Toronto, Canada — February 26, 2026 — Leads & Copy —
Mammoth Resources Corp. has announced the selection of potential draw point locations for its small-scale, gold-silver mineral extraction and pilot leach test at the Carneritos area within its Tenoriba project in Chihuahua State, Mexico.
Company geologists have analyzed surface chip, channel, and drill-hole assay results, geological features, and access points to identify areas with higher-than-average grades for small-scale, gold-silver mineral extraction and pilot leach testing within the 1.5 by 0.5 kilometre Carneritos area.
Thomas Atkins, President and CEO of Mammoth Resources, stated the company has identified mineralized areas from which they believe potential exists to extract initial volumes of gold-silver mineralized rock from surface to shallow depths and from which initial pilot leach scale testing could be performed. The next steps involve site and field checks to define the surface footprint and estimate the potential tonnage of these areas.
The company is excited by the grades at surface, with averages from samples at or above one gram per tonne gold equivalent and up to almost four grams per tonne, and the potential to efficiently recover gold and silver via pilot leaching.
Table 1 outlines average grades within draw point locations:
Draw Point A shows 79 surface samples averaging 0.97 g/t gold equivalent and drill hole TEN17-06 with 126.8 metres @ 0.52 g/t, including 58.2 @ 0.80 and 25.0 @ 1.21.
Draw Point B shows 68 surface samples averaging 1.48 g/t gold equivalent and drill hole TEN21-12 with 46.5 @ 0.52.
Draw Point C shows 40 surface samples averaging 2.26 g/t gold equivalent and drill hole TEN21-03 with 43.5 @ 0.59, including 6.0 @ 0.73 and 4.5 @ 0.73; TEN21-16 with 12.0 @ 0.61, including 85.7 @ 0.47 and 6.0 @ 0.97; and TEN21-18 with 81.0 @ 0.48, including 3.0 @ 0.82, 7.5 @ 0.76, and 12.0 @ 1.07.
Draw Point D shows 12 surface samples averaging 1.63 g/t gold equivalent and drill hole TEN21-04 with 19.5 @ 0.63, including 10.5 @ 0.97.
Draw Point E shows 17 surface samples averaging 1.48 g/t gold equivalent and drill hole TEN21-15 with 30.0 @ 0.63, including 3.0 @ 1.21 and 6.0 @1.02.
Draw Point F shows 11 surface samples averaging 3.86 g/t gold equivalent with no drilling at this target.
Drill intervals use a 0.18 g/t gold equivalent cut-off grade. Gold equivalent is calculated with a gold : silver ratio of 1 : 75.
Future work includes site and field checks of draw point locations to define their surface footprint and estimate potential tonnage. Additional metallurgical testing will be performed on coarser-grained, near-surface oxidized and oxidized-transition zone material from these draw points and other mineralized areas, possibly in bottle roll or column tests. This material will be crushed and screened for a 3/8-inch diameter size fraction, followed by column testing to determine leach kinetics. These tests would validate and enhance confidence in gold and silver metallurgical recoveries by cyanide heap leach methods, plus reagent consumption to achieve favorable gold and silver recoveries and the potential economics of this process.
Samples were prepared and analyzed by ALS laboratories in Mexico and Canada. Samples consisted of a minimum of 2 kilograms of material. Drill core is mostly HQ diameter core with minor lengths of NQ diameter core. Core is sawn in half, with one half used for sample analysis. Chip and channel samples are most often 1.5 metres in length. Gold and silver analyses are performed in ALS’s facility in Canada via a 30-gram fire assay with an atomic absorption finish. Silver, copper, lead and zinc are analyzed as part of a multi-element ICP package using a 4-acid digestion. Blank and duplicate samples are inserted randomly at approximately every 15 samples.
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp., is Mammoth’s Qualified Person under National Instrument 43-101 and has reviewed all technical data in this release.
Mammoth Resources (TSX-V: MTH) is focused on acquiring and defining precious metal resources in Mexico and other mining-friendly jurisdictions in the Americas. The Company holds a 100% interest in the 5,333-hectare Tenoriba gold property in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking opportunities to option exploration projects in the Americas and recently entered into a strategic alliance with RM Mineria S de RL de CV of Mexico.
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Source: Mammoth Resources
