Mustang Energy Corp. Commences Drilling at Surprise Creek Uranium-Copper Project, Saskatchewan
Mustang Energy Corp. Commences Drilling at
Surprise Creek Uranium-Copper Project,
Saskatchewan
VANCOUVER, British Columbia, October 1 4, 202 5 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE:
MEC, OTC:MECPF, FRA:92T ) (the “ Company” or “ Mustang”) ”) is pleased to announce the
commencement of its inaugural diamond-drilling program at the Surprise Creek Uranium-Copper Project
(“Surprise Creek ” or the “ Project”) located northwest of the Athabasca Basin near Uranium City,
Saskatchewan.
The helicopter-supported program will test priority targets identified along the Surprise Creek Fault Zone,
an area hosting high-grade uranium surface samples and historic drill intercepts 1,2. Mustang has engaged
Base Diamond Drilling Ltd. to complete up to 2,000 metres of drilling focused on following up historical
intercepts, improving structural understanding of the mineralized zones, and testing undrilled targets
generated by recent geophysical surveys.
Figure 1: Base Drilling’s diamond drill rig on Mustang’s Surprise Creek program
Nick Luksha, CEO of Mustang Energy, commented:
“Drilling has officially commenced, marking an exciting milestone for Mustang Energy. In just over a year,
we’ve acquired more than 140,000 hectares, secured key permits, and established strong partnerships
with respected industry leaders and First Nations communities. Having traded over 100 million shares and
raised more than $8 million, Mustang is well-positioned for meaningful growth as we begin testing our
high-priority targets.”
Figure 2: Surprise Creek Fault Surface Samples and Target Areas1, 2, 4, 5
About Surprise Creek Uranium-Copper Project
The Surprise Creek Project lies 25 km northwest of the Beaverlodge Uranium District, home to the historic
Gunnar and Eldorado (Ace -Fay-Verna) uranium mines. Surface sampling by Thunderbird Resources Ltd.
(“Thunderbird”) has returned assays of up to 7.98% U₃O₈,2 while historical copper prospects such as Bob
Lake and Ellis Bay include past drilling highlights of 9.1 m @ 2.07% Cu and 27.3 g/t Ag from surface 3, and
6.6 m @ 1.31% Cu from 11 m.3 Rock-chip sampling by Thunderbird returned grades as high as 61.7% Cu.2
Mustang holds an option to acquire an 80% interest in the Project from Thunderbird pursuant to an
option agreement (the “Option Agreement”) dated June 3, 2025. Please refer to the Company’s news
release dated June 4, 2025 for more information regarding the Option Agreement. The program is fully
permitted, with exploration approvals granted by the Saskatchewan Government.
Figure 3: Surprise Creek Uranium-Copper Project Overview and Location 1, 3, 4, 5, 6
References
1 ASX:THB announcement dated 6th July 2022 titled “Surprise Creek data review highlights high-grade targets”
2 ASX:THB announcement dated 22 December 2022 titled “High-grade Uranium rock chip results at Surprise Creek”
3 ASX:THB announcement dated 13th February 2023 titled “Exciting Copper Targets at Surprise Creek”
4 ASX:THB announcement dated 13th October 2022 titled “Exceptional Uranium and Copper Rock chip results”
5 Saskatchewan Mineral Assessment Database Drill hole VT20, SMAD# 74N10-0368, Retrieved from http://mineral-
assessment.saskatchewan.ca/Pages/BasePages/Main.aspx
6 Saskatchewan Mineral Assessment Database, SMAD# 74N11-0063, Retrieved from http://mineral-
assessment.saskatchewan.ca/Pages/BasePages/Main.aspx
Cautionary Statement
The Company advises that, notwithstanding their proximity and location, discoveries of minerals on or near historic
mines such as Gunnar and Eldorado , 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.
Qualifying Statement
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.
About Mustang Energy Corp.:
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:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
This news release includes certain statements and information that may constitute forward -looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements relate
to future events or future performance and reflect th e expectations or beliefs of management of the
Company regarding future events. Generally, forward -looking statements and information can be
identified by the use of forward -looking terminology such as “intends”, “believes” or “anticipates”, or
variations of such words and phrases or statements that certain actions, events or results “may”, “could”,
“should”, “would” or “occur”. This information and these statements, referred to herein as “forward-
looking statements”, are not historical facts, are made as o f the date of this news release and include
without limitation, statements regarding discussions of future plans, estimates and forecasts and
statements as to management's expectations and intentions with respect to, among other things, the
future potentia l of the mineral claims held by the Company , the r esults from the current phase of
exploration on the Project and the completion of future work on the Project. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including without
limitation the assumption that the Company will be able to continue exploring the Project given various
environmental and economic factors outside of its control and that the Company will be able to obtain its
intended results from the exploration on the Project. Although management of the Company has
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking
statements and forward-looking information. Readers are cautioned that reliance on such information may
not be appropriate for other purposes. The Company does not undertake to update any forward -looking
statement, forward-looking information or financial out -look that are incorporated by reference herein,
except in accordance with applicable securities laws.