Mustang Energy Corp. Announces Results of TDEM Survey Over the 914W Property

Article content

Prospecting efforts did not confirm elevated uranium values in the southwestern part of the grid, likely due to limited outcrop exposure. However, anomalous uranium values were identified in the northeastern portion of the soil grid, including a granitic gneiss sample that returned 42.3 ppm U.

Article content

Sampling Methods

Article content

Samples were submitted to SRC Laboratories in Saskatoon, SK, for analysis. Both rock and soil samples were tested using ICP-MS with four-acid digestion, ICP total four-acid digestion, and U₃O₈ assays by ICP reported in weight percent.

Article content

Horizon A soil samples were collected by removing surface vegetation with a trowel and sampling the uppermost layer of topsoil. Rock samples were taken from exposed basement boulders or granitic outcrops that returned elevated counts per second (cps) readings.

Article content

About the 914W Uranium Project:

Article content

The Project consists of two claims claim covering 2,440 hectares. It is situated approximately 48 km southwest of Cameco’s Key Lake Operation, offering favourable logistics and access via Highway 914. The Project is positioned within the Western Wollaston Domain, known for unconformity and basement hosted uranium mineralization. The Project is situated over favorable geology, with local graphite-bearing assemblages. Immediately to the north of the Project is the Scurry Rainbow E Zone ¹, where 1,288 ppm U was encountered in drill hole ML-1, and the Don Lake Trenches ², where surface prospecting revealed up to 0.64% U₃O₈ in a trench at Don Lake Zone E ². While historical exploration conducted several geophysical and geological surveys over portions of the property, most of the Project remains underexplored.

Article content

Article content

Mustang purchased an interest in the Project pursuant to an option agreement (the “Option Agreement”) with Skyharbour Resources Ltd., whereby Mustang may acquire a 75% interest in the Project by satisfying certain conditions. Please refer to the Company’s news release dated November 13, 2024, as filed under the Company’s SEDAR+ profile, for further details regarding the Option Agreement.

Article content

The Company advises that, notwithstanding the proximity of location, discoveries of minerals on or near the Scurry Rainbow E Zone, Don Lake Trenches, and Cameco’s Key Lake Operation, and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Project, or the Company’s ability to commercially exploit the Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information.

Article content

References:

Article content

Article content

Article content

Qualifying Statement

Article content

The scientific and technical information in this news release has been reviewed and approved by Troy Marfleet, P.Geo., Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Marfleet is a Qualified Person as defined by National Instrument 43-101.

Article content

About Mustang Energy Corp.:

Article content

Mustang Energy is a Canadian mineral exploration company focused on the discovery and development of high-potential uranium and critical mineral assets. The company holds a portfolio of 147,153 hectares of strategically located properties in Saskatchewan’s Athabasca Basin—one of the world’s premier uranium districts. Mustang is advancing early-stage exploration through modern techniques and a disciplined, data-driven approach. The Company is committed to building long-term value through responsible exploration and a focus on high-impact targets in underexplored areas. For further information, please contact:

Article content

Mustang Energy Corp.

Article content

Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184