Puil’s appointment is particularly significant given his extensive experience in the North American resource sector. As the Managing Partner of RIVI Capital LLC, a private equity firm specializing in precious metals, and with his role as an Independent Director of Dakota Gold, Puil brings valuable networks and insights that could prove instrumental as Mammoth develops its US gold assets.

The transition of Rob Jewson to Executive Chairman further underscores the company’s commitment to advancing its portfolio, with Jewson now taking a more hands-on role in guiding strategic development across Mammoth Minerals gold projects in multiple jurisdictions.

Furthermore, the company’s focus on developing high-grade copper projects alongside its gold assets provides investors with balanced exposure across two highly sought-after metals. This diversification strategy could prove particularly valuable as global demand for both precious and industrial metals continues to grow.

In addition, the company’s exploration activities at the Skyline VMS project offer potential for promising intercepts of base and precious metals, adding another dimension to Mammoth’s growing portfolio of resource opportunities.

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