Black Mammoth Metals Finds Chargeability Anomalies and Stakes Claims at Cottonwood, NV

The October 16, 2025 press release announces the results of a pole-dipole Induced Polarization (IP) survey at the Cottonwood target on its Callaghan property in Nevada. The survey identified several high chargeability anomalies which are interpreted to be related to high sulphide content and potentially a large, intrusive-related gold system. These anomalies provide three potential drill targets along a prospective corridor measuring 3.5km by 1.3km. Concurrent with the survey, the company staked an additional 152 unpatented lode claims, expanding the property to a total of 214 claims covering 1,785 hectares. The company plans to amend its Notice of Intent to facilitate drill testing of these newly defined targets.

This news is a logical and necessary follow-up to the company's previous work at the Callaghan property. Reviewing the historical news chronologically provides essential context: * February 11, 2025: Black Mammoth announced the commencement of a 1,500m drill program at the Callaghan property, targeting the Rast and Cottonwood zones. * May 14, 2025: The company reported results from this Phase I drill program. The highlight was hole CW-2B at Cottonwood, which intersected 61 metres of 0.416 g/t gold, including a higher-grade intercept of 3.048 metres of 3.57 g/t gold. This result was significant as it suggested the presence of a large, intrusive-related gold system and prompted the company to plan for an IP survey to define targets for the next phase of drilling. * October 16, 2025 (Most Recent News): Today's news reports the successful completion of that IP survey. The identification of large chargeability anomalies validates the interpretation from the May drill results and provides specific, de-risked targets for future drilling. The significant expansion of the land package shows confidence in the district-scale potential.

While positive, this news is routine for an exploration company. Geophysical surveys identify targets; they do not discover ounces of gold. The market has already reacted strongly to the May drill results, with the stock price increasing from ~$1.70 to over $4.00. This news meets the expectations set in May but does not materially change the investment thesis until these new targets are drill-tested. The outcome is positive as it confirms the geological model and provides a clear path forward, but it is not a discovery in itself.

Black Mammoth Metals Corporation is a junior mineral exploration company employing a project generator strategy. It is focused on acquiring, exploring, and developing a large portfolio of properties, primarily for gold, silver, and rare-earth elements, located in the Western United States (Nevada, Idaho, Arizona, California, New Mexico). While the company has numerous projects, the Callaghan Gold Property in Lander County, Nevada, has emerged as its flagship project following the encouraging drill results announced in May 2025.