SOURCE: Mammoth Energy Group, Inc.

Mammoth Energy Group, Inc.

November 14, 2011 15:00 ET

Mammoth Energy Group Acquires Additional 2500 Hectares of Lithium Reserves

Arrangement Reached to Dismiss the Company From Lawsuit in the US District Court for the Southern District of New York

NEW YORK, NY--(Marketwire - Nov 14, 2011) - Mammoth Energy Group Inc. (PINKSHEETS: MMTE) a lithium and alternative energy mining company announced today that its wholly owned subsidiary Compania Lithium Investments Limitada of Chile has acquired ten additional Lithium concessions for a total of 6177 acres (2500 hectares) in the Laguna Paquisa located in the Putre commune in Chile.

The claim titles are currently listed as White PP Uno, White PP Dos, White PP Tres, White PP Cuatro, White PP Cinqo, White PP Seis, White PP Siete, White PP Ocho, White PP Nueve and White PP Diez. All concessions are currently constituted and are all rights to explore.

Additionally, Mammoth Energy Group announced today that an arrangement has been reached to dismiss the Company from the lawsuit in the US District Court for the Southern District of New York. Reflecting on this dismissal, Mr. Lieberman commented, "I am very pleased to have it formally resolved for our Company and all our Shareholders. Going forward, this allows us to more efficiently take the actions we need to make the Company a success and reach our goals."

Mammoth Energy Group's Compania Lithium Investments Limitada has already acquired an initial thirteen lithium concessions for a total of 8649 acres (3500 Hectares) in the southern section of the Salar de Maricunga, seven concessions for a total of 4695 acres (1900 hectares) in the Salar de Pujsa, 2471 acres (1000 hectares) in the Salar del Laco for a total of over 24,000 combined acres throughout Chile. The company is currently in acquisition mode and Compania Lithium Investments Limitada was created to acquire, develop and explore lithium and mining assets in Chile on behalf of Mammoth Energy Group Inc.

About Mammoth Energy Group Inc. (PINKSHEETS: MMTE)
Mammoth Energy Group Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy's goal is to become an important partner as the world's energy paradigm begins to change throughout the next decade and beyond.

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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