Mammoth Resources Corp.
TSX VENTURE : MTH

April 12, 2012 09:00 ET

Mammoth Appoints New CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2012) - Mammoth Resources Corp. ("Mammoth" or the "Company") (TSX VENTURE:MTH), is pleased to announce the appointment of Mr. Thomas Atkins as President and Chief Executive Officer of the Company effective immediately. Mr. Atkins is an accomplished mining executive who has successfully lead exploration and development projects throughout the Americas over the past 28 years. He has an extensive background in mineral exploration, investment banking, investor relations, executive management and corporate governance. Mr. Atkins was formerly the CEO of such companies as Rockex Ltd. (now Rockex Mining, a TSX listed iron ore exploration company), Castle Gold Corp. (a Mexican and Guatemalan gold producing company acquired in 2010 by Argonaut Gold Inc. (a TSX listed gold producer)) and Crowflight Minerals Inc. (a TSX listed nickel mining company).

Edward Farrauto, Director stated: "We are very pleased to have Mr. Atkins join Mammoth's management team as President and CEO. Tom has a proven track record in mineral exploration, financing, mergers and acquisitions, investor relations, executive management and corporate governance."

Mr. Atkins commented on his appointment, stating: "I am very pleased to be joining Mammoth Resources as President and CEO. Mammoth's option agreement with Yale Resources on the Urique Project in Mexico gives the Company the opportunity to advance a strategic land position in one of the most prolific gold regions of the world. The company is beginning to build a very solid and capable team with the likes of Richard Simpson, the company's VP exploration based in Mexico, and I am confident that with the Urique Project and Richard's and my experience in exploration and project evaluations and acquisitions, coupled with the skills of the members of the board of directors, that there is significant potential to build the company through Urique and other project acquisition opportunities."

In conjunction with the new senior management appointments Mr. Edward Farrauto, CGA has stepped down as President and CEO. Mr. Mark Hunter has stepped down as a director. The Company would like to thank Mr. Farrauto and Mr. Hunter for their contributions as a founding executive and a director of the Company, respectively. Mr Farrauto will continue as a director of Mammoth.

Mr. Atkins has been granted 450,000 stock options, subject to shareholder approval, expected to be obtained at the Company's next annual general meeting to be held on May 23, 2012. Each stock option will be exercisable at $0.25 and will expire five years from the date of the grant.

About Mammoth Resources Corp.:

Mammoth Resources Corp. (TSX VENTURE:MTH) is a mineral exploration company focused on acquiring and defining gold and silver resources in Mexico. The Company has an option to acquire 100% of the Urique Project located in the Sierra Madre Precious Metals Belt, in southwestern Chihuahua State.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Mammoth with respect to its future events including statements with respect to its exploration activities. Such statements are subject to a number of risks, uncertainties and assumptions which may cause actual results to be materially different from those expressed or implied and includes uncertainties regarding implementation of the Company's business strategies and plan and changes in the regulatory environment affecting the Company. The Company assumes no future obligation to update these forward-looking statements except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mammoth Resources Corp.
    Edward Farrauto
    (604) 687-3992