Drilling Underway at Mayville Lithium
1
For Immediate Release
Exchange: TSX Venture
April 18, 2018
Toronto, Ontario
Symbol: MUM
Shares Outstanding: 42,034,264
DRILLING UNDERWAY AT MAYVILLE LITHIUM
TORONTO, CANADA - Mustang Minerals Corp. (TSX-V: MUM) (“Mustang” or the “Company”)
today announced that drilling ( approximately 1,500 meters ) has commenced at the lithium and rare
metals property recently acquired from Tantalum Mining Company of Canada . (“Tanco”) There are
four known pegmatites on the property with a total historical resource of 3.95 million tons at a grade of
1.28% Li2O. 1
The focus of the exploration is to initially test the lithium and rare metals c ontent of the Main Dyke to
confirm lithium values and test for economic amounts of rare metals, particularly tantalum and cesium.
The Main Dyke has a strike length of approximately one kilometer and appears open in all directions .
In addition to the drill holes drilled in the 1950’s (Violamac Mines Ltd/Lithia Mines and Chemicals
Ltd) one hole was drilled in 2006 (Tantalum Mining Corpor ation of Canada Ltd) which had strong
lithium and elevated cesium and tantalum values. (see 2006 dri ll intercept referenced below ) .
Historical literature also suggests that the lithium bearing spodumene in the Main Dyke is low in iron
and could potentially be made into a concentrate attractive to the ceramics industry.
The Company will test the continuity of the Main Dyke o ver a substantial portion of its one kilometer
strike length, initially at depths between surface and 150 meters. Approximately 150 0 meters are
planned.
Drillhole from Manitoba Assessment Files Targeting Main Dyke – 2006
From
( meters)
To
( meters)
Length
( meters)
Tantalum
Grade Ta2O5
%
Cesium Grade
Cs2O
%
Lithium Grade
Li2O
%
Rock type
33.7
34.7
1.0
0.01
0.36
0.07
pegmatite
34.7
38.5
3.8*
0.01
0.38
1.56
pegmatite
*Estimated true width not known.
1 Source Manitoba Mineral Inventory File #229. Resources are historical in nature and not NI 43 -101 compliant. Mustang
does not consider the historical resource estimate as a current resource estimate and is not relying on the historical resource
estimate as a current resource estimate until such time as a Qualified Person has reviewed and confirmed the data
2
The four known pegmatites on the Mayvill e Pegmatite Property acqu ired by Mustang are located at or
near the lithological contact between the Maskwa Lake Batholith and mafic volcanic rocks . This
favourable horizon has been mapped for approximately 10 kilometers. The four pegmatites of interest
cover an area of approximately 1500 m by 1500 m in an area south of Mustang’s M2 Copper -nickel
deposit. Mustang has now staked the remaining prospective horizon and will in future complete
prospecting and geochemical analysis to look for additional pegmatite targets.
About Mustang Minerals
Mustang owns the mineral rights to the Makwa Nickel -Copper-Cobalt Property and the Mayville
Copper-Nickel Property both located in the Bird River Greenstone Belt in southeast Manitoba. The
Company completed a P reliminary Economic Assessment on the Makwa -Mayville Project in 2014.
The Company recently acquired lithium bearing pegmatites with a historic resource in the Mayville
area and also controls mineral rights at the East Bull Lake Property west of Sudbury pro spective for
PGM and the Bannockburn Nickel Property near Matachewan Ontario. Shareholders of the Company
have approved a name change to Grid Metals Corp.
Carey Galeschuk P. Geo is the Qualified Person for Mustang Minerals Corp.
To find out more about Mustang Minerals Corp. (TSX-V: MUM)
visit our website at www.mustangminerals.com or:
Telephone: 416-955-4773 email: [email protected]
We seek safe harbour.
This news release contains forward -looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and forward -looking information within the meaning of the Securities Act (Ontario)
(together, “forward -looking statements”). Such forward -looking statements may include the Company’s plans for its
mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and
involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements expressed or implied by such forward -looking statements to be materially different. Such factors include,
among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs
estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency
fluctuations, fluctuations in the price of nickel and other meta ls, completion of economic evaluations, changes in project
parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and
other risks and uncertainties, including those described in the Company’s Ma nagement Discussion and Analysis for the
most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available
at www.sedar.com.
Neither the TSX Venture Exchange nor i t Regulations Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.