Thomas Atkins, President and CEO of Mammoth Resources commented on the amended terms stating: “The amendment to the terms of the Company’s option agreement with the vendors is reflective of the strong relationship we have with the vendors and our shared optimism in the potential of the Tenoriba High Sulphidation, precious metal project. These new terms take into account the past years of weak equity capital markets for mineral exploration companies and the potential such challenges could extend into the future. The reduction of US$41,662 in future vendor payments at the recent US$ to C$ exchange rate of US$1 = C$1.32 equates to approximately C$55,000 in reduced vendor payments. This amount divided by the 600,000 shares issued attributes a value of C$0.09 per Mammoth share whereas one month ago Mammoth announced closing a C$202,500 private placement priced at C$0.02/unit. Clearly, the issuance of these shares to reduce this payment is an attractive use of capital at this time and given the recent valuation of the Company’s shares.