High Grade Mineralization Discovered At The Leadore Property

VANCOUVER - Black Mammoth Metals Corporation reported the discovery of high-grade rare earth element (REE) mineralization at its Leadore Property in Lemhi County, Idaho. Recent rock chip sampling has returned grades of up to 7.6% total rare earth oxides (TREO) with a highly favorable NdPr (neodymium-praseodymium) ratio averaging 26% in five samples grading over 1% TREO. This newly recognized REE mineralization occurs in a placer or laterite horizon sitting atop the known fault-hosted lead and silver mineralization.

All samples taken in the laterite horizon are REE enriched with five samples exceed 1% TREO, with the highest sample returning 7.6% TREO. NdPr ratios are high, averaging 26%; neodymium and praseodymium are economically important critical metals used in electric vehicle motors and turbines. This new REE mineralization is on trend with the Idaho REE-Belt, a series of lode/vein and placer REE deposits trending northwest through nearby Salmon, ID. Low phosphorus, thorium and uranium content suggests REEs are hosted in oxide minerals rather than phosphates, increasing potential processability and with minimal radioactivity.\

The newly identified REE mineralization at Leadore is oxide-dominant, with mineralization likely hosted in bastnäsite and associated Fe-Mn oxides, rather than traditional phosphate minerals with elevated Th-U such as monazite. The mineralization occurs in a lateritic environment, indicating supergene enrichment through weathering processes or transport from a nearby REE-rich intrusion or vein. This setting is similar to economically viable REE deposits worldwide, including China's ion-adsorption clay deposits, which are known for their ease of processing and similarly elevated NdPr and TREO.

Next Steps: 1) Mineralogical Studies: Conduct mineralogical test work, such as Tescan Integrated Mineral Analyzer (TIMA-X), to identify REE mineral species and to assess potential for processing. 2) Further Sampling: Sample laterite outcrops along trend to assess scale and continuity of the REE mineralization. 3) Refining the Geologic Model.

Dustin Henderson, CEO, said, "We are extremely encouraged by these results, which confirm high-grade rare earth mineralization at Leadore with an economically attractive NdPr ratio. With permanent magnet rare earths being sought after elements, this discovery may position Black Mammoth to play a significant role in the North American REE supply chain. Our next steps at Leadore will help our understanding of processing potential."