NEW YORK, NY -- (Marketwire) -- 07/26/12 -- Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced today that lithium assets pricing per acreage comparable to MMTE has increased substantially over the last three years.
'Recent developments in the sector include lithium Galaxy Resources acquiring Lithium One and valuing their lithium assets in Argentina at nearly ninety million dollars on a share adjusted basis,' said William Lieberman, President of Mammoth Energy Group. He added, 'Lithium One paid or had agreements to pay a combined number of close to six Million dollars for over 25,000 hectares at the Hombre de Muerto Salar based on SEDAR filings over the past three years. The increase in shareholder value and in asset value from where the transaction began to Galaxy's acquisition, clearly shows lithium asset appreciation and shareholder value for the Lithium One shareholders. Mammoth Energy is following these lithium sector developments in order to bring shareholder value to MMTE.'
Mammoth Energy Group's Compania Lithium Investments Limitada has already acquired an initial thirteen lithium concessions for a total of 8649 acres (3500 Hectares) in the southern section of the Salar de Maricunga, seven concessions for a total of 4695 acres (1900 hectares) in the Salar de Pujsa, 2471 acres (1000 hectares) in the Salar del Laco for a total of over 28,000 combined acres on seven different properties throughout Chile. The company is currently in acquisition mode and Compania Lithium Investments Limitada was created to acquire, develop and explore lithium and mining assets in Chile on behalf of Mammoth Energy Group Inc.
About Mammoth Energy Group Inc. (PINKSHEETS: MMTE) www.mammoth-energy.com
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.
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