Mustang Acquires Lithium and Rare Metals Mineral Rights from Tantalum Mining Corporation of Canada
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For Immediate Release
Exchange: TSX Venture
February 20, 2018
Toronto, Ontario
Symbol: MUM
Shares Outstanding: 42,034,264
MUSTANG ACQUIRES LITHIUM AND RARE METALS MINERAL RIGHTS FROM
TANTALUM MINING CORPORATION OF CANADA
HIGHLIGHTS
Acquisition of neighbouring, significant lithium project expands battery metal portfolio
Significant historical resource of 3.95 million tons @ 1.28% Li2O
Mustang’s portfolio now includes all key battery metals: Lithium, Nickel, Copper & Cobalt
Company will change name to reflect battery metals focus subject to shareholder approval
TORONTO, CANADA - Mustang Minerals Corp. (TSX-V: MUM) (“Mustang” or the “Company”)
today announced that it has acquired the mineral rights to several lithium and rare metal bearing
pegmatites located immediately adjacent to its Mayville claims which are part of the Makwa Mayville
Nickel-Copper-Cobalt- PGM property in south eastern Manitoba. Mustang has optioned 100% of the
mineral rights from Tantalum Mining Corporation of Canada Ltd. (“Tanco”) in return for a 2% net
smelter roy alty and a commercial right retained by Tanco to purchase products produced from the
property. The acquisition expands Mustang’s exposure to the principal battery metals required for
electric vehicles and the clean energy grid. With this acquisition Musta ng’s project portfolio spans all
the key battery metals, i.e. Lithium, Nickel, Copper and Cobalt. There is no cash , share consideration
or work commitments due by Mustang under the terms of the acquisition agreement.
The mineral rights have been held by Tanco since the 1970s. There are four known pegmatites on the
property with a total historical resource of 3.95 million ton s at a grade of 1.2 8% Li 2O1. Historical
exploration indicates that at least two of the pegmatite dykes are the highly evolved LCT (lithium-
cesium-tantalum) bearing type. The Company believes that the exploration potential in the area is
high.
“We remain committed to progressing our Makwa -Mayville Nickel-Copper-Cobalt project but are
delighted to add another key battery metal project to our portfolio “stated Robin Dunbar, President of
Mustang. “The exploration target is the high value LCT type pegmatites similar to the Bernic Lake
Pegmatite that has been mined by Tanco (next to our Makwa Property ) for many years. All our
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 resour ce
estimate as a current resource estimate until such time as a Qualified Person has r eviewed and confirmed the data.
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Manitoba projects are located near infrastructure in south eastern Manitoba , a mining friendly
jurisdiction” he added.
Nickel-Copper-Cobalt Exploration
Mustang is currently undertaking a ground geophysical program adjacent to the nickel-copper-cobalt
deposit at the Makwa Property targeting high grade nickel sulphide. Electromagnetic (EM) surveying is
expected to commence around the end of February following the completion of line-cutting.
Corporate Name Change
To better ref lect the Company’s focus on battery metals Mustang is planning to change the name to
Grid Metals Corp. A shareholder meeting will be held in Toronto on March 9, 2018 to vote on the
name change.
About Tantalum Mining Corporation of Canada Ltd.
Tantalum Mining Corporation of Canada Ltd. is a wholly owned subsidiary of Cabot Corp.
(NYSE:CBT) It operates the Tanco Mine located at Bernic Lake which produces cesium formate from
the Tanco Pegmatite. The Tanco Mine property adjoins Mustang Minerals Corp. mineral rights
covering the Makwa Nickel-Copper-Cobalt Deposit.
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 also controls mineral rights at the East Bull Lake Property west of Sudbury prospective
for PGM and the Bannockburn Nickel Property near Matachewan Ontario.
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 st atements”). 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 a nd 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 politica l 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 metals, completion of econ omic 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 Management Discussion an d Analysis for the
most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available
at www.sedar.com.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.