SOURCE: Mammoth Energy Group Inc.

February 25, 2010 09:30 ET

Mammoth Energy Group Announces Move Into Developing Alternative Energy Sources

Company Divests Claims to Oil and Gas Project in Pawnee County, Oklahoma

NEW YORK, NY--(Marketwire - February 25, 2010) - Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced today that it is moving the company into alternative energy mining and exploration. The company is divesting its claims on its Pawnee County, Oklahoma, oil and gas project.

"The company is moving in another direction focusing on alternative energy mining and exploration and the Pawnee project no longer made sense for our strategy," said Mr. William Lieberman, Chief Executive Officer of Mammoth Energy Group. "We see where the future of alternative energy mining is moving and Mammoth Energy Group intends to have a large stake," he added.

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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