Black Mammoth Metals acquires Ramsey property

On November 19, 2025, Black Mammoth Metals announced the acquisition of the Ramsey Silver property in Arizona. The property, consisting of 2 patented claims and 12 federal lode claims, was acquired from a private vendor for a total cash consideration of $42,000 USD. The acquisition is notable for being royalty-free, with no finder's fees or share compensation involved.

The company highlighted historical drill results from 2017 conducted by a previous operator, Arizona Silver Exploration. These results included intercepts of 44.4 meters grading 62.5 g/t silver and a broader interval of 88.4 meters grading 42.6 g/t silver. Black Mammoth stated its intention to commence a review of the historical data package and conduct an on-site evaluation.

The acquisition of the Ramsey Silver property is a routine business development move that is consistent with the company's strategy of acquiring exploration projects across the Western USA.

• Financial Impact: The $42,000 USD purchase price is negligible compared to the company's cash position of approximately $2.9 million as of June 30, 2025. It does not materially affect the company's financial standing. Acquiring the property without any attached royalties is a positive, differentiating it from many of the company's other properties which are encumbered by NSRs.

• Strategic Impact: This adds another early-stage silver project to a portfolio heavily weighted towards gold. While this diversifies their commodity exposure slightly, it also contributes to an already sprawling portfolio of over a dozen properties. This "shotgun" approach can spread management focus and capital thin.

• Historical Context: This acquisition follows the more significant purchase of the America Mine for $500,000 USD in October 2025 and a year-long string of property acquisitions and staking campaigns. The Ramsey deal is minor in comparison.

• Exploration Potential: The historical drill results are encouraging and suggest near-surface, bulk-tonnage silver potential. However, as a critical analyst, it must be emphasized that these results are historical, not NI 43-101 compliant for Black Mammoth, and require verification through new drilling. They serve as a guide for exploration but cannot be relied upon.

Overall, the news is a small, incremental positive. It was a low-cost acquisition of an asset with some defined exploration potential and no royalty burden. However, it is not a game-changer and does not alter the fundamental investment thesis, which rests on the potential of its more advanced gold projects in Nevada and Idaho. The market's reaction should be neutral to slightly positive, as it does not provide any new data on their core projects.

Black Mammoth Metals Corporation is a Canadian-based junior mineral exploration company. Its strategy revolves around acquiring, exploring, and developing a diversified portfolio of precious metals, base metals, and REE projects, primarily located in mining-friendly jurisdictions in the Western United States, including Nevada, Idaho, Arizona, California, and New Mexico.

The company does not have a single designated flagship project. Instead, it employs a portfolio or "project generator" model, advancing multiple assets simultaneously. Key projects that have received significant attention and exploration work include: - Callaghan Gold District (NV): A Carlin-type gold target where the company completed a Phase I drill program in early 2025. - Happy Cat Property (NV): Another Carlin-type gold target subjected to stratigraphic drilling in early 2025 to understand geology under volcanic cover. - Leadore Property (ID): A silver-lead project where the company announced a high-grade rare-earth element (REE) discovery in a placer/laterite horizon in March 2025. - Coleman Canyon (NV) & America Mine (CA): Two of the more significant recent acquisitions with historical data and resources that the company plans to advance.