Mammoth Resources Corp. announces that it has received notification from Minera Centerra S.A. de C.V., the subsidiary company of Centerra Gold Inc. (collectively "Centerra"), with which Mammoth signed an option agreement to explore Mammoth's 100% owned Tenoriba gold-silver exploration project located in southwestern Chihuahua State, Mexico, that Centerra has made the decision to cease exploration activities in Mexico, including at Tenoriba. In a conference call wherein Mammoth was informed of Centerra's decision to cease exploration activities, Centerra expressed their enthusiasm for drilling the Tenoriba project. Furthermore, in the notice letter to Mammoth advising of this decision Centerra noted that the decision to cease exploration was "no reflection upon any of the exploration properties it was involved in, including the Tenoriba property. In mid-August Centerra filed an application for permission to drill up to 139 drill locations at Tenoriba and a response/approval of this permit application is expected within weeks. Tenoriba Exploration Highlights: Flagship gold-silver advanced stage exploration project in the prolific Sierra Madre precious metal producing region. Large 15 square km - 5 km x 3 km footprint of ubiquitous gold-silver mineralization in what has all the characteristics of a High Sulphidation - Porphyry precious metal system, remains open along strike. Highest gold and silver values sampled graded 74 grams/tonne (g/t) gold and 62 g/t silver. Various targets over 4 km of the mineralized trend tested by 26 diamond drill holes of which 18 drill holes host tens of metres (m) of potentially economical gold-silver mineralization; drill intersections assayed grading up to 45.9 g/t gold over 1.9 m with lower grades over longer intersection widths, including 2.3 g/t gold over 43.0 m and up to 0.5 g/t gold over 126.8 m. Mineralization appears amenable to low-cost open pit mining and heap leaching processing. Drill ready with permit for up to 139 drill holes covering a 2.25 km x 1.25 km area submitted for approval. Centerra, during its 21 months optioning the project has spent almost CAD 1.2 million at Tenoriba, with total prior direct project exploration spending at Tenoriba exceeding CAD 4 million. Recent Activities at Tenoriba: Over the past six months in preparation for drilling, activities at Tenoriba included: Extensive surface lithological and structural mapping and sampling (137 samples collected and analysed by Centerra in addition to the more than 650 samples collected and analyzed by Mammoth) and drill core mapping and sampling (including Terraspec alteration clay analysis) by Centerra geologists. Reinterpretation of the geophysical data from the Mammoth 2015 IP-Mag geophysics survey. Drill hole targeting, including the creation of numerous cross sections consolidating surface, drill core and geophysical information. Submitted an application for a drill permit for up to 139 drill locations covering a 2.25 km x 1.25 km area of the property. Two drill contractors were preparing bids on the Centerra drill program. Steps Forward for Mammoth: Numerous options are currently under consideration in order to advance Tenoriba following Centerra's notice and taking into account the project's advanced stage of drill program readiness, these activities include: Review with Centerra geologists their drill targeting assessment, including review of its reinterpretation of the geophysical data, structural and lithological mapping, surface and drill hole sample results and the sections produced from this work. Consult with the two communities (ejidos) that oversee and had granted surface access at Tenoriba regarding continuation of surface access. Potentially commission an independent third party with in-depth experience of High Sulphidation-Porphyry mineralogical systems similar to Tenoriba to review the geological data set and make recommendations for the next phase of exploration. Explore optioning Tenoriba to another well capitalized mining/mineral exploration company. Reach out to individual investors, resource investment funds and royalty companies to source the capital to enable Mammoth to advance its initial assessment of drill targets at Tenoriba, including those identified by Centerra, following up on potentially economic intersections from prior drilling at Tenoriba and/or targets recommended by the aforementioned experienced third party technical review and based on these targets determine the feasibility and source the funds required to advance drilling. Merge Mammoth with another junior exploration company whereby the combination of companies creates enhanced exposure and attractiveness to raise the funds required to advance exploration at Tenoriba.